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Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy

 
DoorBert

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11/08/2013 02:49 PM

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Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
With what few vacuum tube-based trading algos are left and reacting with rabid kneejerkiness to every flashing red headline, one would get the impression that what matters to the Fed's decision on how to adjust its balance sheet flow depends on the US economy.

But if Deutsche Bank is correct, the next source of global economic contraction, which it will be up to the Fed to offset (just like China was the marginal growth dynamo in the months after Lehman filed), and result in an increase in QE nevermind taper, is not in the US at all, but in China where things are about to go bump in the night.

Which means that just like that we have moved into the "New Normal paradigm" where the worse the news out of China, the better for stocks.


[link to www.zerohedge.com]

Last Edited by DoorBert on 11/13/2013 05:15 AM
DoorBert (OP)

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11/09/2013 06:32 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Peter Schiff On Janet Yellen's Mission Impossible


[link to www.zerohedge.com]
DoorBert (OP)

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11/09/2013 06:53 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
The death of the dollar is coming, and it will probably be China that pulls the trigger.

[link to www.zerohedge.com]

What you are about to read is understood by only a very small fraction of all Americans. Right now, the U.S. dollar is the de facto reserve currency of the planet. Most global trade is conducted in U.S. dollars, and almost all oil is sold for U.S. dollars. More than 60 percent of all global foreign exchange reserves are held in U.S. dollars, and far more U.S. dollars are actually used outside of the United States than inside of it. As will be described below, this has given the United States some tremendous economic advantages, and most Americans have no idea how much their current standard of living depends on the dollar remaining the reserve currency of the world.

Unfortunately, thanks to reckless money printing by the Federal Reserve and the reckless accumulation of debt by the federal government, the status of the dollar as the reserve currency of the world is now in great jeopardy.

Unfortunately, the truly bizarre behavior of the Federal Reserve and the U.S. government over the past several years is causing the rest of the world to lose faith in our currency. In particular, China is leading the call for a "de-Americanized" world. The following is from a recent article posted on the website of France 24...

[link to www.france24.com]

For decades the US has benefited to the tune of trillions of dollars-worth of free credit from the greenback's role as the default global reserve unit.

But as the global economy trembled before the prospect of a US default last month, only averted when Washington reached a deal to raise its debt ceiling, China's official Xinhua news agency called for a "de-Americanised" world.

It also urged the creation of a "new international reserve currency... to replace the dominant US dollar".
So why should the rest of the planet listen to China?

Well, China now accounts for more global trade than anyone else does, including the United States.

China is also now the number one importer of oil in the world.

At this point, China is even importing more oil from Saudi Arabia than the United States is.

China now has an enormous amount of economic power globally, and the Chinese want the rest of the planet to start using less U.S. dollars and to start using more of their own currency.

China’s yuan makes waves on international currency markets

Traders say the yuan’s rise as the biggest move in global currency since the euro’s introduction


[link to www.vancouversun.com]

Right now, the global move away from the U.S. dollar is slow but steady.

At some point, some trigger event will likely cause it to become a stampede.

When that happens, demand for U.S. dollars and U.S. debt will disintegrate and interest rates will absolutely skyrocket.

And if interest rates skyrocket that will throw the entire U.S. financial system into chaos. At the moment, there are about 441 trillion dollars worth of interest rate derivatives sitting out there. It is a financial time bomb unlike anything the world has ever seen before.

There are four "too big to fail" banks in the United States that each have more than 40 trillion dollars worth of total exposure to derivatives. The largest chunk of those derivatives is made up of interest rate derivatives. In case you were wondering , those four banks are JPMorgan Chase, Citibank, Bank of America and Goldman Sachs.

A huge upward surge in interest rates would absolutely devastate those banks and cause a financial crisis that would make 2008 look like a Sunday picnic.

Right now, the leader in global trade seems content to use U.S. dollars for most of their international transactions. China also seems content to hold more than a trillion dollars of U.S. government debt.

If that suddenly changes someday, the consequences for the U.S. economy will be absolutely catastrophic and every single American will feel the pain.

The standard of living that all of us are enjoying today depends largely upon China.

