Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)

[Okie + 83]

https://www.youtube.com/watch?v=_3s5EPEMBmk

CNN's Fareed Zakaria explains why some of America's closest allies are looking to undermine the country's economic strength.

[BenFranklin'sSpectacles + 762]

Deleted this because it was unclear. 

Edited June 17, 2019 by BenFranklin'sSpectacles

[BenFranklin'sSpectacles + 762]

8 hours ago, Okie said:

https://www.youtube.com/watch?v=_3s5EPEMBmk

CNN's Fareed Zakaria explains why some of America's closest allies are looking to undermine the country's economic strength.

Mr. Zakaria doesn't understand that playing nice is a losing strategy when your opponent plays dirty.  The "liberal" policies would have ensured a Chinese victory; Trump's policies create a fair competition. 

[Okie + 83]

1 hour ago, BenFranklin'sSpectacles said:

  The "liberal" policies would have ensured a Chinese victory; Trump's policies create a fair competition. 

I could have sworn the video was about Iran, not China.

[BenFranklin'sSpectacles + 762]

10 hours ago, Okie said:

I could have sworn the video was about Iran, not China.

It is, but China is related.  I should have connected the dots: Iran is a pawn; China is the real threat.  Containing/destroying Iran is part of preventing Chinese hegemony. 

The statement also applies to Iran though - and most of the Middle East, for that matter.  Those cultures aren't known for playing fair; it would be stupid to treat them any differently. 

[ceo_energemsier + 1,818]

9 minutes ago, BenFranklin'sSpectacles said:

It is, but China is related.  I should have connected the dots: Iran is a pawn; China is the real threat.  Containing/destroying Iran is part of preventing Chinese hegemony. 

The statement also applies to Iran though - and most of the Middle East, for that matter.  Those cultures aren't known for playing fair; it would be stupid to treat them any differently. 

Fareed Zakaria is for anyone who is against the US economic growth and strength.

[Ewen Feneker 0]

I am wondering how deeply the educational rot in the US goes and then I read that somebody thinks Trump's actions versus China are "tough" and that he, the lifelong criminal miscreant without a book under his belt, is some kind of genius at something other than bankrupting cash-flow gushing companies. Then I know the rot goes very deep, indeed.

The tariffs that the orange beast is wielding do not hurt China per se. They hurt American manufacturers, distributors, and consumers. The higher prices aren't paid by China to the Treasury. The tariffs are penalties paid by American purchasers for using Chinese goods. I'll write slowly, Americans pay higher prices and the amount on the tariff line of the invoice goes to the treasury. The Chinese may sell less for a short time, but we will all pay higher prices here in the US and the effort causes only pain and disruption to all. Smoot-Hawley anyone? Anyone? 

Imagine if your favorite pizza shop suddenly raised prices on its pizzas by 25%. You go in and ask why. The owner says he has no choice but to raise prices because the government said his cheese guy was a meanie and that if they bought from him, they'd have to pay more. Now the pizza shop isn't selling nearly as many pizzas and it's killing their local business. They have to pay 25% more for cheese to the government because some felon in DC doesn't like their supplier. But not for long, my pizza guy hopes, because as soon as the cheese guy can put his business in somebody else's name, the pizza joint can buy cheese cheaply again; and then be able to bring their prices down, hopefully in time to keep most of their customers.

Who is winning here? The pizza guy? The cheese guy? Or the thief in the government office? 

 

[Rodent + 1,424]

On 6/17/2019 at 4:09 PM, Ewen Feneker said:

I am wondering how deeply the educational rot in the US goes and then I read that somebody thinks Trump's actions versus China are "tough" and that he, the lifelong criminal miscreant without a book under his belt, is some kind of genius at something other than bankrupting cash-flow gushing companies. Then I know the rot goes very deep, indeed.

.....

 I'll write slowly...

Only apparently that educational rot only affects one party. Remarkable!

[Rasmus Jorgensen + 1,169]

On 6/19/2019 at 2:45 PM, Rodent said:

Only apparently that educational rot only affects one party. Remarkable!

How did you derive that from his post? Remarkable!

[Tom Kirkman + 8,860]

On 6/18/2019 at 4:09 AM, Ewen Feneker said:

I am wondering how deeply the educational rot in the US goes and then I read that somebody thinks Trump's actions versus China are "tough" and that he, the lifelong criminal miscreant without a book under his belt, is some kind of genius at something other than bankrupting cash-flow gushing companies. Then I know the rot goes very deep, indeed.

The tariffs that the orange beast is wielding do not hurt China per se. They hurt American manufacturers, distributors, and consumers. The higher prices aren't paid by China to the Treasury. The tariffs are penalties paid by American purchasers for using Chinese goods. I'll write slowly, Americans pay higher prices and the amount on the tariff line of the invoice goes to the treasury. The Chinese may sell less for a short time, but we will all pay higher prices here in the US and the effort causes only pain and disruption to all. Smoot-Hawley anyone? Anyone? 

