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According To Its National Bureau Of Statistics, Chinese Food Prices Have Increased By 4.6% In Ten Days!
This is simply stunning. A quick parsing of the data released every ten days by the National Bureau Of Statistics of China indicates that the average price of food in 50 cities in the January 21-31 period has increased by 4.6% compared to the prior 10 day period (and 416% annualized)! Granted, this is a simple average calculation of the 29 food items tracked without any weighing, although a quick glance at the components confirms that tonight's Chinese CPI will likely be a doozy. Some of the key changes: cucumbers up 28.2% in ten days, kidney beans up 21.9%, rapes [no pun] up 14.5%, tomatoes up 12.9%, hair tails up 4.7%, bananas up 3.6%, chickens up 3.1%. And this, again, is in the past 10 days! But not all is lost: Soybean oil actually dropped by 0.1%. Time for China to release an adjusted adjusted CPI which excludes all foodstuffs except for Soybean oil (and remember, in China, food is 31.4% of CPI)... which actually is exactly what is about to happen.
From the NBSC, which is somehow more transparent, and accurate, than the US' own Department of Truth.
But fear not: that 31.4% for food as % of CPI...that's about to be revised dramatically lower. And that will make inflation disappear.
Chinese stocks jumped more than 1 percent in early trade on Monday on talk of slower-than-expected inflation in January.
Traders said that consumer prices may have risen 4.9 percent in the year to January, well below the consensus forecast of 5.3 percent. The official data will be announced on Tuesday.
But they added that the surprisingly low reading may have been the result of changes to the weighting of the consumer price index (CPI).
The benchmark Shanghai Composite Index was up 1.5 percent at 0237 GMT.The National Bureau of Statistics regularly adjusts the composition of the CPI basket, conducting small tweaks every year and a major adjustment every five years. It is due for the five-year shift.
The statistics agency is expected to reduce the weighting of food in CPI and, with rising food prices having led the pick-up in Chinese inflation in recent months, such a change would likely lead to a lower inflation reading.
So all shall be well, and people will never be hungry on paper ever again. In the meantime, buy stocks. Unlike gold and crude, paper is edible, if completely inert in the human digestive tract. Time for some biotech to come up with a drug allowing the stomach to decompose cellulose.
h/t John Lohman
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you wont see this in MSM headlines
Does this mean they won't honor the buy-one-get-one-free coupons if you're seated before 5:00?
It's only 168% annualized (not compounded every 10 days however)
Technically, it should be compounded though, so the correct forumual is (1+ 0.046)^(365/10) - 1 = 416%
Touche'. 168%=meh.
400%=Food riots=Balkanization of the PRC.
$19.40 per gallon of milk?
Are my calculations right?
----------------------------
8.2 yuan
250 grams
1.24 dollars
0.55 pounds
2.26 dollars/pound
8.6 pounds milk / gal
19.4 dollars per gallon
Maybe so...
http://www.businessinsider.com/china-more-expensive-than-america-2010-12
This is actually really good news. Good to make people upset.
Absolutely correct Fish... the best thing we can do is drive these food commodity prices to the moon and then look at how many multiples of Global Annual Grain Production Goldman and Co. have on their books.
There will be blood in the streets.
Then "God's Work" will truly be done. But we need to drive these prices up hard and fast and NOW!!!
As a side benefit... as food inflation runs rampant throughout China the workers will demand more $$$ for their labor... thus helping the handfull of American manufacturing companies still producing real goods (you know... the 'old' economy) to become more competitive.
Oh... and the 28% increase in the price of cucumbers?
Roses aren't the only thing that goes up in prices right before Valentines day!
Actually, they pay $10.46 per gallon. keep it simple stupid KISS
US $3.49/gal x 3 = $10.50 in China
UK' inflation comes out in 10 mins
Fly lice for everyone
WTF?
Three times as expensive.
screw the ticky and the laundry, how do these people eat?
Three times was more than two months ago. Tyler's data is last week.
KISS no worky...you are going to need to improve your conversion abilities if you want to survive hyper inflation.
Sorry, I stand corrected.
Milk and milk by-products are not necessarily an accurate measure - Chinese diet uses far less milk than the US does per capita, and consequently there aren't the level of subsidies on it that there are in the US. Ditto beef. On the other hand, chicken, pork and rice prices are probably roughly equivalent, and they're at worrisome levels.