They can bring down the hammer at any moment and they know it.
DoorBert (OP)

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11/09/2013 06:58 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Didier Sornette: How We Can Predict The Next Financial Crisis

The 2007-2008 crash seemed to come out of nowhere, with no source or group to take responsibility, an unpredictable one-time anomaly — as Sornette calls it: “the wrath of God.”

But as he says firmly: Despite what standard risk management tools show, these outliers operate under special mechanisms that make them predictable, perhaps even controllable.

Sornette and his team at the Financial Crisis Observatory (FCO) call these special cases “dragon-kings.”

Dragon-kings, in direct contrast with “black swans,” are at the core characterized by a slow maturation of instability, which move toward a bubble, until the bubble reaches a climax and bursts.

Anonymous Coward
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11/09/2013 07:00 AM
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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
a lot of folks on this forum can't comprehend any of this. they think the USA will continue on like it is. their first clue will be the amount of food they walk out of the grocery store with. it will keep shrinking and many will be down to one meal a day. then it will sink in....
Anonymous Coward
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11/09/2013 07:04 AM
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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
china needs the US to feed 30 % of its population
china needs the US to employ 20 % of its population working age
china has 500 million people who live like turd worlders on a dollar a day or less
china needs to kiss US ass too keep "rebel" movements from destroying their shit in africa
the chinese are universally despised across asia and africa for giving the good jobs to chinese and shit jobs to natives.
it will get very very expensive in terms of resources to protect their investments and people outside of china )


the world is tired of empire shit everywhere , whether it is white or yellow people are going too take destructive actions )
Anonymous Coward
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11/09/2013 07:12 AM
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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
bump
Anonymous Coward
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11/09/2013 07:29 AM
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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
china needs the US to feed 30 % of its population
china needs the US to employ 20 % of its population working age
china has 500 million people who live like turd worlders on a dollar a day or less
china needs to kiss US ass too keep "rebel" movements from destroying their shit in africa
the chinese are universally despised across asia and africa for giving the good jobs to chinese and shit jobs to natives.
it will get very very expensive in terms of resources to protect their investments and people outside of china )


the world is tired of empire shit everywhere , whether it is white or yellow people are going too take destructive actions )
 Quoting: Anonymous Coward 49640170


listening to the various financial experts, they're all saying that China doesn't need us any more.
DoorBert (OP)

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11/09/2013 07:39 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
China Deploys New Bomber with Long-Range Land Attack Missile

China’s military recently deployed an upgraded strategic bomber that will carry the military’s new long-range land attack cruise missile, capable of attacking Hawaii and Guam, according to a draft congressional report.

The Oct. 8 draft of the forthcoming report of the U.S.-China Economic and Security Review Commission also reveals that China has developed a new armed drone nearly identical to U.S. military’s Reaper. The Chinese missile-firing drone likely was developed through Chinese cyber espionage against U.S. defense contractors.

The report highlights a rapidly modernizing Chinese military that includes large numbers of new weapons and new warfighting techniques, including attack capabilities in space and cyberspace.

“PLA modernization is on track to alter the security balance in Asia over the next five to 10 years, challenging decades of U.S. military preeminence,” the report concludes.

[link to freebeacon.com]

Last Edited by DoorBert on 11/09/2013 07:41 AM
DoorBert (OP)

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11/09/2013 07:57 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Can We Support 75 Million Retirees in 2020?

[link to charleshughsmith.blogspot.com]
DoorBert (OP)

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11/10/2013 06:47 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
True to his word, Mario Draghi sent currency traders scrambling after this week’s formal ECB policy statement. From Forbes:

While U.S. investors kept their eyes peeled for Twitter’s first trade, European Central Bank President Mario Draghi shocked markets by cutting interest rates to fight deflation, as Eurozone prices fell to their lowest levels in four years. Draghi, who said they have tools in their “artillery” but aren’t at the point where they will shoot the QE bazooka, made it clear risks to the outlook remain skewed to the downside, adding the decision to cut rates wasn’t unanimous.

