Oh that's right, the world has an unlimited pool of labor and resources.
Insult me all you want - but you're the one who doesn't get it. Economic growth must stop sooner or later. There's only so much copper. So much room. So much arable land. So much fresh water produced per day. When you're on the exponential part of the curve, it's going to be sooner than you think.
That's the fun of truly massive populations. The largest state in the US is equivalent to a rounding error in China. If you say that 1% of the population is ultra wealthy (a fairly normal assumption), 1% of China is equivalent to (insert US state or European country here). Don't even get me started on the middle class. And every single one of them is going to want a car, some televisions, computers, iPads, designer shoes, etc. The size of this market is staggering. On the other hand the strain on the world's limited resources and logistics will also be enormous.
As a Canadian all I can say is that it is very sweet, with the Americans needing $1.04 to get one of our Canadian dollars, to remember all the jibes about Canadian currency being worthless as little as 5 years ago. What is even sweeter is that many Americans can no longer afford to travel abroad. Yeah it sucks for the tourism industry, but we welcome Europeans and Asians who have real money, don't speak so loudly in restaurants, and wear something other than dirty T-shirts, shorts and flip flops...
Have you looked at Iceland's economy recently?
I'd rather have 12 months of chaos and a healthy economic recovery than what is currently happening to the US.
Most sheep have no idea about anything. I mean it stands to reason that if you're somewhere on the right side of the normal curve, there is a hell of a lot of people to the left of you. Remember that it's a zero sum game. Lots of people need to lose a little money in order for us to make money, so actually educating them is counter-productive to us.
Yeah because the US dollar is not undergoing any inflation at all. Oh wait no, the US simply measures inflation differently by first taking out the prices that are going up (like say energy and transport), then massaging the numbers with subjective bullshit algorithms like hedonics, and then printing a number that has absolutely no contact with reality anymore and calling it inflation.
Tell me why I should buy a 10 year note at 3.4% per year in a currency that is shedding value like never before on foreign exchange markets and whose government is denying inflation while at the same time conducting policy that is leading to a very real risk of hyperinflation? No thanks. I can get 8% interest on the Costa Rican colon and surprisingly thanks to the devaluing US dollar, the exchange rate is also working in my favor giving me a net of about 10% per year in US dollars. Now when a currency from a 2 bit 3rd world banana republic is more solid than the US dollar, you know that you guys are in trouble.
but the BRICS by themselves are unlikely to to be able to drive that change.
However a recent Bloomberg article pointed out that China is now Germany's #1 client, replacing the US which has held that position almost since WW2. Considering that China's growth has "slowed" to a mere 9.7% per year, it won't be long at all before they are the largest economy in the world and we will have to do as China says. Another interesting side note is that all those German imports - precision factory machinery, BMW's and other cars, electronics, etc require energy to run. China's demand for oil is about to explode, at a time where we may be nearing peak oil. This is going to be very, very interesting.
The other side of the coin is that the US dollar as the world currency reserve means that the US is in a very special situation. The US is the only country in the world that can print US dollars. Every other country needs to trade valuable goods and services to obtain one US dollar with which to purchase commodities. The US can simply print it, and in fact this is what it has been doing for a while now. However the minute the US stops being the world reserve currency the US no longer can print its way to importing vital commodities. It will have to earn them like everyone else. Historical data shows that every country that loses status as the world's reserve currency (recent example, the British Pound pre WW2) undergoes severe economic distress. Americans are in denial of this, but irresponsible monetary policy always has consequences. A big hint is the Euro at 1.44 (as if the Euro were in great shape) and the Canadian dollar at 1.04 - not to mention all the other currencies. People don't want US dollars anymore, thanks to Ben and his buddies.
Yeah the excuse was that it's not discrimination because they refused to higher ANY high IQ applicants. So by that same standard, if you refuse to hire any black people you are not discriminating either. Wtf - only in America, land of the double standard.
In other news the plaintiff died of prostate cancer last year, the police department in question no longer exists, and the judge who ruled on this case quit his job and became a spokesman for the gay rights movement. Wtf - only 12 years... did they even have internet back then?
It's also completely wrong. The ability to talk is innate in humans. Whatever our non-talking evolutionary ancestor was, it was NOT human and unable to talk like we do today. It's not that "man" suddenly got smart and wised up one day, but rather a new, wiser species was born and was immediately able to communicate better than its precursor, even if this early language was not as efficient and full of concepts as language is today.
Seems a lot of things all around the world are getting voted for "urgently" nowadays. It's the new political trick. Don't even bother reading it, just vote for it quickly so you can pretend it never happened.
There is no "lethal injection" drug. There's only a very useful drug that is being abused by the US government to perform executions. That would be like saying you should sue the power company because they provided the electricity for the electric chair.
Speed isn't everything. Efficiency has increased tremendously. Today's modern aircraft can ferry more passengers further on less fuel than ever before.
But then again you could argue that Google adds value to all internet users through its web crawling and indexing, whereas facebook just provides one more avenue of communication for teenagers and middle aged lonely divorcees trying to get back in touch with old friends. Not the same market.
I had a facebook account at the beginning. I canceled it as soon as I realized they don't take security seriously, and I am never going back. The trade-off between perceived value and lack of privacy just isn't worth it for me.
Slashdot Mirror
All some bright fool needs to do is figure out a way to glue it together like cardboard, and we'll never be able to get our parcels open!
I head a 500GB seagate drive fail on a brand new laptop after 2 weeks of use. Fuck seagate. They were good 20 years ago.
global economy is NOT a zero-sum game
Oh that's right, the world has an unlimited pool of labor and resources.
Insult me all you want - but you're the one who doesn't get it. Economic growth must stop sooner or later. There's only so much copper. So much room. So much arable land. So much fresh water produced per day. When you're on the exponential part of the curve, it's going to be sooner than you think.
