1. China holds 700 billion - not 70B US $. I hate it when someone else does that. What a DA.
2. Does anybody have layaway anymore? Lots of these stores don't want the inventory overhead. JIT mfg has taken hold of every selling philosophy.
3. If the $ breaks 80 the Fed will have to defend. Coordinated purchases or raise the rate - or both. Yes-No?
4. I do not want to believe we will be shaving metal to purchase food. I do not know how to dress wild game nor butcher farm animals. I am SOL. Therefore I hope for the middle ground. A slow devaluation, a continuing loss of the middle class, a continuation of the Wal-marterization of America: Cheap crap bought with cheap dollars for a society more interested in cheap talk on cellphones and cheap programming. Sorry for the bad analysis. Bad day. No job. Good luck auric longs and thanks for your insightful musings.
Interesting fact, if the minimum wage had kept pace with inflation from 1968 and if Nixon hadn't removed the U.S. from the Gold Standard, the min. wage would be roughly $24 a hr.
I could never understand why people vote against their best interest, I'll never forget the comment by Ross Perot when he said, If we start to outsource your going to hear this big sucking sound from the U.S. economy. When are people finally going to understand what's going on. Think I'll move to Canada or Norway.