Imagine if your favorite pizza shop suddenly raised prices on its pizzas by 25%. You go in and ask why. The owner says he has no choice but to raise prices because the government said his cheese guy was a meanie and that if they bought from him, they'd have to pay more. Now the pizza shop isn't selling nearly as many pizzas and it's killing their local business. They have to pay 25% more for cheese to the government because some felon in DC doesn't like their supplier. But not for long, my pizza guy hopes, because as soon as the cheese guy can put his business in somebody else's name, the pizza joint can buy cheese cheaply again; and then be able to bring their prices down, hopefully in time to keep most of their customers.

Who is winning here? The pizza guy? The cheese guy? Or the thief in the government office? 

 

Boy howdy, I can see we are gonna be best buds here. Yup.

(If the text looks a bit fuzzy, it's because of the sarcasm font.)

P.S. You forgot Orange Man Bad

[Rasmus Jorgensen + 1,169]

1 minute ago, Tom Kirkman said:

Boy howdy, I can see we are gonna be best buds here. Yup.

(If the text looks a bit fuzzy, it's because of the sarcasm font.)

P.S. You forgot Orange Man Bad

Apart from the name-calling what is wrong with this perspective? How is this different from all the manufacturing jobs lost to China? 

Unless an expanding pie solution is found there will be winners and losers. Maybe some regions are due a win. it is not for me to say. But people losing are people losing. Regardless where. 

[Tom Kirkman + 8,860]

On 6/21/2019 at 7:39 PM, Rasmus Jorgensen said:

Apart from the name-calling what is wrong with this perspective? How is this different from all the manufacturing jobs lost to China? 

Unless an expanding pie solution is found there will be winners and losers. Maybe some regions are due a win. it is not for me to say. But people losing are people losing. Regardless where. 

The tariffs are a rebalancing of a grossly unfair trade imbalance between China and U.S.

China has been winning at the expense of the U.S. and Trump has altered that dynamic.  Multinational corporations will obviously be unhappy about changing the imbalance.

Excerpt from transcript of earlier press briefing today, which the mainstream media normally don't report on (MSM really are horribly biased)

President Trump Impromptu Remarks Departing White House

"... Tariffs are obviously doing very well because we’re taking in billions and billions of dollars from China. We would be from others, and we might be from others, but billions of dollars are coming in from China. And, frankly, look at what’s happening with the stock market, which is pretty much what I’ve been saying.

Also, an article came out this morning that the tariffs are having very little effect on costs going up — and, in some cases, no effect. That the countries that the product come from, they are bearing the costs, which is also what I’ve said. ..."

[Douglas Buckland + 6,308]

And let's not forget the Belt and Road Initiative (BRI), that is a clever way to advance China's interests....

[Rasmus Jorgensen + 1,169]

On 6/23/2019 at 12:29 AM, Tom Kirkman said:

The tariffs are a rebalancing of a grossly unfair trade imbalance between China and U.S.

China has been winning at the expense of the U.S. and Trump has altered that dynamic.  Multinational corporations will obviously be unhappy about changing the imbalance.

Excerpt from transcript of earlier press briefing today, which the mainstream media normally don't report on (MSM really are horribly biased)

President Trump Impromptu Remarks Departing White House

"... Tariffs are obviously doing very well because we’re taking in billions and billions of dollars from China. We would be from others, and we might be from others, but billions of dollars are coming in from China. And, frankly, look at what’s happening with the stock market, which is pretty much what I’ve been saying.

Also, an article came out this morning that the tariffs are having very little effect on costs going up — and, in some cases, no effect. That the countries that the product come from, they are bearing the costs, which is also what I’ve said. ..."

It might be that tariffs are good overall for the US economy. I personally that it is too early to tell how this will all work out. However, I just stated that some part of the US economy might suffer. No need to make fun at those that lose. My comment was to "tone". Not content.

[Marcin + 519]

On 6/16/2019 at 9:22 PM, Okie said:

https://www.youtube.com/watch?v=_3s5EPEMBmk

CNN's Fareed Zakaria explains why some of America's closest allies are looking to undermine the country's economic strength.

I upvoted your post although I think Fareed is anti-Trump biased in some areas as he says that it was Trump that weaponized US dollar. Weaponization of reserve currency is a normal practise utilized by hegemonic country. It is not used often but acceptable from the point of US interests against Iran or Russia (China is too big to use US dollar against it). I do not say it is right or wrong it is good from the point of US interest.

This UE PR stunt with vehicle to trade with Iran was only PR stunt with no substance (could not know this in June). Globally only China dares to buy oil from Iran and it is really harsh & dangerous confrontation between these superpowers, in my opinion more important than technology war.