In a global economy still recovering from the biggest credit-induced over-consumption bubble of all time, no country wants a strong currency. The ECB announcement sent the U.S. dollar soaring higher, which put the Fed behind in the currency race to the bottom. On the cooperation front, if the ECB is worried about deflation, the Fed is worried about deflation. Signals this week continued to support the “taper later” case. From The Wall Street Journal:

The Federal Reserve believes U.S. unemployment is still too high and it remains committed to boosting job creation, Chairman Ben Bernanke said Friday. “There’s an awful lot of slack in the labor market and a lot of young people living with their parents,” Mr. Bernanke said at a research conference hosted by the International Monetary Fund. U.S. unemployment stood at 7.3% in October, near five-year lows, but many economists believe this measure understates the magnitude of the country’s employment problems. These economists point to the fact that the number of people who are working is little changed since the country emerged from the recession and say the improvement in the unemployment rate is mainly the result of people giving up their job searches and exiting the labor force.

[link to ciovaccocapital.com]
DoorBert (OP)

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11/11/2013 06:11 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
10 Facts About The Growing Unemployment Crisis In America That Will Blow Your Mind


Did you know that there are more than 102 million working age Americans that do not have a job? Yes, I know that number sounds absolutely crazy, but it is true. Right now, there are more than 11 million Americans that are considered to be "officially unemployed", and there are more than 91 million Americans that are not employed and that are considered to be "not in the labor force". When you add those two numbers together, the total is more than 102 million.

[link to www.blacklistednews.com]
DoorBert (OP)

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11/11/2013 09:54 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Sluggish Spending and Tepid Inflation Signal More QE, Not Less

[link to mrtopstep.com]
DoorBert (OP)

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11/11/2013 09:55 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Two Things You Have To Read If You Want To Understand The Fed’s Next Move

[link to mrtopstep.com]
Anonymous Coward
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11/11/2013 09:56 AM
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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
10 Facts About The Growing Unemployment Crisis In America That Will Blow Your Mind


Did you know that there are more than 102 million working age Americans that do not have a job? Yes, I know that number sounds absolutely crazy, but it is true. Right now, there are more than 11 million Americans that are considered to be "officially unemployed", and there are more than 91 million Americans that are not employed and that are considered to be "not in the labor force". When you add those two numbers together, the total is more than 102 million.

[link to www.blacklistednews.com]
 Quoting: DoorBert


6 yrs of bad economic news
nothing much has happened yet
i am tired of waiting
DoorBert (OP)

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11/11/2013 10:02 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
US debt surges $328 billion in single day, surpassing $17 trillion for first time — RT USA

[link to rt.com]
DoorBert (OP)

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11/11/2013 11:16 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Will debt problems, decreasing use of the dollar as the global reserve currency and Obama care lead to a Black Swan event with the dollar plummeting and US power collapsing?

Dr. Paul Craig Roberts, Former Assistant Secretary of the Treasury and Wall Street Journal columnist, laid out just such a scenario in a recent phone interview.

[link to www.traderplanet.com]
Saddletramp
We Don't Rent Pigs...

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11/11/2013 11:26 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Nice thread, good info...

5*
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Saddletramp
We Don't Rent Pigs...

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11/11/2013 11:38 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
I think the rest of the world about considers their debt to us for rebuilding them after WWII pretty much paid in full...it was probably more than paid in full back in the 70's when the USA broke away from Bretton-Woods and the dollar went fully fiat.

We've been living on borrowed time every since...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
DoorBert (OP)

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11/11/2013 01:26 PM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Nice thread, good info...

5*
 Quoting: Saddletramp


cheers
Anonymous Coward
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11/11/2013 02:06 PM
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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
great video. Thanks

Didier Sornette: How we can predict the next financial crisis

rocks!
Anonymous Coward
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11/11/2013 02:13 PM
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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
add some more....listening to Dave Hodges the other day they were talking about how Obama gave muslim homeowners on the west bank $330 million bucks.
DoorBert (OP)

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11/12/2013 07:00 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Dennis Gartman: ‘Massive top’ in bond market

Interest rates could be heading significantly higher, the editor and publisher of The Gartman Letter said Monday.

