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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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China Severs Its Currency's Link to Dollar
On 21 Jul 2005 08:52:32 -0700, "DL" wrote:
http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. -- Cliff |
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And you're sure about this about as sure as you have been about
everything else, right? What do I get when you're proven to be an idiot again as you always have been? ral Cliff wrote: On 21 Jul 2005 08:52:32 -0700, "DL" wrote: http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. -- Cliff |
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Cliff wrote:
On 21 Jul 2005 08:52:32 -0700, "DL" wrote: http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. More left wing bull****. I knew the Bush haters would try to twist this as being "bad" for our economy, when in reality it is good. US exports to China will increase, bringing new jobs, a stronger dollar, and a lower trade deficit. This is great news for the strengthening American economy ... suck it up Bush haters, the economic recovery is continuing at a record pace. |
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"Graham Wellington" wrote in message nk.net... Cliff wrote: On 21 Jul 2005 08:52:32 -0700, "DL" wrote: http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. More left wing bull****. I knew the Bush haters would try to twist this as being "bad" for our economy, when in reality it is good. US exports to China will increase, bringing new jobs, a stronger dollar, and a lower trade deficit. This is great news for the strengthening American economy This seems to me to be the likeliest result. It may cause some inflationary pressure, but the decreased disparity in the balance of trade with China should be good for the economy. Jeff |
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All I know is that prices will be going up at Harbor Freight...
"Jeffrey McCann" wrote in message ... "Graham Wellington" wrote in message nk.net... Cliff wrote: On 21 Jul 2005 08:52:32 -0700, "DL" wrote: http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. More left wing bull****. I knew the Bush haters would try to twist this as being "bad" for our economy, when in reality it is good. US exports to China will increase, bringing new jobs, a stronger dollar, and a lower trade deficit. This is great news for the strengthening American economy This seems to me to be the likeliest result. It may cause some inflationary pressure, but the decreased disparity in the balance of trade with China should be good for the economy. Jeff |
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On Thu, 21 Jul 2005 22:14:32 GMT, the renowned "Emmo"
wrote: All I know is that prices will be going up at Harbor Freight... They'll probably just eat it (so far). Gas prices in China should be on the way down. Best regards, Spehro Pefhany -- "it's the network..." "The Journey is the reward" Info for manufacturers: http://www.trexon.com Embedded software/hardware/analog Info for designers: http://www.speff.com |
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This was just eye wash to let the Shrub claim he is doing something. A 2%
adjustment when the RMB is 30% to 40% undervalued will not mean anything at all. Now that it is pegged to a bundle of currencies the US$ would have to crash before it would make any difference. Which may happen. With the deficits we have been running the dollar has already lost 30% of its value against the Euro and the Pound. Before the Shrub's tax cut one Euro was worth $1.17. Today it is worth $0.82. For the RMB to be at its proper value the US$ would have to drop to $0.50 against the Euro. Pretty soon we will not be able to afford anything but the cheap **** from China. -- Glenn Ashmore I'm building a 45' cutter in strip/composite. Watch my progress (or lack there of) at: http://www.rutuonline.com Shameless Commercial Division: http://www.spade-anchor-us.com "Jeffrey McCann" wrote This seems to me to be the likeliest result. It may cause some inflationary pressure, but the decreased disparity in the balance of trade with China should be good for the economy. |
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On Thu, 21 Jul 2005 18:34:15 -0400, "Glenn Ashmore"
wrote: With the deficits we have been running the dollar has already lost 30% of its value against the Euro and the Pound. Before the Shrub's tax cut one Euro was worth $1.17. Today it is worth $0.82. I smell a small math problem. -- Cliff |
