R U chicken or turkey? I'm not going to fly away like U..I'm riding this hard time with my dear follows Ah Keang:-} I'm saving very hard..taking shower a la Carte in the double..raising fishs and lobsters @ my swimming pool, no kidding.
Cheers, Pu Keang Chau Ta On Thu, Oct 9, 2008 at 8:30 AM, Pierre Henri de Poipet < [EMAIL PROTECTED]> wrote: > If the US economy collapsed, I would migrate to other places far away > from the US like Hawaii or Alaska or Guam. > > Joe from small town USA > ----- Message d'origine ---- > De : Perom Uch <[EMAIL PROTECTED]> > À : [email protected] > Envoyé le : Mercredi, 8 Octobre 2008, 21h51mn 27s > Objet : Re: Re : It's Official: The Crash of the U.S. Economy has begun! > > > U R lier, only $12 per trade @ Charles Dek Gaule. > > Cheers, > > On Wed, Oct 8, 2008 at 5:04 PM, Pierre Henri de Poipet < > [EMAIL PROTECTED]> wrote: > >> Damned, I withdraw all my money from Charles Schwab (you know, the >> discount broker who charges only $30 per trade) and put them >> under my mattress. >> >> Joe from main street America >> >> ----- Message d'origine ---- >> De : Ông-thu N <[EMAIL PROTECTED]> >> À : [EMAIL PROTECTED]; [email protected]; [EMAIL PROTECTED]; >> CAMBODIAN VETERANS <[EMAIL PROTECTED]> >> Envoyé le : Mardi, 30 Septembre 2008, 18h36mn 36s >> Objet : It's Official: The Crash of the U.S. Economy has begun! >> >> It's official. Mark your calendars. The crash of the U.S. economy has >> begun. It was announced the morning of Wednesday, June 13, 2007, by economic >> writers Steven Pearlstein and Robert Samuelson in the pages of the >> Washington Post, one of the foremost house organs of the U.S. monetary >> elite. >> >> Pearlstein's column was titled, "The Takeover Boom, About to Go Bust" and >> concerned the extraordinary amount of debt vs. operating profits of >> companies currently subject to leveraged buyouts. >> >> In language remarkably alarmist for the usually ultra-bland pages of the >> Post, Pearlstein wrote, "It is impossible to predict when the magic moment >> will be reached and everyone finally realizes that the prices being paid for >> these companies, and the debt taken on to support the acquisitions, are >> unsustainable. When that happens, it won't be pretty. Across the board, >> stock prices and company valuations will fall. Banks will announce painful >> write-offs, some hedge funds will close their doors, and private-equity >> funds will report disappointing returns. Some companies will be forced into >> bankruptcy or restructuring." >> >> Further, "Falling stock prices will cause companies to reduce their hiring >> and capital spending while governments will be forced to raise taxes or >> reduce services, as revenue from capital gains taxes declines. And the >> combination of reduced wealth and higher interest rates will finally cause >> consumers to pull back on their debt-financed consumption. It happened after >> the junk-bond and savings-and-loan collapses of the late 1980s. It happened >> after the tech and telecom bust of the late '90s. And it will happen this >> time." >> >> Samuelson's column, "The End of Cheap Credit," left the door slightly ajar >> in case the collapse is not quite so severe. He wrote of rising interest >> rates, "As the price of money increases, borrowing and the economy might >> weaken. The deep slump in housing could worsen. We could also discover that >> the long period of cheap credit has left a nasty residue." >> >> Other writers with less prestigious platforms than the Post have been >> talking about an approaching financial bust for a couple of years. Among >> them has been economist Michael Hudson, author of an article on the housing >> bubble titled, "The New Road to Serfdom" in the May 2006 issue of Harper's. >> Hudson has been speaking in interviews of a "break in the chain" of debt >> payments leading to a "long, slow economic crash," with "asset deflation," >> "mass defaults on mortgages," and a "huge asset grab" by the rich who are >> able to protect their cash through money laundering and hedging with foreign >> currency bonds. >> >> Among those poised to profit from the crash is the Carlyle Group, the >> equity fund that includes the Bush family and other high-profile investors >> with insider government connections. A January 2007 memorandum to company >> managers from founding partner William E. Conway, Jr., recently appeared >> which stated that, when the current "liquidity environment"—i.e., cheap >> credit—ends, "the buying opportunity will be a once in a lifetime chance." >> >> The fact that the crash is now being announced by the Post shows that it >> is a done deal. The Bilderbergers, or whomever it is that the Post reports >> to, have decided. It lets everyone know loud and clear that it's time to >> batten down the hatches, run for cover, lay in two years of canned food, >> shield your assets, whatever. >> >> Those left holding the bag will be the ordinary people whose assets are >> loaded with debt, such as tens of millions of mortgagees, millions of young >> people with student loans that can never be written off due to the >> "reformed" 2005 bankruptcy law, or vast numbers of workers with 401(k)s or >> other pension plans that are locked into the stock market. >> >> In other words, it sounds eerily like 2000-2002 except maybe on a much >> larger scale. Then it was "only" the tenth worse bear market in history, but >> over a trillion dollars in wealth simply vanished. What makes today's >> instance seem particularly unfair is that the preceding recovery that is now >> ending—the "jobless" one—was so anemic. >> >> Neither Perlstein nor Samuelson gets to the bottom of the