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Political & Elections -> Political & Elections - 2014 -> Not an economist, need some help with this
Post Info TOPIC: Not an economist, need some help with this
BigG


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Date: Nov 25, 2010
Not an economist, need some help with this
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What is an economist but someone who knows economics?

What is economics but the science of predicting what the economy will do and,guided by this information, advising as to good corporate and public policies and actions?

Hummmm. There may not be ANY economists by that criteria.

You can call a mule a horse but you can't win the Kentucky Derby with it.

-- Edited by BigG on Thursday 25th of November 2010 10:06:52 AM

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Cardinal Fang


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Date: Nov 25, 2010
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It will cause a slight downward pressure on the dollar versus other currencies, as the demand for dollars goes down. This slimmed-down dollar is good for Americans, because it makes our exports more attractive to foreigners.

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Billy


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Date: Nov 25, 2010
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Actually, it seems like China and Russia decided that when trading between themselves, it seemed unnecessary to use a third party currency. Makes sense.

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revolution
BigG


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Date: Nov 25, 2010
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It means other countries have noticed we print up a bunch of dollars whenever we get in a bind.

The dollar is no longer a "hard" currency. Other countries continue to use it because of the lack of a substitute. But the "international community" is frantically looking for a replacement.

Basically it means we are not going to be able to pay for oil, or even Chinese manufactured goods, with fiat money for very many more years.

There is another thread about this, but it garnered only one reply.


-- Edited by BigG on Thursday 25th of November 2010 07:46:17 AM

-- Edited by BigG on Thursday 25th of November 2010 07:47:50 AM

-- Edited by BigG on Thursday 25th of November 2010 07:48:27 AM

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pmrlcomm


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Date: Nov 25, 2010
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Can someone put this in layman's terms please? What does this mean for the US and it's economy as well as the ongoing use of the dollar as an international currency?

http://www.chinadaily.com.cn/china/2010-11/24/content_11599087.htm

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