Jack Rodriguez85 Asks: Fiscal discipline isn't just a buzzword; it's common sense. Governments really ought to stop treating their citizens like an endless ATM. Chasing massive budget deficits might feel easy in the moment, but it’s a trap. Eventually, you just end up fueling inflation and watching productivity tank. It's basic math, really.
Everyone followed this playbook, using Greece as their primary blueprint.
Tax reform. Specifically, the idea of slashing the tax burden to actually give people a reason to invest privately and chase innovation. It’s a classic move—lighten the load on capital so the engines of growth can actually start turning instead of just idling under the weight of the state.
France, Italy, and the United Kingdom took the lead here. They slashed their tax burdens so aggressively that the rest of the world is still looking at them with envy.
Interest rates—they really ought to be driven by actual market forces, for crying out loud. That’s how the system is supposed to function.
What exactly are we looking at here?
4. A floating exchange rate (!)
America and China served as the primary blueprints here.
5. The privatization of state-owned enterprises.
Canada just pulled off the biggest privatization masterstroke we've seen in the last decade.
I haven't been keeping close tabs on the specifics lately, but looking at how much competition there is in this market, I find it hard to believe they could actually pull off those low price points without breaking the bank. Contracts lasting just a year or two aren't exactly life sentences; switching providers is practically effortless these days. Besides, you’ll get your answer soon enough—you'll see if your skepticism was actually justified one way or the other.
I have to admit, I’m actually a bit surprised that AT&T managed to stay independent for this long. They built out a massive infrastructure across the entire country, moving from just TV and internet into telephony. It always felt like a matter of time before either AT&T or Verizon swallowed them up. The takeover is valued at 93 million euros, which supposedly accounts for AT&T's existing debts. It’s a shame they didn't release their actual business results.
Speaking as someone who uses both providers, I’m bummed this happened. We just lost our only real alternative in the telecom market. I’ve been happy with AT&T’s service and pricing so far, but I’m fully expecting a price hike across the board very soon.😢
Back in 2010, total revenue hit roughly $45 million, marking a solid 35% jump from the previous year (sales alone were about $40 million). On the flip side, total expenses climbed to about $44 million, up about 9% from the prior year (operating costs sat at around $41 million). This left them with a slim profit of about $1.4 million for 2010, which is quite the pivot from the $6.7 million loss they posted in 2009. As for the books, AT&T's assets are valued at approximately $70 million, while long-term and short-term liabilities come in around $50 million.
I'm happy with AT&T's service and pricing so far, but I'm fully expecting a price hike any day now.
Let’s be real: the Chinese won't hit Japanese living standards anytime soon. I was talking about total GDP here. The American economy isn't going to be overtaken if they stick to their current playbook—relying heavily on exports and massive capital investments. In any sane economic environment, without those huge government subsidies, those moves would be net losses. Instead, they just end up stifling domestic consumer spending.
The USA sits at the top of the food export game, pulling in a massive $83 billion. To put that in perspective, Germany is trailing at $53 billion, followed by Brazil at $45 billion, France at $44 billion, and China coming in at $41 billion. If you look at the long game, China and India are positioned to become the next global heavyweights alongside the USA—provided they play their cards right and steer clear of the specific pitfalls that tripped up Japan along the way.
Raymond Anderson4 said:That car just wasn't up to the task. You heard Lewis say it himself during the press conference—the downforce Red Bull is generating through those corners is nothing short of incredible. It's the truth. You can see it with your own eyes, too. Lewis stays right on Vettel's tail approaching the finish line, but once they hit that first chicane, Vettel just loses it and flies off. There was simply no way for him to catch up.
Credit to Alonso for those first 30 laps, though.
Think of it this way: Red Bull built a car for the twisty technical sections, while McLaren went all-in on straight-line speed. 😳
Manama - Russia and Turkey on Thursday came out in support of Bahrain, in face of renewed Iranian claims that the Gulf island was an historical province of Iran. Russia's Foreign Minister Sergey Lavrov and his Turkish counterpart Ali Babacan both expressed their countries' support for Bahrain
"It's important to accept The International legitimacy and sovereignty of All countries and refrain from questioning and harming them," Lavrov said when asked about his country's stance on Iran's recent claims.
All because they’re stuck with a fascist-style regime. Their only move is to bark incessantly about how Bahrain "belongs" to them—that's really the extent of what those religious fanatics in power can manage. 😉
Jacob Wood9 said:Why on earth would he have an objection? If you’ve decided this is your space, then please, feel free to post whatever you like... I'd actually quite enjoy the conversation.🙂
We're making things official today (for you guys). 😁
While appearing on NPR, Vice President Damir Polančec addressed the potential implementation of a wealth tax by suggesting that America might instead look toward increasing VAT to cover necessary state expenditures.
