On Sat, Nov 21, 2009 at 2:34 PM, Pete Theisen <[email protected]> wrote: > Publius Maximus wrote: > >> phony dollar carry trade asset bubble > > Hi Bob, > > Buzzphrase alert! > > What in hell is a phony dollar carry trade asset bubble?
<http://unchartedterritory.wordpress.com/2009/11/02/the-great-carry-trade-iii-nouriel-roubini-frets-about-us-and-a-bit-on-japan/> and <http://www.zerohedge.com/article/pot-meet-kettle-china-blasts-bernanke-promoting-another-asset-bubble-dollar-carry-trade> On the other hand Ambrose Evans-Pritchard makes a great point about China's equally disastrous currency policy: <http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6575883/China-has-now-become-the-biggest-risk-to-the-world-economy.html> what a cocktail mix. This whole international interdependence thing is total hogwash. BTW I perked up at the following paragraphs in Evans-Pritchard's article: - - - It is fashionable to talk of America as the supplicant. That misreads the strategic balance. Washington can bring China to its knees at any time by shutting markets. There is no symmetry here. Any move by Beijing to liquidate its holdings of US Treasuries could be neutralized – in extremis – by capital controls. Well-armed sovereign states can do whatever they want. If provoked, the US has the economic depth to retreat into near autarky (with NAFTA) and retool its industries behind tariff walls – as Britain did in the 1930s under Imperial Preference. In such circumstances, China would collapse. Mao statues would be toppled by street riots. - - - Why don't we just get on with this policy? From 1789-1913, it made us an economic colossus. The Dems really could wipe the Republicans out for generations if they did. This is why neither party is actually conservative or cares one whit for the Republic and its Constitution. Long since time to get back to the idea of national Independence. We really have stumbled by ignoring Washington's farewell warning. - Publius > -- > Regards, > > Pete > http://pete-theisen.com/ > http://elect-pete-theisen.com/ > [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
