- This topic has 285 replies, 24 voices, and was last updated 13 years, 3 months ago by all.
-
AuthorPosts
-
June 1, 2011 at 6:37 AM #701509June 1, 2011 at 7:54 AM #700331(former)FormerSanDieganParticipant
[quote=CA renter]
What I fear is that “rich” foreigners end up with more US dollars and/or stronger currencies, and buy up all of our assets, essentially becoming our lords; and we, their serfs. We would also see asset and commodity prices rising, while our wages stagnate — creating a far more hideous financial situation that what deflation would deliver. This isn’t a prediction, as much as it’s an observation of what is currently going on, and has been going on for a couple of years, now.
Dollar destruction would wreck havoc on all working people in the U.S. It is only something to be desired by capitalists (asset owners), not laborers.
[/quote]This already happened in the mid- to late-1980’s. Our lords at that time were the Japanese.
What pulled us out of that spiral ?
June 1, 2011 at 7:54 AM #700426(former)FormerSanDieganParticipant[quote=CA renter]
What I fear is that “rich” foreigners end up with more US dollars and/or stronger currencies, and buy up all of our assets, essentially becoming our lords; and we, their serfs. We would also see asset and commodity prices rising, while our wages stagnate — creating a far more hideous financial situation that what deflation would deliver. This isn’t a prediction, as much as it’s an observation of what is currently going on, and has been going on for a couple of years, now.
Dollar destruction would wreck havoc on all working people in the U.S. It is only something to be desired by capitalists (asset owners), not laborers.
[/quote]This already happened in the mid- to late-1980’s. Our lords at that time were the Japanese.
What pulled us out of that spiral ?
June 1, 2011 at 7:54 AM #701017(former)FormerSanDieganParticipant[quote=CA renter]
What I fear is that “rich” foreigners end up with more US dollars and/or stronger currencies, and buy up all of our assets, essentially becoming our lords; and we, their serfs. We would also see asset and commodity prices rising, while our wages stagnate — creating a far more hideous financial situation that what deflation would deliver. This isn’t a prediction, as much as it’s an observation of what is currently going on, and has been going on for a couple of years, now.
Dollar destruction would wreck havoc on all working people in the U.S. It is only something to be desired by capitalists (asset owners), not laborers.
[/quote]This already happened in the mid- to late-1980’s. Our lords at that time were the Japanese.
What pulled us out of that spiral ?
June 1, 2011 at 7:54 AM #701165(former)FormerSanDieganParticipant[quote=CA renter]
What I fear is that “rich” foreigners end up with more US dollars and/or stronger currencies, and buy up all of our assets, essentially becoming our lords; and we, their serfs. We would also see asset and commodity prices rising, while our wages stagnate — creating a far more hideous financial situation that what deflation would deliver. This isn’t a prediction, as much as it’s an observation of what is currently going on, and has been going on for a couple of years, now.
Dollar destruction would wreck havoc on all working people in the U.S. It is only something to be desired by capitalists (asset owners), not laborers.
[/quote]This already happened in the mid- to late-1980’s. Our lords at that time were the Japanese.
What pulled us out of that spiral ?
June 1, 2011 at 7:54 AM #701524(former)FormerSanDieganParticipant[quote=CA renter]
What I fear is that “rich” foreigners end up with more US dollars and/or stronger currencies, and buy up all of our assets, essentially becoming our lords; and we, their serfs. We would also see asset and commodity prices rising, while our wages stagnate — creating a far more hideous financial situation that what deflation would deliver. This isn’t a prediction, as much as it’s an observation of what is currently going on, and has been going on for a couple of years, now.
Dollar destruction would wreck havoc on all working people in the U.S. It is only something to be desired by capitalists (asset owners), not laborers.
[/quote]This already happened in the mid- to late-1980’s. Our lords at that time were the Japanese.
What pulled us out of that spiral ?
June 1, 2011 at 8:39 AM #700351sdrealtorParticipantWould have been is a far cry from was. If my son would have been a girl his name would have been Allison. They were wrong in the way things actually happened. Both made predictions of what and when that did not come to pass. A broken clock is right twice a day. The world does not operate in a vacuum and there are forces out there they did not account for (i.e. government intervention). When all this was coming down I said that there would be heroic measures coming from gov’t in ways you could never imagine. I had no supporters with the possible exception of SD R (though he was far more moderate in his expectations than in). Its all here on the archives of this site for anyone to see. You and others constantly said there was no way they could stop the flood. Who was right?