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Graham Wellington wrote: Cliff wrote: On 21 Jul 2005 08:52:32 -0700, "DL" wrote: http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. More left wing bull****. I knew the Bush haters would try to twist this as being "bad" for our economy, when in reality it is good. US exports to China will increase, bringing new jobs, a stronger dollar, and a lower trade deficit. This is great news for the strengthening American economy ... suck it up Bush haters, the economic recovery is continuing at a record pace. There is indication that there was a specific purpose of strengthening the Chinese dollar relative to the US and it's ever falling value. China *Needs* energy resources, especially oil..this puts them on a far better playing field to purchase the oil that we are currently sucking. The effect on trade deficits will probably be minimal but it puts them first in line to be able to bid high on the oil that the US is currently getting. This is a REAL threat to our national security. The Bush policies are to suck more oil wherever they can get it.....when we are second in line (along with that tanker of oil, we'll send you a few missiles to sweeten the deal) or the dollar devaluates, making oil prices rise even more, we are in deep doo-doo. Bush and most of his administration are so knee deep in crude that they can't see anything other than the billions in profit from maintaining the status quo. NASA....should be National Atmospheric and SCIENCE administration with a mandate to increase technologies of energy efficiency, seek alternate energies and therefore increase national security through increasing independence from outside energy sources. I'd rather **** billions down a long shot energy toilet (which may have a stupendous reward) than **** em away going to Mars or on an outdated space tenement. Koz |
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On 21 Jul 2005 22:38:08 GMT, the renowned D Murphy
wrote: Cliff wrote in news:4h10e1dro8n9g08eojpu7q6scknsulfico@ 4ax.com: On 21 Jul 2005 08:52:32 -0700, "DL" wrote: http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. Hmmm. The Cinese are going to take a 2%+ hit on hundreds of billions of dollars just to make everyone happy. I'm sure they'll keep on loaning us money to buy their cheap crap. What other choice do they have? Europe is an economic black hole, and they aren't likely to open their markets up to cheap Cinese goods. The EU is currently a bigger market for Chinese goods than the US (but the US is a somewhat bigger market than Japan). http://www.businessweek.com/ap/finan...=apn_home_down Best regards, Spehro Pefhany -- "it's the network..." "The Journey is the reward" Info for manufacturers: http://www.trexon.com Embedded software/hardware/analog Info for designers: http://www.speff.com |
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Richard Lewis wrote: And you're sure about this about as sure as you have been about everything else, right? What do I get when you're proven to be an idiot again as you always have been? ral Here is more proof that Cliff is an idiot. First: Cliff uses the word idiot on such a frequent basis that he must know what he has become. Cliff often brings up his massive reading comprehension problem. His health is in question as he now seems to live on snickers bars and is totally obsessed with them. Second: Cliff can't even figure out / accept that Tesla's lab still exists. http://www.teslascience.org/ "Welcome to the home page of The Tesla Wardenclyffe Project. Our mission is the preservation and adaptive reuse of Wardenclyffe, the century-old laboratory of electrical pioneer Nikola Tesla located in Shoreham, Long Island, New York." "We are presently working in cooperation with the Long Island based group Friends of Science East, to preserve this one remaining monument to Nikola Tesla's engineering legacy" "Our specific goals a Placement of the 16 acre site on the National Register of Historic Places Restoration of the building and stabilization of the tower foundation conversion of the site into a science museum complex to be known as the Tesla Museum and Science Center at Wardenclyffe." jon |
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"Glenn Ashmore" wrote in message news:FpVDe.175918$sy6.52418@lakeread04... This was just eye wash to let the Shrub claim he is doing something. A 2% adjustment when the RMB is 30% to 40% undervalued will not mean anything at all. Now that it is pegged to a bundle of currencies the US$ would have to crash before it would make any difference. Which may happen. With the deficits we have been running the dollar has already lost 30% of its value against the Euro and the Pound. Before the Shrub's tax cut one Euro was worth $1.17. Today it is worth $0.82. For the RMB to be at its proper value the US$ would have to drop to $0.50 against the Euro. Pretty soon we will not be able to afford anything but the cheap **** from China. -- Glenn Ashmore I'm building a 45' cutter in strip/composite. Watch my progress (or lack there of) at: http://www.rutuonline.com Shameless Commercial Division: http://www.spade-anchor-us.com Glenn, is cutting the "Yuan" loose from the dollar a bad thing? What about the other Chinese currency? How is it effected and how do both currencies interact in the world economy? |
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Emmo wrote: All I know is that prices will be going up at Harbor Freight... They have changed their name to more refect the products they sell. The new name is: Garbage Freight. jon |
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"Emmo" wrote in message ... All I know is that prices will be going up at Harbor Freight... Oh MY Gawd--IM SOooooo dissapointed.... Perhaps exactly the stimulus that's needed for to steer them and walmart and many others into an out of control downward spiral towards their deaths... -- SVL |
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In article , Ignoramus19508 says...
