Luxe attack for China

[Lena]

wow, i had no idea, thanks hanne and kit ..last place in the world i would expect to get this kind of general information guys, you are the best..

kit, can the dollar sink any lower?

 

[kit]

excuses, had to edit the politics part

wow, i had no idea, thanks hanne and kit ..last place in the world i would expect to get this kind of general information guys, you are the best..

kit, can the dollar sink any lower?

As low as they want it to go to suit their purposes , my Sweet .

That's why the NYC members are always weeping about the prices at Barney's etc etc

I hasten to add that I'm NOT anti - USA , per se , I just hate the blatant right-wing social engineering of Bush and the neocons .
...........
BUT , I've said ENOUGH , and I have no wish to offend others who think differently .

 

[kit]

ooops kit i'll need to edit the political part sorry

Please do that , Lena .

I thought that I'd gone too far , unfortunately .

My sincere apologies .

 

[Lena]

no problems at all kit

 

[Hanne]

What will happen , Chuckybabes , is that the USA will borrow from China , up to the hilt , and THEN devalue the debt , by letting the dollar sink like a stone , JUST as the USA borrowed from Japan , and then scuttled the Japanese by forcing recession and the devaluing of the yen .

VOILA !!!!! - That's the way to do it !!!!!!!!!

HOWEVER , I think that the Chinese are too canny and have learned from Japan's experience .

Only time will tell , but Bush and the neocons ( well named ) , are capable of ANYTHING , including starting a war in the area , as a diversion .

The Americans don't set the value of the Dollar..the free market does so (as is the case w. the Yen)..the value of the Chinese currency on the other hand is not set by the free market.
The Chinese keep their currency low in other to sell more..and invest in American treasury bonds..

 

[kit]

The Americans don't set the value of the Dollar..the free market does so (as is the case w. the Yen)..the value of the Chinese currency on the other hand is not set by the free market.
The Chinese keep their currency low in other to sell more..and invest in American treasury bonds..

There is an awful lot that the USA can do to force its own currency down or up , and also affect other countries' currency at the same time .

The market can be manipulated by various means , too numerous to mention .

Ask Alan Greenspan , head of the federal reserve .

 

[Hanne]

No disagreement there kit .. what I was commenting on was merely the comparison w. Japan.

 

[Alpha Femme]

This situation has been repeated countless times in the past; take for example the Middle East oil.

Again I must raise the point how absurd it is for these "luxury brands" to even consider selling the crap they produce in China to the Western markets and still consider themselves luxury brands. It is sad to see fashion reduced to this state; the qualities once demanded from luxury brands have become trivial to most consumers, the brand name paramount.

What are you talking about regarding the Middle East oil?

Fashion is a business with many competitors, it's not charity. People will buy it anyway even if it cost more and more. In the case of quality, there will always be a buyer for things that are in demand no matter the level of quality.

 

[Alpha Femme]

There are of course many ways, but I was referring to her reserve holdings.

What reserve holdings ??

 

[Alpha Femme]

They are Lena..Right now a lot of Americans are overspending, and money set aside (savings) are at low..while in China people are still saving..and leaning to the overspending Americans..
The intersting question is for how long will the Chinese be willing to lean money at a low rate to the Americans..and if they stop what will happen..?

I think you need to check the Federal Reserves list of major Treasury buyers, China is not on the list.

 

[Alpha Femme]

What will happen , Chuckybabes , is that the USA will borrow from China , up to the hilt , and THEN devalue the debt , by letting the dollar sink like a stone , JUST as the USA borrowed from Japan , and then scuttled the Japanese by forcing recession and the devaluing of the yen .

VOILA !!!!! - That's the way to do it !!!!!!!!!

HOWEVER , I think that the Chinese are too canny and have learned from Japan's experience .

I think you need to check your financial history about Japan . Japan is a power house exporter for the past 20 years, accumulating enormous wealth. The Yen rose sharply in value due to their economic success during the 80's and their rates was at one point negative. Their interest rates and banking system is so screwed up that they had no other choice than to buy US Treasuries. During the 90's the Yen started to decline in value and at the same time Europe borrowed Yen to buy US Treasuries, hence making money two ways. On top of that they spent billions of Dollars on civic centers around Japan to keep people working instead of putting the money into better use. They killed their own economy by not reforming their banking system. Now for the first time, they are talking about reforming it.