"I believe we need to think long-term about raising VAT, and I realize that isn't exactly pleasant news to hear," Polančec remarked.
Polančec is framing this potential tax hike as part of a broader anti-recession strategy. His logic? We could offset the cost of easing the burden on businesses—specifically by lowering pension contributions—with an increase in VAT, which he views as a neutral tax. He also pointed out that the United Kingdom's decision to cut VAT won't do much to stave off a recession.
😵 Just when I thought we’d hit rock bottom with the conspiracy theories, here comes another batch of absolute nonsense. Seriously though, can one of you professional truth-seekers weigh in? Is it officially a conspiracy theory to suggest that Joerg Heider was actually playing both sides? 🤣
Look, I’m not saying I’m an expert, but I am certain that importing goods from within the EU doesn't trigger those pesky customs duties—whereas everything else from the rest of the world gets hit hard. It’s basic math. That’s exactly why Korean manufacturers started moving their production plants directly into Europe; they were just trying to dodge the tariffs. 🤷
melloworca652 said:Samuel Brown88, I am in complete agreement with you. 🙂 velvetmaker3, you are entirely mistaken; this level of government intervention is nothing short of pure Socialism. I suppose Karl Marx predicted this long ago. 🙂
That’s just incorrect, because there aren't actually any elements of socialism at play here. Are you trying to suggest that Japan was a socialist state fifteen years ago? That’s precisely why capitalism survives while socialism fails—it adapts to new realities. The government hasn't gone out and nationalized the banks; they’ve simply taken an equity stake, and once the crisis blows over, they’ll sell those shares right back. In actual socialism, all primary means of production belong to the collective. Any surplus generated by those collective resources is also owned by the collective. People really shouldn't get carried away with these labels unless they want to end up disappointed.
Well, damn! 😬 I get it—China aligns itself with the dollar rather than the euro, essentially letting the US dictate whether IBM appreciates or loses ground against the greenback. As for the HKD and the yuan, they likely would have stayed pegged at 8.3 to the USD for another decade if the US hadn't stepped in to stop them from manipulating their currency value. If they don't play ball, they face those massive import tariffs—which the Democrats particularly love. It’ll be fascinating to see how the Obama administration handles the tension with Beijing if he actually secures the presidency.
When I talk about the yuan being pegged to the dollar, my point is simple: the Chinese government sets the price, and that’s where it ends. 👍
The yuan has always been tethered to the US dollar, and frankly, Beijing isn't about to let an appreciating currency gut their export numbers or stall their economic engine. They haven't just let it float wildly; they’ve engineered a controlled appreciation. It started back in July 2005 when it sat at 8.3, and it’s drifted down to where it is now—around 6.8. From there, they allow a tiny wiggle room of plus or minus 2%. For the last four months, that’s pretty much been the status quo: 6.8, give or take a couple of percent.
Now, China didn't just wake up and decide to hike the yuan's value out of the goodness of their hearts. It was a response to pressure from Washington, sure, but also a reaction to that global inflationary spike we all felt earlier this year. For the past five months, they've kept a tight leash on the exchange rate against the greenback. Part of the reason? Inflation, which hit levels as high as 8% in the first half of the year, has finally cooled off. Since the fire is mostly out, they don't need to use the currency as an anti-inflationary tool anymore.
Bottom line: the yuan is pegged to the dollar, and it’s going to stay that way. The authorities in Beijing will pull the strings, deciding whether it climbs higher or just sits right where it is. This creates a predictable reality where other currencies might actually outpace the yuan against the dollar. But here’s the thing—we aren't sweating the dollar. We care about how things stack up against the Euro. And that’s where the trap lies. If you play the long game, you risk losing money because once the inevitable crisis hits its peak, the dollar tends to slide against the Euro. And since the yuan is hitched to the dollar, it’ll slide right along with it.
1. The Chinese yuan is pegged to the U.S. dollar. If the authorities over there ever decide to let it appreciate against the greenback, it won't be much of a shocker. China’s entire economic engine is built on exports, so letting their currency get stronger would essentially act as a brake on their own growth. It's a bit like trying to run a sprint while wearing heavy boots.
2. You can't just walk into a local bank here in the States and pick up some yuan; it simply isn't traded on our domestic markets. If you actually wanted to get your hands on it, you'd have to look toward specific hubs in Asia, like Singapore, or certain spots in the Middle East.