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Who needs facts!
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Trump tweet:

"Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!"

Err, hate to break it to you Donnie, but China's currency is close to 3 year highs against the USD.
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Re: Who needs facts! [Kay Serrar] [ In reply to ]
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Trump is the strangest president I can ever recall. He says so many things that are just void of any connection to reality.
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Re: Who needs facts! [Kay Serrar] [ In reply to ]
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"Facts are for the weak." - Albert Einstein.

How does Danny Hart sit down with balls that big?
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Re: Who needs facts! [BLeP] [ In reply to ]
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BLeP wrote:
"Facts are for the weak." - Albert Einstein.

Along with "A foolish consistency if the hobgoblin of little minds" R.W. Emerson, you have the only two quotes you need to justify Trump not being the complete fuckwit he appears to be.

Not that is supporters are apt to break out quotations.
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Re: Who needs facts! [ThisIsIt] [ In reply to ]
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ThisIsIt wrote:
BLeP wrote:
"Facts are for the weak." - Albert Einstein.


Along with "A foolish consistency if the hobgoblin of little minds" R.W. Emerson, you have the only two quotes you need to justify Trump not being the complete fuckwit he appears to be.

Not that is supporters are apt to break out quotations.

Ok... but one of those two quotes is completely made up.

How does Danny Hart sit down with balls that big?
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Re: Who needs facts! [BLeP] [ In reply to ]
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Re: Who needs facts! [WelshinPhilly] [ In reply to ]
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How does Danny Hart sit down with balls that big?
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Re: Who needs facts! [BLeP] [ In reply to ]
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Re: Who needs facts! [Harbinger] [ In reply to ]
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Harbinger wrote:
Trump is the strangest president I can ever recall. He says so many things that are just void of any connection to reality.

He is merely revealing he is the liberal I have been claiming him to be since the primaries.

“It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.”
― Ronald Reagan

If there are no dogs in Heaven, then when I die I want to go where they went. - Will Rogers

Emery's Third Coast Triathlon | Tri Wisconsin Triathlon Team | Push Endurance | GLWR
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Re: Who needs facts! [Kay Serrar] [ In reply to ]
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He heard something on Fox or Alex Jones or Breitbart or some other fringe source, possibly garbled it even further and then decided to share his poorly informed, analyzed thoughts because his ego makes him think that everything he tweets is gold.

The man has access to the biggest, most powerful system of intelligence gathering & analysis (in the form of the NSA, CIA, FBI, State Department), to the best and brightest economic minds in the world (Treasury, Nobel Prize winning economic consultants & advisers) but he chooses to base his 'policy', 'strategy' and pontifications on the the internet or cable TV 'news' outlets and their in-depth analisis. SAD!



Kay Serrar wrote:
Trump tweet:
"Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!"
Err, hate to break it to you Donnie, but China's currency is close to 3 year highs against the USD.

Remember - It's important to be comfortable in your own skin... because it turns out society frowns on wearing other people's
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Re: Who needs facts! [Kay Serrar] [ In reply to ]
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Kay Serrar wrote:
Trump tweet:

"Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!"

Err, hate to break it to you Donnie, but China's currency is close to 3 year highs against the USD.

The problem is he seems to believe the things that he tweets. Then sets policy based on them. He doesn't like being briefed and just makes up the world as he goes along.

I'm beginning to think that we are much more fucked than I thought.
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Re: Who needs facts! [Kay Serrar] [ In reply to ]
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Kay Serrar wrote:
Trump tweet:

"Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!"

Err, hate to break it to you Donnie, but China's currency is close to 3 year highs against the USD.

Not defending Trump, but your statement doesn't "prima facie" prove Trump is wrong. It's possible for the yen to be at a 3 year high and still be devalued.
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Re: Who needs facts! [SH] [ In reply to ]
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SH wrote:
Kay Serrar wrote:
Trump tweet:

"Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!"

Err, hate to break it to you Donnie, but China's currency is close to 3 year highs against the USD.


Not defending Trump, but your statement doesn't "prima facie" prove Trump is wrong. It's possible for the yen to be at a 3 year high and still be devalued.

Now Japan is in cahoots with them too??
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Re: Who needs facts! [WelshinPhilly] [ In reply to ]
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WelshinPhilly wrote:
SH wrote:
Kay Serrar wrote:
Trump tweet:

"Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!"

Err, hate to break it to you Donnie, but China's currency is close to 3 year highs against the USD.


Not defending Trump, but your statement doesn't "prima facie" prove Trump is wrong. It's possible for the yen to be at a 3 year high and still be devalued.


Now Japan is in cahoots with them too??


All those currencies look the same to me. =)
Last edited by: SH: Apr 16, 18 10:03
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Re: Who needs facts! [SH] [ In reply to ]
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SH wrote:
Kay Serrar wrote:
Trump tweet:

"Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!"

Err, hate to break it to you Donnie, but China's currency is close to 3 year highs against the USD.

Not defending Trump, but your statement doesn't "prima facie" prove Trump is wrong. It's possible for the yen to be at a 3 year high and still be devalued.

Well first I'll assume you meant the yuan, or renminbi, and not the yen, but what measure would you like to use?

"devaluation" normally refers to a rapid decline in a currency's value, as opposed to a "depreciation" which would refer to a more gradual decline, driven by market forces.

Trump is implying that Russia and China are actively devaluing their currencies. Neither is true. Russia's currency has indeed fallen rapidly since the latest round of sanctions, but this has been market driven.