I am not terribly interested in who is to blame, although it is impossible not to recognize that the present administration made an unforced decision to become involved in an unneeded, expensive foreign misadventure, as well as reduce taxes to those who supported it financially. Something that is not affordable to the society in the present deficit environment. If you don't recognize who's responsible for the mess, then there's no hope of fixing it. This is like saying, "oh well, one of the kids crashed the family car. Let's not point fingers and fix blame." Wrong. We *need* that car. We *need* to find out why they can't drive, and make sure they don't get behind the wheel until they prove they're skilled and responsible. And until they've paid off the damage they've done. Otherwise they're just going to keep right on destroying the family property. Basically we have a bunch of out-of-control drunk teenagers running our country's fiscal matters. Jim -- ================================================== please reply to: JRR(zero) at pkmfgvm4 (dot) vnet (dot) ibm (dot) com ================================================== |
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All I know is that if it wasn't for Harbor Freight tools, I wouldn't have no
tools at all... Off the top of my head: drill press, horizontal bandsaw, multiple grinders, blast cabinet, bender, ring roller, air cut-off tool, air drill, hammer drill, rechargeable drill, palm sander, face shield, welding gloves, dead blow hammer, sockets, IR impact driver, power planer, strap wrench, corner clamp, welding cart, magnetic clamps, bolt cutters, letter punches, soapstone markers, Adirondack chairs, grease gun, movers' dolly, pickax, machete, pliers, air shear, air regulator, air hoses, hose reels, lots of clamps, GFI outlets, ear protectors, sand blaster, two wheeler, car dollys, floor jack, fountain pumps, flare wrenches, knee pads, and on and on... "jon_banquer" wrote in message oups.com... Emmo wrote: All I know is that prices will be going up at Harbor Freight... They have changed their name to more refect the products they sell. The new name is: Garbage Freight. jon |
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"Emmo" wrote in message ... "jon_banquer" wrote in message oups.com... Emmo wrote: All I know is that prices will be going up at Harbor Freight... They have changed their name to more refect the products they sell. The new name is: Garbage Freight. All I know is that if it wasn't for Harbor Freight tools, I wouldn't have no tools at all... Off the top of my head: drill press, horizontal bandsaw, multiple grinders, blast cabinet, bender, ring roller, air cut-off tool, air drill, hammer drill, rechargeable drill, palm sander, face shield, welding gloves, dead blow hammer, sockets, IR impact driver, power planer, strap wrench, corner clamp, welding cart, magnetic clamps, bolt cutters, letter punches, soapstone markers, Adirondack chairs, grease gun, movers' dolly, pickax, machete, pliers, air shear, air regulator, air hoses, hose reels, lots of clamps, GFI outlets, ear protectors, sand blaster, two wheeler, car dollys, floor jack, fountain pumps, flare wrenches, knee pads, and on and on... And my bets absolutely none of it has done one ****ing bit of good so far as improving the US economy..... The fact is more likely it has all had a net negative effect. Do enjoy the high fuel prices and you have lots of fun if you ever need to use these substandard 'tools' in order to make a living wage for yourself -- SVL |
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Cliff wrote: On 21 Jul 2005 08:52:32 -0700, "DL" wrote: http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. -- Cliff http://www.washingtonpost.com/wp-dyn...1/AR200507210= 2091.html China's Currency Move Friday, July 22, 2005; Page A22 THE UNITED States and China are at loggerheads on several fronts: China's military buildup, its piracy of intellectual property, its human rights abuses. But one potential flash point has been managed successfully so far, to the credit of the Bush administration. Treasury Secretary John W. Snow has persuaded Congress to shelve bad legislation that would slap tariffs on China to punish it for maintaining an undervalued currency. Meanwhile, Mr. Snow has urged the Chinese to reform their currency policy for their own good. Yesterday China took a first step in that direction, abandoning a decade-old policy of pegging the yuan to the dollar. China's move is too cautious to do more than dent its trade surplus, much less cure the alarming U.S. trade deficit. The yuan will now be worth 2 percent more, in dollar terms, than before the announcement; the monthly wage of a Chinese factory worker will move from, say, $100 to $102, a trivial difference. Even so, China's announcement is symbolically important. With China having shown itself capable of one currency move, further adjustments now seem more likely. In time, the policy of pegging the currency may give way to a more flexible, market-driven "float." This is the right direction to head in. Allowing the currency to float would strengthen China's ability to manage its own economy, softening the recent pattern of inflationary booms followed by painful slowdowns. From the global perspective, the stakes are even higher. In the past decade or so, the world has come to rely on the United States to drive economic growth. Both the U.S. government and American consumers have borrowed to spend lavishly, and