Posted on 07/13/2012 6:25:05 PM PDT by TigerLikesRooster
As China's growth slows, the world worries
By John W. Schoen, Senior Producer
Don't look to China to head off the global economic slowdown.
With the U.S. recovery stalling and much of Europe in recession, China remains the last major region keeping the global economy moving ahead. But there was fresh evidence Friday that the Chinese dragon’s fire is cooling.
China's economic growth fell to a three-year low, the government reported, as the world's second-largest economy grew by 7.6 percent over a year earlier in the three months. That’s the worst showing since the financial panic of 2008 sent the global economy reeling.
Now, as its economy slows, China's leaders are cutting interest rates and boosting spending to maintain growth, which is expected to pick up again later this year. But those measures aren't expected to be as aggressive as the massive pump-priming that followed the financial collapse of 2008 and helped stave off a global downturn.
(Excerpt) Read more at economywatch.msnbc.msn.com ...
P!
World’s largest economy, growing at 7.6%.
Nice job.
Time to change that...
If our country/economy/trade policy were in line with the Constitution and currently implemented the way it should be, we wouldn’t give a damn about the economic events of China, or any other country for that matter because they would have a minimal effect on us. Instead, we are literally on the edge of our seats if China slows down, or if Spain has a shitty Bond Auction!
The propaganda today was “soft landing”, because stocks are the dumping ground for government retirements/pensions.
They are saying that China should burn their money to oblivion in order to prop up their economy, joining Japan and Western world eventually, stuck with huge debt they have no hope of paying off.
China is the world’s second largest economy.
Guess they have to flog the slaves a little harder to bring production up. How else are we going to bring those ipads and car parts to the US on schedule. If you get into bed with the devil, expect to get screwed.
They buy almost nothing from us compared to what we buy from them. Will we really notice?
hey someone told me today that the heathen Chinese are planning to back up the yuan with gold as soon as they get enough.............
Well according to a graph shown earlier today, China is now the top economy.
Perhaps exporter only. But #1.
spot on assessment....
Jeff, I think this is the real future of China—economic stagnation followed by serious internal dissent. I don’t think it will come apart at the seams, but I think it will descend back into second tier status.
In essence, that is what happened to the Soviets. I have always viewed it as one of God’s miracle and tender mercies that there wasn;t a period of warfare associated with it...but perhaps it was a simple as the military, below the old generals, simply refusing.
It may well go the same with the Chinese. They are still building up their military like there is not tomorrow..and there will come a time when they will tempted to use it to deflect the people’s attention.
But, they are a good 5-10 years still fom being able to be a threat serious enough to actually be able to challenge us to the point of matching us, though right now they have gotten strong enough, modern enough, and large enough to require some pretty good hurt to put down.
I’d love to see the people there, in such a crisis, through off the old school entirely and embrace the Free Market and Republican principle. I believe it is possible...but we’ll have to wait and see what ends up coming of it.
In the late '80's and early '90's I was in a position to be a close observer of things in the Soviet army. What I saw was that after about 1989 they no longer had the fuel for a real war, and at times not even food for the troops. Forget about payroll.
By the end, in early 1993, it was so bad that the Russian army confronting NATO was incapable of movement, and they were buying food, even, from the local economies any way they could.
I knew of one special case where a Russian Colonel sold an important satellite communications system to a US Army Captain that he knew was an intelligence guy for only enough to buy food to get his regiment on the train back to Moscow.
I believe it. To this day they cannot afford the forces they do have, and most of the older forces, particularly ships, are rusting away to nothing sitting in port.
So, not only wouldn’t they...the plain and simple couldn’t.
Right now the Chinese do not have this problem. The are awash in cash. But that could change pretty quickly under the right economic circumstnaces...and there will be a time of vulnerability if it starts down that path to use it while they can.
The Rising Sea Dragon in Asia
http://www.jeffhead.com/redseadragon/
In essence, that is what happened to the Soviets. I have always viewed it as one of God’s miracle and tender mercies that there wasn;t a period of warfare associated with it...but perhaps it was a simple as the military, below the old generals, simply refusing.
It may well go the same with the Chinese. They are still building up their military like there is not tomorrow..and there will come a time when they will tempted to use it to deflect the people’s attention.
But, they are a good 5-10 years still fom being able to be a threat serious enough to actually be able to challenge us to the point of matching us, though right now they have gotten strong enough, modern enough, and large enough to require some pretty good hurt to put down.
I’d love to see the people there, in such a crisis, through off the old school entirely and embrace the Free Market and Republican principle. I believe it is possible...but we’ll have to wait and see what ends up coming of it.
It will not happen, as indeed, it cannot happen.
The core issue with China is not a lack of the correct political or economic systems, but rather, as in the case of the Russians as well, is the lack of the right culture.
Neither China, the Russians, nor most of the nations of the world, have cultures that can support free societies. It is our culture that sets us apart from the other nations and peoples of the globe. We, however, are suffering an existential crisis because our culture is decaying due to assault from within, and from without, and due to internal neglect.
At the heart of all cultures is a set of values that are passed on from one generation to the next. Our set includes: respect for human life; respect for private property; respect for the rule of law; and, respect for education and learning, as well as others.
For the Chinese, the Russians, or any other people, to in your words, "embrace the Free Market and Republican principle," they must first change their culture to one similar to ours.
The bad news, for them, is that cultures are very difficult to change and hence tend to change very slowly. This latter point is positive for us; however, mass and rapid immigration can accelerate the change of culture. Accordingly, the rapid immigration, over the last several decades, that we have allowed and continue to foster, works to our detriment.
If we do not soon stop the assaults on, and the decay of, our own culture, it is not likely that any other nation or people will replace us. Rather, we will simply become just like them.
No one knows who profited with $$$ Millions in profits in put options that were mysteriously traded just before 9-11 --
Excerpt:
Bill Bergman-a former Federal Reserve (Chicago branch) economist and policy analyst, who has raised concerns about unusual currency transactions pre- 9-11----including billions in one hundred dollar bills, is the guest this week on the Robert Wenzel Show.
Bergman worked at the Chicago Federal Reserve for over 13 years as an economist and financial markets policy analyst, until he started asking questions about unusual currency movements before 9-11. On the show we talk about what happened to him, after he started his investigation.
Mysterious Currency Transfers Before 9-11
No one knows who pulls the strings _____ ? Corruption rules everything in DC.
LOL !
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