BUSH yes or no

limerickman

that's right - Pinarello too.

A mate of mine has a bike shop and he's starting importing Magnesium frames from the Czech Rep.
Very competitively prized too.

limerickman

The point I was making is that China will pull the rug from under your economy.
Their costs are far lower than the USA and Europe.
Your country cannot compete with them in the manufacturing stakes.
You're too expensive.

Also, the chinese are refusing to buy up your country's dollar - thus this is
a contributory factor in the decline in the value of the dollar.
(previously the chinese and russians keep their reserves in dollars - seems both country's have now opted to denominate in euro's, instead).

Thus the combination of countries refusing to prop up the dollar and the fundamental weaknesses in the US economy - and the $9 billion that your country is spending PER MONTH fighting an un-winnable war in Iraq - are
generating a lack of confidence in the US economy.

FredC

I'm not an economist by any means, but from what I've been reading over the last few days the US dollar is in shit street, as is industry. This is not a blip, it's a deadly situation. No doubt I am inviting criticism here, but my view is that with the re-election of Bush for another term the confidence has drained even further than before and the principals of commerce and industry are making plans to re-align their stragegy away from the USA. As the old adage says ' There is no sentiment in business'.

__________________
The media is a self perpetuating publicity stunt.

limerickman

You are right - it is in the shitter, and that clown in Shite House is completely screwing the average Merkin.
The Chinese/Russians don't suddenly take decisions to convert their national reserves from dollars to euros overnight.
This decision is taken because they know that Oliver the Chimp is screwing his own economy and that the dollar (and the US economy is fundamentally weak).

Of course, the fucking clowns on this site who supported Oliver the Chimp can't see this (depsite my telling them this since March 2004).
The US interest rates will start climbing - my guess and it a guess, is that January-June 2005 will see rates go up : estimate 1-3 percent in that six months.

They're praying that people will spend between now and 31st Dec : then they'll increase the interest rate (watch those credit card repayments increase in the new year).

Sterling will be the currency of safe haven.

davidmc

Information is Power. Bill Gates gets @ $700.00 Amer. for a couple of disc's comprising a worth of about $.07. Its the information on the disc's that give them value. The information comes from American inventor's. We invent it, the Japanese refine it & the Chinese pirate it. W/o us, it would'nt exist Enough already w/ the American bashing. It seems like a fraternity or national pasttime, to bash America. World leader in too many area's to mention. Do something challenging. Anybody can take "pot shots" at the "big boy on the block". What operating system are you using right now Methinks it's, more than likely, American.

limerickman

You mis-interpret.
I am not knocking the USA - I am knocking Bush.

His economic policies (such as they are) are causing your country big problems.
Down the line - the federal deficit will have to be tackled.
Down the line - personal debt levels will have to be tackled.
Down the line - the trade deficit (imports/exports difference) will have to be tackled.
Down the line - the issue of the continuing loss of jobs to other countries (China, for example) will have to be tackled.

These are serious issues - none of which Bush appears to know how to deal with.
He blames 9/11 - that happened 4 years ago.
He can't keep blaming something that happened four years ago, for ever.
He starts a war - costing $9 billion per month - in Iraq.

I'm not knocking the USA - I'm knocking Bush.

davidmc

Yes, he (whom i did'nt vote for incidentally) is spending in a way that would make a liberal "blush" (jealous)& its got to be reined in. Congress is complicit in that boondoggle, as many are aware. Don't know if he'll address it as he's a "lame duck" president. As far as pers. debt is concerned, bankruptcies have increased in the last five years & that is something to be very concerned about & the people have to take responsibility. I remember hearing that one's accomplishments could be gauged by their amt. of debt. As far as nat. debt is concerned, as long as it remains below a certain percentage of gdp, it will be acceptable ( i took econ [micro & macro] in school). That war, he got us in, is draining our purse & taking lives when Bush opted out when he had a chance to "show his stripes" in 'Nam. It is a diversion & an expensive one at that !!!

limerickman

The same disease is here too.
It's funny but "the media" here portray the perception that you have to ABC type of car, and your house has to be XXXX sq ft, and you have to take three holidays a year etc.

Well, if having a house of xxxxxx sq ft requires you to have to borrow €300k
from a bank - you will not own that house until the final payment on that mortgage has been paid.
Ditto for buying a car.
Unless you pay for all of these cars, houses and consumer goods in cash -
you don't own them.
And this is the trap - people are being duped.
They feel that they have to have this things now - and fail to consider that
repaying debt is a long-term issue.