the spending has stimulated not only the U.S. economy but also export-driven growth elsewhere. Meanwhile, European and Japanese demand for American goods isn't expanding fast because those economies are sluggish. But the real puzzle is beyond Japan, in the rest of Asia. The region grew an astonishing 8 percent last year, a rate that would normally be expected to entail surging demand for imports. But the Asians continued to run a large trade surplus. Their growth was based on sizzling U.S. demand, not on demand from their own consumers. This is not sustainable. Americans cannot go on borrowing from Asians to buy Asian goods forever. To fix this imbalance, Americans have to sell more goods and Asians have to consume more. Raising the value of Asian currencies is one mechanism to achieve this: It makes American goods more competitive and Asian consumers richer. China's cautious decision yesterday has already been emulated by Malaysia; other Asian countries, which have felt unable to revalue against the dollar for fear that they would lose competitiveness vis-=E0-vis China, may now reconsider. Whether they do may depend on whether China builds on its move with further revaluations in the next few months. Having taken the first step, China's leaders must have the courage to keep walking. :/ |
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Emmo wrote: All I know is that if it wasn't for Harbor Freight tools, I wouldn't have no tools at all... Off the top of my head: drill press, horizontal bandsaw, multiple grinders, blast cabinet, bender, ring roller, air cut-off tool, air drill, hammer drill, rechargeable drill, palm sander, face shield, welding gloves, dead blow hammer, sockets, IR impact driver, power planer, strap wrench, corner clamp, welding cart, magnetic clamps, bolt cutters, letter punches, soapstone markers, Adirondack chairs, grease gun, movers' dolly, pickax, machete, pliers, air shear, air regulator, air hoses, hose reels, lots of clamps, GFI outlets, ear protectors, sand blaster, two wheeler, car dollys, floor jack, fountain pumps, flare wrenches, knee pads, and on and on... Why is used not an option ? How about pawn shops ? Newspaper ads ? Why would anyone choose to buy IR tools at Garbage Freight ? You can buy IR tools much cheaper on-line. You can't make your own welding cart with the crap you got at Garbage Freight ? I'm sure you saved a ton on soapstone markers.... please. jon |
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In article .com,
jon_banquer wrote: Emmo wrote: All I know is that if it wasn't for Harbor Freight tools, I wouldn't have no tools at all... Off the top of my head: drill press, horizontal bandsaw, multiple grinders, blast cabinet, bender, ring roller, air cut-off tool, air drill, hammer drill, rechargeable drill, palm sander, face shield, welding gloves, dead blow hammer, sockets, IR impact driver, power planer, strap wrench, corner clamp, welding cart, magnetic clamps, bolt cutters, letter punches, soapstone markers, Adirondack chairs, grease gun, movers' dolly, pickax, machete, pliers, air shear, air regulator, air hoses, hose reels, lots of clamps, GFI outlets, ear protectors, sand blaster, two wheeler, car dollys, floor jack, fountain pumps, flare wrenches, knee pads, and on and on... Why is used not an option ? How about pawn shops ? Newspaper ads ? Why would anyone choose to buy IR tools at Garbage Freight ? You can buy IR tools much cheaper on-line. Americans can no longer afford Harbor Freight prices. This is why the yuan was revalued against the dollar. Harbor Freight is moving to countries where their currency has not been so devalued. Maybe Iraqi ragheads will bail out the ******ized dollar. --Tim May |
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On Thu, 21 Jul 2005 18:34:15 -0400, "Glenn Ashmore"
wrote: This was just eye wash to let the Shrub claim he is doing something. A 2% adjustment when the RMB is 30% to 40% undervalued will not mean anything at all. Now that it is pegged to a bundle of currencies the US$ would have to crash before it would make any difference. Which may happen. With the deficits we have been running the dollar has already lost 30% of its value against the Euro and the Pound. Before the Shrub's tax cut one Euro was worth $1.17. Today it is worth $0.82. For the RMB to be at its proper value the US$ would have to drop to $0.50 against the Euro. Pretty soon we will not be able to afford anything but the cheap **** from China. Hey Glenny...wernt you one of the dooom and gloomers who claimed Bush was tanking the economy? 5% unemployment...the Dept of labor says there will soon be a shortage of skilled labor....and its all Bush's fault. Snivel... Snicker Gunner "Pax Americana is a philosophy. Hardly an empire. Making sure other people play nice and dont kill each other (and us) off in job lots is hardly empire building, particularly when you give them self determination under "play nice" rules. Think of it as having your older brother knock the **** out of you for torturing the cat." Gunner |
