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MadeInTaiwan
ParticipantI really suggest reading Michael Pettis, mpettis.com. His last post on the 19th actually talks about consequence for China of the Euro crises.
To summarize.
1) Global trade has to balance out. Trade deficit equals buget deficit. Less consumption in Euro deficit countries (Greece, Spanish, Portugal etc) needs to be balanced out by less export by exporting countries or the excess export needs to be absorved by someone else.
2) The biggest exporter and importer are China and U.S. While China is attempting to re-balance its economy (from export dependent to more internal consumption), it still relies too heavily on exports. Euro import contraction will put additional pressure on China to adjust faster than it wants.
3) U.S. needs/wants to adjust by importing/consuming less and producing more. One way for that is currency devaluation. (As an aside w/o devaluation economies can expect massive unemployment in the 20% range) It does not want to take up additional import.
4) Rest of the world already angry at China for increasing market share of global export at time of expansion. The added tension with U.S will likely lead to trade war in the next few years.
ParticipantI really suggest reading Michael Pettis, mpettis.com. His last post on the 19th actually talks about consequence for China of the Euro crises.
To summarize.
1) Global trade has to balance out. Trade deficit equals buget deficit. Less consumption in Euro deficit countries (Greece, Spanish, Portugal etc) needs to be balanced out by less export by exporting countries or the excess export needs to be absorved by someone else.
2) The biggest exporter and importer are China and U.S. While China is attempting to re-balance its economy (from export dependent to more internal consumption), it still relies too heavily on exports. Euro import contraction will put additional pressure on China to adjust faster than it wants.
3) U.S. needs/wants to adjust by importing/consuming less and producing more. One way for that is currency devaluation. (As an aside w/o devaluation economies can expect massive unemployment in the 20% range) It does not want to take up additional import.
4) Rest of the world already angry at China for increasing market share of global export at time of expansion. The added tension with U.S will likely lead to trade war in the next few years.
ParticipantI really suggest reading Michael Pettis, mpettis.com. His last post on the 19th actually talks about consequence for China of the Euro crises.
To summarize.
1) Global trade has to balance out. Trade deficit equals buget deficit. Less consumption in Euro deficit countries (Greece, Spanish, Portugal etc) needs to be balanced out by less export by exporting countries or the excess export needs to be absorved by someone else.
2) The biggest exporter and importer are China and U.S. While China is attempting to re-balance its economy (from export dependent to more internal consumption), it still relies too heavily on exports. Euro import contraction will put additional pressure on China to adjust faster than it wants.
3) U.S. needs/wants to adjust by importing/consuming less and producing more. One way for that is currency devaluation. (As an aside w/o devaluation economies can expect massive unemployment in the 20% range) It does not want to take up additional import.
4) Rest of the world already angry at China for increasing market share of global export at time of expansion. The added tension with U.S will likely lead to trade war in the next few years.
ParticipantI really suggest reading Michael Pettis, mpettis.com. His last post on the 19th actually talks about consequence for China of the Euro crises.
To summarize.
1) Global trade has to balance out. Trade deficit equals buget deficit. Less consumption in Euro deficit countries (Greece, Spanish, Portugal etc) needs to be balanced out by less export by exporting countries or the excess export needs to be absorved by someone else.
2) The biggest exporter and importer are China and U.S. While China is attempting to re-balance its economy (from export dependent to more internal consumption), it still relies too heavily on exports. Euro import contraction will put additional pressure on China to adjust faster than it wants.
3) U.S. needs/wants to adjust by importing/consuming less and producing more. One way for that is currency devaluation. (As an aside w/o devaluation economies can expect massive unemployment in the 20% range) It does not want to take up additional import.
4) Rest of the world already angry at China for increasing market share of global export at time of expansion. The added tension with U.S will likely lead to trade war in the next few years.
Participant[quote=Allan from Fallbrook][quote=waiting for bottom
By this logic we should shut down the airline industry after a plane crash, quit selling cars after Toyota, stop advancing medical technology when a patient dies, and drop out of college when we fail a test.Accidents happen man. Latest polls still show more than 50% of Americans support offshore drilling. You feel so strongly about this then quit driving your car and go invent an alternative. Until then, close your yap.[/quote]
Winner.[/quote]
The difference is scale. Should all airline crashes over 10 years occur at one airport in one day (or a daily crash at the same airport spread over several months), you bet there would be pressure to further regulate air safety.
Similary, should same scale of oil should leak out over 10 years and causing similar cummulitive damage, most would yawn.
Whether BP itself or governemnt inspection (or lack thereof) is at fault, the current spill gives the U.S public a front seat viwe of a bad (maybe not even worse case) scenario.
Participant[quote=Allan from Fallbrook][quote=waiting for bottom
By this logic we should shut down the airline industry after a plane crash, quit selling cars after Toyota, stop advancing medical technology when a patient dies, and drop out of college when we fail a test.Accidents happen man. Latest polls still show more than 50% of Americans support offshore drilling. You feel so strongly about this then quit driving your car and go invent an alternative. Until then, close your yap.[/quote]
Winner.[/quote]
The difference is scale. Should all airline crashes over 10 years occur at one airport in one day (or a daily crash at the same airport spread over several months), you bet there would be pressure to further regulate air safety.
Similary, should same scale of oil should leak out over 10 years and causing similar cummulitive damage, most would yawn.
