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>> QUAKE + NUCLEAR cleanup will cost BILLIONS >>> Japan may DUMP US DOLLAR ASSETS, TREASURIES
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[quote:oldboldpilot:MV8xMzkwMzk2XzIzMjM3NjAxXzNEMkUxNkEw] Whoever said I thought this was fair or right? You seem very eager to pick a fight...I think perhaps you need to find someone feeling more argumentative I said I grew up in a country which is well known for extreme poverty. I watched cousins and friends of my parents slip into near poverty when the Brazilian economy became wretched. You have no idea how much time I have donated to homeless shelters or working for Habitat for Humanity. How much time have you donated? You don't read so well either...perhaps your emotion is blocking what you read Regarding wars, you don't know how much time I have put into fighting not just Iraq, but other wars as well, nor how active I have been politically. You have no idea of the organizations I have donated time and money to in attempts to change things. But I do not have to sit here and justify myself to you, because you don't even know me...just a thread I started because I follow the currency markets closely, a habit I picked up from the south american side of my family. You assume I'm in a comfortable bubble...why? You don't kno my life or what I am going through right now, losses I've endured. Just because I'm' not whining or weeping about them, doesn't mean they aren't there or motivating me to follow these developments closely. Again, you assume this from a stereotype you have deep in your spirit, so deep you just assume it's the truth...these stereotypes are preventing you from seeing clearly. Again, I believe you must be very young. You jump to conclusions way too quickly and make far too many assumptions...you sound like you're screaming at someone you have an image of in your head, that ugly american you've been loathing for years, perhaps....someone you'd like to shake. I am not that person, so I do not wish to fight with you. I would wish that this world became a better place, with more abundance for all of her children, but I'm afraid that we are about to go through some very painful times. How do you have a "reset" of the economy without a crash? That is what is coming, and many more people will be broke, homeless and hungry. [/quote]
Original Message
JAPAN will have to focus on rebuilding...and unprecedented nuclear cleanup costs. There are signs they are already starting to sell US Treasuries to Pay For Quake Damage -
This means a lower USD and much HIGHER US Interest rates ahead. Goodbye to any housing recovery...and hello much higher gas and food prices
[
link to www.examiner.com
]
Japan's Devasting Quake Could Cause Higher U.S. Interest Rates
Should expenses build up and Japan needs to kind of rebuild, they`re going to likely sell, not only sell their current Treasury holdings,
but potentially really prevent them from buying more as they have some spending to do back home.
[
link to www.pbs.org
]
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This comes on top of forecasts that the earthquake in Japan will also cause oil prices to rise. Our fragile economy may not easily handle these dual shocks at this time..:
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Japan earthquake may push oil prices higher
The powerful earthquake and tsunami that slammed northern Japan knocked out car plants and steel mills, stranded thousands in offices and at Disney's resort in Tokyo, and pummeled financial markets in Asia and Europe. But the biggest effect on the world economy may yet come in further roiling oil
[
link to www.latimes.com
]
__________________________________
Petrol set for rise as aftershocks rock markets
Industry experts say that if Japan cannot get its refineries back online quickly, there will be a spike in that country's demand for petrol, diesel and jet fuel. Global suppliers might find it more profitable to increase shipments to Japan instead of selling the fuel elsewhere, resulting in a bidding-up of prices.
The disaster also has added an element of uncertainty for global rice prices. The Japanese region hit by the tsunami is a major production area for rice. The world's rice supply had been forecast to be robust but economists warned that the effect of the tsunami on Japan and other grain-growing areas in the Pacific Rim may temporarily fuel already-rising global food prices.
[
link to www.smh.com.au
]
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