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"Gunner" wrote in message ... On Thu, 21 Jul 2005 18:34:15 -0400, "Glenn Ashmore" wrote: This was just eye wash to let the Shrub claim he is doing something. A 2% adjustment when the RMB is 30% to 40% undervalued will not mean anything at all. Now that it is pegged to a bundle of currencies the US$ would have to crash before it would make any difference. Which may happen. With the deficits we have been running the dollar has already lost 30% of its value against the Euro and the Pound. Before the Shrub's tax cut one Euro was worth $1.17. Today it is worth $0.82. For the RMB to be at its proper value the US$ would have to drop to $0.50 against the Euro. Pretty soon we will not be able to afford anything but the cheap **** from China. Hey Glenny...wernt you one of the dooom and gloomers who claimed Bush was tanking the economy? 5% unemployment...the Dept of labor says there will soon be a shortage of skilled labor....and its all Bush's fault. Snivel... Snicker Curious--is flippin burgers now being considered 'skilled' these days or not ??? -- SVL |
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Well, I've been out of work for 17 months. I spent the previous 23 years in
software marketing, but there isn't much call for that anymore, between open source, Microsoft, and India. Not sure how China plays into this issue, but I'm certainly sensitive to people losing their jobs when they vanish from this country. I'm not so clear on what I'm going to do now, myself... I don't think oil or the value of the dollar are very relevant though... And my bets absolutely none of it has done one ****ing bit of good so far as improving the US economy..... The fact is more likely it has all had a net negative effect. Do enjoy the high fuel prices and you have lots of fun if you ever need to use these substandard 'tools' in order to make a living wage for yourself -- SVL |
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In article , Emmo
wrote: Well, I've been out of work for 17 months. I spent the previous 23 years in software marketing, but there isn't much call for that anymore, between open source, Microsoft, and India. Not sure how China plays into this issue, but I'm certainly sensitive to people losing their jobs when they vanish from this country. I'm not so clear on what I'm going to do now, myself... Flipping burgers pays $6.75. Serving double double decafes with a twist of lemon pays $8.35, plus all the tips you can grovel for (split with the storeowner, 30-70, of course). If you're a negro or a Mexican, you can be paid to stay at home and breed, watch t.v., etc. This is the country liberals voted for. --Tim May |
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Gunner wrote:
On Thu, 21 Jul 2005 18:34:15 -0400, "Glenn Ashmore" wrote: This was just eye wash to let the Shrub claim he is doing something. A 2% adjustment when the RMB is 30% to 40% undervalued will not mean anything at all. Now that it is pegged to a bundle of currencies the US$ would have to crash before it would make any difference. Which may happen. With the deficits we have been running the dollar has already lost 30% of its value against the Euro and the Pound. Before the Shrub's tax cut one Euro was worth $1.17. Today it is worth $0.82. For the RMB to be at its proper value the US$ would have to drop to $0.50 against the Euro. Pretty soon we will not be able to afford anything but the cheap **** from China. Hey Glenny...wernt you one of the dooom and gloomers who claimed Bush was tanking the economy? 5% unemployment...the Dept of labor says there will soon be a shortage of skilled labor....and its all Bush's fault. Snivel... Snicker Gunner LOL. This thing with the Yuan is bad news for all the Bush haters. They can't stand it when something good happens to strengthen our economy. They want to see the economy collapse because they are all losers who can't compete in a free market, and they are jealous of those of us who are succeeding.These are probably the same losers who flip me off when I'm driving around in my $72,000 customized Hummer. They can't stand to see someone else who is more successful than they are. Well, suck it up losers. There's plenty of money to be made in this economy, and you guys make it easier for the rest of us. It just shows what losers you are, that you can't be successful and make money in the wealthiest nation on the face of the earth. |
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In article ,
Ignoramus19508 wrote: Given the difficulty of reducing deficits in the present situation (a hopeless expensive war, plundering of the budget to pay off various constituencies etc), I cannot see anything other that fall of the value of the dollar as being able to address the disequilibrium. Consequently, I and my family bought a sensible quantity of euros back in 2003. The idea sounds attractive, but why do you trust European politicians more than US politicians? Maybe Swiss Franks or gold? -- Free men own guns, slaves don't www.geocities.com/CapitolHill/5357/ |
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On 21 Jul 2005 18:33:35 -0700, "jon_banquer"
