You see, when the youth of your entire nation major in sociology or philosophy or women's studies, NOTHING OF VALUE IS PRODUCED OR IS GOING TO BE PRODUCED and therefore your currency has NO VALUE because what are you going to buy with that currency?
Social worker services?
A screed against men?
A 23 year old pontificating about trees falling in the forest?
Yeah, right, countries are going to just buy up dollars so they can get their hands on that!
You see the Yuan has value because in China they produce, well, EVERYTHING YOU WANT.
Computers, I-pods, cell phones, building materials, clothes, you name it. Therefore there is VALUE to their currency because the STUFF you can buy with the Yuan is stuff people WANT.
What do we produce of economic value here?
Nothing.
Just whiners and spoiled brats.
This Economic PSA brought to you by Captain Capitalism.
But the Yuan cannot be freely traded yet. That's because China's economic policy is so weird that it would get out of control if they freed the Yuan of all restrictions.
ReplyDeleteBut you're right. The US has reached the point of the United Kingdom in early 20th century. The British Pound also lost its status as world reserve currency in a slow process that ran at least three decades. I wonder which currency will have become dominant in three decades.
We produce on a value added basis 25% of the worlds manufactured goods or $1,545,400,000,000. For comparison, Japan at number 2 produces $ 961,930,900,000 and China at number 5 produces $748,078,800,000.
ReplyDeleteDoes that help?
Mark Sherman
No Anon,
ReplyDeleteNot by my standards.
Because I ask what we COULD produce. What is our POTENTIAL. Because it doesn't matter what we produce TODAY, it matters what our future is (not to sound all pansified and lefty).
Oh, and by the way, I'd LOVE to see your sources on that data. Do you have references/quotes/sources or is this just some BS leftist premise I'm supposed to swallow whole like "torture doesn't work."
Even if your sources prove correct, the true crime is the generation of wasted labor we have and the utter failure to achieve its optimal performance. We could EASILY have an income per capita of $100,000, but instead we opt to placate idiotic, lazy masses to let them wallow in their own self pity of patheticness blaming their ineptitude on "racism" or "sexism" or "classism."
I am so sick and tired of this utter bullshit where we excuse mediocrity away with non-related 3rd party excuses.
The US is a bunch of LOSERS. Spoiled little brats who achieve nothing more than a mere fraction of what their potential is.
We could CURE CANCER
We could ERADICATE POVERTY
We could ELIMINATE RECESSIONS
but oh no, we need to be concerned about peoeple's "feeeeelings" and their "self esteeeeem."
Meanwhile you send me some BS stats on "value added" when the real question is what is the POTENTAIL we could achieve, not how much we achieve relative to a nepotistic kierestsu failure and a corruption infected society.
Raise your freaking standards.