I Have A Question! - Page 3 - Political Fever

Finny · #21 (**permalink**) 10-05-2008, 01:48 PM

Quote:

Originally Posted by Affrayer

Inflation has every bit to do with wages.

And you do realize Inflation is down right And we are heading into a Deflationary period right?

Quote:

Originally Posted by Affrayer

Business Feed Article | Business | guardian.co.uk

BEIJING, Oct 2 {2008}(Reuters) - China will ease monetary policy through the end of next year to support growth in the face of a global slowdown, lowering interest rates and slowing the pace of yuan appreciation, a Reuters poll showed on Thursday.

BTW: I DON'T BELIEVE A SINGLE THING YOU SAY!

Ignorance is bliss for some I guess.

Quote:

Originally Posted by Times Online

China announced today that it is scrapping the yuan’s peg against the dollar in favour of a basket of currencies, the first step in a long anticipated move to float the currency.

The new yuan rate against the US dollar revalues the currency by 2.1 per cent to 8.11 yuan per dollar, China’s central bank

The People's Bank of China said it was making the changes "with a view to establish and improve the socialist market economic system in China, enable the market to fully play its role in resource allocation as well as to put in place and further strengthen the managed floating exchange rate regime based on market supply and demand".

The Bank said that, as from today, the renminbi, the local name for the yuan, "will no longer be pegged to the US dollar and RMB exchange rate regime will be improved with greater flexibility.

"The People's Bank of China will announce the closing price of a foreign currency such as the US dollar traded against the RMB in the inter-bank foreign exchange market after the closing of the market on each working day, and will make it the central parity for the trading against the RMB on the following working day," it said.

Yen rallies sharply

Japan’s yen rallied sharply against the dollar and the euro as traders bet the stronger Chinese currency would be positive for its near neighbour.

"In general the reaction we have seen is the same as what we saw last time when they raised interest rates. People are buying the yen again," Kristjan Kasikov, currency strategist at Calyon, told Reuters.

Observers' first questions of the move were the identity of the currencies included in the basket, and for details of the exact terms of the daily evaluation of the yuan against that currency basket - the amount of variation and the market it would be referenced to.

"If the currency basket is dollar dominated, then not much will have changed," was one view put to Times Online.

"The timing is clever," Julian Jessop, chief international economist at Capital Economics, said. "By changing the peg well in advance of President Hu Jintao’s visit to Washington in September, Beijing may be able to avoid giving the impression of bowing too obviously to US pressure, while still doing the bare minimum necessary to defuse trade tensions.

"Instead, the change can be linked to the strong Chinese GDP data released yesterday. The 9.5 per cent growth in the second quarter showed that the economy is in good shape to make the next step towards a more flexible currency regime, which has long been China’s stated aim.

"However, the details are still vague," Mr Jessop continued. "The statement says that the ‘renminbi will no longer be pegged to the dollar’. Nonetheless, it has also announced that the exchange rate against the dollar ‘will be adjusted to 8.11’, and that the existing daily trading band of +/-0.3 per cent around this central rate will be retained. In a true basket system, none of the components would be singled out in this way."

Hamish Low, a strategist at broker Execution, said: "It’s probably going to be a positive thing from the point of view of the US. It has been talked about for some time but there was always going to be an impact when it actually happened."

US stock futures surged, pointing to gains of between 0.5 and 0.75 per cent for the three main indices, but some cautioned the move was more important from a sentiment standpoint than for its actual economic impact.

"This looks like a very minimalist move, some have been looking for more," Mark Cliffe, an economist at ING, said.

"The fact the market has quietened down on the issue is probably why they are doing it now. It maybe relieves some of the pressure from the US with tariffs on the table in Congress but it remains to be seen if it is enough politically or economically. it is not going to change the trade position."

China begins to float currency

Another link to it.

Affrayer · #22 (**permalink**) 10-05-2008, 01:49 PM

Quote:

Originally Posted by Finny

No, Europe is not a continent anymore. Its a Union.

NAFTA!

Finny · #23 (**permalink**) 10-05-2008, 01:53 PM

I addressed this. Its Gene deciding the EU is a bunch of "States" that have their own markets. Which was proven wrong...

Quote:

Originally Posted by Finny

No, Europe is not a continent anymore. Its a Union. It's called the European Union, uses the Euro, has a Parliament which meets in Brussels and Strausbourg. It has a single market economy.

So if we use your ability to take member states of the EU and say they have this unemployment rate. I think we can do by State in the United States right?

So lets use the Eurostat. Even in their report they group all the member states of the European Union into 1 to compare it to the US. You can read the report here.

But you don't want to do it. So lets look at some of 50 states in the United States ( a Union)..

South Dakota 2.8%
North Dakota 3.2%
Utah 3.2%
Wyoming 3.2%
Nebraska 3.3%
Hawaii 3.8%
Idaho 3.8%

Here you go.

Wonder if you game the stats still?