+1
The chinese don't forcefeed their kids BGH milk and eat a bowl of cereal every morning. Chicken is but not so much, however pork, rice, bananas, cucumbers, lamb are pretty significant.
Agreed, but the parents do want the kids to drink more milk. They are encouraged to follow what's called the American model.
They'll put up with it until the plice of lice goes up. Then they won't.
Some of them are already eating plastic rice.
Has the cost of that gone up as well?
Check the price of oil to see if plastic rice went up...
Good news is the adoption rate of dogs and cats are skyrocketing!
You better lay low for a while Mr. P.
+++
rotflmao..., advice well taken.
You'll see only the results of it several months later (at best), in the meantime, MSM moved on from Egypt to much more important news, like Justin Bieber's performance on Grammy.
Some really nasty shit hits the fan, when rice prices go up, since almost two billion people eat it every day.
Reason being is the 80-100% crop failure across the board in Mexico.
http://www.upi.com/Business_News/2011/02/12/Freeze-in-Mexico-decimates-c...
Plant life doesn't live very long with snow on them.
No worries. The stock markets are up. Everything is great... just ignore reality.
Yep.
Any more global warming and we'll all freeze to death! :)
life in our anti demisonaly challenge existance
freezing is the new sweltering ...
debt the new wealth ..
truth , just filler between
the lies and deceptions ..
buy the dips
bytches ..
Some "GDP boosting" inflation sent to you from your dear friend Uncle Sam with Love.
Hug and Kisses, Timmy and Bennie.
Isn't that the whole purpose of POMO?
Retail "sales" in dollar amount was up- so people are buying more. Wrong.
U3 Unemployment is down to 9%- so economy is recovering. Wrong.
GDP was at 3.4% for 2010 projected at 4% in 2011- POMO works. Wrong.
I just do not believe it.
These aren't China stats.
Where are the listings for Tree Ear, Deer Lips and Duck Tongue?
I don't even see "Dog, medium (10-25 kg) - juicy".
Com'on man. What kind of show are you runnin' here?!
Right on, banko. No listing for Cashew Kitty, Bird Nest Soup, or even Tiger Penus.
On the other hand, what is hairy tail, and why do I probably not want to know?
Only liberals get away with blatant racism..
Its got more to with MMT then MSM anyway - check out Jesse for a series of great blogs about the subject , he uses Cullen Roche article on MMT as a background for his thoughts - very enlightening.
Anyway its Bernanke's gift to Asia - such power ,such power - it must corrupt.
How many people will Bernanke eventually kill? My money is on millions.
"Now Doug Kass Is Spreading Rumors About John Paulson Dumping His Gold"
Read more: http://www.businessinsider.com/doug-kass-john-paulson-gold-twitter-rumor-2011-2#ixzz1DxDLmOo4
Certainly the amount Hitler killed will pale into insignificance in comparison, but because they are spread around the world and 'only' poor no-bodies will not be counted, just like the unemployment figures
I'm honestly so friggin tired of BI. Their entire editorial direction shows ZERO courage, ZERO credibility, and ZERO integrity. Their business plan is so obviously about the exit strategy: selling out to a MSM company.
Practically every single headline of theirs is essentially pushing the "established" view. For ages they have been absolutely denying any evidence of inflation, but now that inflationary headlines are starting to appear in MSM publications, they have suddenly started parroting these.
Oh, not to forget about gold. When gold goes up, it is completely ignored. As soon as it goes even moderately down, Weaselthal writes 6 pieces about it. It might as well be a cheap copy of Marketwatch.
Paulson sees the end of QE. Getting out of gold before the crowd. BTW a wonderous sign of a crowded trade is one in which interest is only piqued when price moves against the hopium of the masses. ,-)
You calling my Marketwatch "cheap"? Good for you.
I'd call it a whore, but that would be insulting an honest profession. :>)
+++
Hear, hear. I deleted the BI link I had created on the iPad months ago; it is quite evident that this site is an appendage of the Huffington Post.
I think the word you are looking for is 'whores'.
Edit: You beat me to it, CD.
Pimp is spelled CNBC
Who owns CNBSC? Who owns them?
