EU Plans to Lessen Reliance on Dollar, Boost Euro to Blunt Financial Risks

[MMC]

you're in quicksand

Been there before. Don't worry we got Air tanks.

[carolina73]

You seem to have forgotten , or never really acknowledged , that the current problems started to impact the economy leading up to the 2008 GFC , and were never corrected. The problems are all still there , gnawing away since then , and growing bigger and bigger . No , the US economy is not very strong and the ever increasing debt is the proof.....even without the substantial effects of the pandemic , the US economy would still be ready to collapse . A perfect storm.....and the printing of money can no longer hide whats coming. Four years of Trump has just made it worse when you factor in the costly trade war and the increasing rejection of the US dollar , because of Trumps abuse of economic sanctions in every region of the global economy........another major problem the US has , is this relentless attack on China by the deepstate , in order to prevent their economy from growing - it's a waist of time and at a huge economic cost , at the worst possible time. As long as the deepstate controls America and the financial and economic events , things will not get better.

Again. Short term pain for long term gain. Obama did not do that and tried to purchase the economy. That is why we had such low growth and such high debt.

But lets not forget that China' real debt is horrendous at over 300 percent of GDP. Investors in China should expect to be nationalized and China to not recognize its debts. The Chinese propaganda team lives in a glass house.

[PJL]

Again. Short term pain for long term gain. Obama did not do that and tried to purchase the economy. That is why we had such low growth and such high debt. But lets not forget that China' real debt is horrendous at over 300 percent of GDP. Investors in China should expect to be nationalized and China to not recognize its debts. The Chinese propaganda team lives in a glass house.

Obama was just the President - he had little control over things , in reality . He did as he was told during the GFC , and bailed out the banks , to further rape the US economy to the benefit of corporations , and it increased under Trump . China's debt to GDP was up in 2019 , to 52.6% , by the way....I think you're pulling figures from thin air , or being misled by false information. China still has plenty of economic levers to pull , if they need to......but business is starting to boom again , regardless of what happens in the US.

[PJL]

........and as Ive been saying for years on this forum , there will be a return to the gold standard , and it's being discussed now by the (self declared) powers that be.........but I think they've left it too late . Necessity and desperation makes for a very poor bargain.

[Peter1469]

........and as Ive been saying for years on this forum , there will be a return to the gold standard , and it's being discussed now by the (self declared) powers that be.........but I think they've left it too late . Necessity and desperation makes for a very poor bargain.

It won't be a gold standard. More likely a basket of commodities.

It would be neat if it were based on the sum total of a nation's wealth- commodities, minerals, etc.

But that would keep the US on top.

[carolina73]

Obama was just the President - he had little control over things , in reality . He did as he was told during the GFC , and bailed out the banks , to further rape the US economy to the benefit of corporations , and it increased under Trump . China's debt to GDP was up in 2019 , to 52.6% , by the way....I think you're pulling figures from thin air , or being misled by false information. China still has plenty of economic levers to pull , if they need to......but business is starting to boom again , regardless of what happens in the US.

https://www.thestreet.com/mishtalk/e...ts-317-percent

The Chinese government lies.

[PJL]

https://www.thestreet.com/mishtalk/e...ts-317-percent The Chinese government lies.

Here's a few quotes from your link : "So you say 317% and Wikipedia says its 48.4%. So - big difference. There is almost nowhere that says China's ratio is even near 100%. So - this must be due to the math of the first quarter in which the GDP was essentially almost ZERO - sol this is a misleading article. The debt to GDP will probably normalize back to below 100% in which case it will be substantially lower than the USA's ratio...just saying...lets put it in context." ................."Who cares what their debt to GDP is. None of this debt is going to be paid back anyways. But China is printing and building infrastructure that is not going to disappear when the inevitable debt collapse occurs. Those buildings, factories , High speed rails and roads will be there after the bankruptcy. The costs will be reset lower. Now try to compete with low cost Chinese labor and no cost factories. The US on the otherhand is printing to shore up financial assets while watching their infrastructure crumble."..................."Economy -Real US debt levels could be 2,000% of economy, a Wall Street report suggests" . I have no idea who this Mish character is pretending to be , but he appears to be about as well informed as you are.....(lol)