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Communism For Some, $815 Million For Others: How Mao's Granddaughter "Greatly Leapt Forward" To Untold Riches

Tyler Durden's picture





 

For a country, whose founder Chairman Mao once upon a time envisioned great wealth equality for all and a communist utopia, things sure have had a very capitalist ending. Perhaps nowhere is this more visible than in Mao's lineage itself, where we find that the granddaughter of Mao, Kong Dongmei, managed to rise above the great unwashed mass of egalitarianism, and ended up just slightly more equal as a result of the Great Leap Forward, with a personal fortune amounting to $815 million according to New Fortune, a Chinese financial magazine. But it is not so much the realization that the occupation of politics is one grand lie (second perhaps only to economics) and where preaching equality for all is merely a means to achieve great wealth for yourself, but that the 40 year old descendant of the Chairman, with her wealth of nearly $1 billion, is merely the 242nd richest person in China, which means there are over 200 billionaires in the country, the bulk of whom we can only imagine are descendants of the original "communist" founders of the country.

From AP:

Kong is the grand-daughter of Mao and his third wife He Zizhen. In 2001 she founded a book store in Beijing selling publications about Mao and promoting "Red Culture" after studying at the University of Pennsylvania in the US.

 

In 2011, Kong married Chen, who controls an insurance company, an auction house and a courier firm, after they had maintained an extramarital relationship for 15 years, according to the magazine, which cited other Chinese media reports.

 

The couple have two daughters and a son, said New Fortune -- likely to be a violation of China's one-child policy.

The locals, attuned to flagrant examples of hypocrisy, were not exactly delighted with the revelation:

Kong's inclusion on the rich list triggered hot debate on China's Twitter-like weibos, with some accusing her of betraying her grandfather's status as the "great teacher of proletariat revolution".

 

"The offspring of Chairman Mao, who led us to eradicate private ownership, married a capitalist and violated the family planning policy to give birth to three illegal children," wrote Luo Chongmin, a government advisor in southwest China.

 

China has implemented the one-child policy for many urban residents for over 30 years, although there have been recent suggestions that the rules may be loosened.

 

"Did Kong Dongmei... pay any fines after being a mistress for more than 10 years and giving birth to three kids?" asked another user with the online handle Virtual Liangshao.

Yes, and a bundler for the president in another non-crony capitalist country is in prison for commingling client funds before blowing up his firm as a result of his greedy bets. Oh wait...

But at least Kong was not caught trying to hide her wealth offshore like some of her uber-wealthy peers in a country in which parking one's cash has become the biggest priority. And lots of cash to park there is. According to China Daily, "Privately held wealth on the Chinese mainland hit 80 trillion yuan ($13 trillion) in 2012, with more than 700,000 individuals now holding 10 million yuan or more in investable assets, more than double the number at the end of 2008, according to a new report." In US terms, this means the number of millionaires has doubled under 350,000 during the course of the great financial crisis, once again showing that not even China is willing to let a crisis go to waste.

The findings, from China Merchants Bank and US-based management consulting firm, Bain & Co, showed that the richest on the mainland are stepping up their investment in foreign assets as they try to preserve their fortunes in the face of uncertain economic prospects.

 

Many of those surveyed said they are becoming increasingly concerned by potential changes in Chinese regulatory policies, financial market volatility and other business risks.

 

About 60 percent of respondents indicated they were now focused on preserving their wealth, against using it to make more.
Chen Kunde, wealth management business director at China Merchants Bank, said the shift in priority was being driven by uncertainties over economic growth.

 

"As the rich gradually age and their knowledge changes, they are tending to focus more on preserving the wealth instead of fighting to create more, in a business environment where it is becoming more difficult to make extra money."

Where do the wealthy want to stash the cash?

On top of cash holdings in traditional bank accounts, individuals said they had a strong interest in forming family trusts, and in creating a diversified portfolio of international interests to preserve their wealth and spread the risk, said the report, with more than half having overseas investments.

 

Jennifer Zeng, a Bain partner in Beijing and a co-author of the report, said: "We don't see a great difference between high-net-worth individuals in China and other countries when it comes to their goals, although the situation here is changing and the shift toward the preservation of wealth might accelerate as the speed at which the wealth was created was faster than in most parts of the world."

 

The report said that Chinese banks had strengthened their position in the domestic wealth management market, while foreign banks had a much lower share of the market due to business restrictions.

 

It said the need for overseas asset allocation among the rich is rising, and China's banks should be encouraged to develop overseas business models and accelerate overseas expansion, to better cater to that rising demand.

Our advice: stay away from banks susceptible to bail-ins. So anywhere in Europe.

As for the great wealth disparity forming between both China, and the rest of the world's, uber rich, and everyone else, a similar divergence developed in 18th century France with less than desirable consequences for the wealthiest. This time will likely not be very different.

