Thread: The strongest economy in the world

Originally Posted by Exit Strategy

Originally Posted by barbaro

For a few years, perhaps 7-8 some countries have slightly shifted away from the US dollar in transactions / and using it as a trading currency.

Can you name those countries?

Of course I can. It's common knowledge. Try google.

Originally Posted by barbaro

, Russia, and other BRICS are, and will likely do the same (in reducing trading and holdings in USD reserves).

There is no "BRICS". These countries are very different and have different agenda. China, industrial giant, has nothing to do with Russia, oil and secondary materials supplier (traditional enemies btv).

Brazil etc will have their time if all goes good for them, or otherwise...

I agree in the sense that "BRICS" is a term invented by a US bank.

Originally Posted by barbaro

Quote:
Originally Posted by Exit Strategy
Quote:
Originally Posted by barbaro
For a few years, perhaps 7-8 some countries have slightly shifted away from the US dollar in transactions / and using it as a trading currency.
Can you name those countries?
Of course I can. It's common knowledge. Try google.

Why not name these countries?

Originally Posted by zygote1

US$400 billion energy supply agreement

Originally Posted by zygote1

As well, both Russia and China intend to transact their annual US$100 billion trade in domestic currency. That's a lot of money.

400bn deal. Yeah. Forex market is 6-7 trillion. A day. That is mostly USD, then EUR YEN GBP. This deal is, as I said, a blip on monitors. Russia has no wealth to influence this. China plays "be friends" game with Russians and fcks Russia up when it suits China. Russians know this but can not do anything - they need the money. China knows Russia knows. It does not matter what currency Russia and China use in their dealings. USD remains.

Originally Posted by zygote1

It would do the world some good to reduce dependence upon the $US.

I maintain it would do the US some good too, at least in a domestic economic sense. But they that run the US (them with the money and arms) are more interested in global hegemony and corporate profitabilty than life on Main St, USA- which has little to do with their lives. Heck, they normally have bodyguards &/or Press corps when they deem it worthy to visit. ("Hey look at me- I'm just a regular Joe enjoying a burger, I mean you can see it on all the news channels right?" Sure, Barry.)

The US, thru' sheer profligacy, precipitates a global financial crisis.
What happens? The USD gets stronger- a so called 'flight to quality'.
Go figure.

Any country with it's own central bank is attacked, if they dare to step out of line, when desired by the global elite . If that doesn't work a change of government is engineered.

^OhOh, that is a good stat.

More car owners fall behind on auto loan payments
Chris Woodyard, USA TODAY, September 9, 2014

More car buyers are falling behind when it comes to payments on their auto loans, a new report says.

The auto loan delinquency rate — borrowers who are at least 60 days behind on their loans — rose to 0.95% in the second quarter, up more than 9% from 0.87% the same quarter a year ago, reports TransUnion, the big credit bureau.

Entire: More car owners fall behind on auto loan payments

And.....

Stressed Borrowers Rattle Resurgent Subprime Lending Industry
By PETER EAVIS SEPTEMBER 11, 2014 8:48 PMSeptember 12, 2014 9:54 am 5 Comments
Photo

In a Subprime Bubble for Used Cars, Borrowers Pay Sky-High Rates (July 29, 2014)
Subprime lenders have surprised everyone in recent years by churning out billions of dollars in loans that have not led to a pileup of bad debts.

But this month, some signs have appeared that suggest subprime lenders are pushing this spree to the limit. The problems are occurring when they extend credit to particularly risky borrowers or make loans that are harder to repay.

Entire: http://dealbook.nytimes.com/2014/09/...s&emc=rss&_r=0

The difference between the spin and the actuality.

Can you specify the red and green, OhOh? Thanx.

Actual production is red; the PMI manufacturing Survey is green?

Then, it's not a valid / real survey, is it? It's bullshit put out by one organization.

Where did this line graph come from? What are the dates?


Cheers.

The Green line is as you have deduced the "survey data", presented the day before the "actual data", the red line, was announced.

