I do hope our politicians have the balls to manage Trump. It's going to be chaos in the US and no doubt much of it will slide downhill and affect us. Unfortunately Turnbull has already chosen the conga line of suckholes approach while China is probably wetting itself laughing at our predicament. I like to keep things simple so I can understand them better. I've mentioned these things before in another thread but my mantra is going to be "globalisation and automation cannot be reversed." From that my sub-mantra is that we are going to have to manage them far better than we have. The neo-liberal approach dragged up from the 19th Century is not going to do it for us. Turnbull has stopped banging on about excitement and change and all the rest of that drivel he fed us. Now he's simply fighting to hang onto his job. He has no hope. He will be gone within months and I have no idea who we will get as PM. I can't see any in the cabinet with the ability to do the job. I'm almost thinking a government of national unity might be best for the crises we are yet to confront. It's going to get ugly very soon and unfortunately we're not ready for it.
Libs stand for: no vision, no vision, no vision - business as usual. Always looking to the past... Labor? Not much better, a fraction better however Next PM? Hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm Cheers
Chaos is putting it mildly, mayhem I think is a better term as mayhem denotes a violent outcome, a better word for the outcome would be havoc. What amazes me is how soon people forget things. Early in this millennium we wrote the date as 2001, 2002 I suppose because it seemed strange to write 01, 02 but lately it is easy to write 14. 15, 16 so I suppose we have just forgotten that this is the 21st Century and we are still living in the past. My father turned 100 last may, his date of birth is 12/04/16. The date he turned 100 was 12/04/16, wow time has stood still. To some people, and most of the Lib/Nat are in that bag, well maybe a significant proportion of the Lib/Labor government, most of the Nat and nearly all of one nation want to go back to the 20th century. Wake up people, this is the second decade of the 21st century. In the late 1950s a guy by the name of Pete Seeger wrote a song, "Turn, Turn, Turn" which was originally released by The Limeliters but made famous by "The Byrds". The song was based on Book of Ecclesiastes.3:1-8. The KJV says There is also another Bible verse, 1 Corinthians 13:11 now I am not a religious man, I suppose I am an agnostic, but that doesn't mean I cannot find truth and power in the words. Again I will refer to the KJV The wisdom in these words is profound, fairly obvious but profound just the same. They mean that there is a time and place for everything, but there comes a time when we have to move on, to put away the past, not to forget it, but to move on, go forward. This is something most of the world needs to do. The systems of commerce, governance and politics all have served us well (to a degree), well we survived anyway, and we have advanced. When I wore a younger man's clothes (apologies to Billy Joel) the world was significantly different. I remember my first date, a young lass who's father owned a farm a little further along the road I lived on. I remember as if it was yesterday ringing her to ask her to go to a concert with me. I picked up the phone and a voice said "Number please", I said her number, lets say it was 170 (which actually was our number then) and the voice said, "Thank you, connecting you now, one moment please". Behind the scenes a girl would pull out a cable and plug my phone into hers and she would say "Go ahead please". On tuesday even I wanted to ask my current girlfriend to a concert in a couple of weeks so I went on to my laptop and logged into facebook which is connected to the 4GL network through a Wifi connection to my smart phone, pressed facetime and was connected automatically in a video to video call. The first call was in 1971, the second only 45 years later. Things have changed people, time goes on, we cannot go back to those years, even if Trump, Turnbull et al would like it to. I am preparing a paper called "Capitalism: Moving on into a new millennium", you people will be some of the first to get to read it. It is just a pity our governments don't want to do a similar exercise. They use the philosophy, "Capitalism: Let's go back to the good ol days". Sorry fellas, we can't.