The only delaying factor is the presence of the great welfare state myth, which has so far kept the great unwashed in their place, not so much through violent oppression, but through the illusion of how much they stand to lose if they overthrow the system that provides for them, and hands them crumbs in times of need. The same system that is now and always has been, an insolvent ponzi scheme which by definition lasts only as long as the new entrants put in more than existing members take out.

That equilibrium, however, is rapidly changing all around the globe, as more and more realize, voluntarily or otherwise, that the system is broke, and with the great debt creation apparatus now hinging purely on the world's central banks - a process which just like in Cyprus dooms the restoration of confidence as it is impossible to be confident about a system sustained solely by a few global "bad banks" which are terrified to remove the training wheels - that the days of the ponzi are numbered.

 


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Thu, 05/09/2013 - 17:58 | Link to Comment Frastric
Frastric's picture

Three golden ways to make money: inside info, luck, and inheritance.

Thu, 05/09/2013 - 18:05 | Link to Comment kliguy38
kliguy38's picture

"Our advice: stay away from banks susceptible to bail-ins. So anywhere in Europe."

 

Ya THINK??

Thu, 05/09/2013 - 18:12 | Link to Comment NotApplicable
NotApplicable's picture

Kong Dongmei?

NO

Kong Dongyou!

Thu, 05/09/2013 - 18:16 | Link to Comment Scro
Scro's picture

Kong Dong Mi; great porn name.

Thu, 05/09/2013 - 18:38 | Link to Comment Precious
Precious's picture

Billionaire ... but its still China.

Thu, 05/09/2013 - 18:39 | Link to Comment true brain
true brain's picture

Yeah? but can they breathe the air and drink the water? I'm still ahead. Stupid Chins.

Thu, 05/09/2013 - 18:48 | Link to Comment uno
uno's picture

wasn't Mao put in power when the US purposely stop arming chin kai shek?

Thu, 05/09/2013 - 19:16 | Link to Comment malikai
malikai's picture

If only the world was that easy.

Thu, 05/09/2013 - 19:33 | Link to Comment SafelyGraze
SafelyGraze's picture

".. after studying at the University of Pennsylvania"

yeah! penn!

go quakers!

let's go see them graduate!

http://www.upenn.edu/commencement/

Due to heightened security at Penn’s Commencement ceremony, the gates to Franklin Field will open at 7:00 a.m., and it is recommended that attendees plan on arriving as early as possible. Every guest will be required to go through airport-style magnetometers, and certain items will be prohibited from Franklin Field, including but not limited to oversized bags, bottles, tripods and umbrellas.

umbrellas?

oh. right.

the swat snipers on the rooftops would have a harder time identifying you under your umbrella.

 

The ceremony will feature .. our Commencement speaker, Vice President Joseph R. Biden, Jr. Tickets are not required for admission.

 

Thu, 05/09/2013 - 20:03 | Link to Comment Ratscam
Ratscam's picture

no such security measures at our Wharton graduation in 1998. we even threw paper planes down to the bozos who where so eager to get their certificate handed over in person while wearing a ceremony dress they rented for 80 bucks. Amazing how the US citizens have lost their liberties.

Thu, 05/09/2013 - 22:14 | Link to Comment Go Tribe
Go Tribe's picture

Bet she's a stacker, though.

Thu, 05/09/2013 - 18:44 | Link to Comment 12ToothAssassin
12ToothAssassin's picture

+1 for "Scro"

Thu, 05/09/2013 - 19:11 | Link to Comment azzhatter
azzhatter's picture

I like that she is in Tapei. Chairman would be pissed

Thu, 05/09/2013 - 18:10 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

Leave her alone.  She might be really good at trading cattle futures.

Thu, 05/09/2013 - 18:22 | Link to Comment max2205
max2205's picture

Thank god she didn't get grandpa's looks

Thu, 05/09/2013 - 18:29 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

Well, they all kinda look the same to me, but your right.  I doubt she could pull off the hairdo in that same dignified way that only Mao could.

http://upload.wikimedia.org/wikipedia/commons/9/94/Mao.jpg

Thu, 05/09/2013 - 18:10 | Link to Comment SafelyGraze
SafelyGraze's picture

"three golden ways to make money: pillaging/plundering; gambling/leveraging/speculating; extorting"

wow. cynical.

left out "hard work"

that's how most of us earned our first billion

good old fashioned hard work

$10/hr * 60hr/week * 50 week/yr

$30k/yr

you keep that up for 33 years and you've earned yourself a million dollars

oh shit. that was supposed to be a billion.

no problem.

work for 33,000 years.

or work 50,000 weeks in a year.

or 60,000 hours in a work week.

or .. or .. drumroll .. $10,000 per hour

Thu, 05/09/2013 - 18:51 | Link to Comment Downtoolong
Downtoolong's picture

My strategy is to sell pencils on the street corner for $1 billion each. I know it's a long shot, but, think about it. All  I need us just one customer.