Whether BP itself or governemnt inspection (or lack thereof) is at fault, the current spill gives the U.S public a front seat viwe of a bad (maybe not even worse case) scenario.
Participant[quote=Allan from Fallbrook][quote=waiting for bottom
By this logic we should shut down the airline industry after a plane crash, quit selling cars after Toyota, stop advancing medical technology when a patient dies, and drop out of college when we fail a test.Accidents happen man. Latest polls still show more than 50% of Americans support offshore drilling. You feel so strongly about this then quit driving your car and go invent an alternative. Until then, close your yap.[/quote]
Winner.[/quote]
The difference is scale. Should all airline crashes over 10 years occur at one airport in one day (or a daily crash at the same airport spread over several months), you bet there would be pressure to further regulate air safety.
Similary, should same scale of oil should leak out over 10 years and causing similar cummulitive damage, most would yawn.
Whether BP itself or governemnt inspection (or lack thereof) is at fault, the current spill gives the U.S public a front seat viwe of a bad (maybe not even worse case) scenario.
Participant[quote=Allan from Fallbrook][quote=waiting for bottom
By this logic we should shut down the airline industry after a plane crash, quit selling cars after Toyota, stop advancing medical technology when a patient dies, and drop out of college when we fail a test.Accidents happen man. Latest polls still show more than 50% of Americans support offshore drilling. You feel so strongly about this then quit driving your car and go invent an alternative. Until then, close your yap.[/quote]
Winner.[/quote]
The difference is scale. Should all airline crashes over 10 years occur at one airport in one day (or a daily crash at the same airport spread over several months), you bet there would be pressure to further regulate air safety.
Similary, should same scale of oil should leak out over 10 years and causing similar cummulitive damage, most would yawn.
Whether BP itself or governemnt inspection (or lack thereof) is at fault, the current spill gives the U.S public a front seat viwe of a bad (maybe not even worse case) scenario.
Participant[quote=Allan from Fallbrook][quote=waiting for bottom
By this logic we should shut down the airline industry after a plane crash, quit selling cars after Toyota, stop advancing medical technology when a patient dies, and drop out of college when we fail a test.Accidents happen man. Latest polls still show more than 50% of Americans support offshore drilling. You feel so strongly about this then quit driving your car and go invent an alternative. Until then, close your yap.[/quote]
Winner.[/quote]
The difference is scale. Should all airline crashes over 10 years occur at one airport in one day (or a daily crash at the same airport spread over several months), you bet there would be pressure to further regulate air safety.
Similary, should same scale of oil should leak out over 10 years and causing similar cummulitive damage, most would yawn.
Whether BP itself or governemnt inspection (or lack thereof) is at fault, the current spill gives the U.S public a front seat viwe of a bad (maybe not even worse case) scenario.
ParticipantCredit card and your ATM gives you the best exchange rates. However, beware that most credit cards charge you 1% to 3% fee per oversea transaction.
When we went to Europe fall of 2008. We got a credit card that does not impose extra fee for foreign use specifically for the trip. I think it was Capital One. After the trip we paid it off and canceled the card. Between that card and our ATM (I think our CU charge a few dollars per withdrawl so I made sure that withdrew close to equivilant of $300 USD every time)
Between the ATM and Capital One we had all of our needs covered.
ParticipantCredit card and your ATM gives you the best exchange rates. However, beware that most credit cards charge you 1% to 3% fee per oversea transaction.
When we went to Europe fall of 2008. We got a credit card that does not impose extra fee for foreign use specifically for the trip. I think it was Capital One. After the trip we paid it off and canceled the card. Between that card and our ATM (I think our CU charge a few dollars per withdrawl so I made sure that withdrew close to equivilant of $300 USD every time)
Between the ATM and Capital One we had all of our needs covered.
ParticipantCredit card and your ATM gives you the best exchange rates. However, beware that most credit cards charge you 1% to 3% fee per oversea transaction.
When we went to Europe fall of 2008. We got a credit card that does not impose extra fee for foreign use specifically for the trip. I think it was Capital One. After the trip we paid it off and canceled the card. Between that card and our ATM (I think our CU charge a few dollars per withdrawl so I made sure that withdrew close to equivilant of $300 USD every time)
Between the ATM and Capital One we had all of our needs covered.
ParticipantCredit card and your ATM gives you the best exchange rates. However, beware that most credit cards charge you 1% to 3% fee per oversea transaction.
When we went to Europe fall of 2008. We got a credit card that does not impose extra fee for foreign use specifically for the trip. I think it was Capital One. After the trip we paid it off and canceled the card. Between that card and our ATM (I think our CU charge a few dollars per withdrawl so I made sure that withdrew close to equivilant of $300 USD every time)
Between the ATM and Capital One we had all of our needs covered.
ParticipantCredit card and your ATM gives you the best exchange rates. However, beware that most credit cards charge you 1% to 3% fee per oversea transaction.
When we went to Europe fall of 2008. We got a credit card that does not impose extra fee for foreign use specifically for the trip. I think it was Capital One. After the trip we paid it off and canceled the card. Between that card and our ATM (I think our CU charge a few dollars per withdrawl so I made sure that withdrew close to equivilant of $300 USD every time)
Between the ATM and Capital One we had all of our needs covered.
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