Philosophy Now Forum

henry quirk wrote:No, Bob...I mean it'll be interesting when the jackass(es) come lookin' to collect from 'me'.

I'm the tax (non)payer, remember?

Some portion of what 'you' pay Uncle Sam goes to China...since I pay the good Uncle squat, China gets nuthin' from me.

As for their investing: let 'em...I pay little attention to the current powers...can't see why I'll pay any more attention to the future ones.

Your understanding of economics is pathetic. The U.S. government sells securities to countries everywhere. However, if a company buys a billion dollars worth of something from a Chinese company, those dollars aren't the government's money.

Your understanding of economics is pathetic. The U.S. government sells securities to countries everywhere. However, if a company buys a billion dollars worth of something from a Chinese company, those dollars aren't the government's money.

Nonsense talk . As of Feb 2012 China has accumulated $4.7 trillion in foreign assets through purchases of United States government securities. So the argument that the US sells its bonds to everywhere is a bit silly in magnitude terms.
China has to buy Fed bonds to prevent its economy from overheating and becoming inflationary.
And I think you should understand that the petro dollar is the only thing holding the sticking tape together on the US economy.

However, one wonders what your argument is.
Is it that the China - USA trade arrangement is honky dory ?
Do us a favor.
You will have to invade Iran soon to prevent them from
killing off the petro dollar and when that happens you will
all be lining up in soup kitchen queues in the US of A.

No doubt.

Irrelevant to my point (which has whizzed by your head like a bullet).

*shrug*

henry quirk wrote:No doubt.

Irrelevant to my point (which has whizzed by your head like a bullet).

*shrug*

Well Bobaloola says " Your understanding of economics is pathetic."
So what you got to say about that sport ?

Nuthin'.

Again: Bob's assessment is irrelevant to my point (which, apparently, has [also] whizzed by your head like a bullet).

"nuff said.

henry quirk wrote:"The biggest beggar in the world"

With the biggest (atomic) stick, so, feed us or die...

#

"$50,000 debt on every citizen of America"

Gonna be real interesting when some jackass comes lookin' to collect.

after comrade Obama finishes playing Weimar and we start the second American civil war, there might be a chance that nuclear missiles will not fly... but I doubt it...

-Imp

bobevenson wrote: When are you people going to stop throwing kerosene on people and setting them on fire?

Kerosene kills much fewer people than hundreds of thousands killed by Smart Bombs, Depleted Uranium Bombs and Drone Attacks.

It kills fewer people than mass shootings and gun related violence.

henry quirk wrote:Nuthin'.

Again: Bob's assessment is irrelevant to my point (which, apparently, has [also] whizzed by your head like a bullet).

"nuff said.

You may dispense with the argument, with petty cliches, but that does not stand for
a convincing argument. You appear to have a delusional mind set, in which you are lucid
and yet ,no one understands the babble in your head.

sushil_yadav wrote:

bobevenson wrote: When are you people going to stop throwing kerosene on people and setting them on fire?

Kerosene kills much fewer people than hundreds of thousands killed by Smart Bombs, Depleted Uranium Bombs and Drone Attacks.

It kills fewer people than mass shootings and gun related violence.

A completely un-linked irrelevant and fatuous statement in the context of an economic discussion on global economics.

Bobaloola has notably gone AWOL.He must be desperately researching Google trying to find something to rebut my argument on china and USA trade

a Shark wrote:

Your understanding of economics is pathetic. The U.S. government sells securities to countries everywhere. However, if a company buys a billion dollars worth of something from a Chinese company, those dollars aren't the government's money.

Nonsense talk . As of Feb 2012 China has accumulated $4.7 trillion in foreign assets through purchases of United States government securities. So the argument that the US sells its bonds to everywhere is a bit silly in magnitude terms.
China has to buy Fed bonds to prevent its economy from overheating and becoming inflationary.
And I think you should understand that the petro dollar is the only thing holding the sticking tape together on the US economy.

However, one wonders what your argument is.
Is it that the China - USA trade arrangement is honky dory ?
Do us a favor.
You will have to invade Iran soon to prevent them from
killing off the petro dollar and when that happens you will
all be lining up in soup kitchen queues in the US of A.

Of the $14.3 trillion U.S. debt, $9.8 trillion is owned by the American people, $1.2 trillion by China, $912 billion by Japan, $347 billion by the UK, $211 billion by Brazil, $153 billion by Taiwan, and $122 billion by Hong Kong.

Of the $14.3 trillion U.S. debt, $9.8 trillion is owned by the American people, $1.2 trillion by China, $912 billion by Japan, $347 billion by the UK, $211 billion by Brazil, $153 billion by Taiwan, and $122 billion by Hong Kong.

You were not talking of debt (as bad a that is) you were talking about China investing in the USA which was your misconception that China freely reinvests its dollars in the USA economy. It doesn't . What it does is buys Fed bonds to stop China blowing up
inflation.

4.7 trillion !! You any idea how humongous that is ?
In fact, China has run investment-account deficits for six of the last nine years, with preliminary statistics suggesting a deficit of $57.4 billion in 2012.
Now here is the question :What did China earn on its bond purchases ? The return on US government securities, which form the bulk of China’s foreign assets, was next to nothing!!!

Yes Bobaloola , your great overtures about the Chinese reinvesting in America is BULLSHIT. It is merely moving its money out of the country, into US federal reserve paper ,to stop China melting down.
This causes the Chinks big problems because, when the dollar depreciates, so do
the Chinese holdings .

So here is the lie to your argument the system is a legitimate biltilateral trading benefit.
The Chinese dollar holdings make no profit and are merely inflated away.
When the dollar dives so do the fed bond values.
Mr Bobaloola it is a shambles .

However , let us not worry about this right now. It is Saturday night and I am going to sit back and down a few cold largers
and sing Sinatra's "Its the good life" .I hope you will join me!

(or was it Tony Bennet ? )

When China manufacturers sell things to the U.S., those dollars eventually come back to buy American products and services in one way or another. That's basic economics, my friend.

bobevenson wrote:When China manufacturers sell things to the U.S., those dollars eventually come back to buy American products and services in one way or another. That's basic economics, my friend.

Boballoola have you never heard of a trade deficit ?
The Chinese are not consumers in the same way that the Americans are.
What is coming back to your country is not dollars for your goods and service but dollars in exchange for federal reserve bonds .

a Shark wrote:

bobevenson wrote:When China manufacturers sell things to the U.S., those dollars eventually come back to buy American products and services in one way or another. That's basic economics, my friend.

Boballoola have you never heard of a trade deficit ?
The Chinese are not consumers in the same way that the Americans are.
What is coming back to your country is not dollars for your goods and service but dollars in exchange for federal reserve bonds .

And what is done with the money received for those securities? The U.S. government buys goods and services with it, my friend.