wrote: Richard Lewis wrote: And you're sure about this about as sure as you have been about everything else, right? What do I get when you're proven to be an idiot again as you always have been? ral Here is more proof that Cliff is an idiot. First: Cliff uses the word idiot on such a frequent basis I can sure spot a few G. that he must know what he has become. Cliff often brings up his massive reading comprehension problem. This is bound to get good VBG. His health is in question as he now seems to live on snickers bars and is totally obsessed with them. snicker Second: Cliff can't even figure out / accept that Tesla's lab still exists. http://www.teslascience.org/ "Welcome to the home page of The Tesla Wardenclyffe Project. Our mission is the preservation and adaptive reuse of Wardenclyffe, the century-old laboratory of electrical pioneer Nikola Tesla located in Shoreham, Long Island, New York." The lab is long gone. Parts of a building remain as do foundations for the long gone tower. "We are presently working in cooperation with the Long Island based group Friends of Science East, to preserve this one remaining monument to Nikola Tesla's engineering legacy" "Our specific goals a Placement of the 16 acre site on the National Register of Historic Places Restoration of the building Oops ... there's that building again. and stabilization of the tower foundation Oops ... and the long gone tower's foundation ... conversion of the site into a science museum complex to be known as the Tesla Museum and Science Center at Wardenclyffe." Yep. So? No lab. No reconstructed tower. No plans. No equipment for the "lab" either. jon [ Main Entry: lab·o·ra·to·ry Pronunciation: 'la-b(&-)r&-"tOr-E, -"tor- sometimes 'la-b&(r)-" or l&-'bor-&-", British usually l&-'bär-&-t(&-)rE Function: noun Inflected Form(s): plural -ries Usage: often attributive Etymology: Medieval Latin laboratorium, from Latin laborare to labor, from labor Date: 1605 1 a : a place equipped for experimental study in a science or for testing and analysis; broadly : a place providing opportunity for experimentation, observation, or practice in a field of study b : a place like a laboratory for testing, experimentation, or practice the laboratory of the mind 2 : an academic period set aside for laboratory work ] No equipment. No tower. All long gone. No plans either ... Not a lab. Juat a building needing work to "restore" and an old foundation. What an idiot G. -- Cliff |
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On Thu, 21 Jul 2005 15:56:24 -0700, Koz
wrote: NASA....should be National Atmospheric and SCIENCE administration with a mandate to increase technologies of energy efficiency, seek alternate energies The neocons & wingers have blocked this at every turn it seems, once you look past their smoke & newspeak. The secret Cheney energy plan is still a deep dark secret AFAIK. Higher oil prices do mean much higher profits for some though ... firms like Enron was & Halliburton is, among others. -- Cliff |
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On 21 Jul 2005 21:25:04 -0700, "jon_banquer"
wrote: How about pawn shops ? Thinking of leaving Kinko's again? -- Cliff |
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On Thu, 21 Jul 2005 21:41:32 -0700, "PrecisionMachinisT"
wrote: "Gunner" wrote in message .. . On Thu, 21 Jul 2005 18:34:15 -0400, "Glenn Ashmore" wrote: This was just eye wash to let the Shrub claim he is doing something. A 2% adjustment when the RMB is 30% to 40% undervalued will not mean anything at all. Now that it is pegged to a bundle of currencies the US$ would have to crash before it would make any difference. Which may happen. With the deficits we have been running the dollar has already lost 30% of its value against the Euro and the Pound. Before the Shrub's tax cut one Euro was worth $1.17. Today it is worth $0.82. For the RMB to be at its proper value the US$ would have to drop to $0.50 against the Euro. Pretty soon we will not be able to afford anything but the cheap **** from China. Hey Glenny...wernt you one of the dooom and gloomers who claimed Bush was tanking the economy? 5% unemployment...the Dept of labor says there will soon be a shortage of skilled labor....and its all Bush's fault. Snivel... Snicker Curious--is flippin burgers now being considered 'skilled' these days or not ??? Nope. But machining is. Manufacturing has picked up in most/many places. I see all sorts of help wanted ads here in So. Cal. Installers, service people, CNC button pushers, drivers, machinists. So. Cal was the last part of the country to tank, and its the last part to recover, always. So it must be even better elsewhere. Gunner "Pax Americana is a philosophy. Hardly an empire. Making sure other people play nice and dont kill each other (and us) off in job lots is hardly empire building, particularly when you give them self determination under "play nice" rules. Think of it as having your older brother knock the **** out of you for torturing the cat." Gunner |
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"PrecisionMachinisT" wrote in message ... "Gunner" wrote in message ... On Thu, 21 Jul 2005 18:34:15 -0400, "Glenn Ashmore" wrote: This was just eye wash to let the Shrub claim he is doing something. A 2% adjustment when the RMB is 30% to 40% undervalued will not mean anything at all. Now that it is pegged to a bundle of currencies the US$ would have to crash before it would make any difference. Which may happen. With the deficits we have been running the dollar has already lost 30% of its value against the Euro and the Pound. Before the Shrub's tax cut one Euro was worth $1.17. Today it is worth $0.82. For the RMB to be at its proper value the US$ would have to drop to $0.50 against the Euro. Pretty soon we will not be able to afford anything but the cheap **** from China. Hey Glenny...wernt you one of the dooom and gloomers who claimed Bush was tanking the economy? 5% unemployment...the Dept of labor says there will soon be a shortage of skilled labor....and its all Bush's fault. Snivel... Snicker Curious--is flippin burgers now being considered 'skilled' these days or not ??? Isn't it now considered a "manufacturing" job, like ketchup is a "vegetable"? Jeff |
