Posted on 11/10/2011 10:42:01 PM PST by Lazlo in PA
Recently, the news media has been overloaded with stories about “income inequality,“ ”corporate greed,“ and the ongoing struggle between the ”99%“ and the ”1%.”
Granted, these are probably issues that should be addressed, but one feels compelled to say that there is no need to riot over these things especially when one compares the situation in the U.S. to other countries.
China is a good example. Some of the issues facing the workers in the communist country make the complaints of the average OWS protester pale in comparison.
For instance, Since 2003, house prices in China have tripled.
Not bad enough?
Well, consider some of these facts (via Business Insider):
(Excerpt) Read more at theblaze.com ...
China is the biggest bubble the world has ever sen. Yes, it will collapse, and the results will not be pretty. We think of them as having this strong central government, but in reality, the central government is weak compared to the strong regional governments. When they collapse, they will fly apart like a motor that has blown a rotor.
Looks to me like the EUrtopian dreams are crashing into reality all over the world.
Thanks for this article. When you combine it with the Euro meltdown article from the Express-well, it’s not a pretty picture out there for the state capital crowd. Hopefully, we can leave that crowd in 2013.
In particular, with 56 distinct minorities who yearn for their freedom from the Chinese Confederacy, it will go boom in a way heard round the world.
In reality, once they achieve their independence, China will be a 300 million strong ethnicity with their own peculiar dysfunctions.
Those multi billion dollar ghost towns, where little to no one currently lives, will become salvage yards.
This article at the link is so bad. We are supposed to say to ourselves as we read it, Bankers in the U.S. are OK because they are not as bad as the Chinese government and Chinese corruption.
The truth is, if the bankers had done in China what they did in the U.S., they would all be in jail or worse.
You’re looking at the wrong group of criminals. Do you think the banking crisis would have occurred if federal govt interference/regulation had not forced them into those positions?
Remember our elite progressive politicians and friends not to long ago praising the Chinese system and wishing we counld become more like them, namely Dunn.
gunsequalfreedom wrote: “The truth is, if the bankers had done in China what they did in the U.S., they would all be in jail or worse.”
..... Consider this a bit of tongue in cheek only - not looking to start an argument by any means. If the bankers were to do in China what they have gotten away with in the USA, I think that -just like here- nothing would happen to them. These sorts of gigantic organized financial manipulations and lootings cannot occur without the active connivance and cooperation of government.
The only case in which I can imagine the bankers taking a hit is if public outrage reaches such a point that the politicians feel obliged to sacrifice them in order to preserve their own positions.
Misleading as the graph shows that HK prices have tripled. They're still high in China taken as a whole, but that's distorting the picture.
If the Chinese economy can keep chugging along with an expansion rate of 8% the Chinese leadership just might be able to pull it off.
The truth is, if the bankers had done in China what they did in the U.S., they would all be in jail or worse.
They would all be in jail or better.
Sin devours itself eventually. We’re watching it happen here, in the Euro, and not long next, China. It’s a hard thing, corrections.
China is not a bubble, because we don’t do squat to stop outsourcing.
We don’t to anything to balance trade.
We don’t stop the wholesale loss of American manufacturing to China.
We don’t stop the massive flow of US treasure to China.
China is not a bubble, because we are giving China, America’s strength.
The only possible way a “bubble” would appear in China, is if Americans would wake the heck up, and stop giving our nation away.
At that point, yes perhaps China would become a bubble.
Right now they’re doing just fine. At our expense.
“The truth is, if the bankers had done in China what they did in the U.S., they would all be in jail or worse.”
Outstanding point. Our bankers are in NO POSITION to lecture the Chinese or anyone on money management. It was so obvious that I even shorted a bunch of financials and made some nice money on the ride down...and got a nice car out of it.
Yes, the government pressed the banks...but there is a point where you must PUSH BACK, rather than destroy trillions of dollars of wealth.
US bankers get no sympathy from this FReeper (but they do a get a thank you, LOL).
The bankers in China work for the government.
They do exactly as the government tells them to do.
China averages 100,000 mass protests per year. For some reason, they had 130,000 last year. It is not a quiet place.
What I heard on the radio must have been Beck. I just had a chance to read the artilce and note his figures are about what I heard on the radio. I could not remember them all to point because he was just rapid firing them off on the radio and those figures I gave are estimates of what I thought I was hearing. The article clears that up more. Except those miners.
Frankly, when the Beijing food riots are broadcast live on Fox, I’m gonna laugh my ass off...
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