FredC

There is another 'red herring' as well. Great store is put on consumer spending in the run-up to Christmas. They seem to think that it indicates confidence in the economy. Two things here, plastic money, live now, pay a lot more later. And as every retailer knows, they sell nowt for the next months at least. This happens in UK, and no doubt in Ireland also. Unlike all those people who daren't open the post. I have one bank card (not credit), one cheque book, and several accounts, and I'm still putting money away, even though I'm retired. How did I get to this point? By never giving 20% of my earnings back to the banks. Nobody forces anyone to live on plastic debt. Now the next thing is that when you lose your jobs, the banks still make you pay. Frightening ! What about the repossesion order on your debt ridden house. Scary ! Car confiscated ! Bankruptcy judgement against you ! Credit cards taken away ! Life support machine turned off.

__________________
The media is a self perpetuating publicity stunt.

limerickman

Agreed - totally.
I don't have any debt : why ?
Because I pay cash - cash for everything.
Save your money and your buy the item.

The only outstanding loan I have - is my mortgage.
And that is referred to as "good debt".
I drive a car - an Audi.
It's six years old and I intend to get more mileage out of it because it can.
OK - I'd like to have a newer car but do I really need a newer car ?
No.

I work with a bloke - early 30's.
He's got debt all round him - he's still paying off university loans, he's got
credit card debt, he's got a personal loan from the bank for a car and he's trying to buy a house as well !
On top of that he's getting married - in all, he's €20,000 in debt.

I don't know - it's amazing how people operate these days.
You don't even need to have a record with a bank to get a loan these days.
When I started the work - the first thing you did was open a bank account and start saving so that you had some record if you wanted to get a loan/mortgage.
Getting to meet a bank manager was like getting an audience with the Pope.
Maybe things were better in the old days.

FredC

Mind you these financial advisors in the banks aren't much use. 22 and know nowt. It took me ages to work out why people are stressed, depressed and suffering from anxiety related migraines. 'It's that old plastic magic got me in his spell'. They come in the off licence for 20 fags on the card. So that's a fiver then? No it ain't, it's six quid by the time they've paid for them, and they moan about the cost of fags.
I had two VG bank managers in my time in business. One day I said 'I've seen this place for sale. House, shop, yard, lairage, buildings. Can you go and have a look?' A week later I asked what he thought. 'Not been, no time, Oh just go and buy it, I'll sort the paperwork.' Try that one these days.
I think things were better then because the banks, odd as it might seem, were actually helping you manage your money by denying easy access. It's far easier for them to lend money, because they've got you by the balls, and can make your eyes water by tightening the grip. Return more or less guaranteed, unlike lending vast sums of money to Banana Republics, and countries run by dictators. Simple sums WTC falls down car insurance goes up.

__________________
The media is a self perpetuating publicity stunt.

davidmc

Banks over her give away credit cards because it shows productivity for the buisiness day. Then, later on, if people can't pay; they sell the debt to a third party to "nip at the heels" (collect) on the debt. Credit is merely an accounting trick that doesn't do anyone any good except for the lender. I found a way around this, remain unemployed & homeless but that only suffices until i feel the need for the finer things in life such as transportation & shelter.
What relly gets me is people who buy large, powerful SUV's who don't really need them. There's plenty of those types over here.These behemoth's use more fuel, tear up the roads (see 'em run over curbs all of the time because their turning radius is too large) & they are deadly to other vehicles; in the event of a collision. There's a law, in california, that limits them (SUV's) to certain roads. I think they ought to extend that ordinance to the entire country. American's are guilty of this sin (buying SUV's), either through vanity or ignorance. "Conspicious consumption" makes me sick & my country is one of the worst offenders The middle eastern, oil-mongers love us for this reason. I wonder if its a conspiracy between them & the oil refineries/distributors, in this country, to sell people these vehicles which they don't need.

FredC

It is rare, and virtually unknown that I recommend reading to anyone, but I would suggest the reading of all Vance Packards books, which were written many years ago, as to the present and futuristic economy of his time.
Of course I only expect a very few comments, possibly none.
After all one has to read the things.

__________________
The media is a self perpetuating publicity stunt.

limerickman

May be that's why that ships captain was complaining - because Americans are becoming overweight due to their total reliance on transport instead of walking/cycling ?

I could be wrong but I don't think that the vehicles you describe would be allowed access to Europe.
They're gas guzzlers.

Travel to Holland and Belgium - people commute on bikes and/or public transport.
And they're healthier for it.