China is a totally different animal, they don't really care about the rest of the world as long as they are left alone domestically. China is a country with 2 faces, one that's open to western business, Beijing, Shanghai, HK and Guangdouz with their free trade zones. The rest of China is still in the past where the government can control the influence from the west. One thing that is going to hurt them in the end is their stubborn way of looking at their currency being pegged to the Dollar. They have an enormous population that needs to be fed and their resources are very limited. They are and will be more and more dependent on oil import and other raw material to sustain the growth. We are in away lucky that the chinese are producing so many goods that we need, because it helps keep prices down.

 

[kit]

I think you need to check your financial history about Japan . Japan is a power house exporter for the past 20 years, accumulating enormous wealth. The Yen rose sharply in value due to their economic success during the 80's and their rates was at one point negative. Their interest rates and banking system is so screwed up that they had no other choice than to buy US Treasuries. During the 90's the Yen started to decline in value and at the same time Europe borrowed Yen to buy US Treasuries, hence making money two ways. On top of that they spent billions of Dollars on civic centers around Japan to keep people working instead of putting the money into better use. They killed their own economy by not reforming their banking system. Now for the first time, they are talking about reforming it.

China is a totally different animal, they don't really care about the rest of the world as long as they are left alone domestically. China is a country with 2 faces, one that's open to western business, Beijing, Shanghai, HK and Guangdouz with their free trade zones. The rest of China is still in the past where the government can control the influence from the west. One thing that is going to hurt them in the end is their stubborn way of looking at their currency being pegged to the Dollar. They have an enormous population that needs to be fed and their resources are very limited. They are and will be more and more dependent on oil import and other raw material to sustain the growth. We are in away lucky that the chinese are producing so many goods that we need, because it helps keep prices down.

Points taken , Alpha Femme .

 

[jhaime]

oh dear..i've entered a political dispute...*exits*

 

[kit]

oh dear..i've entered a political dispute...*exits*

Something tells me that we'd ALL better do so , before it comes to tears before bedtime .

 

[maverick]

true

no good with statistics and data here but for sure the majority of people are still very poor in China, most kids start working at 14 for extremely low wages for those factories working for the western consumer, in some cases those little wages are long in due, making overty unbearable for workers..
but what about the bosses of those millions of unrdwaged workers?
thats where luxury comes in...
there are very few 'rich guys' there, but the ones who are rich are insanely rich, i've heard some unbelievable stories of absolute eccentricism..

is US borrowing from China?

What is your source for this information? BTW, may I ask what part of Europe you are from?

 

[faust]

We are talking about free markets, what does cold war have to do with it?
Socialism and communism are and will forever be a failure

One, you think there is such a thing as free markets, and they don't teach such a utopia even in Economics 101, unless you are from some backwards community college. Two, they don't teach that neither communism is bad philosophy, nor that socialism is bad government system, unless, once again, you are from that same institution.

And, BTW, if pegging Yuan to the $ is so going to kill China, can you please explain why Bush is always pressuring China to unpeg their currency?

 

[maverick]

Two, they don't teach that neither communism is bad philosophy, nor that socialism is bad government system, unless, once again, you are from that same institution.

*cough* middle class *cough*

 

[Alpha Femme]

One, you think there is such a thing as free markets, and they don't teach such a utopia even in Economics 101, unless you are from some backwards community college. Two, they don't teach that neither communism is bad philosophy, nor that socialism is bad government system, unless, once again, you are from that same institution.

And, BTW, if pegging Yuan to the $ is so going to kill China,explain ?

Obviously you have no experience in free markets and what it is. And to answer your "One": The purest form of free markets we have is foreign exchange and commodity markets. And to answer your "Two": I posted in the past books can't teach you anything if you don't understand what you are reading and teachers can't teach if they don't have any experience in the subject, they just repeat what the books tell them. No government system is perfect but the ones that are proven not to be working are socialism and communism. And as for your "BTW", keep it to the subject and stay out of the politics. When it comes to killing their economy, it's simple, once the Yuan is floating freely it will soar to such levels that their export will be cut in pieces.

Have you ever lived in a socialistic/communistic society?

 

[Alpha Femme]

oh btw hanne, that baby is adorable!!!! enjoy her, they sure grow fast! mine is already 5 and i miss that "baby" stage.

 

[tott]

Regarding the failure of socialism, I'd like to point out that the Scandinavian, socialist countries are constantly at the top when UN and other international organisations compare countries when it comes to education, quality of living and so on.