The Bears Talk China's Manipulated Currency

[dogfight156]

great vid but it's not as simple as china v usa. money doesn't care about countries. money will always go to the best investment. the gov can't stop that. labor is cheap in china but the reason the gov isn't doing anything is because big US companies make more money making shit in china than in here. US companies were in mexico 30 years ago but left because china was cheaper. now mexico is only good for weed and hookers. yes, we're getting fucked but it's not the chinese. it's the US companies.

[cahaps]

@dogfight156 well put apple is one of them you are fucking smart rare in this world

[BenHainesStriker]

TRUMP 2012

[outlandftw2]

2012 is going to suck.

[johnbarkand]

mmmmmmmmm sorry my thing aint working

[odsta12]

What site is this program on

[thepostfk]

All your jobs are belong to us........wait, that's not a Chinese quote....

[MrSieish]

GDP and CPI index...

[MrSieish]

did so :)

[MrSieish]

We no need conqueror you we just buy you...

[jjbarbados]

Wrong. Devaluation is a tool implemented by all. In the 90s the chinese made 100USD a month , today 400USD. The real problem today is that we are witnessing the END of hard currencies. The US, Europe and the UK are expensive places , dont grow, dont create jobs, are in red debts and STILL they DO want to have Hard currencies. China has grown 10% anually for the past 20 years, raised salaries x4, This is the first time in history , the losers blame the one who wins.

[MrBigEnchilada]

2:04, WRONG.Oil and raw resources are priced in USDs all over the world, making USD the standard currency for trade. China barely has anything of that level...

[Elbottoo]

You retards have no clue. Not one of those jobs listed on the graph, were yours to begin with. A job is not yours unless you created it. Deal with this reality.

[XU0038221]

if currency increase, u.S. product price will increase a lot, it hurts the purchasing power of American people.

[KillerWhaleSFl]

Heres an idea STOP BUYING SO MUCH CRAP AMERICA!!

[jaa93997]

The chinese bear has a point

[BackInsight]

Work? Who the hell wants to work?

[angryaznman]

however, considering China holds so much of US debt and DOESNT have a constitution written by AMERICANS like JAPAN was.

US is pretty much impotent.

[angryaznman]

AHAHAHAHAHAHAHAHA its AMERICAN COMPANYS that are producing in China. THOSE are the jobs you "lost". Chinese have issue with inflation, they would LOVE the RMB to be worth more. its about time.

meanwhile, american people suffer now. if US tries anything, american companies suffer later. you think its cheap bouncing back and forth across the PACIFIC OCEAN?

[conniewalker79]

I love these video!! Why can't everyone be this intelectcual..so great and informative... inteligence is wonderful..and its funny as well....

[WarmongerWW3]

External debt (as % of GDP):

USA( 98.4%), Australia (121.9%), Norway (208.8%), Sweden (269.7%), United Kingdom (428.8%), Ireland (1,305%). Haiti (7%), Namibia(13%), Equatorial Guinea (1%). Developed Countries are world's most indebted countries. Third World garbage pay the bills and are screwed.

Conclusion: Debt is good.

[GUILDGOB]

@WarmongerWW3 What about Greece? Wah wah wah! They're burning to the ground, as will all countries that sink into debt. Most countries that don't have debt are either purposely manipulating their currency and stealing jobs from developed countries, or screwing the developed countries with insane oil prices.

[WarmongerWW3]

@GUILDGOB What they are doing is paying more taxes&debt. This is typical of poor countries: pay the bills.

[SomethingNewNow]

nice... we got plastic toys!! that's so true fucking China...

[MultiAlpha111]

keep printing your little greens, yankees. after QE3, the dollar will be off the table. The world needs a new world reserve currency

[WarmongerWW3]

@MultiAlpha111 not without a fight >:)

[MultiAlpha111]

@WarmongerWW3 fight? US vs The World? oh,yeah then u gotta have a job, huh?

[WarmongerWW3]

@MultiAlpha111 The world is extremely corrupt and divided. We can always count on puppets to help us.

[MultiAlpha111]

@WarmongerWW3 so tell me who are your puppets?

[WarmongerWW3]

@MultiAlpha111 Well, Australia is one example. Btw thanks for your support in the war against Iraq.

[MultiAlpha111]

@WarmongerWW3 you are welcome, Australia is a good dog indeed. and who else? UK? Canada? Japan? and other dogs in NATO?

[IsaacKarjala]

@MultiAlpha111 doubt it, the Chinese, Russians, Iranians, Indians, Venezuelans and possibly the Saudi Arabians are all divesting away from USD and towards EUR and JPY (amongst other things).... any county that prints a currency positioned to become a dominate currency in the wake of the USDs collapse has a vested interest in seeing the USD collapse.... most of our traditional allies will likely be against us.

