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nissan patrol GQ
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Thats interesting, because i thought they would still treat the patient without insurance.

Then just send you the giant medical bill afterwards that will bankrupt you.
Not the case when I worked in the US.
The reception wanted to see my insurance papers before I was worked on.

Insurance from Australia was faxed over to get them to start

At that point treatment was superb.

Have to say that when I was in Cali I'd never come across a hospital reception area where armed guards were present and extremely visible -as opposed to Richmond, Virginia where it was like home....
 

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nissan patrol
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You are very naive if you think a dominant China will trade fairly with countries like Australia. Fairness is not part of China's culture. Respect for a countries sovereignty is not part of China's culture. China has made a lot of loans to Africian nations ( like the West did and never got repaid) watch what happens when the Africian countries default.

I lived in Asia for 20 years, set up a business in China, negotiated the acquisition of two companies in China and have extensive experience with this culture.

The Libs are right to be good friends with the US and open for business with China. They are also right in more stringent control over the Chinese to purchase Australian land.

Don't let your politics get in the way of common sense.


I think you're right with China; lucky Gough started establishing that relationship 40 years ago against the advice of the know-all's then! So that should stand us in good stead. Maybe - hopefully!! ".
 

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nissan patrol
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Well they did rescue Europe from itself twice and Asia Pacific once which included our then prime minister begging them for help.

They also temporally governed and built Japan and West Germany into strong capitalist economies to stop them falling to communism. They led wars in Vietman and Korea that our Governent fully supported to stop the spread of communism.

Sure they have made a few mistakes but I would rather put up with McDonalds than be working in a slave camp and speaking Japanese.

They feel the need to spend on defence because they have stuck their nose into everybody's business and have pissed too many nations off. They are paying for it to make themselves feel safe.
 

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You are very naive if you think a dominant China will trade fairly with countries like Australia. Fairness is not part of China's culture. Respect for a countries sovereignty is not part of China's culture. China has made a lot of loans to Africian nations ( like the West did and never got repaid) watch what happens when the Africian countries default.

I lived in Asia for 20 years, set up a business in China, negotiated the acquisition of two companies in China and have extensive experience with this culture.

The Libs are right to be good friends with the US and open for business with China. They are also right in more stringent control over the Chinese to purchase Australian land.

Don't let your politics get in the way of common sense.
I agree with what you're saying and acknowledge your experience. I agree with the Chinese entry into Africa and it hasn't been done for nought. They also supplied arms and trained all manner of rebels in Africa through the 70's and 80's so they do have a 'mixed' history there.

I don't think we'll get top billing, but in diplomatic circles, my understanding is that Australia's reaching out to China when no one else was in the late 60's and early 70's may account for something. I'm not sure if any friendship with the USA will help anything once they crumble.
 

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Well they did rescue Europe from itself twice and Asia Pacific once which included our then prime minister begging them for help.

They also temporally governed and built Japan and West Germany into strong capitalist economies to stop them falling to communism. They led wars in Vietman and Korea that our Governent fully supported to stop the spread of communism.

Sure they have made a few mistakes but I would rather put up with McDonalds than be working in a slave camp and speaking Japanese.
And the Roman Empire brought civilisation to the pagan masses; but these advances, laudible as they may be did not stop the disintegration of the empire when its time came. The USA took over from the Brits during WW2 and became the dominant superpower BUT time rolls on. And for the USA, it will very soon. Even during the lifetimes of some of the older fa'rts here I reckon!!
 

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nissan patrol
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The USA is not an empire so comparing it to the Roman or British Empires is not valid. You actually might see a reverse empire sort of scenario rather than the US holding countries with military force, countries " contributing" to US military expenditure to be protected by the US. I have it on good authority the Kuwait currently does this. Japan and Korea maybe future customers. Maybe Australia one day.

The US unlike China can support it's own food and now fuel needs. Don't under estimate the US they are strong people and whilst democracy maybe failing them right now a good shake-up, maybe this one, can help to improve things. China is also dependent on the US for trade / economic growth at this stage.

As an aside for those who think China funded Australia's (last Lab vs ongoing Lib) mining boom that's not correct. Chevron and US investment funds contributed the lions share.

Btw the Romans were pagans as well.


And the Roman Empire brought civilisation to the pagan masses; but these advances, laudible as they may be did not stop the disintegration of the empire when its time came. The USA took over from the Brits during WW2 and became the dominant superpower BUT time rolls on. And for the USA, it will very soon. Even during the lifetimes of some of the older fa'rts here I reckon!!
 

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The US unlike China can support it's own food and now fuel needs. Don't under estimate the US they are strong people and whilst democracy maybe failing them right now a good shake-up, maybe this one, can help to improve things. China is also dependent on the US for trade / economic growth at this stage.
Some valid points but i still believe the USA is a super power / empire, call it what you will.

China may be dependent on the US for economic growth, but the US is dependent on China to finance their constant deficits. China is the largest foreign owner of US treasuries.

So basically in a nutshell, the USA owes the world (including China) trillions of dollars. China owes the USA nothing.

At the end of the day once the USA looses its reserve currency status (and it will, just look at their monetary policy) it is all over for them. The ONLY reason they have got away with financing all these wars is because they are the worlds reserve currency.
 