Obama
Who owns Obama? Who owns them?
Those that own them also own others. Left, Right, Center, Tea. All owned.
Want to know who is owned and not? See if they support Glass-Steagall.
(other than ignorance)
Those that are not owned prefer Glass-Steagall
Those that are owned say it's either
a) won't work
b) unconstitutional (bs)
c) not needed/doesn't apply
All are full of shit.
The kelptocracy, otherwise known as our British Imperial Monetary System (trending fascist) in practice will not allow Glass-Steagall at any costs. Why?
Because the ideal, the standard (the real stress test), that Glass-Steagall would put the world through would destroy all fraudulent endeavours as well as any entity related to it. Which would be many.
In other words, good times.
But people don't have the balls, the intelligence, and have become too 'captured' by monetarist ideology to really want to implement the ONLY solution.
Glass-Steagall
Cut the fraudulent debt. Then talk about cuts. (guess what, after glass-steagall takes out fraudulent debt....you won't have to talk about cuts...gasp)
It really is as simple as Glass-Steagall
Of course the not so simple part is ramming it through the captured or idiot heads.
+100
Who owns Obama ? Goldman. Hank was the broker. Bought on the cheap.
ROI to infinity.
Weaselthal is either an extreme idiot or someone positioning to sell BI to some MSM crap site and trying to bring up the hit count by writing columns that people respond to in the negative because they are so incredibly stupid. Every time I begin to read a column at BI that is obviously an incorrect, clueless interpretation of some market event, I check the author and, sure enough, Weaselthal wrote it.
"I think it’s entirely unfair to attribute excess demand pressures in emerging markets to U.S. monetary policy because emerging markets have all the tools they need to address excess demand in those countries. It really is up to emerging markets to find the appropriate tools to balance their own growth."
Yeah Bill.
Just get rid of the reserve currency thingy and you'd be right.
That's a Bernanke quote.
Hey but they have the biggest mall in the world (nevermind that it's empty): http://www.youtube.com/watch?v=emzKAa9rKgU&playnext=1&list=PL7E73151FE30...
(that whole playlist is interesting).
They're planning the biggest mega-city in the world: http://www.telegraph.co.uk/news/worldnews/asia/china/8278315/China-to-cr...
I wonder if it will have over a million people living literally underground like they already do in places: http://www.telegraph.co.uk/finance/china-business/8291626/Underground-wo...
What a great series of links. I think Chinese leadership is actually crazier than US leadership, they're just not as powerful so they don't do as much damage
It is a good list - the only thing missing is their computing could buildout
http://www.computerworld.com/s/article/9208398/China_building_a_city_for_cloud_computing
Cloud computing is about the most moronic idea I've heard in a long time. Put your data exclusively on a worldwide accessible network that can be hacked or brought down/impared by most any script kiddie. Hell, it's now even recommended that you access any online banking or investment accounts using a Linux live CD:
http://voices.washingtonpost.com/securityfix/2009/10/avoid_windows_malwa...
Put your company's essential data on the web? Brilliant...
I hope China implements cloud computing in everything they do.
Please... BI is part of HuffPo (same investors), which is now part of AOL
Behold his (Ben Shalom's) mighty hand!
Who is the most powerful person in the world? Benjamin Shalom Israel Bernanke.
Just in case you were not aware, Ben said "inflation is too low..."
1789
Maybe I'm nit picking the chart...but is that "Rapes" for 4.45 a kg? I shudder to ask but how is the weight determined?
I missed your comment before posting mine below. Credit goes to you for being the first to spot the rape inflation...I'm still taking credit for rape seed oil however...Rape Seed Oil, because there's always time for lubricant.
The "Rapes" referred to is the yu choy plant(Brassica napus) the shoots of which have been popular(and expensive) in Chinese cooking for centuries. The seeds of a mature plant are used to produce Canola oil.
It is a little easier to hide a crack up boom in an authoritarian government that considers steel production a state secret, but people will notice eventually.
At least those of us in the U.S. have nothing to fear yet when it comes to inflation.
WTIC now down 9 out of the last 11 days.
Natural gas still bombed out at fresh, record lows (adjusted for inflation).
Subway still running $5 sandwich deals.
