Korean Job Discussion Forums

[rollo]

Well golly! 18 months ago the dollar was going to be replaced by the Euro according to the eperts. Perhaps the dollar doesnt look good now and the Yuan looks great. Lets see what happens. All is not ticky boo in the middle kingdom. There is a lot of fundamental strength in the U.s. economy and that is why people are still willing to loan money to it. Demographics change. Immigration can change it faster. Wars even faster. The China hype should have ended months ago. Even the Chinese are sweating bullets right now. the Shanghai papers are full of articles about the coming great crash. China faces an even great demograpic challenge than the U.S. The one child policy means there are not enough workers to produce the means to support the aging chinese population.

[The Happy Warrior]

[Steelrails]

People need to think outside the box- MMORPG currencies should be the world's reserve.

[Steelrails]

[nathanrutledge]

China manipulates its currency. Europe has more than a dozen central banks. The US economy is by and away the strongest economy out there. Per capita it is the richest nation in the world (with the exception of some of the city-states, and oil emirates). Gross economy, it is still about 10 trillion dollars ahead of China. Depending on the data you look at it is just ahead, just behind, or equal to the European Union/Eurozone, but they suffer from multiple central banks. Sure, the US Fed has pumped hundreds of billions of dollars into the economy, but the Chinese did the same thing with their currency, the Europeans failed to do it and countries began to collapse.

How can anyone honestly think that the dollar will lose it's status? The US is the worlds number 1 consumer of oil in the world. The US is the worlds number 1 consumer in general. As evidenced by the global economic problems, I think it's safe to say you don't have to be very smart to work at GS...

[rollo]

Interesting about the kids taking care of their parents, in china this is becoming something from the past t.v. trips wto resorts, the elderly are now see as an expensive burden. Not uncommon to see elderly digging through trash for food or begging on the street. Something that many would have thought impossible is becoming common. The Chinese family which seemed indestructable as the nucleus of Chinese culture is breaking down.

the U.S. is in rough shape but so are many parts of the world. wait and see.

[mises]

[mises]

A fun discussion:

http://www.zerohedge.com/article/mike-pento-kicked-cnbc-telling-truth-dumb-money-manager-says-nothing-bubble-when-people-want

Foreigners will always buy an unlimited amount of American debt with essentially no return. Everything will stay exactly as it is today forever and ever amen.

And:

[rollo]

I agree that the current system is irrational. It is evolving and trying to predict what the result will be is fruitless I think. Gold seems to becoming the default currency at this time but that could change overnight.

It is interesting to note that the discussion of the RmB as a reserve currency would have been laughable 10 years ago. Also interesting is that economic discussions now focus on Beijing, Washington and Tokyo and little is said about Europe

[joeleitz]