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Radio 4 This Morning - Us Treasury Secretary

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Listening to John Snow the US Treasury Secretary being interviewed this morning on Radio 4 (8:10am) R4 Interview

This guy was SO frustrating to listen to. To their credit, R4 fielded him with some good questions about the state and future of the US economy, bringing up the debt bubble, rising interest rates, the feel-good factor caused by HPI and also the Chinese owning dollars etc.

I was amazed that he simply ignored or denied all the points put to him, he spun all the negatives such as Chinese cheap imports and their hold on the dollar as good for the US economy!

I was not paying attention during the 90's so my question is, was there such a massive denial prior to the last crash?

I know this is the US economy we are talking about, but the similarities are there aren't they?

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i heard that whilst driving to work this morning

shouting at the radio is not good for my blood pressure! :angry:

to summarise snow - "everything is fine and there is nothing to worry about" :rolleyes:

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Credit to the interviewer - she did ask him about China's leverage over the dollar. She even asked the question "what happens when China and India start charging more for their goods?" - he basically replied that they'd import from somewhere cheaper, a place with an even more exploitable and downtrodden workforce presumably. Not sure Vietnam or Laos has the infrastructure to churn out DVD players and powertools by the container load though!!

Evan Davies' report beforehand was also interesting, describing the large amount of "IOUs" that the Chinese govt. has from the Americans, and sounding quiet bearish at points.

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Credit to the interviewer - she did ask him about China's leverage over the dollar. She even asked the question "what happens when China and India start charging more for their goods?" - he basically replied that they'd import from somewhere cheaper, a place with an even more exploitable and downtrodden workforce presumably.

Better get Africa sorted and safe quick then.

They, the USA, really do think that they rule the World and that they should have what they want don't they?

I suppose the Roman Empire was like that, the British and the other European minor ones.

Things do change though.

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Maybe the Yanks do not care? Maybe, just maybe, they want the dollar to tank making all those dollar IOUs held by the Chinese and Indians to become a fraction of their current value? Maybe, just maybe, the Yanks have a cunning plan?

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Listening to John Snow the US Treasury Secretary being interviewed this morning on Radio 4 (8:10am) R4 Interview

This guy was SO frustrating to listen to. To their credit, R4 fielded him with some good questions about the state and future of the US economy, bringing up the debt bubble, rising interest rates, the feel-good factor caused by HPI and also the Chinese owning dollars etc.

I was amazed that he simply ignored or denied all the points put to him, he spun all the negatives such as Chinese cheap imports and their hold on the dollar as good for the US economy!

I was not paying attention during the 90's so my question is, was there such a massive denial prior to the last crash?

I know this is the US economy we are talking about, but the similarities are there aren't they?

The scuttlebut here in the U.S. is that our esteemed (cough) President wanted to fire John Snow after last year's reelection campaign, but Bush couldn't find anybody else (who the markets would accept) willing to take the job. All the hot-shot economists know we're heading into serious problems and they don't want to be at the helm when the country tanks.

:ph34r:

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Maybe the Yanks do not care? Maybe, just maybe, they want the dollar to tank making all those dollar IOUs held by the Chinese and Indians to become a fraction of their current value? Maybe, just maybe, the Yanks have a cunning plan?

Surely if that happens, not only will the debt be worthless, but the US will become worthless.... are there not worse implication if the dollar tanks that offset any benefit of loosing the value of the debt?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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