So we can still drive our SUV's that get 11 mpg, heat our homes at practically zero cost, and buy $1 "Extra Value" meals at McDonalds and $5 sandwiches all day long...
LOL...
You are clearly delusional.
He is doing it for the lulz, every Robo's post collects some healthy number of very angry replies. Although, his message gets repetitive, thus not so entertaining anymore.
nothing like an oxymoron to describe
While WTI languishes Brent is making new highs virtually every day...I have a feeling WTI is now becoming like the gold market...push paper around to arrive at whatever price Da Boyz feel appropriate for the moment.
And hilariously, the XLE is at fresh rally highs and closing in on 2007 levels, when oil was about to explode and Natty Gas, Coal, and Solars were going parabolic.
At this point, I would rather just BTFD than eat.
You can easily spend $8 on a McDonalds "value" meal.
However, you'll live longer if you don't.
Well, they didn't say high value.
It's another sure sign of the times that, alongside their Happy Meals, they are planning soon to introduce meals for all the other emotions as well.
Anger. Frustration. Despair.
Fed delenda est.
+1
All their imported chinese toys have their heads decapitated, that sort of thing.
Actually, mine gets 19 mpg.
And gas is up 16c in 3 days here...
Robot has just proven he lives at home with his mommy-
" heat our homes at practically zero cost"
I just paid my PSE&G bill, it was up 25% since December, I now pay over $600 per month on heating.
With that said, he has zero credibility.
Robo lives in SoCal, so yeah cheap heating. It's all about location. Hell I have to be honest I never bothered turning on my heater this winter. Granted, summers here are brutal to try to keep a place under 80.
Where are you located, if you don't mind the inquiry? It seemed to me that the winter here in AZ was a bit colder than usual. I enjoy it while it lasts though.
robottrader: when you can't get a laugh from harry wanger.
Gasoline at all time high for month of Feb. Have yourself some fun in that Hummer! :)
Subway and Micky D deals on Hazardous Materials so there's no food inflation. LOL, I fear your diet may be your problem.
-43 below zero last night
throw another bundle of 20's
in the stove ..it's all good ..
After seeing their M2 supply chart few days ago, I don't feel sorry at all.
Stop printing let your currency appreciate.
Of course, that wouldn't go well with the elite that controls cheap good producting factories...
On a slightly less serious note, WTF are hair tails and why would you want to eat them?
You don't eat them. They are a decorative item which is used to disguise the fact that the portion of real food has somewhat diminished since your last meal.
"Let them eat hair tails" is the official advice.
Seems that China has been very quiet about the food inflation run-up. It's always the quiet ones who end up in the bell tower with a rifle.
The Bernank is trying to force them into de-pegging the yuan and they don't like being forced into anything. They are going to be pulling on the Bernank's Hair Tail with Rapes (sorry, couldn't help myself)
And I guess the fact that China is weakening economically is not an issue to our markets?
I could have sworn we sold stuff to them and bought their stuff, which coincidentally is getting more expensive.
http://www.minyanville.com/businessmarkets/articles/chinese-exporters-us-importers-coach-stock/2/14/2011/id/32791?from=ameritrade&camp=syndication&medium=portals
Someone eats hair tails? First I could not evven grasp what that meant. Then it struck me, Hare Tails, typo?
What? Makes me sure the Chinese will live the longest in a famine because they pretty much eat everything...
ORI
http://aadivaahan.wordpress.com/2010/06/14/know-thy-self/
This will be quite the treat. Either China faces food riots because of mounting costs or the CCP lets the Yuan move up and sends a torrential flood of price increases to the US. Honestly one has to wonder why is the CCP gambling at all, why not pull the trigger now? Why wait? I can only think they are feverishly buying non dollar assets before they try the move and are trapped in a race against time and the Infinite Ponzi Machine.
It is in China's best interests to exaggerate their inflation as much as possible in today's CPI... think about their exposures and position in global finance and politics...
Umm...why are "Rapes" and "Rape Seed Oil" reported on this list?
Rapeseed is actually valid. It's labeled in the states as canola oil. Marketing rapeseed oil might be a tough sell in the states.
http://en.wikipedia.org/wiki/Rape_seed
As to rapes, I'm stymied.
Learn something new everyday.
