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America's Last Christmas

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  • America's Last Christmas

    I brought this up on today's post in response to Mark's Christmas link.

    My argument is that this might very well be the last Christmas that America will experience with our current purchasing power. Therefore you should go out and buy buy buy this year and go into debt doing it.

    The Fed is going to print, print, print because that helps out debtors, like our government.

    China is not going to be interested in importing all that inflation, so they will most likely relax their currency peg with the dollar. [1]

    For anyone who doesn't understand economics, this basically means the Chinese are going to have a dramatically increased standard of living, and Americans are going to have a dramatically decreased standard of living.

    This is a very important topic because it affects everyone who uses US dollars. It's not just tax payers who get hurt, it is anyone who owns or uses US dollars who get hurt.

    If anyone has any questions about this, I would be happy to do my best to try and answer them for you.

    [1] http://www.bloomberg.com/news/2010-1...inflation.html

  • #2
    So - invest heavily in the Chinese stock market is a good move??! And will this be ALL Asia?

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    • #3
      Anyone else who listens to Glenn Beck will know what to expect.

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      • #4
        Originally posted by breadsauce View Post
        So - invest heavily in the Chinese stock market is a good move??! And will this be ALL Asia?
        Yes, I am converting a lot of my money into Hong Kong dollars and buying stocks on the Hong Kong exchange. My broker doesn't have access to Singapore yet, but I'll be buying stocks there as well. I also own some companies in Norway. You want to buy Asian companies which do not export. I'm currently using Peter Schiff's mutual funds (Europac funds) for stock picks, and Interactive Brokers as my broker. I love IB, they are awesome with low commissions, and you can use the margin from your stocks to purchase commodities, but that's only for the more risk adverse.

        EDIT: I should also mention that I do own stocks in Canada and Australia as well. I convert into their local currencies first, then buy stocks on their local exchanges.
        Last edited by Grok; 12-05-2010, 11:23 AM.

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        • #5
          Originally posted by Diana Renata View Post
          Anyone else who listens to Glenn Beck will know what to expect.
          I don't listen to Glenn Beck, he is too preachy for me, and he doesn't quite get it, although he's learning. Some shows I recommend watching are Freedom Watch, Stossel, and SchiffRadio.

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          • #6
            I wish I paid more attention in Finance class. I really want to get into stocks but have no idea where to start or how to go about it. It always seemed like you need big money to even begin messing around with it.
            I used to seriously post here, now I prefer to troll.

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            • #7
              Originally posted by Diana Renata View Post
              Anyone else who listens to Glenn Beck will know what to expect.
              Oh, and for any of you "doubters" out there who have their heads buried in the sand. What do you think would happen under the following two scenarios:

              1) China maintains currency peg with US forever.
              2) China immediately allows the Yuan to float openly in the free market starting tomorrow.

              I would be interested in hearing your theories as to why you think the US dollar will continue to maintain it's purchasing power in either scenario.

              This is a very serious topic and it is economically motivated and not politically motivated. If you would like to put forth your economic theories I can very easily explain to you why they are incorrect. However I suspect you will remain silent until you have brushed up on Keynesian economic arguments.

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              • #8
                The sky is falling!
                Because if you didn't know, of that is life made: only of moments; Don't lose the now.
                ~Borges

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                • #9
                  Originally posted by iniQuity View Post
                  I wish I paid more attention in Finance class. I really want to get into stocks but have no idea where to start or how to go about it. It always seemed like you need big money to even begin messing around with it.
                  You don't need to own stocks to avoid the inflation tax. You can stock up on goods you buy now while they are still cheap, and you can buy silver coins with any money you want to save for later.

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                  • #10
                    Originally posted by say_rahhh View Post
                    The sky is falling!
                    See my post about putting forth your economic theories. If you would like me to explain in detail my reasoning because there is something you do not understand, then please ask your questions.

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                    • #11
                      So if I disagree with you, it's because I'm unknowledgeable?
                      Because if you didn't know, of that is life made: only of moments; Don't lose the now.
                      ~Borges

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                      • #12
                        If the system fails, it's because we had the wrong system.

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                        • #13
                          Originally posted by say_rahhh View Post
                          The sky is falling!
                          Oh By the way, how is the unemployment rate there in Las Vegas?

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                          • #14
                            Originally posted by say_rahhh View Post
                            So if I disagree with you, it's because I'm unknowledgeable?
                            Only if you cannot explain why you disagree with me.

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                            • #15
                              Originally posted by jasonph View Post
                              If the system fails, it's because we had the wrong system.
                              Indeed. Just keep in mind that a central bank which sets interest rates is not free market capitalism. Interest rates can and should be set by the free market, not by bureaucrats in Washington.

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