Trade/Currency wars[views:1642][posts:1]_________________________________________ [Oct 9,2010 10:20am - TheRidersofDoom ""] Today on NPR they discussed a possible global doompocalpyse scenario in which all the countries try to devalue their currency. I guess the scenario goes something like if India were to devalue their currency to make their exports cheaper and therefore more desirable, someone in the same markets would get pissed and start to devalue their own currency to compete with china. This story comes also on the heels of congress actually finally deciding to do something about China trading unfairly, the sell us tons of shit, devalue their currency, pay their workers nothing, and then put tariffs on American imports. I say too little too late but I guess Congress wants to put tariffs on Chinese goods, which would probably just cripple us, or so the big corporations will say in their fully funded tv campaign ads. All I got to say is capitalism is starting to look less shiny every day, but then again real capitalism just like real communism has never existed in real life. All I got to say is I will gladly join the NH chapter of the wolverines and kick the shit out of Chinese if they invade. |
| ___________________________________ [Oct 9,2010 11:41am - demondave ""] I've been interested in China's massive uptick in buying Yen. (some dumping but mostly buying). they are diversifying and moving away from the dollar. And yeah, they are certainly devaluing their yuan. [img] |