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On Fri, 22 Jul 2005 13:29:51 +0000, Gunner wrote: SNIP
Manufacturing has picked up in most/many places. I see all sorts of help wanted ads here in So. Cal. Installers, service people, CNC button pushers, drivers, machinists. So. Cal was the last part of the country to tank, and its the last part to recover, always. So it must be even better elsewhere. Gunner I agree with you from what I can see locally here. My nephews business which would be considered small manufacturing is growing. Over the last three years he has doubled his purchase of machining tools every year. This last year had a new building put up that increased his square footage about five times, and hired a guy about a year ago. He is working his ass off six days a week, twelve hours a day, and would hire another one now if he could find someone with top notch skills. Last time I talked to him he said he is turning away enough work to keep at least another full time employee busy. The news of China decoupling their yuan is not necessarily bad... or good... just different. When financials are artificially meddled with they skew the market. Letting things float to their correct level is generally a good thing, but it may benefit some and hurt others. The point of being aware of the affect on trade and interest rates and such is to position yourself so you benefit. This is just a trend shift. And one that will in the long run force better decisions on those making them... -- News Group: misc.survivalism Big-T |
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As a proud neocon, I think we neocons need to have a raffle or
something so that Cliff could buy a brain. Any thoughts Gunner ? Heh Mark Richard Lewis wrote: And you're sure about this about as sure as you have been about everything else, right? What do I get when you're proven to be an idiot again as you always have been? ral Cliff wrote: On 21 Jul 2005 08:52:32 -0700, "DL" wrote: http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. -- Cliff |
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Cliff wrote:
On 21 Jul 2005 08:52:32 -0700, "DL" wrote: http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. Idiot. Go take a few economics courses, then come back. |
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Cutting the Yuan loose is a good thing but this only a very small step in
that direction. Basically they had to break away from the US$ because as the US$ slips against the Euro it makes Chinese goods ridiculously cheap in in the EC and they were starting to howl. The new policy as it now stands does little to help the US trade deficit but it will take some pressure off the European markets. The value of the Yuan is not set on the open market the way the US$ and other major currencies are. As I understand it the Chinese finance bureaucrats will pick a bundle of currencies (which will be kept secret) and set a very narrow range of exchange rates every day. Then they will not allow it to trade outside that range. That idea works OK for very small economies but leads to major distortions with an economy as big as China's is getting. Because the US$ is the weakest it has been in 30 years we should have a trade advantage but we don't because the Chinese have been able to undercut us by holding the Yuan artificially low. The Yuan has been held at 8.28 to 8.30 to the US$ for 11 years during which time the Chinese economy has grown exponentially. Some economist think it should be trading around 6 Yuan to the US$. That would make US goods cheaper in China and make Wal-Mart think twice before forcing their suppliers to go offshore. I read an article the other day in the Economist that said because the Chinese production facilities were so new and highly automated that the labor component was relatively small. Therefore it was not cheap labor that gave the Chinese the trade advantage so much as the manipulated exchange rate. An example they gave was a TV tube plant. The labor component in the American plant was lower than the Chinese plants because the productivity per labor hour was higher in the American plant making actual labor cost per unit only slightly higher. In local currency the total production cost was only about 5% higher in the US which, after shipping costs would have made both plants competitive. However, due to the exchange rate the Chinese tubes could be sold on the US market for 20% less. -- Glenn Ashmore I'm building a 45' cutter in strip/composite. Watch my progress (or lack there of) at: http://www.rutuonline.com Shameless Commercial Division: http://www.spade-anchor-us.com "Tom Gardner" wrote Glenn, is cutting the "Yuan" loose from the dollar a bad thing? What about the other Chinese currency? How is it effected and how do both currencies interact in the world economy? |
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On Fri, 22 Jul 2005 00:55:20 GMT, Ignoramus19508
wrote: I would not support a contention that one political party in the US is substantially less inclined towards thievery. Well, the one in power is doing all of this. They control the administration and both houses of congress, etc. The prior group was making good efforts at halting the deficits which this group LIKES. Not to mention that they are the WAR PARTY. And lie a LOT. Found any "WMDs" lately? That was a good hint ..... to the observant (Hi, Gunner !!! G) -- Cliff |
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On Thu, 21 Jul 2005 22:50:58 -0700, Tim May