" It's going to be chaos in the US and no doubt much of it will slide downhill and affect us". The words "no doubt" are very strong in regards to an opinion, however you are correct that whatever outcome arises from the USA we will be affected. Old Windsock Turnbull is slowly winning favour with the crossbench in the senate, but it is costing him dearly. The price of getting legislature through this senate is exorbitant, or more precisely "extortionate" as it seems. Anyway that is his burden to bear. Whether or not he remains is arguable. There is no real standout and Abbott is done and dusted as the cross bench will not work with him. To say politics is ratsh!t is an understatement. I disagree with your view on globalisation. It will be messy to reverse as we will witness from the USA, and I am not sure they will totally dump globalisation, perhaps they will go with a Frankenstein version much like our GST...haha! However it is possible to reverse globalisation. Remember we still traded with other countries long before the powerful dreamt up globalisation, and we all survived. Automation on the other hand, may be as you say, impossible to reverse. As Steven Hawking has said, automation and technology will be the end of the human race. I fear he is correct, as he often is. Forget radical Islam, forget contagious diseases, and even forget alien invasion. The biggest threat to humans are humans themselves, and when you have billions of people without purpose, you invite anarchy. Employment is one of the biggest factors in a human feeling they have purpose. They may hate their job, but that job gives them a purpose everyday, and without that they inevitably slip into despair and desperation. The old saying that, " idle hands do the devils work" could not be more appropriate. Unfortunately it seems that automation and globalisation are somewhat joined at the hip. Or at least are seen that way. "I'm almost thinking a government of national unity might be best for the crises we are yet to confront. It's going to get ugly very soon and unfortunately we're not ready for it". mmmm..... Well the world certainly isn't going to get any prettier, you are correct in that, but a government of national unity??? Where in hell are we ever going to find something like that? lol. Might not be in our time old mate....
oops, my bad again, ok 12/05/16 I have a sister, a daughter, grandson and my wife all born in april I just didn't think but the message is the same
I was enjoying your story as I always do but being a May baby I knew exactly what numerical to look for...lol!
Is this a serious statement? He'll be a puppet alright. This guy has his own interests to worry about. Like I said a few times, Americans have cut out the middle man. Yeah, it is generally a smart economic call!
" Americans have cut out the middle man ". This is exactly why Donald Trump is the President elect. Eight years of Obama and Hillary catering to everyone except the working middle class.
You guys run with the same boring lines constantly, I'm not sure how you do it without going bonkers(Maybe that's why people are able to do it there). How on earth do you connect a person who thrives on the misery of his fellow man as being more thoughtful about ordinary America. How do you not get that he is playing the simple politics of "divide and conquer"! He will do it so blatantly but he knows that his supporter base are that caught on their petty little party divide that he could grab women by the pusssssssy and still win the election !
So many topics to discuss and debate on these forums... I have been extremely busy for a while so being the first time to come and see what is being discussed in Australia and all we see is the same hate and vitriol from pretenders and so called intelligencer and nothing to add. Yes, Trump is serious discussion point yet Australians appear to be more interested in how to deal with the incoming US President than actually discussing Australian issues. We so often hear about Australia should not do this nor that when it comes to the US and one party is better than another at dealing. We so often hear the rhetoric of the ALP and the Coalition on US policy and yet all these so called politicians come to the table with gravel rash on their knees drooling for the mouth begging for attention. The worst thing to come from the US election of Trump is the fact he was elected on a racist, misogynistic war mongering voice. Taking endorsements from KKK and many other patriots groups for his racist white America comments blowing of disrespect for women as locker room talk and being elected by majority of people. No matter what anybody claims about him as president the very point that majority of Americans who voted appear to accept and embrace these beliefs. I don’t know what Trump is going to be like as President and like you I held considerable distaste for the man himself. BUT since being elected his rhetoric and stance have change to the point where he is appearing to be better politician than any of the current lots around the world. The fact the world has been shifting paradigm has nothing to do with Trump, the speed of change has been considerably slow considering the fact there have been many triggers for the landslide you point too. This very lacklustre movement has built an air of complacency where people, who hold bigotry and hatred spend most of their time trying to hide and overcompensate for their perverted beliefs. I do think Trump is actually the right person to have in the job should it “get ugly” around the world. Should it be left to the gravel rash Shorten, Turnbull or even other wannabee world leaders the world will be left sitting discussing the actions of some people offending the sensibilities of another while the knives are driving in… Trump maybe the worst or best President the US has ever seen, time will tell. BUT he IS president elect by a majority of the US voters. DEAL WITH IT. (*)(*)(*)(*) the US elected a president who made a plank of wood look like a computer, he is at least smarter than that…