It's a prison commodity, usually flourishes in the showers by proxy of twinks.
I believe the rate of exchange is 1 shank to 4 soap/towel beatings to 8 rapes...or half a carton of methol cools which ever is offered by the shop floor gang manager at the time.
Because it's a major export of the Russian army.
I used to think Obama was the dumbest guy in Washington but now I believe Bernake has him lapped.
They are not dumb. They're very clever, actually. Obama is owned and knows it. Bernanke is without any substantial resistance wringing the last bit of cash before our next collapse from the middle and lower class participants in the great Ponzi scheme that is the world's financial system.
I eat avocados everyday as part of my diet, and they just went up 20% from a few days ago.
Be careful. Wolves love avacados. Check under grandma's hat for pointy ears.
Ok I gotta ask, what diet includes daily avocados?
I'm on a low sodium diet (for hypertension). Avocados are rich in potassium which helps that. Plus, I love them. Everyday for lunch I have half a large tomato and half a large avocado, with a homemade vinaigrette dressing. No salt in any of that.
double post
So ... when you say that was a double post .... do you mean you really only eat a quarter of an avocado?
Fed delenda est.
My friends have learned to always multiply everything I say by .5
Reminds me of a fellow who used to haunt the Yahoo message boards years ago, at least for the PMs. Called himself Tommy2times, 2times.
avocados are toxic to most animals
I haven't been attacked by an animal since I started it.
although I love avocados!....They are very high in fat content...150g avocado has 22grams of fat
True, but they have zero chloresterol and contain L-carnitine which helps to facilitate fat metabolism. I started this diet about 1.5 months ago, not to lose weight, but I have lost about 5 pounds on it. I quit smoking a year ago and gained 20 pounds, so I would like to lose that extra weight.
I was not happy to see the sudden price increase.
Daniel Dicker, Real Money Contributor WTI - irrelevant 2/14/2011 11:32 AM EST
West Texas Intermediate (WTI), the Nymex benchmark for crude oil has become, at least temporarily, entirely irrelevant for describing what's going on in global oil. Brent/TI is now well over $17 dollars, more than a temporary 'dislocation', this is signaling the end of a benchmark --
http://www.thestreet.com/p/_columnstconver/dps/cc/columnistconversation1.html
Happy New Year!
the historical record of a metric becomes increasingly irrelevant once people start 'tweaking' to get the result they want.
Food addiction in America is a massive epidemic. Salt, Sugar and Fat. Junk food and GMO’s. 70% have some form of a weight issue. 1 out of 2 are overweight and 1 out of 3 are obese.
On top of that, prescribed and non-prescribed drug use is running rampant as psychotropic drugs are handed out like candy.
Combine the food addictions with the drugs, add in skyrocketing food prices forcing these people to eat pure salt, sugar and starch and in the short term, these will be the dangerous people. Sad but true. When you hear the term “Zombies” you now know who they are. Look at the body, look at the eating habit. Withdrawals from these veritable kaleidoscope of addictions is going to be massively nasty.
Unfortunately the vast majority of Americans don’t have a clue of why to eat, what to eat, when to eat, where to eat and HOW to eat.
In the long run, when the great die off is behind us, those that survive will have no choice but to eat like the Cubans did after the Soviet Union left town, i.e. organic, wholesome food. It was their Special Period and leaner bodies again became the norm, BUT extremely painful for their culture. Get ready, our Special Period is about to force fed us home grown garden food. Will be the best thing that ever happen to this country.
Note: In the first month, when the food is gone it will be like Hell, at least for those who weren’t prepared. After that, when starvation sets in, so does lethargy.
A sure way of finding out how you’ll do in the upcoming storm is to go cold turkey for 36 hours (no, that's not eating just turkey). No food, drugs, alcohol. Just pure water. See how you feel. That’s the "36" litmus test. (There's the 8, 24, 36, 72 tests, but why go there) Look in the mirror. Remember Food Addiction is an epidemic in America. Almost everyone has that dis-ease/dis-order.
I agree with you in principle, but it isn't just the US, and mebbee the coming disruption will help bring forward a solution. If more people felt the need to grow at least some of their own food, it might reconnect them with an appreciation that was lost.