crisis, though >> they, like Conway of the Carlyle Group, point to the end of cheap credit. >> But interest rates are set by people who run central banks and financial >> institutions. They may be influenced by "the market," but the market is >> controlled by people with money who want to maximize their profits. >> >> Key to what is going on is that the Federal Reserve is refusing to follow >> the pattern set during the long reign of Fed Chairman Alan Greenspan in >> responding to shaky economic trends with lengthy infusions of credit as he >> did during the dot.com bubble of the 1990s and the housing bubble of >> 2001-2005. >> >> This time around, Greenspan's successor, Ben Bernanke, is sitting tight. >> With the economy teetering on the brink, the Fed is allowing rates to remain >> steady. The Fed claims their policy is due to the danger of rising "core >> inflation." But this cannot be true. The biggest consumer item, houses and >> real estate, is tanking. Officially, unemployment is low, but mainly due to >> low-paying service jobs. Commodities have edged up, including food and >> gasoline, but that's no reason to allow the entire national economy to be >> submerged. >> >> So what is really happening? Actually, it's simple. The difference today >> is that China and other large investors from abroad, including Middle >> Eastern oil magnates, are telling the U.S. that if interest rates come down, >> thereby devaluing their already-sliding dollar portfolios further, they will >> no longer support with their investments the bloated U.S. trade and fiscal >> deficits. >> >> Of course we got ourselves into this quandary by shipping our >> manufacturing to China and other cheap-labor markets over the last >> generation. "Dollar hegemony" is backfiring. In fact China is using its >> American dollars to replace the International Monetary Fund as a lender to >> developing nations in Africa and elsewhere. As an additional insult, China >> now may be dictating a new generation of economic decline for the American >> people who are forced to buy their products at Wal-Mart by maxing out what >> is left of our available credit card debt. >> >> About a year ago, a former Reagan Treasury official, now a well-known >> cable TV commentator, said that China had become "America's bank" and >> commented approvingly that "it's cheaper to print money than make cars >> anymore." Ha ha. >> >> It is truly staggering that none of the "mainstream" political candidates >> from either party has attacked this subject on the campaign trail. All are >> heavily funded by the financier elite who will profit no matter how bad the >> U.S. economy suffers. Every candidate except Ron Paul and Dennis Kucinich >> treats the Federal Reserve like the fifth graven image on Mount Rushmore. >> And even the so-called progressives are silent. The weekend before the >> Perlstein/ Samuelson articles came out, there was a huge progressive >> conference in Washington, D.C., called "Taming the Corporate Giant." Not a >> single session was devoted to financial issues. >> >> What is likely to happen? I'd suggest four possible scenarios: >> >> 1. Acceptance by the U.S. population of diminished prosperity and a >> declining role in the world. Grin and bear it. Live with your parents into >> your 40s instead of your 30s. Work two or three part-time jobs on the >> side, >> if you can find them. Die young if you lose your health care. Declare >> bankruptcy if you can, or just walk away from your debts until they bring >> back debtor's prison like they've done in Dubai. Meanwhile, China buys >> more >> and more U.S. properties, homes, and businesses, as economists close to >> the >> Federal Reserve have suggested. If you're an enterprising illegal >> immigrant, >> have fun continuing to jack up the underground economy, avoid business >> licenses and taxes, and rent out group houses to your friends. >> 2. Times of economic crisis produce international tension and >> politicians tend to go to war rather than face the economic music. The >> classic example is the worldwide depression of the 1930s leading to World >> War II. Conditions in the coming years could be as bad as they were then. >> We >> could have a really big war if the U.S. decides once and for all to haul >> off >> and let China, or whomever, have it in the chops. If they don't want our >> dollars or our debt any more, how about a few nukes? >> 3. Maybe we'll finally have a revolution either from the right or the >> center involving martial law, suspension of the Bill of Rights, etc., >> combined with some kind of military or forced-labor dictatorship. We're >> halfway there anyway. Forget about a revolution from the left. They >> wouldn't >> want to make anyone mad at them for being too radical. >> 4. Could there ever be a real try at reform, maybe even an attempt >> just to get back to the New Deal? Since the causes of the crisis are >> monetary, so would be the solutions. The first step would be for the >> Federal >> Reserve System to be abolished as a bank of issue and a transformation of >> the nation's credit system into a genuine public utility by the federal >> government. This way we could rebuild our manufacturing and public >> infrastructure and develop an income assurance policy that would benefit >> everyone. >> >> The latter is the only sensible solution. There are monetary reformers who >> know how to do it if anyone gave them half a chance. >> >> >> >> >> >> >> > > > > --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Cambodia Discussion (CAMDISC) - www.cambodia.org" group. This is an unmoderated forum. 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