[IsaacKarjala]

@IsaacKarjala Mexico, the Commonwealth Nations (UK, Canada, South Africa, Australia, Belize, New Zealand, etc etc) and Israel are likely going to be the only strong US allies as the USD approaches collapse; the Israelis can be bought by anyone willing to provide them with weapons, and the Commonwealth may very well collapse at which point our allies will likely be limited to Mexico, Canada, the UK and third world despots.

[u7alll]

this subject can be extremely complicated for most people,

but the main reason why this is all happening is because america managed to dumb down its own people some time ago, america is not a really rich country because everyone is wealthy, it used to be, the elite like to squeeze out as much juice as they can and if that means they have to dumb down there own people from there own country then they will

[TheFlannelshirt]

New trading room using ThinkorSwim opening soon. They'll be trading all futures markets.

[PetrusAvis]

The reason jobs go to china is because they will work 18 hours a day for little pay currency manipulation or no.

If they stopped devaluing their currency the people that would benefit would be the chinese. In fact, as soon the chinese stop devaluing their currency prices in the US will go up and the US economy will topple over.

[peggy6464]

@PetrusAvis The reason many of the 6 million jobs went to China is because their currency is 66% cheaper on a productivity and inflation adjusted basis than it was in 1993. A country with a cheap labor force attracts capital and a free market would drive the price of their currency up. Do you think the Chinese work any harder now than they did 17 years ago? No. Their government practices mercantilism of the worst kind while the US fiddles as our manufacturing sector burns.

[PetrusAvis]

@peggy6464 Enjoy your retarded economic theory as it drives your economy off a cliff. Go devalue your currency more. See what happens.

[Elbottoo]

@peggy6464 Well, I am Chinese and looking back 17 years, I most definitely work harder now than I did 17 years ago. So BAM, another republicon lie exposed.

Youre a fking moron to say that in the first place. Who do you think you are.

[Samson801]

Author of this is an idiot, watching CNN for 6 hours a day isn't a substitute for an economics degree. You should google "monetary policy" instead of animating pointless graphs.

[Slayer8957]

@Samson801 even if this entire vid was a regurgitation of CNN talking points, that doesnt change the fact that everything it says was true. with that said, the US really doesnt have to intervene. China is getting hit with inflation that will destroy any competitive advantage it got from an undervalued currency.

[trumansmv]

If chinas devaluing of its currency is the single greatest protectionist policy then Americas many tariffs and subsidies is the second

[Slayer8957]

@trumansmv the US has tariffs and subsidies to protect its agricultural industry, just like every other country. no one is stupid enough to leave their food supply in the hands of another country. of course the US corn lobbyists abuse the subsidies, but thats another story. if the US actually protected its industries, we wouldnt have massive outsourcing to China, India, Vietnam, etc.

[snoopyflick]

Wait, so when we shipped jobs overseas, to a supposedly less productive country but cut manufacturing jobs by 33%. So the graph showed the Chinese were more skilled.

[jesuscheung]

US manipulates its currency just like the Chinese! Just look at how many trillions of dollars the US has printed. As for job lost in the US, you can also blame Steeve Jobs for having your iPhone made in China. Ask him why he won't let the Americans to manufacture the iPhones and giving the jobs away to the Chinese?

[Touffe88]

@jesuscheung 'cause steve jobs wants MONEY and chinese are paid much LESS than americans and so at the end he can sell Ipads worth like 50$ (i don't even know if it costs this much to produce by chinese workers) 500$ to US citizens and put the difference in his pocket and in those of his investors. Whereas if he made those Ipads in USA, he would put less money in his pocket.

[pkenans]

does anyone even bother to look at the real value of the yuan? its been increasing and the reason why the us has a trade deficit is because it doesn't like to save and prefers to use the savings of china to make up for the excess demand for investing. money creation doesn't affect the real exchange rate in the long run.

[MacGyver7640]

I'm not sure if there is a single line in this whole thing that makes an ounce of economic sense.

[888soyjuice]

lol soft like pork dumprings

[JejunumJake]

Well, THIS was vaguely racist...

[ReverendProfessor]

Ha ha ha, this kindergarten economics lesson is so much BS.

[MsBreakfastatTiffany]

It is incredible to me that this Democratic administration does nothing on this issue. 50% of the S&P profits are made outside the U.S. - thanks to foreign countries who manipulate their currencies to undercut our manufacturers. China should have never been allowed in the World Trade Organization with an exchange rate pegged so cheaply to the dollar. Management & investors get richer while the American worker loses his job and gets poorer. Obama fiddles while our manufacturing base burns.

[Weleski]

@MsBreakfastatTiffany

The United States manipulates its own currency on a grand scale via quantitative easing.

