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8/12/2019 One Idea How to Generate 5
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2/27/2014 One Idea How To Generate 5.8 Million Jobs | Zero Hedge
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UK and US Collected Millions of WebcamImag es (Many Nude) ... To Smear or
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One Idea How To Generate 5.8 Mill ion Jobs
Submitted by Tyler Durden on 02/27/2014 17:46 -0500
Bank of England Bank of J apan Central Banks E-Tra de European
Ce ntral B ank Gross Domestic Product International Monetary Fund
Japan None Obama Adm inistration recovery Tax Revenue World
Trade Yen Yuan
0
According to the Economic Policy Institute, a Washington thinktank supported by organized labor, the answer to generating upto 6 milli on more jobs is as si mple as ending global currencymanipulation . But not in the sense of ramping USDJPY orAUDUS D at k e y ma rket in flect ion poi n ts w hich mo s tly benefitssuch FX-rigging chatrooms as "t he Cartel", no: they are thinkingmore big picture, in t he "cent ral bank manipulation sens e."
The report says that "several for eign countries devalue theircurrencies to make their products cheaper, making it difficult forU.S. manufacturers to compete, the report said." In essencewhat the group suggests is that the US currency is overvaluedrelative to the rest of the world, and that by "realigning exchangerates, U.S. trade deficits would be reduced by up to $500 billionper year by 2015. Such a move would increase U.S. grossdomestic product by up to $720 billion per year and create up to5.8 million jobs, the report said." Said otherwise: stop foreigncurrency manipulation, but allow and encourage the US tokeep pushing its own currency even lower.
This is all wonderful, however it appears the unions or theirmouthpiece thinktank have never heard of the Fed, whose jobover the past 5 years has been, among other things, to keep thedollar weaker than it would normally be. If anything, the rest of the world is merely mimicking the policies of the Fed, which havebeen adopted first by the Bank of England, next the Bank of Japan, and soon, maybe, the European Central Bank. We can'twait t o see how much screaming and yelling will ensue if andwhen Mario Draghi does indeed engage in unsterilized QE, andsends the Euro plunging (now that there is supposedly no fear of redenomination) and by implication, the USD soaring makingexports of US goods and services to Europe even moreprohibitive. And don't tell labor unions about the recent collapsein the Chinese Yuan: that would really put their noses out of
joint.
Because while superficially they are absolutely correct, a weakerdollar would on paper boost US exports and potentially generate afew million extra jobs (assuming there are no robots who can fillthose positions at a fract ion of the cost and none of t he wages),the flip side is that it would crush all export-reliant emergingeconomies, resulting in many more millions of job losses incountries that unlike t he US, have no welfare-state safety nets,and thus send the risk of global revolutions through the roof,which in turn would jeopardize the most precious thing of all: theglobal stock markets, currently at all time highs, courtesy of
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precisely the kind of currency manipulation that all the centralbanks - not just the Fed - are engaging in.
The story, as reported by the LA Times , continues as expected:
What was unsaid is that it was currency manipulation by othersthat is what is at stake here. As for the Fed: why, give us more.But just pray that the pent up inflation doesn't finally crack theFed's dam door, and floor all these workers who are demandingmore of the same, because then they will really see what the sideeffec ts of manipulated, artific ial global markets t ruly is.
And finally, who cares about trade anyway? Recall what thelatest IMF "forecast " (and its previous iterations) have to sayabout world trade (hint - not much):
A far bet ter opt ion for all the disgruntled workers engaging insuch an old normal concept as actually creating exportablegoods, is to get an E-trade account, request a few grand fromObama (call it populist bailout venture capital), and bet it all onTesla. After all, there is just one "trickling down" wealth effectleft in the room.
Average:
Realigning exchange rates could also prompt increased tax revenue and reduce federal budget deficits by up to $266 billion in 2015, the EPI said. "Congress and the administration have a new focuson manufacturing because they understand its valueto the American economy," said Scott Paul, president of the Alliance for American Manufacturing. "But they
are ignoring the most important job-creatingopportunity for manufacturing: stopping currency manipulation. The key t o an ec onomic recovery,especially in California, is restoring manufacturing jobgrowth. To shore up those jobs, Washington should launch a national manufacturing strategy that startswith passing bipartisan legislation to end currency manipulation."
A bipartisan majority in the Senate and the Househas signed letters urging the Obama administrationto address "foreign currency manipulation" in thetalks with Japan and the other nations.
And there has been an outc ry in congressional and business circles, particularly the auto industry, over
Japan's weakened currency . The yen has f allen about
25% against the dollar in the last year, helping boost that country's exports and profits by making itsgoods cheaper in foreign markets. " Currency manipulation can negate or greatly reduce the benefits of a free-trade agreement and may have a devastating impact on Americancompanies and workers ," said the Senate lett er,signed by 60 members and led by Lindsey Graham(R-S.C.) and Debbie Stabenow (D-Mich.).