Thu, 05/09/2013 - 19:08 | Link to Comment azzhatter
azzhatter's picture

i like your drive

Thu, 05/09/2013 - 19:25 | Link to Comment SafelyGraze
SafelyGraze's picture

get a room, you two

Thu, 05/09/2013 - 20:24 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

You're so innocent. The second best -- many argue that it's the best way -- is to marry into it. Then divorce out of it. Beats an MBA any day. Some even argue that it's the ultimate form of prostitution (marry in and out).

Fri, 05/10/2013 - 02:13 | Link to Comment zhandax
zhandax's picture

I started a risk management company in the early 90's with a guy who used to tell me "You can marry more money in 15 minutes than you can make in 15 years."

Fri, 05/10/2013 - 00:19 | Link to Comment CheapBastard
CheapBastard's picture

I read the Best & Brightest there want only one goal...to work for the Gubbermint.

 

Hey, if local officials (who officially make $800/month) can buy 20-30 condos in Beijing and Shanghai @ $1 million apiece (and how knows how many in Irvine and SF) , there must be somehting to these civil service jobs.

Fri, 05/10/2013 - 01:06 | Link to Comment Welder
Welder's picture

The same thing happened in Romania. After 1989, former communist aparatchiks have occupied the entire political spectrum, from extreme right to left. The majority of the population not only accepted them, but also strongly opposed the few who were demanding that no apparatchiks should be allowed in civil service jobs. I guess nothing happens without the victims' tacit agreement. 

Thu, 05/09/2013 - 18:01 | Link to Comment Element
Element's picture

Suckers!

Nah ... just the royalties on Mao's Little Red Book for CHICOMS

Thu, 05/09/2013 - 18:16 | Link to Comment akak
akak's picture

Make me laugh.

Just another example of Chinese Communaughty blobbing-up eternal nature.

NOW who is "farming the poor and extorting the weak", eh AnAnonymous?

Alas, alas, three times alas, just have to bear with the hypocritizenism.

Thu, 05/09/2013 - 18:55 | Link to Comment Element
Element's picture

It's like a feckin comic soap opera, Days of Our Angst.

Longest running soapy on zh!

Even if you miss a few episodes, no matter, you still know what the next one is going to be about. lol

Thu, 05/09/2013 - 19:52 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Now, some guy who know what sheep think, want and need. Better and better.

So, bit of return of factuality: this AnAnonymous shepherd wants to get a big flocking herd so he can live well off it. He does not want to lose one because it is money, he wants as much as possible because it is money.

Guy thinks to serve rat meat as lamb, so as not to diminish in numericity bigness his flocking the herd. Even mix in the little bit leftover kitten crispy from lunch buffet at JKC Chinese citizenism fastfood franchise.

It has nothing to do with sheep wants and needs and you do not need to mind read them. Just talk to the human shepherd (something much easier). Do not forget to blame 'americanism'.

Thu, 05/09/2013 - 20:07 | Link to Comment nmewn
nmewn's picture

"this AnAnonymous shepherd wants to get a big flocking herd so he can live well off it."

Such is the way of all tribes, clawing their way across the backs of the insignificant matterings of the sheeple, advising them that the bloody marks left are for their own good, to achieve a lifetime of comfort for only themselves.

I've never read a tombstone that said "I lived my life for the people and died in poverty for it."

And probably never will ;-)

Thu, 05/09/2013 - 20:17 | Link to Comment Element
Element's picture

 

 

I'm pretty sure in classical Maoism KFC crispy cat would be denounced, and branded food of counter-revolutionary bourgeoisie.

And rightly so ... rightly so ...

I like cats, but I can't eat a whole one.

Thu, 05/09/2013 - 21:14 | Link to Comment akak
akak's picture

Speaking of Maoist JKC franchises, hey, they are at least getting more honest in their advertising:

http://www.holytaco.com/we-knew-it/

 

Just make sure that you do not follow up your delicious me(ow)al in the traditional manner of post-wokking-the-dog:

http://www.holytaco.com/well-since-you-said-please/

http://www.holytaco.com/shame-this-sign-needed-to-be-made/

Thu, 05/09/2013 - 21:53 | Link to Comment Element
Element's picture

yup that cracked it lol

Thu, 05/09/2013 - 19:43 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

just the royalties on Mao's Little Red Book for CHICOMS

The fallacy in Mao See Dung Book of Small Redness is that people can do all the things.

Erroneous. It would only be relevant if all the students are known to work at night. And somehow this is supposed to mean.

Reminds me to something. Chineses are known to demonstrate for everything and anything. Demonstration is a national sport to them. Dog leg grows too expensive? They demonstrate. The weather has been smog, they demonstrate.