Here's a very subtle stab at the US, Trump in particular from China... I wonder if they picked up on it... China helping to stabilise bitcoin currency by adding a fee http://www.businessinsider.com.au/10-things-you-need-to-know-before-markets-open-in-australia-and-asia-v5-2017-1 I have to hand it to the Chinese, very skilful at subterfuge, they pull it off well
Big question is, do we need an orientation/leading currency like the US$, or any other currency? Wouldn't the Swiss Franc be more solid, if we need to look for alternatives? Cheers
My vote is for the Yuan to be the next global currency added to (Yen, Euro, Pound, USDollar) 3 years ago China started to call for a new reserve currency, probably why Donald suddenly wanted to declare them currency manipulators. China calls for new global currency http://abcnews.go.com/Business/story?id=7168919&page=1 The following article from 2015 suggests that China's Yuan passes the two tests required for a global currency https://www.wallstreetdaily.com/2015/10/16/yuan-reserve-currency-china/ I think this push from China for the Yuan to become a global currency is very much at the heart of Donald Trump's issues with China. Trump has shot himself in the foot, because he has now destabilised the US, and this increases the prospects for the Yuan. btw the Sterling also dropped overnight in anticipation of brexit financial pain to come
Currency ebbs and flows. Like shares, currency is also about speculation. In terms of Brexit, nobody knows how this will effect the economy, other than the fact that it will effect it in some way, positive or negative. So it is normal for a currency to cop a drop when things are a little unknown. Might be a good time for a UK holiday. As far as China owning the base rate currency I don't know. USA still has the largest economy in the world and it will be some time before China can vie for that title. For this to happen Chinas middle class must grow exponentially and household expenditure must also do the same in order to consume what the USA does today. We are not talking a few hundred thousand, we are talking near on a billion people must be able to hold middle class standard in order for domestic consumption to reach the percentage volume of the USA. With this they will create equilibrium in society, however this will come at a huge political cost, and the current socialist system will no longer be able to hold relevance in this growing beast of an economy. Their current political system will quickly become an anchor holding it back. I am not sure China is stable enough to take this massive responsibility on. Trump has four years, maybe less if some of these accusations catch up with him. He has a congress who do not completely agree with him. He owes them nothing, and they owe him nothing. No favours paid. You can not justify a complete upheaval of financial systems because someone you don't like became POTUS. That is just plain crazy. A change in financial base rate is all the world may need to fall into a major economic collapse. Yes it can be rebuilt under a new system, but gee how many people are going to be destroyed, because some fool played POTUS for a few years. Trump is running lip service to the Chinese and they are back chatting for effect. China are not interested in anything but China, so the responsibility of the world economic base rate is certainly not on there agenda. YET! haha.
They won't remove any of the four global currencies but they could add another... the Yuan, there's no need for upheaval. Adding the Yuan would affect the value of the USD because China is heavily invested in USD and very likely will reduce this investment if they can trade in Yuan. It would not surprise me if Trumps monetary manipulator remarks are due to China pursuing this. It's true the Chinese were monetary manipulators but have gone out of their way to refrain from manipulating currency for a while now. http://www.forbes.com/sites/timworstall/2016/11/13/trumpd-right-china-is-a-currency-manipulator-but-theyre-manipulating-the-yuan-up/#753200fe27a6 What happens remain to be seen ps. regarding Chinese is only interested in China... Well America is just interested in America and Britain is just interested in Britain and on and on and on we go
I'll just add that the Chinese economy is bigger than Japan's and yet the Yen is one of the four global currencies and the Yuan is not
And you wont have to worry about the EU shortly. You will also see India's economy surge as Modi is ushering India into a more pronounced global position. India is the sleeping giant and Chinas biggest threat economically. I know of several multi national manufacturers who are currently setting up factories in India.
Well what do you know... the Yuan has already on the quiet been added as reserve currency China is selling US Treasuries at a record pace to support its currency This is really interesting, I can't see China putting up with Trump trying to (because it's not going to be easy) declare them currency manipulators, let's hope he doesn't... won't be good for anyone. http://www.valuewalk.com/2017/01/is-china-dumping-u-s-dollars-answer-yes-and-no/
I must say only a week in office and Trump has made more Americans look like infantile morons. He already (along with many leaders) declare China as currency manipulators, it just makes little difference as it is more af a tactic to force China on the back foot in any trade wars and negotiations. Trump has demonstrated his belief that America is a must to trade with because, Um their there??? I am not really sure why he thinks nobody else will trade between themselves, but he does and he has considerable support for that belief. China, however, was already building an economy to rival the US which will step in and fill the hollows Trump leaves with his arrogant belief that America will do without other nations. By the time his supporters figure out he has no idea what he is doing it will be far too late. So with your question, The red back may very well surpass the US green back and a hell of a lot sooner than people realise. People have been warning that the Chinese element is an issue and needs addressing, unfortunately America elected a short sighted clown who thinks he can manipulate them to his advantage…
