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Lagrangian
Suspended User
Registered: Feb 2012
Location: Mountain View, Santa Clara, California
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quote: | Originally posted by Dykes_on_Jay
Hong Kong dollar is worth 20% less than the RMB. That and i drink for free when i play.
This place is fucked up. You can walk around all day feeling rich (salary for just being a foreigner compared to Chinese is insane, even if you have the same job. They are like the new woman in the workplace.), then stumble into a neighborhood where every second house has a Bentley (meaning a high rise and i mean fucking high rise condo with 50 Bentleys in front) and my ass feels broke and wanting to open a Kebab stand.
A cleaning lady is 15rmb an hour or about 2$CDN. I just bought 300 grams of Wagyu and a case of 12 600ml bottles of Tsingtao for less than 15$. That would cost me 60$ minimum back home. Good ole Walmart. |
The loonie is doing very well these days, I hear alot of people talk about a Chinese slowdown...
The way I see it, China will dictate the world economy soon.. Meanwhile in the U.S, the decline worsens, as the Federal Reserve has embarked in an unprecedented bond and mortgage backed asset buying program that lowers the demand for safe assets such as bonds and CDs by keeping rates at extremely low levels. This program will push the value of the dollar down, boost riskier assets, and 'in theory' lowering unemployment by facilitating cash flow between powerhouses.
The U.S is borrowing more than it outputs, spending on welfare programs as people have conformed to unemployment. While the actions taken by the fed might bring unemployment down just a nudge, America's problems are structurally deep, and require fiscal intervention.
The way things are going, the U.S is headed towards a double dip recession and secession of global hegemony.
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Sep-15-2012 13:27
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Lagrangian
Suspended User
Registered: Feb 2012
Location: Mountain View, Santa Clara, California
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What's absurd about the Fed's asset program is that it's open ended, in other words, all chips are on the table, there will be intervention until the problem is resolved. Obama knows that a booming stock market warrants re-election.
Here's the catch, The price of gold and silver has skyrocketed. Investors know that Gold will become the most valuable regalia and emblem of wealth. No matter how many millions you have in the bank, you're better off owning tons of gold.
With health care reform and tax laws looming, businesses will be hesitant to hire full time, people will have to get used to uncertainty.
And in no way have I mentioned hyperinflation, but it's coming, and rather quickly.
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Sep-15-2012 13:38
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Intellekshual
tranceaddict in training
Registered: Dec 2011
Location: Oubliette
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Sep-19-2012 20:57
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Acton
Like a FCKNG BIRD
Registered: Mar 2002
Location: London
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Sep-21-2012 18:10
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