Why the "survey data" is so different from the reported "actual data" is the question to be answered.

http://www.zerohedge.com/news/2014-0...ggest-drop-jan

"But but but... the survey all said record highs... Yet another piece of hard data hits the tape and disappoints. While Fed surveys point to an exuberant economy, Industrial Production fell 0.1% in August (missing +0.28% expectations) for its worst print since January's "weather"-related plunge. This comes on the heels of Chinese Industrial Production at its worst in 6 years... perhaps explaining why global GDP expectations continue to test cycle lows. US Capacity Utilization also dropped to 78.8% (lowest since Feb) and the weakness was all Manufacturing driven as production slumped 0.4% MoM - its worst since Jan. So who you gonna believe? Soft surveys? or Hard data?"

Or whether we should believe either of them.

^ Cheers for elucidating.

Originally Posted by OhOh

Or whether we should believe either of them.

Can't believe either of them. How do you validate the data reported is unbiased and true, neither hand-picked nor manipulated. Current and completed - we always seem to be "revising" the original data.

God forbid the truth comes out. But, even if it did, would it be of consequence?

Originally Posted by bowie

But, even if it did, would it be of consequence?

Managing perceptions and moulding opinion spring to mind.

Henry Ford always employed many people and paid a living wage. It enabled his employees to buy things, like a car! Seems it's changing.

As many people consider that their most valuable and increasing financial "asset" is their home, this chart of US house price movement indicates unless you are in the $1,000,000+ bracket life is getting a little glummer.

http://www.zerohedge.com/news/2014-0...very-one-chart

Petrodollar Panic? China Signs Currency Swap Deal With Qatar & Canada

The march of global de-dollarization continues. In the last few days, China has signed direct currency agreements with Canada becoming North America's first offshore RMB hub, which CBC reports analysts suggest "could double maybe even triple the level of Canadian trade between Canada and China," impacting the need for Dollars.But that is not the week's biggest Petrodollar precariousness news, as The Examiner reports, a new chink in the petrodollar system was forged as China signed an agreement with Qatar to begin direct currency swaps between the two nations using the Yuan, and establishing the foundation for new direct trade with the OPEC nation in the very heart of the petrodollar system. As Simon Black warns, "It’s happening... with increasing speed and frequency."

As CBC reports,






Authorized by China's central bank, the deal will allow direct business between the Canadian dollar and the Chinese yuan, cutting out the middle man — in most cases, the U.S. dollar.



Canadian exporters forced to use the American currency to do business in China are faced with higher currency exchange costs and longer waits to close deals.



"It's something the prime minister has been talking about. He wants Canadian companies, particularly small- and medium-sized businesses, doing more and more work in China, selling goods and services there," said CBC's Catherine Cullen, reporting from Beijing.

Sovereign Man's Simon Black has some ominous thoughts on Canada's move...






It’s happening. With increasing speed and frequency.



The People’s Bank of China and the Canadian Prime Minister’s office issued a statement on Saturday stating that Canada will establish North America’s first offshore renminbi trading center in Toronto.



China and Canada agreed on a number of measures to increase the use of renminbi in trade, business, and investment. And they further signed a 200-billion renminbi bilateral currency swap agreement.



Moreover, just today, hot off the presses, the central banks of China and Malaysia announced the establishment of renminbi clearing arrangements in Kuala Lumpur, which will further increase the use of renminbi in South-East Asia.



This comes just two weeks after Asia’s leading financial center, Singapore, became a major renminbi hub, with direct convertibility established between the Singapore dollar and the renminbi.

Petrodollar Panic? China Signs Currency Swap Deal With Qatar & Canada | Zero Hedge

Full article in the link if interested.

. . . you harp on one issue yet you happily forget all the positives . . .

Welcome back, BM

Originally Posted by OckerRocker

. . . you harp on one issue yet you happily forget all the positives . . .

Welcome back, BM

Name just one positive that's come about since the Obama Messiah became POTUS

I dont believe the student poverty statistic.

On another note, the greenback is strong - for now.

In response to a red I received with the comment "retard," that statistics on poverty in the US have been debated for some time.

How about qualifying for food stamps? (SNAP program)? Is that an accurate mean test to qualify that some cannot afford food?

I know people using SNAP/Food stamps who doing OK financially.