June 1, 2011 at 8:39 AM #700446sdrealtorParticipantWould have been is a far cry from was. If my son would have been a girl his name would have been Allison. They were wrong in the way things actually happened. Both made predictions of what and when that did not come to pass. A broken clock is right twice a day. The world does not operate in a vacuum and there are forces out there they did not account for (i.e. government intervention). When all this was coming down I said that there would be heroic measures coming from gov’t in ways you could never imagine. I had no supporters with the possible exception of SD R (though he was far more moderate in his expectations than in). Its all here on the archives of this site for anyone to see. You and others constantly said there was no way they could stop the flood. Who was right?
June 1, 2011 at 8:39 AM #701037sdrealtorParticipantWould have been is a far cry from was. If my son would have been a girl his name would have been Allison. They were wrong in the way things actually happened. Both made predictions of what and when that did not come to pass. A broken clock is right twice a day. The world does not operate in a vacuum and there are forces out there they did not account for (i.e. government intervention). When all this was coming down I said that there would be heroic measures coming from gov’t in ways you could never imagine. I had no supporters with the possible exception of SD R (though he was far more moderate in his expectations than in). Its all here on the archives of this site for anyone to see. You and others constantly said there was no way they could stop the flood. Who was right?
June 1, 2011 at 8:39 AM #701186sdrealtorParticipantWould have been is a far cry from was. If my son would have been a girl his name would have been Allison. They were wrong in the way things actually happened. Both made predictions of what and when that did not come to pass. A broken clock is right twice a day. The world does not operate in a vacuum and there are forces out there they did not account for (i.e. government intervention). When all this was coming down I said that there would be heroic measures coming from gov’t in ways you could never imagine. I had no supporters with the possible exception of SD R (though he was far more moderate in his expectations than in). Its all here on the archives of this site for anyone to see. You and others constantly said there was no way they could stop the flood. Who was right?
June 1, 2011 at 8:39 AM #701544sdrealtorParticipantWould have been is a far cry from was. If my son would have been a girl his name would have been Allison. They were wrong in the way things actually happened. Both made predictions of what and when that did not come to pass. A broken clock is right twice a day. The world does not operate in a vacuum and there are forces out there they did not account for (i.e. government intervention). When all this was coming down I said that there would be heroic measures coming from gov’t in ways you could never imagine. I had no supporters with the possible exception of SD R (though he was far more moderate in his expectations than in). Its all here on the archives of this site for anyone to see. You and others constantly said there was no way they could stop the flood. Who was right?
June 1, 2011 at 9:07 AM #700365KSMountainParticipant[quote=FormerSanDiegan][This already happened in the mid- to late-1980’s. Our lords at that time were the Japanese.
What pulled us out of that spiral ?[/quote]
That’s a great question. I remember those times clearly. I believe in hindsight it is apparent that we were overly concerned about the Japanese becoming our new masters. Say about 1986 that was really in vogue. Many folks were predicting it at the time as an obviously inevitable outcome.I think for one thing we underestimated the impact of their demographic shift (aging). Might another factor have been self-fulfilling optimism (justified or not) that seemed to accompany the transition from Carter to Reagan?
Another factor I believe Greenspan used to say was increased productivity due to technology. Certainly there is some truth to that one. If any of you remember the days of copy pools and whiteout correction fluid and telexes and pay phones…
Now, are any factors like that on the horizon to help us this time? I don’t see them yet, but of course that is the nature of things that are over the horizon. It seems to me we have many negatives and many positives for our future.
The question to me is, will this downturn be cyclical (as all the others have been), or is this the start of a permanent secular downturn? I think anyone arguing the latter really has the onus on them to justify why “it’s different this time”. Certainly there were several folks on this board two years ago who predicted we would have long since descended into anarchy by now. Remember those posts? Maybe they were just long gold… As I recall they were hoarding seeds and bullets and water. How’d that work out? I guess they probably made some good salads from their gardens though…
June 1, 2011 at 9:07 AM #700461KSMountainParticipant[quote=FormerSanDiegan][This already happened in the mid- to late-1980’s. Our lords at that time were the Japanese.
