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[malimbar04]

First off, the debt owed to china, while large, is still a small portion of the overall debt, most of which is owed to american citizens. Second, the yuan isn't going to start dropping; it's already artificially devalued by China to both make their factories the cheapest available (encouraging multinational corps to drop production elsewhere and start hiring them) and to discourage their peasantry from having any foreign purchasing power, like what would be required to leave China, thus aiding in keeping them oppressed. China is quite literally the Wal-Mart of countries: they're a corrupt, psychotically conservative nation that oppresses their "employees," cuts every corner to reduce their expenses, and drops their prices as low as they can while still operating just to drive everyone else out of business.

Isn't Walmart a luxury brand in China? I heard that somewhere.

BTW, it's interesting to know that china buying debt is not quite as big as some people think it is. I had to look it up, but it breaks down to something like this (rounded):
Total: ~13,500,000,000,000
Private investors: 8 trillion
Federal Reserve: 1 trillion
Foreign investors: 4.5 trillion (~1-2 trillion is china)

[FuzzyZergling]

Please don't insult Walmart, I love that place.

[blackmagechill]

Wal-mart would be a better store i it was actually organized and not a hulking giant.

[Tellemurius]

Please don't insult Walmart, I love that place.

very cheap place with the cheapest chinese products. quantity over quality.

[de5me7]

britains doing well. during the last recession with maggy thatcher we fudged up our production industry, and now this time, were wipeing everything else out. why? because our government dosent seem to comprehend why slowing down cuts would be better than just making everyone homeless and miserable and on the doll

i like my country. but we have bafoons in power. ide have preferd labour getting in xP

correction, there will be no dole, as our great leader will be cutting it.



my understanding, which may be incorrect is as follows;

UK - quite big deficit (i forget how mucv) owed mostly to uk persons and business, but going through austerity measures (which in some peoples views are politically rather than economically motivated). Our economy like the US (but unlike austraillias) is closley linked to the housing market. House prices rise faster than inflation and average wage rises, steadily pricing people out of the market until it collapses starting a recession. When recession starts dodgy loans fall through (hello big banks lending at estmated future earnings rather than real figures). Banks start to fail, need to be saved by government in order to prevent loads of business and peoples savings being lost (like in iceland). Our leaders pour billions in to the bnaks and quantative easing, and cut vat in order to; get banks loaning money to generate new business, and get people to go and buy stuff. Our economy basically runs on a; if everyone thinks everythings ok it will be system.

Ireland - Its banks lent more money than existed in the country, people couldnt repay their debts, and thu their economy imploded.

Greece, had a state retriment age at something silly like 50, and if you had multiple jobs you could collect multiple state pensions, so loads of people hopped jobs to cream the system, worked up huge deficit and crashed

Euro zone (this is countries in europe that use the euro currency) is now bailing out greece and ireland, and may soon have to help spain and portuagal.

China, didnt go into recession, and mostly according to the news here is as Pseudo says, their currency is undervalued so they can export goods very cheaply, also they are closing in monopolies on some resources e.g. rare earth metals, and have cheap labour.


also, according to cricket comentators, londons NYE fireworks were better than sydneys, thus we beat the aussies at fireworks aswell as cricket.

[Karakzon]

ah, the dol isent getting abolished. people will have to work government dictated jobs for free or lose it.
thats the new system their putting in.

[Akura]

ah, the dol isent getting abolished. people will have to work government dictated jobs for free or lose it.
thats the new system their putting in.

Don't I fucking know it .

Speaking of the US Dept. of Labor, I'm doing this thing in which I have to apply for 20 jobs in a week, for three weeks, and have already done this before. 40 pages of job postings later, one one application in. The rest were beyond my skills, inaccessible applications, scams, and a few pretty ridiculous postings(anyone here a pharmaceutical researcher, or aircraft engineer?).

[EmperorNuthulu]

 You know how the dwarf fortress economy is broken? That's nothing, come to Wales, the economy here is almost non existant.

[Zrk2]

Which is better than the DF one.

[AntiAntiMatter]

The U.S. economy will eventually crash and burn, permanently, and with luck, people will realize that free-market capitalism doesn't work on this scale, and reform as a socialist nation with minimal amounts of capitalism and heavy restrictions on private enterprise. Hah!

[mainiac]

The US had a very successful bout of capitalism running from 1936 to around 1970 or so.  The great depression had taught everyone that capitalism only works when the rich and powerful have to do what the government wants and not the other way around.  The economy was stable and grew quickly while the government kept any huge distortions from cropping up to disrupt the balance.  Sadly, we forgot these lessons so we are likely to go back to the pre-1936 pattern of having a debilitating depression every 30 years or so and anemic growth in between.

[AntiAntiMatter]

The US had a very successful bout of capitalism running from 1936 to around 1970 or so.  The great depression had taught everyone that capitalism only works when the rich and powerful have to do what the government wants and not the other way around.  The economy was stable and grew quickly while the government kept any huge distortions from cropping up to disrupt the balance.  Sadly, we forgot these lessons so we are likely to go back to the pre-1936 pattern of having a debilitating depression every 30 years or so and anemic growth in between.

This is why I hate the stupidity that is embodied in half all of our politicians.
EDIT:Zrk2 raised a good point.

[Zrk2]

The US had a very successful bout of capitalism running from 1936 to around 1970 or so.  The great depression had taught everyone that capitalism only works when the rich and powerful have to do what the government wants and not the other way around.  The economy was stable and grew quickly while the government kept any huge distortions from cropping up to disrupt the balance.  Sadly, we forgot these lessons so we are likely to go back to the pre-1936 pattern of having a debilitating depression every 30 years or so and anemic growth in between.

This is why I hate the stupidity that is embodied in all of our politicians.

Fixed.

[mainiac]

Quite a few of the politicians are less stupid then they act, but just have to play along to appease the voters.  The fact is that if we'd been as stupid as the voters wanted, we'd be a radioactive wasteland by now.

[Duelmaster409]

Spoiler (click to show/hide)

Not really, though