Quote:
Originally Posted by Derwood
so my choices are "government fixes all" or "people fix all"?
that's a bit disingenuous
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Well, I didn't say "fixes all". I named specific areas. But, is there a third option between "the government" and "the people" (generally termed "society")?
---------- Post added at 07:31 PM ---------- Previous post was at 07:21 PM ----------
Quote:
Originally Posted by dippin
you do know that there is no natural measure of a nation's currency, right? And that a currency value is only determined in relation to other goods and currencies, right? So that saying that X is undervalued is the same as saying that Y is overvalued?
And I don't know how you think the world works, but this whole "They haven't had their currency revalued in ages because they are still considered a third world nation" is nonsense. There are no distinctions between "third world nations" and "first world nations," and the central bank of each nation basically determines their exchange regime and a sustainable exchange rate. Some will let it float, some will peg it, but it is still determined in the open market, with none or some central bank intervention. And the UN has absolutely nothing to do with exchange rates, so that is more uninformed foolishness.
Finally, I would love to know why you value all these distinctions between m1, m2 and so on and if its anything other than just throwing nonsense out there to see what sticks. In any case, another swing and a miss. M2 has increased by about 120 billion under Obama, so the "trillions" thing is still false.
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The World Monetary Fund and World Bank most certainly control loan levels which have an influence over currency exchange rates. Both organizations look favorably upon China as a developing nation.
As for "Under Obama..", I am not talking about Obama and never have. I am talking about the federal government. As for the rise in currency, I am talking about since 2001. I will apologize for not qualifying my statements with a date range. I know you guys all get caught up in an Obama vs. Bush thing. I don't differentiate as I find both of their governments overstepped their bounds tremendously.