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nissan patrol
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Interesting, how does being the worlds reserve currency benefit the US and what would happen if the USD was not the worlds reserve currency?

Which currency would take the USDs place EUR (currently 20% of the worlds reserve currency), CNY (which is not freely traded), NZD?


Some valid points but i still believe the USA is a super power / empire, call it what you will.

China may be dependent on the US for economic growth, but the US is dependent on China to finance their constant deficits. China is the largest foreign owner of US treasuries.

So basically in a nutshell, the USA owes the world (including China) trillions of dollars. China owes the USA nothing.

At the end of the day once the USA looses its reserve currency status (and it will, just look at their monetary policy) it is all over for them. The ONLY reason they have got away with financing all these wars is because they are the worlds reserve currency.
 

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nissan
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The US debt is denominated in US$. That means they can print more if they want to.
But the real solution for them is to default. It's been done before, many times. Brazil was a good example. Nobody likes it but they can't do anything about it. If I had any US bonds I'd sell them now. It's exactly like going bankrupt and not paying off your credit card ... irritating, but nobody dies.
 

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Discussion Starter #30
The US won't default, as there is still tax money coming in hand over fist, it's just that the government is not spending all of it at the moment on government paid jobs. The situation in the US is no where near as bad as it is made out, as a lot of this is pure politicking to see who folds first. But it's not a good look, however you dress it.
 

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I agree that it's not as bad (yet) as it looks. But, there's 'fire in the hole' and the only way out of the hole is to default. It's not a matter of 'if' but 'when.' That's what I'd do. What other option is there? Borrow and hope maybe? The Demoncraps would be happy with that.
 

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Trade protection, reduced military operations (like pulling out of the middle east), getting US car manufacturers profitable again and paying taxes (done), reduced govt spending (current bun fight), reduced foreign aid (ask Tony for tips), shifting production from China to Vietnam, Africa and India (work in progress to keep costs low and reduce China's GDP growth), keep USD low (done), keep inventing stuff and profiting from patents (vast majority of patents registered worldwide are by US companies) and wait out circa seven year cycle from this GFC.


What other option is there? Borrow and hope .
 

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Discussion Starter #34
I testified yesterday to the Joint Economic Committee on “The Economic Costs of Debt-Ceiling Brinkmanship” and I explained (reiterating points I made back in 2011) that there is zero chance of default.

Why? Because, as I outline beginning about the 3:10 mark of the video, annual interest payments are about $230 billion and annual tax collections are approaching $3 trillion.
Testifying to the Joint Economic Committee about “Debt Limit Brinksmanship” | International Liberty
 

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I can't agree that reducing things like govt spending is peanuts. Further this debt doesn't have to be extinguished in a day, if it could be reduced by half in the next twenty years that would be a solid performance acceptable to the word financial markets. That would mean a reduction of debt equal to 2.5% pa and reduced government spending etc would certainly play a large part.

China Has performed well fnancially (but at the cost of the enviroment, social values, etc) in the last 20 years of their 5000 year history so I can't see them as proven performers. Yes they have cheap labour to flog but anyone can make money doing that, the trick is sustaining a developed economy. As newly developed economies like Japan have found put a few glory years does guarantee long term success.

Good advice John, but peanuts in the scheme of things.

Why do you think China had this to say? They know how many beans make five.
China lectures US on 'responsibility' over debt default - Telegraph
 

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nissan 09 gu patrol
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Thats interesting, because i thought they would still treat the patient without insurance.

Then just send you the giant medical bill afterwards that will bankrupt you.
X2

A common tactic is to put a false name with no address on the paperwork.
 

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Trade protection, reduced military operations (like pulling out of the middle east), getting US car manufacturers profitable again and paying taxes (done), reduced govt spending (current bun fight), reduced foreign aid (ask Tony for tips), shifting production from China to Vietnam, Africa and India (work in progress to keep costs low and reduce China's GDP growth), keep USD low (done), keep inventing stuff and profiting from patents (vast majority of patents registered worldwide are by US companies) and wait out circa seven year cycle from this GFC.
Any ONE of those proposals would start a bigger bunfight than the current one!!

Sent from my GT-N7000 using Tapatalk 2
 

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nissan patrol GQ
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I can't agree that reducing things like govt spending is peanuts. Further this debt doesn't have to be extinguished in a day, if it could be reduced by half in the next twenty years that would be a solid performance acceptable to the word financial markets. That would mean a reduction of debt equal to 2.5% pa and reduced government spending etc would certainly play a large part.

China Has performed well fnancially (but at the cost of the enviroment, social values, etc) in the last 20 years of their 5000 year history so I can't see them as proven performers. Yes they have cheap labour to flog but anyone can make money doing that, the trick is sustaining a developed economy. As newly developed economies like Japan have found put a few glory years does guarantee long term success.

they have a social nightmare emerging at the moment.

1) not enough women to meet male demands for marriage
2) 25m additional unemployed enter the job market every year - if they're from the north, north west or south west then they are usually unskilled and have buckleys chance of getting work in the major cities
3) no social support system, and due to impact of one child family, the traditional means of the children supporting the parents is no longer happening
4) too many students graduating in professions that can't be met within china
5) a trend where local single women prefer gwailos (whites) over local males
6) they have their own housing bubble simmering

china is a cluster waiting to happen - and if they can't control the societal imbalances, they will implode.
 
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