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Old 13th June 2007, 09:56 AM
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Bush's Moment of Truth

Global stock markets have fallen after US government bond yields rose to their highest level in five years, stoking fears of higher borrowing costs....

http://news.bbc.co.uk/2/hi/business/6747581.stm

Don't know why the rest of the World is panicking, but yes China has been selling T Bonds and the US is going to struggle to finance its deficits. If the currency wobbles which realistically it should, interest rates are going to have to go a long way North, which in turn will mean deeper recession, less capital investment, more capital outflows, which will hit the dollar even harder and then the cycle will start again. How do I know. Trust me I have lived it!

How do you get out of this mess? Well, it isn't easy. It takes years. It takes leadership. And it involves a lot of pain. Lower Government spending, which impacts on jobs, higher taxes, virtual freeze on wages. Misery by any other word. Thatcher got us out of our mess. Can Bush do the same? Don't make me laugh!
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Old 13th June 2007, 10:47 AM
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Re: Bush's Moment of Truth

Quote:
Originally Posted by Rubber Duck
How do you get out of this mess? Well, it isn't easy. It takes years. It takes leadership. And it involves a lot of pain. Lower Government spending, which impacts on jobs, higher taxes, virtual freeze on wages. Misery by any other word. Thatcher got us out of our mess. Can Bush do the same? Don't make me laugh!
The guy is about to be put out of office by law, so why should he have any further initiative in terms of national interests?

He has taken care of his interests very well during the past 8 years, destroying Iraq and then funneling contracts to Halliburton to clean it up. You do know that Dick Cheney was CEO of Halliburton in between being Secretary of Defence for Bush senior and Vice President for Bush junior? He was also heavily involved with Halliburton before and during the Bush senior administration... Rumsfeld is also a major shareholder in Halliburton... This stuff is pretty hard to hide.

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Old 13th June 2007, 10:53 AM
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Re: Bush's Moment of Truth

Yeah! No wonder Putin laughs in his face!

Quote:
Originally Posted by jacksonm
The guy is about to be put out of office by law, so why should he have any further initiative in terms of national interests?

He has taken care of his interests very well during the past 8 years, destroying Iraq and then funneling contracts to Halliburton to clean it up. You do know that Dick Cheney was CEO of Halliburton in between being Secretary of Defence for Bush senior and Vice President for Bush junior? He was also heavily involved with Halliburton before and during the Bush senior administration... Rumsfeld is also a major shareholder in Halliburton... This stuff is pretty hard to hide.

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Old 13th June 2007, 02:39 PM
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Re: Bush's Moment of Truth

From the past few mths data, soft landing is likely, unless the US or israel decides on a showdown with Iran. In such a case, everyone will be damned.
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Old 13th June 2007, 02:53 PM
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Re: Bush's Moment of Truth

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Originally Posted by touchring
From the past few mths data, soft landing is likely, unless the US or israel decides on a showdown with Iran. In such a case, everyone will be damned.
Trust me "Soft Landing" is politician speak for "Vote for us".
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Old 14th June 2007, 04:41 AM
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Re: Bush's Moment of Truth

I think so, soft landing might be a fallacy on 2nd thoughts. If increase in sales is due to retailers jacking up prices everywhere, it can hardly be called a soft landing.

Inflation is getting problematic. Everyone is raising prices, i'm also raising prices...

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Old 14th June 2007, 07:20 AM
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Re: Bush's Moment of Truth

The US Senators are starting to try to take some steps now.

http://www.chron.com/disp/story.mpl/...s/4888405.html

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Old 14th June 2007, 07:40 AM
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Re: Bush's Moment of Truth

Quote:
Originally Posted by jacksonm
The US Senators are starting to try to take some steps now.

http://www.chron.com/disp/story.mpl/...s/4888405.html

.
Yes, but this is really only like Turkey's voting for Christmas. China is actually providing much of the cash that is keeping the US afloat. What is actually needed is a strategy to retain a greater share of the Capital Investments in Production capacity being made by its own indigenous companies, that are now firmly putting down roots in China and India.

This needs to be achieved whilst keeping debt and inflation under control. In many ways it is bit like turning up a Family Planning with 8 kids seeking a solution. There are no easy ways out the US situation, and there are certainly none that Bush is likely to be able to get his head around.

The real assets of an economy are much less tangible than most people think. Dollar Bills are only bits of paper. The real value is in the human resources a country has and the infrastructure that enables those resources to be properly exploited. Factories can close, the buildings become useless and those soft intangible resources and the infrastructure that supports them disappears. The accountants don't even see it all go. In many ways, it is not so much about how much money you have but the efficiency by which it is recycled. Pile all you dollars high in Times Square and you might as well set fire to the lot. Money is the medium of exchange, it the process of exchange that makes an economy.
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