Your anger is understandable, but your aim is poor. There isn't a single party to blame for this crisis; we are in the midst of a truly revolutionary reorganization of the global economy. America's post-WWII preeminence is a thing of the past, and the world has become multi-polar in nature. The *entire* political class ushered in this new world of ours; Democrat and Republican.

[MsBreakfastatTiffany]

@Weleski

The United States does not manipulate its currency, unlike China, who intervenes daily. That is the whole point of this video and in distinction is why China has taken millions of jobs from the U.S. The U.S. manipulates its interest rate policy, like every other country in the world including China, but it does not intervene directly in its currency except on extreme occasions like in the 1985 Plaza Accord. We need another one of those now multilaterally against China.

[ReverendProfessor]

@MsBreakfastatTiffany You do realize that no administration has done anything about this in the last 30 years, right?

[MsBreakfastatTiffany]

@ReverendProfessor

Yes -- that is why I am yelling about it.

[TheThinkingManCan]

good lord, someone is a genius

[ILuvagoodtheory]

u damn idiot @ 2:17

[ycmgh]

Chinese NO steal your- jahb Yankee-doodle dandy. It was you stupid pres Clinton and NAFTA.

[ScottOnPolicy]

I hope our Prez will stand up and push for free markets determining exchange rates.

[goconnor73]

@ScottOnPolicy Good luck with that. Ron Paul is for free markets not Obama.

[TheVideo5094]

@ScottOnPolicy so you want ron paul so do i

[carven2004eca]

@ScottOnPolicy Yeah keep hoping and doing nothing in the mean time. Keep waiting for someone to do all the work for you.

[123axel123]

chauvinist american propaganda. always ugly foreigners guilty of causing american home made problems.

[ycmgh]

@123axel123 i agree, but these are political problems. more specifically, we have Clinten to thank.

[Weleski]

It never fails to amaze me how so many Americans can rail against Chinese currency manipulation while turning a blind eye to American currency manipulation, i.e., quantitative easing. Flooding the market with trillions of U.S. dollars via a Federal Reserve bookkeeping entry devalues our currency. This is an intentional policy by the American government to make America more competitive; which is ***exactly*** what the Chinese are attempting to do, though they use different means.

[Weleski]

@Weleski

The sad truth is that the present state of affairs is what the corporate elite (i.e., those who control our government) want. Multinational corporations have little/no sentimental attachment to the countries in which they reside. Their fiduciary duty is to increase shareholder wealth, and, at the present time, more wealth can be generated via overseas investment and overseas trade than it can in the debt-laden, consumption-wary United States. Thus, the flight abroad (to China).

[Weleski]

@Weleski

This endless demonization of China is, to borrow from the Japanese, a bit of Kabuki theater. The party behind the systematic dismantling of our manufacturing sector has been Corporate America, not China. The multinationals recognized cost-cutting opportunities abroad and pursued these opportunities via U.S. trade and corporate policies. No single president or party is to blame; it has been a bipartisan effort. Nixon opened China, Clinton signed NAFTA. CEOs made off like bandits.

[shaynek77]

@Weleski The thing is that American and Chinese economy merged in a sense, it's not that we should be blaming China, but it is interesting to show people just how much of the economy has cannibalized to China and they have willfully participated.

[ycmgh]

@shaynek77 not willing it was nafta

[Weleski]

@shaynek77

The entire world has merged, in a sense, due to globalization and "free" trade policies. The Atlantic featured a truly incredible article recently, and one senior American executive was quoted as saying essentially; "If Americans want 10x the salary, then I expect 10x the production." The sad truth is that we simply cannot provide that value. Thus, CEO's ship jobs abroad (and not only to China) while the American middle class implodes. It's a vicious process (for America).

[julianmulvey]

@Weleski  v. interesting quote. do you remember the title of the Atlantic piece by any chance? trying to find it.

[onceRoquin]

peepee in your coke.

[mundoman]

ahhh Bill, NAFTA is not about China  it's about ...oh never mind

[rtcpdx]

For a graph of manufacturing employment that includes the percentage of the workforce:

web.cecs.pdx.edu/~rc/index.htm­l#Manufacturing

[playbimbo]

Just saw this vid over at totalinvestor com, this is the 3rd one I saw and you guys keep getting better. Jim Morrison died of heroin, hahaha.

There is talk that the big collapse will happen some time this year, I guess that's when we get even with China.

Buy silver and kill JP "Morgue".

[Slash417]

On the graph, does the rapid outsourcing of jobs starting in 2001 have anything to do with Bush coming to power?

[modelmark]

More theft by the elites through taxes on imports as a solution to a declining economy. How do you come up with this stuff? If people send you cheap stuff you want to buy and you can run the money for it of the printing press, that is not your biggest problem. You can not 'steal' a job, like you can not steal 'a wife'. It is not property.They prefer someone else.