The public has been led to accept inferior money, and inferior food. The worst food I ever ate was indeed in the USA. The further you get away from corporate agri-business, including some very poor places, the food tends to get better.
Ran home to the haggis, did you?
When the Cubans were forced to grow their own food once the Soviet's left and took the oil that produced the fertilizers/pesticides, they soon learned how to grow "organically", they had no choice. The quality of food improved immeasurably; their physical health followed in stride. It will be the same in America, someday. Food won't come from somewhere on the on the other side of the planet. It will be local, grown within a hundred miles. GMO will be banned (if it's not too late) (besides, can't compete with quantity and quality of Organic) for it's destructive effect on all living systems.
Yes, the Solution will be (after the Phase Transition): Healthier humans. Drug free humans. Toxic free landscapes. Humans understanding their purpose on the planet as "Caretakers" of each other and the landscape. (Isn't clear by the chaos and greed that most Americans are out of touch with their purpose, why they are here?) This "opportunity" to reconnect couldn't have come at a better time. Like a prescribed burn (low intensity) in the forest, one that cleans, purifies and rebuilds the forest floor and leaves the canopy of old growth timber above, life returns on the ground level and below the surface, refreshed and revitalized.
And you are right. GMO food is inferior. In fact, it's not even food. It's poison and kills over time. And the junk food in America is the popular dish of choice. Any wonder why Americans are the most unhealthy nation in the world? You are what you eat.
Everywhere is going to be a Charlie Sheen nightmare out there. Drug addicts, nicotine addicts, caffeine addicts, thrill junkies are all on the table. Some people are storing food for bad times.
We have the similar test in America for those of us who don't tolerate our lead being taken away, it's: 8, 24, 36, and 72 -- except it's measured in minutes.
posted this earlier
agflation interactive chart
http://static.reuters.com/resources/media/global/agflation/agflationWidg...
Not your typical Mutual Fund Monday today, is it? Why is that? China CPI got caught in the perpetual motin machine?
- Chairsatan Bernanke
In some areas of China they are having a severe drought. This may be similar to the overfarming and aquifer depletion we engaged in just before our "dust bowl". Pay attention to this.
I blame this as much on the Chinese central bank as Chairsatan. They have been printing Yuans just as fast if not faster than we print dollars, but are also lending like crazy on top of that. Their inflation is largely their own doing.
They have to print to maintain the peg. When they drop the peg, their inflation will diminish and ours will kick up a gear or two. Everything we import will cost more.
And off we go with clothing prices rising
Prediction of 10% rise by Spring.
http://www.cnbc.com/id/41575599
Benny and the banksters are feeling an orgasm coming! With China inflation stoked, can US be far behind?
As I've been saying, China and US are locked in a tango, destined to have economics that resemble each other more and more. China exports were up 33% last month. And they're grabbing for natural resources around the world, as we've been doing for a long time. So they're "paying the price of success" while we "pay the price of failure" in terms of margin pressures, wage and employment stagnation all causing consequent offshoring of more businesses and jobs.
As China moves toward liberalizing its economy and markets, so the US will march toward more central control. No choice here.
Great stuff today TD.
Thinking China doesn't have to lie about the CPI print yet...they just jail and shoot dissenters. Love to see a ZH China style. LMAO. Prob they would find that you had unprotected sex with a Chinese gal and lock you up for a decade or two.
the presumption of sex is an interesting presumption on your part. Tell us what you think about when you ... never mind.
A question I've been dying to ask: What effect would a sudden crash in the Chinese market have on the Fed's QE program? Would all the markets come crashing down? Would all the QE liquidity come back to the U.S., reflating the housing market? etc.
Anyone notice rape is up 14% in one month? Things are getting worse than I thought.
It is obvious that the government purpose of tracking the statistics of anything related to the economy has nothing to do with formulating sane economic policy.
I traveled to china the first time in 1996 and was there again in 2009. My first trip wasn't long after market reforms had eliminated food price controls. My chinese friend said that fruits and vegetables are more expensive in the winter because thay are grown in hothouses or come from mexico(equivilent of). Some of this is normal seasonal price fluctuation. The markets in china are fantastic, I reccomend a visit.
Don't really see the issue here... I'm always hungry an hour after Chinese anyway, so I'll just stick with $5 Subway!