wrote: In article , Emmo wrote: Well, I've been out of work for 17 months. I spent the previous 23 years in software marketing, but there isn't much call for that anymore, between open source, Microsoft, and India. Not sure how China plays into this issue, but I'm certainly sensitive to people losing their jobs when they vanish from this country. I'm not so clear on what I'm going to do now, myself... Flipping burgers pays $6.75. Serving double double decafes with a twist of lemon pays $8.35, plus all the tips you can grovel for (split with the storeowner, 30-70, of course). Winger's Delite, eh? If you're a negro or a Mexican, you can be paid to stay at home and breed, watch t.v., etc. Winger's Delite, eh? This is the country liberals voted for. And lost. HTH -- Cliff |
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On 21 Jul 2005 21:25:04 -0700, "jon_banquer"
wrote: How about pawn shops ? Every time I see one I think of you. -- Cliff |
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On 21 Jul 2005 21:22:09 -0700, "Halcitron" wrote:
Cliff wrote: On 21 Jul 2005 08:52:32 -0700, "DL" wrote: http://tinyurl.com/7tjzj Can you say "inflation". Nobody left to loan the neocons any more money for their deficits it seems. Now they will call the loans due. http://www.washingtonpost.com/wp-dyn...072102091.html China's Currency Move Friday, July 22, 2005; Page A22 THE UNITED States and China are at loggerheads on several fronts: China's military buildup, its piracy of intellectual property, its human rights abuses. But one potential flash point has been managed successfully so far, to the credit of the Bush administration. LOL .... Treasury Secretary John W. Snow has persuaded Congress to shelve bad legislation that would slap tariffs on China to punish it for maintaining an undervalued currency. Meanwhile, Mr. Snow has urged the Chinese to reform their currency policy for their own good. Yesterday China took a first step in that direction, abandoning a decade-old policy of pegging the yuan to the dollar. They are dropping the dollar, not just unpegging. They now hae LOTS of dollars & dollar debts to dispose of. They are not going to be buying US products with them it seems. They will be buying US major firms though .... like oil companies ... they can use that Gulf oil .... China's move is too cautious to do more than dent its trade surplus, much less cure the alarming U.S. trade deficit. The yuan will now be worth 2 percent more, in dollar terms, than before the announcement; Just testing the waters to start with. the monthly wage of a Chinese factory worker will move from, say, $100 to $102, a trivial difference. Even so, China's announcement is symbolically important. With China having shown itself capable of one currency move, further adjustments now seem more likely. In time, the policy of pegging the currency may give way to a more flexible, market-driven "float." This is the right direction to head in. It was one of the major things keeping the dollar as high as it was under the neocons. China would buy the deficits. Now they will be selling them ... Allowing the currency to float would strengthen China's ability to manage its own economy, Better for China. softening the recent pattern of inflationary booms followed by painful slowdowns. In China. From the global perspective, the stakes are even higher. In the past decade or so, the world has come to rely on the United States to drive economic growth. Both the U.S. government and American consumers have borrowed to spend lavishly, and the spending has stimulated not only the U.S. economy Only if you do not count the debts that rose. You now owe more than $100,000 for just your share of the deficit, right? They will collect ..... plus interest ... and in real terms .. but also export-driven growth elsewhere. Meanwhile, European and Japanese demand for American goods isn't expanding fast The don't really need inch bolts & suchlike. And the US is far behind in technology in many fields (neocons hate science & research but love god who will smite the dems with their liberal education values ...) because those economies are sluggish. But the real puzzle is beyond Japan, in the rest of Asia. The region grew an astonishing 8 percent last year, a rate that would normally be expected to entail surging demand for imports. But the Asians continued to run a large trade surplus. Their growth was based on sizzling U.S. demand, not on demand from their own consumers. They seem to be supplying that as well. This is not sustainable. Americans cannot go on borrowing from Asians to buy Asian goods forever. To fix this imbalance, Americans have to sell more goods and Asians have to consume more. Raising the value of Asian currencies is one mechanism to achieve this: It makes American goods more competitive and Asian consumers richer. China's cautious decision yesterday has already been emulated by Malaysia; other Asian countries, The REAL domino theory. They are not stupid either. They were just waiting .... to raise prices & dump dollars ... which have felt unable to revalue against the dollar for fear that they would lose competitiveness vis-à-vis China, may now reconsider. Whether they do may depend on whether China builds on its move with further revaluations in the next few months. Having taken the first step, China's leaders must have the courage to keep walking. http://www.nancysinatra.com/intro.html -- Cliff |
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