What pulled us out of that spiral ?[/quote]
That’s a great question. I remember those times clearly. I believe in hindsight it is apparent that we were overly concerned about the Japanese becoming our new masters. Say about 1986 that was really in vogue. Many folks were predicting it at the time as an obviously inevitable outcome.I think for one thing we underestimated the impact of their demographic shift (aging). Might another factor have been self-fulfilling optimism (justified or not) that seemed to accompany the transition from Carter to Reagan?
Another factor I believe Greenspan used to say was increased productivity due to technology. Certainly there is some truth to that one. If any of you remember the days of copy pools and whiteout correction fluid and telexes and pay phones…
Now, are any factors like that on the horizon to help us this time? I don’t see them yet, but of course that is the nature of things that are over the horizon. It seems to me we have many negatives and many positives for our future.
The question to me is, will this downturn be cyclical (as all the others have been), or is this the start of a permanent secular downturn? I think anyone arguing the latter really has the onus on them to justify why “it’s different this time”. Certainly there were several folks on this board two years ago who predicted we would have long since descended into anarchy by now. Remember those posts? Maybe they were just long gold… As I recall they were hoarding seeds and bullets and water. How’d that work out? I guess they probably made some good salads from their gardens though…
June 1, 2011 at 9:07 AM #701052KSMountainParticipant[quote=FormerSanDiegan][This already happened in the mid- to late-1980’s. Our lords at that time were the Japanese.
What pulled us out of that spiral ?[/quote]
That’s a great question. I remember those times clearly. I believe in hindsight it is apparent that we were overly concerned about the Japanese becoming our new masters. Say about 1986 that was really in vogue. Many folks were predicting it at the time as an obviously inevitable outcome.I think for one thing we underestimated the impact of their demographic shift (aging). Might another factor have been self-fulfilling optimism (justified or not) that seemed to accompany the transition from Carter to Reagan?
Another factor I believe Greenspan used to say was increased productivity due to technology. Certainly there is some truth to that one. If any of you remember the days of copy pools and whiteout correction fluid and telexes and pay phones…
Now, are any factors like that on the horizon to help us this time? I don’t see them yet, but of course that is the nature of things that are over the horizon. It seems to me we have many negatives and many positives for our future.
The question to me is, will this downturn be cyclical (as all the others have been), or is this the start of a permanent secular downturn? I think anyone arguing the latter really has the onus on them to justify why “it’s different this time”. Certainly there were several folks on this board two years ago who predicted we would have long since descended into anarchy by now. Remember those posts? Maybe they were just long gold… As I recall they were hoarding seeds and bullets and water. How’d that work out? I guess they probably made some good salads from their gardens though…
June 1, 2011 at 9:07 AM #701201KSMountainParticipant[quote=FormerSanDiegan][This already happened in the mid- to late-1980’s. Our lords at that time were the Japanese.
What pulled us out of that spiral ?[/quote]
That’s a great question. I remember those times clearly. I believe in hindsight it is apparent that we were overly concerned about the Japanese becoming our new masters. Say about 1986 that was really in vogue. Many folks were predicting it at the time as an obviously inevitable outcome.I think for one thing we underestimated the impact of their demographic shift (aging). Might another factor have been self-fulfilling optimism (justified or not) that seemed to accompany the transition from Carter to Reagan?
Another factor I believe Greenspan used to say was increased productivity due to technology. Certainly there is some truth to that one. If any of you remember the days of copy pools and whiteout correction fluid and telexes and pay phones…
Now, are any factors like that on the horizon to help us this time? I don’t see them yet, but of course that is the nature of things that are over the horizon. It seems to me we have many negatives and many positives for our future.
The question to me is, will this downturn be cyclical (as all the others have been), or is this the start of a permanent secular downturn? I think anyone arguing the latter really has the onus on them to justify why “it’s different this time”. Certainly there were several folks on this board two years ago who predicted we would have long since descended into anarchy by now. Remember those posts? Maybe they were just long gold… As I recall they were hoarding seeds and bullets and water. How’d that work out? I guess they probably made some good salads from their gardens though…
-
AuthorPosts
- You must be logged in to reply to this topic.