Posted on 09/29/2011 6:13:17 PM PDT by blam
Who'd have thought that Oblame-a's Screw America Agenda would eventually take a chink out of China's trade armor? It takes a vibrant economy to sell a lot of cheap sunglasses AND expensive Mercedes.
Look, Oblame-a is working overtime to keep the private sector broke and the public parasite sector rolling in clover by sucking all the cash in the world into his Govt. Hoover Vacuum. And, it's working.
It wasn't advertised very well, but the world is now getting the fact that capitalism is losing in the USA as long as this fraud sleeps on a White House pillow. Look for the Union Label on said pillow.
I think we should wait until others have demonstrated that you can 'tax yourself into prosperity' before we go there. China probably thinks so too.
Maybe Pres. Obama will give them a speech and tell them what they should do to fix their debt problem.
lol.
They already had a stimulus program.... they built entire empty cities that nobody can afford to live in.
The empty cities are bizarre.
It seems like something is going on. However, this doesn’t mean, necessarily a crash is imminent. There could be other peaks before the crash, or no crash at all.
Some of us called for this crash quite some time ago.
Not really sure I understand the humor in trying to pretend China’s economy is in some sort of trouble.
China is demolishing America’s economy. Taking our jobs. Taking our factories. Taking our money. Taking our technology.
And all we do is make jokes.
So apparently, the latest economic strategy is to squash China in order to keep her sexy services cheap.
Some of us called for this crash quite some time ago.
One day you will be quite right.
I'm not being critical, but busts are a hard thing to time.
I remember the dotcom bust in 2000. There was an article in Barrons about the amount of cash the high fliers had, the burn rate and the projected time until they all fizzled. Well, that information should bave been enough to scare all prudent investors miles away. The frenzy, however, lasted another two years with huge gains before the ultimate crash.
No matter how bad the Chinese economy gets, even if they collapse, the government will still report some 8% to 10% growth in GNP.
Who is on first? http://www.youtube.com/watch?v=ejweI0EQpX8
Add to this the fact that the Fed has announced, apparently reluctantly, that it has purchased 95% of this debt since June and one is confronted with the uneasy feeling that we are extremely vulnerable if not already in deep trouble.
I stand back and look at the world picture and ask where can all this growth at around 10% be expected to come from in the world's 2nd economy if it's markets, Europe and America, are on the verge of recession? China is primarily an export economy, its domestic economy is inadequate as yet to carry it or provide it with the growth it needs to prevent civil upheaval. China is the 3rd leg of a three-legged stool and the other 2 legs, Europe and America, are already in big trouble.
If we cannot send money to China for flatscreen TVs they cannot send money to us to buy our bonds and notes. The paper chase finally comes to an end.
That is what the price of copper is telling us and that is what the decline in the value of gold is telling us, that the world is heading for deep recession and probably deflation which the governments will try to cure with inflation. Ominously, Goldman Sachs has come out this week and frankly advocated such a course, citing FDR's new deal in support.
I do not see how any of this ends well.
China is not TAKING anything other than what foreign business GIVE it and what foreign governments allow. Point your anger at the Congress for not instituting tarrifs, as they should, because our Congress puts extra costs for environmental issues in the US that China does not require. Make it a level playing field, and China can’t compete (or remove the regulations here and we CAN compete.)
One or the other.
Tariffs - yeah, that’d be the ticket Mr. Smoot, or are you Mr. Hawley?
I have been working in Zhengzhou for over a year. Much - at least - of what they purport about the CBD East District development is BS.
Now on the one hand, it is government policy that decides when there will be an addition like this, and the ZZ Economic and Technological Development Zone, where the people I consult for are HQ’d. (Used to be farmland - now an active, growing manufacturing area.)
As near as I can tell, first “they” build it (govt policy and plan, using private contractors and developers) and then “they” (businesses and people) come.
The CBD is more and more crowded, just in the past year I have been here, as people move up in life, and move into newer and more expensive digs.
Of course, this area is nowhere near like the crowded downtown neighborhoods of ZZ, or any typical China city.
(Interesting item - number of cities officially over 1 million population per most-recent census: US-9 CHINA-171+)
The CBD is COMPLETELY not a “ghost-town” part of ZZ - this is just wrong. It is just less crowded, more like the US, actually.
