by HARM follow (0)
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Brand Says:
June 3rd, 2007 at 9:48 pm
"Oh, and how can they remain pegged, and still have such superheated economic growth relative to the rest of the world. Is it internally driven or what? "
It is externally driven by our Walmart model of using the currency difference as a way of getting cheap labor in relation to our currency value. They peg it because on the flip side of what you said earlier, lower currency value makes your goods more desireable for export because they are so cheap for someone to import.
Now, the free market is a very powerful force. As their workers who turn consumers gain more wealth and power, in theory they then want products of their own. So, do they buy from themselves or do they buy from us. We do have some things uniquely American, such as arts and entertainment, great tourism places to visit, and of course raw materials. China pays $200 a ton for cardboard and paper. It is only worth $50 a ton here.
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*(Update - 06/12/2007): On June 6th, Snowflake brought the blog back (surprise, surprise!), with a vague and unspecified claim of having been "forced" to bring it back. A couple of days later Casey explained it was due to him violating his (very real and legal) contracts with his publisher and/or advertisers by shutting the site down. And just recently he has apparently fled the country to mooch off some fans in Australia. Oops, sorry, he's not "mooching", he's trying to "focus on getting the foreclosure book done and get a lot of other stuff done in a distraction-free environment" --all at OTHER PEOPLE'S EXPENSE and without his wife's approval, of course. I guess I'm one of those "Idiot Haterz" that keep misrepresentin' the facts about the Murseman.
As of this morning, IamFacingForeclosure.com has ceased operation*.
Galina finally had enough? The Feds or local D.A. (finally) caught up to him? Another cheap publicity stunt to attract a few more clicks (kind of like the local furniture store that's perpetually 'going out of business')? Who knows, but for now it seems to be 'lights out' for Mr. Manbag.
So now that everyone's favorite media whore and Flipper Nation poster boy has gone and pulled the plug, who will fill his shoes and sit proudly astride the blue ball of passive debt accumulation? Who will compete for the attention of Exurbannation readers? Some possible contenders:
1. SDCIA Jeff

2. Cindy Schwanke ("cupcake lady")

3. The Woodhulls

4. Dead FL homeless "flipper"

Discuss, enjoy...
HARM
#housing