The offered 'solution' of more theft by the enslavers, will be enthusiastically taken up by them. More freedom, not more coercion!

[KhmerD0g]

China manipulates its currency to have trade advantage because it needs to put 1.3 billions of its people to work or else they will have another Tiananmen Square protests or Mao Cultural Revolution. we all don't want to see that repeats. #OMG

USA manipulates its currency by printing money out of thin air and exports inflation to China and the rest of the world because they want to reduce debt. #FTW

so China exports unemployment to USA and USA exports inflation to China. fair game. #LOL

[staydput]

The only solution to hyper-mercantilism are tariffs.

However, because of the insanity of Smoot-Hawley rates, protective tariffs have a poisoned reputation.

The CPC is loving it.

BTW, Red China is headed for a train wreck, herself.

The First Financial World War is likely to end very badly to all fiat powers.

[CarlosXdotcom]

It so true it painful to me.

[ShelbyNeon]

Chinese bear almost correct. China does manipulate currency. However, overpaid U.S. factory workers with generous union contracts make businesses look for comparative advantage. Also, U.S. cannot buy up Chinese currency at premium of otherwise becuase China no let currency leave China. China is command economy.

[jeffgossel]

@ShelbyNeon your Chinese right? Ok right i know!

[joost1v]

The whole global economy will collapse because of currency mistrusts incl. the economy of china. The Globalist will come with the solution of a global currency the SDR and of course than Rothschild will have the printing press of the worldcurrency. We will accept the SDR because the problems are so big.

[platypusrex256]

surcharge doesn't sound good

[Michaelwiseguy]

NAFTA passed the Senate 61-38. Senate supporters were 34 Republicans and 27 Democrats. Clinton signed it into law on December 8, 1993.

Clinton is responsible for completely decimating the consumer goods manufacturing sector and the sheeple love him for it. I don't get it.

It is impossible to create sustainable employment without a healthy manufacturing sector. In addition Clinton did sign the repeal of Glass-Steagall, further insuring the US economy would be completely destroyed.

Thanks Bill.

[phuturephunk]

@Michaelwiseguy Once again, like so many people out there, you're blaming what is, in reality, a very small fraction of the problem and COMPLETELY IGNORING THE FACT THAT CHINA HAS A LABOR POOL AND A DEPRESSED CURRENCY TO PUT OUR LIGHTS OUT. Mexico is a fucking footnote (what NAFTA covers) in comparison to what China does.

I'm not saying I'm a fan of Clinton. But come on now, wize up.

[jeffgossel]

@Michaelwiseguy Clintons responsible? 34-27 that's almost 50-50 Democratic-Republican in fact more Rep. Plenty of blame to go around. Veto proof!!!!!! Clinton didn't really have a choose. But go ahead and keep your delusions. GO TEA PARTY!!!!!!!!!!

[debz12180]

@Michaelwiseguy we have to close the borders no country in the world gives illegals any welfare, taxpayers spend millions on food stamp for them and now they can have free in-state tuition? why middle class american families have to pay for their kids to go to college. we need a real leader that will stand up to the progressive left liberals!!!!

[ryanlk]

@Michaelwiseguy Nafta was a republican bill... from the house... Don't blame clinton for appeasing public and republican popular vote... Its the same thing with Obama and the "tax cuts for the rich" its going to add 1.7 trillion dollars in debt....Where was the tea party on this one and the public is dumb enough to support it.. The public is destroying itself??? Also nafta has nothing to do with this video, but close enough.. Also the US economy will bounce back in 100 years or so.

[imPathogenic]

@Michaelwiseguy Crying about bill clinton, watch what happens when Confucious bear brings up the years 2000 - 2008

[jaa93997]

@Michaelwiseguy you lost me, as NAFTA is not pertinent to China. And the lesser NAFTA member, Mexico, is also being bashed by the China phenomena

[Michaelwiseguy]

What happens when the Chinese housing bubble pops? All economic bubbles pop 100% of the time without fail.

I hear China has enough vacant property to house 2/3 of the US population. 64m vacant units.

[eleganz]

@Michaelwiseguy as of now, the Chinese residential/commercial real estate bubble is self sustaining, and won't pop for a while. I figure they are using this time to figure out ways to either keep this bubble from getting bigger or increase growth fast enough to catch up. I hope it doesn't pop though.

[no2foreclosures]

This is only half of the fucked-up trade equation between China and U.S., the other half is the U.S. pissing on its currency by printing zillions of dollars out of thin air:

rense.com/Currency%20Wars%20Fo­r%20Dummies.pdf

[qianlong1796]

"Did so." "Did not." "Did so." Hilarious.

Could the US really turn the tables by doing this?