China's currency is 3% stronger vs the USD year to date, up 8% in the past year, and also up 8% in the last 10 years.

So how would you argue China's currency is devalued? You could maybe use a measure of its real (inflation-adjusted) exchange rate now compared to its 10-year real exchange rate average, but that wouldn't support it being undervalued either: it's about 10% stronger than that average.
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Re: Who needs facts! [Kay Serrar] [ In reply to ]
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It won't be long now, our national nightmare is going to be over soon. Of course we then have to survive the hangover part of this grand experiment, but I believe most of those folks that will defend him while he is getting in the paddy wagon, will eventually go back to their quiet rumblings and let the next phase of politics take control..
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Re: Who needs facts! [SH] [ In reply to ]
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SH wrote:
WelshinPhilly wrote:

Now Japan is in cahoots with them too??


All those currencies look the same to me. =)

I think you meant to say "They all rook arike."
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Re: Who needs facts! [monty] [ In reply to ]
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Keep dreaming. Trump ain't going anywhere

How does Danny Hart sit down with balls that big?
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Re: Who needs facts! [Kay Serrar] [ In reply to ]
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So how would you argue China's currency is devalued?
The argument is that the currency is manipulated by the Chinese gov't, and that the manipulation tends to keep the currency undervalued -- sometimes more sometimes less. Over the last couple of years the Chinese gov't has introduced policies to bring "more market forces" into the way the currency is valued, but, in the end, currency trades stay within a price window set by the gov't.

If the question is "how did Chinese companies get to their current economic position?" then the answer most definitely includes currency manipulation to keep the renminbi devalued over these last decades. A "what the hell could you ever be talking about?" response to American workers' concerns about the fairness of this policy and its ramifications in the US is unfortunate.

I know your post was just about sticking it to Trump in what ever narrow way you could, and not necessarily trying to diminish the importance and disparate impact of the historical currency manipulation he was referring to.
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Re: Who needs facts! [BLeP] [ In reply to ]
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Keep dreaming. Trump ain't going anywhere //

Wanna bet?? I got a C note that says he does not finish his term, and you can back out dying of that equation(or assassinated)..
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Re: Who needs facts! [SH] [ In reply to ]
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SH wrote:
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So how would you argue China's currency is devalued?

The argument is that the currency is manipulated by the Chinese gov't, and that the manipulation tends to keep the currency undervalued -- sometimes more sometimes less. Over the last couple of years the Chinese gov't has introduced policies to bring "more market forces" into the way the currency is valued, but, in the end, currency trades stay within a price window set by the gov't.

If the question is "how did Chinese companies get to their current economic position?" then the answer most definitely includes currency manipulation to keep the renminbi devalued over these last decades. A "what the hell could you ever be talking about?" response to American workers' concerns about the fairness of this policy and its ramifications in the US is unfortunate.

I know your post was just about sticking it to Trump in what ever narrow way you could, and not necessarily trying to diminish the importance and disparate impact of the historical currency manipulation he was referring to.

My post was about a desire for our president to rely on facts, not fiction, when making declarations (and potentially policy).

One cannot deny that China uses some intervention on occasion to influence its currency. However, it is not always selling its currency to make it cheaper. For example, from mid-2014 until the end of 2016, for 2.5 years China was a net seller of USDs (buyer of the yuan), and in doing so reduced its FX reserves from USD4.0tn to USD3.0tn. Why was China buying its own currency? Because its economy was doing less well, the USD was strengthening globally, and there were increasing outflow pressures from domestic investors in China who were starting to think owning their own currency was not such a good idea. During those 2.5 years, the yuan fell by 12% vs the USD. If China had not bought USD1.0tn worth of its own currency during that time, the yuan would have fallen significantly further during that time. But China prevented it from doing so.

In other words, from 2014-2016 China prevented its currency from weakening more than market forces would have done, by buying its currency. From 2017-today, the yuan has appreciated almost 10%, during which time China's FX reserves have barely moved. That means China has not been doing much to stop the yuan from appreciating over the last 15 months.

So again, when Trump implies that China is manipulating its currency to be undervalued, the evidence simply doesn't support that statement.
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Re: Who needs facts! [monty] [ In reply to ]
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monty wrote:
Keep dreaming. Trump ain't going anywhere //

Wanna bet?? I got a C note that says he does not finish his term, and you can back out dying of that equation(or assassinated)..

Must... resist... Monty's... attempt... to... win... back... C note...
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Re: Who needs facts! [monty] [ In reply to ]
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monty wrote:
Keep dreaming. Trump ain't going anywhere //

Wanna bet?? I got a C note that says he does not finish his term, and you can back out dying of that equation(or assassinated)..

I don't bet, but I will gladly dig this thread up again when he is re-elected.

Long Chile was a silly place.
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Re: Who needs facts! [BCtriguy1] [ In reply to ]
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BCtriguy1 wrote:
monty wrote:
Keep dreaming. Trump ain't going anywhere //

Wanna bet?? I got a C note that says he does not finish his term, and you can back out dying of that equation(or assassinated)..


I don't bet, but I will gladly dig this thread up again when he is re-elected.

I don't necessarily think he'll be re-elected, but I really don't see the GOP taking him down before his term is up. I can see them working hard to make sure someone else is running for President in 2020 though.

How does Danny Hart sit down with balls that big?
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