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Cognitive Dissonance
The ends alwaysseems to justify the means when you're the big man oncampus. When you're at the top of the financial food
chain there is only one direction left to go.
DavrosoftheDaleks
Go Long GOLDand Silver iswhat they are
saying.
smlbizman
they willcreate 5.8mil
jobs...they'll needthem to feed the 40mil newly created homeless at thesoup kitchens
Flakmeister
You dounderstandthe
differencebetween nominal and real gains, don't you?
Berspankme
Shhhh!Geniuses atwork
AnusocracyWe live in anend stagegovernment
created governmentrun economy. Job c reation is overwhelmed by jobdestruction.
Take away the reserve currency status and it will create jobs as prolifically as t he Soviet Union did.
maskone909
end corporateoffshore tax evasion.
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end outsourcing of labor
boost manufacturing
this will bring us back to a 50's style boom economy
edit
forgot to reinstate glass steagal
Flakmeister
I only wish it
was sosimple...
But one things that could work is to impose a carbonbased tax on imports as it takes advantage of lowercarbon domestic NG supplies...
Coupled with the implementation of a revenue neutralcarbon t ax phased in while phasing out F ICA and payrolltaxes...
The import t ax kicks high carbon chinese imports in thenut sack...
Now junk away you troglodytes....
css1971Don't worry,Everyone can export their way out of debt!
Solon the Destroyer
And the costof importsand imported
inputs won't changeone bit!
Who the fuck teaches math to Washington Fink Tanks?Krugman? Union leaders? The former mayor of Det roit?
TheAnswerIs42
And the US TBillrate will go where??
maskone909
exactly!what happensto incurred
debts? they will have
to "re-allign" currencies a magnitude of times less valuethan they currently stand. in anycase, this will pushyields up dramatically to compensate for the lose in valueof t-bills/bonds. bunch of fuckin clowns
edit
lets say i have 100 dollars of debt and there is 1000dollars in existance with a exchange rate of 1usd to 10yen,
now we make the peg rate the same 1:1 usd/yen
either the yen gains a shitload of value and americansoverign debt bec omes amazingly cheaper, or theopposite. i really dont see the system being able to adjustto such a drastic change without massive debt write offs
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8/12/2019 One Idea How to Generate 5
5/6
2/27/2014 One Idea How To Generate 5.8 Million Jobs | Zero Hedge
http://www.zerohedge.com/news/2014-02-27/one-idea-how-generate-58-million-jobs 5/6
Thu,
02/27/2014 -
18:05 |
4486735
Thu, 02/27/2014 -
17:55 | 4486703
Thu,
02/27/2014 -
18:03 |
4486738
Thu, 02/27/2014 -
17:58 | 4486719
Thu, 02/27/2014 -
17:58 | 4486723
Thu, 02/27/2014 -
18:09 | 4486757
Thu, 02/27/2014 -
18:11 | 4486766
and some really hurt feelings.
ZerOhead
42%?
(After theyfinish buying everyscrap of T-paper all the way down to municipal bonds onthe market...)
Timmay
How about weraise rates and then limit banks to just offering savingsaccounts and lending? Oh, and restore free markets so
that the best products and ideas rise to the top (with badbets/ideas collapsing and falling) with said lending from banks?Simple.
analyzer_66
Great ideabut the bankshave already
lobbies themselvesinto financial control of gubbmint with the fed as co-conspirator of keeping cheap money flowing downstream.Why would they ever want to change this unless thepetrodollar is c ompletely dest royed?
joego1
They forgot toadd the brains when they started up their think tank.
buzzsaw99
globalist traitorshave ruined this country. there's no going back now.
Spungo
The dollar needsto be weaker? No problem. End the pet rodollar andwatch the value crash.
kito
sadly, and i
shudder to think, but nothing short of a decline inpopulation in the u.s. is going to bring about a changefor the country. the u.s. population has grown too large andtoo fat and happy based on 40 years of credit and debt drivengrowth coupled with a generous welfare state. no "miracle" of balancing the budget or ending currency manipulation is goingto fix serious structural problems for this country. there wouldhave to be a major reset and major fallout before any new,real, organic growth can begin. and it will happen, and there isno fix, despite every pundit postulating. it may be quick, or itmay be a long slow decline, but its inevitable.......
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8/12/2019 One Idea How to Generate 5
6/6
2/27/2014 One Idea How To Generate 5.8 Million Jobs | Zero Hedge
http://www.zerohedge.com/news/2014-02-27/one-idea-how-generate-58-million-jobs 6/6
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