Finny · #24 (**permalink**) 10-05-2008, 01:54 PM

Quote:

Originally Posted by Affrayer

NAFTA!

What about NAFTA? Bill Clinton signed for it? You have something constructive or even remotely true to say?

Didn't think so.

Affrayer · #25 (**permalink**) 10-05-2008, 01:59 PM

Quote:

Originally Posted by Finny

And you do realize Inflation is down right And we are heading into a Deflationary period right?

Your link is about money supply:

Even so, wages did not keep up with the money supply...

As you can see here: Current Inflation inflation is way up for the year of 2008.

You lose again....

Quote:

China begins to float currency

July 21, 2005

Quote:

Another link to it.

July 21, 2005

Notice the dates? Sweet....you've become Mr. Undependable

Finny · #26 (**permalink**) 10-05-2008, 02:28 PM

Quote:

Originally Posted by Affrayer

Your link is about money supply:

Even so, wages did not keep up with the money supply...

Never said they did.

Quote:

Originally Posted by Affrayer

As you can see here: Historical Consumer Price Index inflation is up for the year of 2008.

Of course, I didn't said it wasn't, I said we are headed to a Deflationary period. Which means a tightening of the money supply which means your idea of inflation to wage increase ratio is in the past.

The economy moves way to fast for you Affrayer.. you are stuck on Inflation, while I see Oil sitting at less then $95 a barrel.. which is a strong indication of deflation.

Quote:

Originally Posted by Affrayer

You lose again....

Nah, you are slow on the uptake. Its people like me who play the markets and know the economy who love when ignorant folks invest. I'll ride your bearish or bullish outlook.. make money off it every step. You say the economy is bad.. I'll short stocks.. when you say it's bullish, I'll ride your little bubble and sell into every rally making profits all the way.. but at the end of the day. I am the one making money and you are the one complaining.

Quote:

Originally Posted by Affrayer

July 21, 2005

July 21, 2005

Notice the dates? Sweet....you've become Mr. Undependable

Quote:

Originally Posted by Finny

BTW, the Chinese removed the final peg to the US dollar last month. The Chinese have floated the yuan since 2005. There was no "Tidal Wave" of inflation as you call it.

I said the Chinese started to float the yuan in 2005. So you are saying what? I gave you factual dates? I can even tell you the rates the Chinese allowed the Yuan to float to.. from 0.3% to 0.5%.. recently China removed central parity rate to allow it to equal the rates of which the rest of the currency trade at..

In a nutshell it means the Dollar vs Yuan can move up to 3% or down 3% each day up against the Central parity rate. Which means the Chinese is treating the dollar as every other currency and that cuts final cord (pegging) to the dollar.

Its a good thing I do this for a living.. and you read your information from somebody who calls up a broker or hasn't spend one day in a office of a Bank, Mortgage company or even left their cozy office the Newspaper company provides for them.

nerv14 · #27 (**permalink**) 10-05-2008, 03:48 PM

ummm... I don't mean to be a dick but Bush shouldn't say that we are competely screwed because that would just erode more faith in the system and bring down the stock market.

Chan · #28 (**permalink**) 10-05-2008, 05:10 PM

Quote:

Originally Posted by Affrayer

Let's take a look at the republicans and national debt:

Does anyone doubt that republicans are bad for the country? That Bush is bad for the economy and he's lying about the reports?

Now look at your chart. TRUMAN was a Democrat. Ike, Nixon and Ford were Republicans.

GeneCosta · #29 (**permalink**) 10-05-2008, 05:55 PM

Quote:

Originally Posted by Chan

Now look at your chart. TRUMAN was a Democrat. Ike, Nixon and Ford were Republicans.

Uh, Truman inherited the debt from WW2... Of course it's high up there.

GeneCosta · #30 (**permalink**) 10-05-2008, 06:03 PM

Quote:

Originally Posted by Finny

No, Europe is not a continent anymore. Its a Union. It's called the European Union, uses the Euro, has a Parliament which meets in Brussels and Strausbourg. It has a single market economy.

So if we use your ability to take member states of the EU and say they have this unemployment rate. I think we can do by State in the United States right?

We'll get to those numbers in a minute.

So lets use the Eurostat. Even in their report they group all the member states of the European Union into 1 to compare it to the US. You can read the report here.

But you don't want to do it. So lets look at some of 50 states in the United States ( a Union)..

South Dakota 2.8%
North Dakota 3.2%
Utah 3.2%
Wyoming 3.2%
Nebraska 3.3%
Hawaii 3.8%
Idaho 3.8%

Here you go.

Wonder if you game the stats still?

Hawaii has one of the biggest welfare systems in the country. I think it's quite telling that you're ignoring the significant difference in populations between states like South Dakota and Norway.

Face it: Europe isn't the hellhole you think it is. I've been there multiple times and they have everything we do, and more - if you care to examine our poor populations.

Some more juice to the anti-European bigotry:

Netherlands: 2.8%
Switzerland: 2.3%

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