I do not go to the high-rise area shown so don't know about that, but the area near the CBD “circle” has more and more low-rise CONDOS and apartments (note 70-yr China home-leases instead of ownership, this is weird I admit) by the growing upper and upper middle classes. And people live there. (Note, in the US we no longer “own” any property anymore. Don't pay your property tax and see who REALLY owns it.)
Overall, China is an amazing place! Construction cranes everywhere. New developemtns / buildings spring up like dandelions. They do things here more like we used to do things in the US. The last place I worked in the US (a private spinoff of a division of a US corporation) literally took 3 years to DECIDE to adopt one of the first recommendations I made in one technical area.
Here - sometimes when I have made a presentation and proposal - they are acting on it the next day. The next day.
US - 18 months to acquire and install a certain large test lab apparatus. Here - 5 months.
And, at least in the private sector with the Chinese I work with, from owners thru the salaried engineers, and the (admittedly small number) hourly folks I've worked with - they are in MY EXPERIENCE are a fine bunch of people. Friendly. And with a real sense of humor and enjoyment.
OK. This is just my one slice of life/business/people/culture here, 1 set of experiences. BUT it is 100% a real and absolute reality that -I- have seen.
And I am NOT “just” an American - I'm a Texan. AS far as I'm concerned, that is like American-on-steroids.
Some of their government NOW is totally fouled up and bad.
News flash - they don't have a monopoly on this!
WHAT if we do NOT replace Obama next election? We are heading down the slippery part of the slope, going faster and faster toward the precipice!
The US form of government AS CONSTITUTED AND INTENDED is without a doubt the best concept EVER conceived and enacted, and always will be.
But like the guy BF said, “A Republic, if you can keep it.”
http://www.bartleby.com/73/1593.html
http://thenewamerican.com/usnews/constitution/659-qa-republic-if-you-can-keep-itq
AND SOMETHING ELSE:
SEE http://www.lorencollins.net/tytler.html
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years.
Great nations rise and fall. The people go from bondage to spiritual truth, to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency, from complacency to apathy, from apathy to dependence, from dependence back again to bondage.
SO DON”T THINK I AM NOT PRO AMERICA!
But just damn, the place I grew up in the 50’s and 60’s...
the Eisenhower/Kennedy/Nixon(Ford)/Reagan/(Bushes?) USA,
has been / is being overwhelmed and corrupted by the
Johnson/Carter/Clinton/Obama USA.
I added Kennedy to the first list, because between military service, tax cuts, etc. I think that's more where he belongs.
And I was generally disappointed with the Bush Presidencies. OK they are good guys and did good things, but... So while they clearly do NOT belong in the second list, I am not 100% about them in the first. Thus the parenthesis. Texas notwithstanding.
(Ford was not elected President... so that's why he gets parenthesized.)
As far as the second list is concerned? Read it and weep.
SO - back to China.
I think cooperation between the PEOPLES, recognizing their inherent strengths, abilities and potentials of the two countries, is imperative. Because the people are the nation. We at least knew that once. “We The People...”
But clearly, both governments need to be fixed.
If -this- happens over the next 2 generations / 40-50 years, where China and the US a partners, and “well-governed”, then maybe the world will end up being a good deal and a good place for a LONG time. Like centuries to millenia.
For China, it WILL need at least two generations, with their entrenched system, to change in the right ways. But it could happen.
For the US, we need to make a severe course-correction PDQ. ASAP. Like next November.
This next US Presidential election will be the most consequential in my life.
IMHO
Oh, for sure, but when people are writing it off as a blip on the road, even in the middle of the drop, that to me is the time to step in and say, look, no.
There are good reasons for decreasing Chinese demeand at this point.
This is satire right? Hu fulin?
Those declining spot prices for copper could have a negative effect on the US. We’ll be Darwining far fewer idiot copper thieves.
They’ll want their money they loaned us early.
This is a somewhat popular but utterly preposterous misconception that is promoted by leftists in pursuit of their evil agenda.
The fact of the matter is that a United States Treasury Bond is a contract that specifies a stream of payments that are to be made on a fixed schedule. The holder of the bond has no contractual right to demand that any payments be made on any schedule other than that which was agreed to upon issuance.
I know that.
I was just explaining what the term meant.
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