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Westerners have since the mid-90s been predicting doom and gloom for China. Every one has been wrong. I suppose some jackball will finally get lucky and imagine he 'predicted' something when the Chinese economy eventually has a downturn, like all economies do, but it will have nothing to do with the veracity of the prediction. In any case, China still has plenty of room to grow within its domestic economy to weather any storm in the near turn.
What did they predict would be bad? If it was environmental pollution, they would be correct for example. However you, and they, need to be specific. Financial problems are easy to solve logically, when you are in the know. Its a huge political problem since macro economic fiscal policy is so counter intuitive. China has lots of material wealth, but they have a potential financial mess, if they lose that political battle. If the wrong person has influence and they stand to lose, they will push the wrong policy for everyone else. If they are like Wall Street they would spare a penny or their own for every trillion in losses for us.
However even more critically you have missed the point entirely. Running a deficit isn't a problem to me, its the solution. So my whole post said nothing about China's doom unless they don't put money into wages while stopping real estate speculation. So it was not that I think China is doomed at all. What I think is they are the only ones who are not falling for austerity.
We are headed into a world wide debt restructuring event. Fun Fun Fun.
Europe has provided an example of what not to do. We have decided that is exactly what we should do. We should pretend that we are a market economy, give the creditors everything they have stolen though monetary manipulation and fraud with, and then make this criminal class we can't vote against our central planners.
Its one thing to give bankers a huge cash pile. However that's not enough. The next step is to put America on sale at distressed prices so they can snap it up cheap. We gave them the money to pay fines and loan back to us , and we owe them the favor to sell to them for pennies on the dollar the money we gave them.
Its interesting to me also how China will do just fine because they are a creditor nation. Yeah that's what we were in the 30s and what Japan was in the 80s and still people just assume that its different. We were different after the first round of the robber barons and again after WWII. Its clear it only takes a generation to forget.
So my only hope is China will provide a better example. If they do I hope they do beat us since everyone will get what they deserve.
Its apples and oranges. China is still a 3rd world country in large areas. They need to modernize rapidly. Running a modest deficit is a smart thing to do, for their situation.
Its apples and oranges. China is still a 3rd world country in large areas. They need to modernize rapidly. Running a modest deficit is a smart thing to do, for their situation.
OK most people know the difference between apples and oranges. What is the difference between our D- infrastructural grade in the US from the needs of a third world country? I don't know what it is so I am hoping you could tell me.
Its apples and oranges. China is still a 3rd world country in large areas. They need to modernize rapidly. Running a modest deficit is a smart thing to do, for their situation.
More like apples and apples. Our wealthy distribution is that of a third world economy and it is hard to get into business.
Quote:
Originally Posted by gwynedd1
Europe has provided an example of what not to do. We have decided that is exactly what we should do. We should pretend that we are a market economy, give the creditors everything they have stolen though monetary manipulation and fraud with, and then make this criminal class we can't vote against our central planners.
Its one thing to give bankers a huge cash pile. However that's not enough. The next step is to put America on sale at distressed prices so they can snap it up cheap. We gave them the money to pay fines and loan back to us , and we owe them the favor to sell to them for pennies on the dollar the money we gave them.
Its interesting to me also how China will do just fine because they are a creditor nation. Yeah that's what we were in the 30s and what Japan was in the 80s and still people just assume that its different. We were different after the first round of the robber barons and again after WWII. Its clear it only takes a generation to forget.
So my only hope is China will provide a better example. If they do I hope they do beat us since everyone will get what they deserve.
That my dear friend is the moral justification to take the profit from the banks with inflation. Time to tax the banks.
OK most people know the difference between apples and oranges. What is the difference between our D- infrastructural grade in the US from the needs of a third world country? I don't know what it is so I am hoping you could tell me.
Look at the link. Many cities in china have had 5x population growth in the last 20 years. When you are rapidly growing like that, deficits matter much less.
There is no reason why we cant maintain sound infrastructure and run a balanced budget in the USA
Look at the link. Many cities in china have had 5x population growth in the last 20 years. When you are rapidly growing like that, deficits matter much less.
There is no reason why we cant maintain sound infrastructure and run a balanced budget in the USA
In China all cities have grown rapidly.
My hometown has grown from 300,000 in 1994 to over 1 millioin now. It is just a "small" city nobody knows.
You can now find KFC, McDonald's, and Walmart there! Last time I went to the McDonald's restaurant in downtown I saw a black man order in Chinese.
I keep telling people that its economy is the LAST thing China needs to be worried about. The fact that the country is an ecological basket case is of vastly more concern.
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