No, the bank turns around and lends it out at 20%.
No, that would involve me buying US dollars and I don't want any. Plus extend the window to 10 years, and I will bet you an ounce of gold.
That's the fun of truly massive populations. The largest state in the US is equivalent to a rounding error in China. If you say that 1% of the population is ultra wealthy (a fairly normal assumption), 1% of China is equivalent to (insert US state or European country here). Don't even get me started on the middle class. And every single one of them is going to want a car, some televisions, computers, iPads, designer shoes, etc. The size of this market is staggering. On the other hand the strain on the world's limited resources and logistics will also be enormous.
the US doesn't actually need anything from anywhere
Yeah, don't need crude oil at all. The US produces much more than it consumes. /sarcasm The rest of your comment is also trailer park drivel.
As a Canadian all I can say is that it is very sweet, with the Americans needing $1.04 to get one of our Canadian dollars, to remember all the jibes about Canadian currency being worthless as little as 5 years ago. What is even sweeter is that many Americans can no longer afford to travel abroad. Yeah it sucks for the tourism industry, but we welcome Europeans and Asians who have real money, don't speak so loudly in restaurants, and wear something other than dirty T-shirts, shorts and flip flops...
Have you looked at Iceland's economy recently? I'd rather have 12 months of chaos and a healthy economic recovery than what is currently happening to the US.
Most sheep have no idea about anything. I mean it stands to reason that if you're somewhere on the right side of the normal curve, there is a hell of a lot of people to the left of you. Remember that it's a zero sum game. Lots of people need to lose a little money in order for us to make money, so actually educating them is counter-productive to us.
Yeah because the US dollar is not undergoing any inflation at all. Oh wait no, the US simply measures inflation differently by first taking out the prices that are going up (like say energy and transport), then massaging the numbers with subjective bullshit algorithms like hedonics, and then printing a number that has absolutely no contact with reality anymore and calling it inflation.
Tell me why I should buy a 10 year note at 3.4% per year in a currency that is shedding value like never before on foreign exchange markets and whose government is denying inflation while at the same time conducting policy that is leading to a very real risk of hyperinflation? No thanks. I can get 8% interest on the Costa Rican colon and surprisingly thanks to the devaluing US dollar, the exchange rate is also working in my favor giving me a net of about 10% per year in US dollars. Now when a currency from a 2 bit 3rd world banana republic is more solid than the US dollar, you know that you guys are in trouble.
but the BRICS by themselves are unlikely to to be able to drive that change.
However a recent Bloomberg article pointed out that China is now Germany's #1 client, replacing the US which has held that position almost since WW2. Considering that China's growth has "slowed" to a mere 9.7% per year, it won't be long at all before they are the largest economy in the world and we will have to do as China says. Another interesting side note is that all those German imports - precision factory machinery, BMW's and other cars, electronics, etc require energy to run. China's demand for oil is about to explode, at a time where we may be nearing peak oil. This is going to be very, very interesting.
The other side of the coin is that the US dollar as the world currency reserve means that the US is in a very special situation. The US is the only country in the world that can print US dollars. Every other country needs to trade valuable goods and services to obtain one US dollar with which to purchase commodities. The US can simply print it, and in fact this is what it has been doing for a while now. However the minute the US stops being the world reserve currency the US no longer can print its way to importing vital commodities. It will have to earn them like everyone else. Historical data shows that every country that loses status as the world's reserve currency (recent example, the British Pound pre WW2) undergoes severe economic distress. Americans are in denial of this, but irresponsible monetary policy always has consequences. A big hint is the Euro at 1.44 (as if the Euro were in great shape) and the Canadian dollar at 1.04 - not to mention all the other currencies. People don't want US dollars anymore, thanks to Ben and his buddies.
Yeah the excuse was that it's not discrimination because they refused to higher ANY high IQ applicants. So by that same standard, if you refuse to hire any black people you are not discriminating either. Wtf - only in America, land of the double standard.
In other news the plaintiff died of prostate cancer last year, the police department in question no longer exists, and the judge who ruled on this case quit his job and became a spokesman for the gay rights movement. Wtf - only 12 years... did they even have internet back then?
It's also completely wrong. The ability to talk is innate in humans. Whatever our non-talking evolutionary ancestor was, it was NOT human and unable to talk like we do today. It's not that "man" suddenly got smart and wised up one day, but rather a new, wiser species was born and was immediately able to communicate better than its precursor, even if this early language was not as efficient and full of concepts as language is today.
Seems a lot of things all around the world are getting voted for "urgently" nowadays. It's the new political trick. Don't even bother reading it, just vote for it quickly so you can pretend it never happened.
There is no "lethal injection" drug. There's only a very useful drug that is being abused by the US government to perform executions. That would be like saying you should sue the power company because they provided the electricity for the electric chair.
Actually it is. There is a law against frivolous C&D letters.
So are they going to send MAFIAA members to school too, when they claim that videos are infringing when actually they are making fair use?
I want to take radioactive contaminants from water without shells in it.
Speed isn't everything. Efficiency has increased tremendously. Today's modern aircraft can ferry more passengers further on less fuel than ever before.
No, it counts as a mental illness.
Well the accounts will be real. It's the persona behind them that will be fake.
Raw fish? On a first date? No wonder...
Maybe not. After all, Google is still around...
But then again you could argue that Google adds value to all internet users through its web crawling and indexing, whereas facebook just provides one more avenue of communication for teenagers and middle aged lonely divorcees trying to get back in touch with old friends. Not the same market.
I had a facebook account at the beginning. I canceled it as soon as I realized they don't take security seriously, and I am never going back. The trade-off between perceived value and lack of privacy just isn't worth it for me.