“I think that we’ve seen a massive top taking place here,” Dennis Gartman said. “I think you have to be selling the bond market at the long end of the curve. I think we have a long-term change in the sentiment in the bond market, and I think you have to be a seller of it.”

[link to www.cnbc.com]
DoorBert (OP)

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11/12/2013 07:37 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
What A Confidential 1974 Memo To Paul Volcker Reveals About America’s True Views On Gold, Reserve Currency And “PetroGold”

[link to www.zerohedge.com]
DoorBert (OP)

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11/12/2013 07:39 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Former Fed Quantitative Easer Confesses; Apologizes: "I Can Only Say: I'm Sorry, America"

Confessions of a Quantitative Easer

We went on a bond-buying spree that was supposed to help Main Street. Instead, it was a feast for Wall Street.

I can only say: I'm sorry, America.

As a former Federal Reserve official, I was responsible for executing the centerpiece program of the Fed's first plunge into the bond-buying experiment known as quantitative easing.

The central bank continues to spin QE as a tool for helping Main Street.

But I've come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.

[link to www.zerohedge.com]
DoorBert (OP)

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11/13/2013 05:16 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
Obama’s Economy: Wall Street Thrives, Main Street Dies

The man at the center of the storm has blown a giant hole in the notion that the Obama administration is looking out for middle class Americans. “Andrew Huszar: Confessions of a Quantitative Easer,” is piece written for the Wall Street Journal by Huszar himself, revealing that he was the person responsible “for executing the centerpiece program of the Fed’s first plunge into the bond-buying experiment known as quantitative easing.” Four years later, the scales have fallen from his eyes. “The central bank continues to spin QE as a tool for helping Main Street,” Huszar writes. “But I’ve come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.”

There is a plethora of evidence to back up Huszar’s assertion. While Wall Street continues to flirt with record highs, Main Street is stagnating. Despite the happy talk that constantly emerges from the Obama administration and its media cheerleaders, a record-setting 91,541,000 Americans were not participating in the labor force as of October, according to the Bureau of Labor Statistics (BLS). Between the time Obama entered office in 2009 and last month, more than 11 million Americans have left the labor force. If the trend continues, the number of idle Americans will top the number of working Americans in four years.

[link to frontpagemag.com]
DoorBert (OP)

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11/13/2013 05:35 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
House Votes to Protect Citigroup if It Gambles and Loses

One of the nation’s leading banks wants Congress to amend federal law adopted in the wake of the 2008 financial crisis so it and other Wall Street institutions can go back to gambling with risky investments and have taxpayers cover the losses again if they bet wrong.

[link to www.allgov.com]
DoorBert (OP)

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11/13/2013 05:49 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
7 More Years Of Low Rates.. And Then War?

Stocks look eerily similar now as compared to pre WWII.

[link to www.zerohedge.com]

and Rates look awfully similar....

[link to www.zerohedge.com]

and that didn't end well... War!

But when we look at the headlines in the Wall Street Journal from mid 1936 to mid 1937 as the market topped out, dipped, was bought back (orange oval), then collapsed 40% in 3 months, nothing ever changes...

[link to www.zerohedge.com]
DoorBert (OP)

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11/13/2013 05:51 AM

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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
China Opens Largest Private Gold Vault With Capacity For $82 Billion Worth Of Precious Metal

[link to www.zerohedge.com]
Anonymous Coward
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11/13/2013 05:52 AM
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Re: Obama's Economy: Wall St Thrives - Main St Dies. US Debt Surges Past $17 Trillion. How China will Collapse the US Economy
china needs the US to feed 30 % of its population
china needs the US to employ 20 % of its population working age
china has 500 million people who live like turd worlders on a dollar a day or less
china needs to kiss US ass too keep "rebel" movements from destroying their shit in africa
the chinese are universally despised across asia and africa for giving the good jobs to chinese and shit jobs to natives.
it will get very very expensive in terms of resources to protect their investments and people outside of china )

 Quoting: Anonymous Coward 49640170


clappa

clappa

clappa
Anonymous Coward
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[link to www.destroy-china.jp]

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