Comments on: Chinese Fiat Coupons http://dailyreckoning.com/chinese-fiat-coupons/ Covering the economy, global markets and world politics. Sat, 21 Nov 2009 22:19:44 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: JuniorMogamboRanger in Miami http://dailyreckoning.com/chinese-fiat-coupons/#comment-853 JuniorMogamboRanger in Miami Fri, 20 Feb 2009 17:11:08 +0000 http://dailyreckoning.com/?p=11721#comment-853 They keep deserving it, so you keep on heaping abuse. Thanks for all your Mogambo Eruditeness! They keep deserving it, so you keep on heaping abuse.

Thanks for all your Mogambo Eruditeness!

]]> By: Leo http://dailyreckoning.com/chinese-fiat-coupons/#comment-852 Leo Fri, 20 Feb 2009 16:54:25 +0000 http://dailyreckoning.com/?p=11721#comment-852 Mogambo, I wonder how our "food stamps" differ from Chinese "shopping vouchers"? Leo Mogambo, I wonder how our “food stamps” differ from Chinese “shopping vouchers”?
Leo

]]> By: Tom http://dailyreckoning.com/chinese-fiat-coupons/#comment-845 Tom Fri, 20 Feb 2009 15:48:55 +0000 http://dailyreckoning.com/?p=11721#comment-845 Mogambo editorials are definitely my favorite daily readings (and I have to thank you for persuading me to invest most of my savings in gold in 2007), however in this case, as you say, inflation is definitely not the most pressing problem in China, so coupons or whatever can substitute at least partially the reduction in foreign demand for their products is not a so bad idea (I wonder who pays for them in the last instance though). Mogambo editorials are definitely my favorite daily readings (and I have to thank you for persuading me to invest most of my savings in gold in 2007), however in this case, as you say, inflation is definitely not the most pressing problem in China, so coupons or whatever can substitute at least partially the reduction in foreign demand for their products is not a so bad idea (I wonder who pays for them in the last instance though).

]]> By: Werner Wolfer http://dailyreckoning.com/chinese-fiat-coupons/#comment-837 Werner Wolfer Fri, 20 Feb 2009 14:12:43 +0000 http://dailyreckoning.com/?p=11721#comment-837 The Chinese face the opposite problem of the US, they are over-savers. The exercise of vouchers was tested in the great depression in the 30ies in Austria by an economist named Silvio Gesell. It worked on a local level. The idea was to counter hoarding of bank notes and to relaunch consumption. On the vouchers a monthly stamp had to be bought to keep the valid, making the holding of these vouchers an expensive exercise. Weird tomes, weird solutions, The Swissy The Chinese face the opposite problem of the US, they are over-savers. The exercise of vouchers was tested in the great depression in the 30ies in Austria by an economist named Silvio Gesell. It worked on a local level. The idea was to counter hoarding of bank notes and to relaunch consumption. On the vouchers a monthly stamp had to be bought to keep the valid, making the holding of these vouchers an expensive exercise.
Weird tomes, weird solutions,
The Swissy

]]> By: Matt http://dailyreckoning.com/chinese-fiat-coupons/#comment-836 Matt Fri, 20 Feb 2009 13:33:13 +0000 http://dailyreckoning.com/?p=11721#comment-836 Got yer gold yet? Silver? Got yer gold yet? Silver?

]]> By: AMB http://dailyreckoning.com/chinese-fiat-coupons/#comment-817 AMB Fri, 20 Feb 2009 04:00:42 +0000 http://dailyreckoning.com/?p=11721#comment-817 The Chinese government is trying to turn their citizens into Americans! If the government gave the poor saps money, they would retire debt, as Chinese are wont to do, or worse they would save it. But with shopping vouchers, they have no choice but to imitate Americans and SPEND! We Americans don't need vouchers, we spend every dime we get our hands on, even when it's not our money. That's why our economy is circling the bowl (CTB)(That phrase isn't mine, but I love it!) What a world, what a world! Saving is bad to the point of being unpatriotic, but spending other people's money (including other people that haven't even been born yet) is being a good citizen! Not only that, since our persinal credit lines are already maxed out, our government is stepping into the breach to the tune of $---,000,000,000,000.00 (We’re not sure of the number that goes in the blank…..yet, just the number of zeros.) Beam me up Mr. Scott!!!! The Chinese government is trying to turn their citizens into Americans! If the government gave the poor saps money, they would retire debt, as Chinese are wont to do, or worse they would save it. But with shopping vouchers, they have no choice but to imitate Americans and SPEND! We Americans don’t need vouchers, we spend every dime we get our hands on, even when it’s not our money. That’s why our economy is circling the bowl (CTB)(That phrase isn’t mine, but I love it!) What a world, what a world! Saving is bad to the point of being unpatriotic, but spending other people’s money (including other people that haven’t even been born yet) is being a good citizen! Not only that, since our persinal credit lines are already maxed out, our government is stepping into the breach to the tune of $—,000,000,000,000.00 (We’re not sure of the number that goes in the blank…..yet, just the number of zeros.) Beam me up Mr. Scott!!!!

]]> By: Todd’s Life » Blog Archive » Feb 19: Thursday http://dailyreckoning.com/chinese-fiat-coupons/#comment-801 Todd’s Life » Blog Archive » Feb 19: Thursday Fri, 20 Feb 2009 01:16:18 +0000 http://dailyreckoning.com/?p=11721#comment-801 [...] http://www.dailyreckoning.com/chinese-fiat-coupons/ [...] [...] http://www.dailyreckoning.com/chinese-fiat-coupons/ [...]

]]> By: David Durinzi http://dailyreckoning.com/chinese-fiat-coupons/#comment-792 David Durinzi Thu, 19 Feb 2009 22:26:59 +0000 http://dailyreckoning.com/?p=11721#comment-792 I am the guy Madison Avenue had in their sights CONSUMER. I don’t know if the target was on my head, my back or more then likely lower, my wallet. With all this free flying cash around I spent and when more was printed I spent more. I did this for all of the Greenspan years up until Helicopter Ben showed. I now have stuff I’ll never need stored at my mothers (SAMM), I have a boat and a car at a friends place 300 miles away. I have a kingdom of krap (KOK) in my garage and in my basement………LOL. My house had to grow to accommodate my manipulated desires to buy till I’m McMansioned to the max in suburban hell with an oversized SUV. I’ve been reading your stuff for a week along with a few of your cohorts. I see the light, I know the fix and I hear your mantra. As for our Chinese producer, I hope they stick with the consumer goods because this country does not need billions of armed and angry Chinese people with us in their sights. I am the guy Madison Avenue had in their sights CONSUMER. I don’t know if the target was on my head, my back or more then likely lower, my wallet. With all this free flying cash around I spent and when more was printed I spent more. I did this for all of the Greenspan years up until Helicopter Ben showed. I now have stuff I’ll never need stored at my mothers (SAMM), I have a boat and a car at a friends place 300 miles away. I have a kingdom of krap (KOK) in my garage and in my basement………LOL. My house had to grow to accommodate my manipulated desires to buy till I’m McMansioned to the max in suburban hell with an oversized SUV.

I’ve been reading your stuff for a week along with a few of your cohorts. I see the light, I know the fix and I hear your mantra. As for our Chinese producer, I hope they stick with the consumer goods because this country does not need billions of armed and angry Chinese people with us in their sights.

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