I remember Martin Wolfs don't fuck with us article on the FT - basically we have really rotten Jewish boys on the inside , and when they can't extract yield off us anymore they start looking for external enemies to kill and obtain whatever surplus they can and then we are happy to go along for the ride forgetting the past like it was a different country.
I was always a cynical soul but these last few years have really rocked whatever illusions I had before the "event"
Dork - you didn't get the memo.
1. You can not say Jewish boys.
2. You can never ever say rotten Jewish boys as there is clearly no such thing.
Slag away at any other racial/ religious, ethnic group as you wish, like Muslims. In fact, slagging Muslims is always in good form.
For example, you can say Italians own the Mafia, but prominent Jews do not run Wall St., the City of London, or the regulatory bodies and more that are supposed to oversee these markets.
Sure I know I know but I subscribe to the Merchant of Venice theme - where the guys who engage with the money lender are just as bad as the lender himself - in many senses Shylock was to be pitied more then hated - the whole tradition and monetory dance was / is a mirror of Christian hypocrisies.
the story is misleading, and should have contained more info and data if it wanted to give a clearer picture.
China just began a New Year for them. There was No Mention of the Wage Increases, both Minimum and Average, plus the promise that has been kept for years, to always Raise Wages Above the Inflation Rate, a more honest Number at that. I'm not going to go and dig up all the supporting resarch notes on this topic. Anyone can if they wish to, 'cause it certainly won't be found in our news reporting. Example paste below and they had 2 Wage Increase last year, often its 'across the board', meaning everyone gets the same increase, not a minimum wage increase, plus the Purchasing Power of the Yuan is ignored, as usual. No matter the country, anytime you hear something like, "they make $5 a day", its misleading w/o telling you what $5 will buy in that country:
Beijing has announced its minimum wage will rise by 20.8 percent this year. Jiangsu, an affluent region adjacent to Shanghai, is hiking its minimum monthly pay by 15 percent and Guangdong, by about 19 percent in March to 1,300 yuan (about $200) -- the country's highest.
Mindful of past links between surging inflation and political unrest, the authorities have sought to reassure consumers that they have prices under control.
China's inflation rate was at 4.6 percent in December, down from a 28-month high of 5.1 percent the month before but well above the government's target of 3 percent. Annual inflation in 2010 was 3.3 percent, and many economists are warning that price hikes may persist in coming months, especially if recent bad weather keeps food prices above normal.
Guangdong to boost minimum wage by nearly 19%
Guangdong province will increase its minimum wage by an average 18.6% beginning in March, an indication that China's labor costs may rise strongly again this year, Reuters reported, citing state media. The wage adjustment will raise minimum salaries in China's export hub by between US$21.27 and US$30.37. This will make Guangzhou's minimum wage the highest in the country at US$200 a month.
Pay increases accelerated last year as China's economic boom expanded into the hinterlands and competition for labor grew fierce. Beijing has repeatedly pledged to increase workers' share of the national income in an effort to help boost domestic consumption.
30 provinvial-level governments in China raised the basic salary by 22.8% on average last year, according to Yin Chengji, a spokesman for China's Ministry of Human Resources and Social Security.
Yin said that China will raise the minimum wage again at an appropriate time this year and normalize the mechanism of pay increases. Currently, Shanghai's 1,120 Chinese yuan (US$170) and Beijing's 11 yuan (US$1.67) are the highest minimum wage per month and per hour respectively in China.
Local governments around the country have raised minimum wages and have been told to make sure future increases stay ahead of inflation.
So, does anyone know if this is related to year end adjustments or seasonals? I want to believe this is chairman satans fault, but I need facts!
Yeah, when did McD's fries go to $2? Not a place I usually frequent but was there yesterday for a kid's birthday and thought I would get a snack.
no fat
Chinese chicks
I can't imagine someone buying bananas without weighing.
Compared to what we pay in Canada those Chinese food prices are positively a steal. Three dollars for a kilo of chicken breast? I pay 14-20 dollars.
It's East Asia. Everything costs less.
Guess we're all destined to become termites, then! The socialists will be so pleased to see their dreams of a socialist society realized! I just hope no one pulls off my antennae!
In the mean time, I guess denial has become a river of lying statistics in Beijing!