Thu, 05/09/2013 - 20:14 | Link to Comment Element
Element's picture

toilet paper short - demonstrate!

smelly finger - demonstrate!

fat guy swim down yangtze river - demonstrate ... no ... wait ... never mind

Thu, 05/09/2013 - 18:02 | Link to Comment McMolotov
McMolotov's picture

Chairman Mao once upon a time envisioned great wealth equality for all and a communist utopia...

Ha! Like that ever happens. Some animals are always more equal than others.

In the midnight hour, she cried, "Mao! Mao! Mao!"

Thu, 05/09/2013 - 20:30 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

But did she seal the deal for a White Wedding? Or did Sweet Sixteen just have her Idol time?

Thu, 05/09/2013 - 20:55 | Link to Comment YHC-FTSE
YHC-FTSE's picture

Talking of Animal Farm, thousands of pigs floating on Chinese rivers sounds like an omen of things to come. 

The peasants upto lower management types will tolerate a lot, but they can get real ugly very quickly when they sniff out corruption,  which is now at record highs. Last time I looked at the news on the Chicom politburo,  they looked scared at the level of corruption everywhere in government.  

A wage slave at Foxconn is not going to look kindly at a PLA colonel driving past in a brand new Bentley with military number plates. Expect a mob attack on one of them soon.

Thu, 05/09/2013 - 18:03 | Link to Comment PaperBear
PaperBear's picture

How many Chinese died under Mao ?

Was it a few tens of millions ?

That's a few tens of dollars per dead Chinese.

Thu, 05/09/2013 - 18:09 | Link to Comment Jason T
Jason T's picture

commie's didn't know wtf they were doing.  quite sad.

http://en.wikipedia.org/wiki/Great_Chinese_Famine

 

Thu, 05/09/2013 - 18:03 | Link to Comment Booya
Booya's picture

Tsk Tsk Tsk, the citizens of China actually believe it is about them as much as Americans believe things are done for We the People.

Thu, 05/09/2013 - 18:47 | Link to Comment Urban Redneck
Urban Redneck's picture

On the subject of "We the People" since both the USA and CSA constitutions begin with that line... If you look past the fundamental difference over slavery that we feed the young sheeple, and to problems addressed with the federal government, you could simply rinse and repeat the laundry list of grievances that came to head 150 years ago (or just realize exactly how far we haven't come)

One nation under an Almighty God, Single Term Limits, Immigration control, Congressional subpeona of Cabinet Secretaries, impeachment of corrupt State officers, the right to fire civil servants, no government "investment" in shovel-ready BS, only actual infrastructure, a prohibition against defaulting on the national debt which required a 2/3 vote to incurr in the first place, after budget origination with the cabinet departments, a post office that by statute had to operate profitably, the States could issues their own money (i.e. no central bank monopoly), a ban on recess appointments of rejected nominees, a line item veto, only the States can move to ammend the Constitution, not the Congress critters, and it takes only 2/3 of the States to ammed, and my personal favorite -- "Every law, or resolution having the force of law, shall relate to but ONE subject, and that shall be expressed in the title"

Full redline-

http://www.filibustercartoons.com/CSA.htm

Thu, 05/09/2013 - 19:18 | Link to Comment malikai
malikai's picture

No, they don't.

Thu, 05/09/2013 - 18:06 | Link to Comment reader2010
reader2010's picture

Absolute power corrupts like there is no tomorrow. 

Thu, 05/09/2013 - 18:07 | Link to Comment Major Major Major
Major Major Major's picture

“Surely, comrades, you don't want [Mao] back?”

Thu, 05/09/2013 - 18:37 | Link to Comment New_Meat
New_Meat's picture

that is true, and is the price that the Chin must pay

Thu, 05/09/2013 - 18:47 | Link to Comment Major Major Major
Major Major Major's picture

Certainly the [Chinese] do not want [Mao] back; if not allowing great wealth disparity to form was liable to bring him back, then creating the uber rich must not stop.

Thu, 05/09/2013 - 18:12 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

Then again, it's probably difficult not to become a billionaire when the US gives you $3 trillion in treasuries. Look at all the ghost cities & infrastructure: they're burning the cash as fast as they can and there's still piles of it lying around.

 

"Family Trusts". Hmm, sounds familiar...

George Soros, the billionaire best known for breaking the Bank of England, is returning money to outside investors in his $25.5 billion firm, ending a career as hedge-fund manager that spanned more than four decades. Soros, who turns 81 next month, will hand back the money, less than $1 billion, by the end of the year, according to two people briefed on the matter. His firm will focus on managing assets solely for Soros and his family, according to a letter to investors. [source 2011]

 

Kings and Queens were created not by God but by men. Weird when it happens again.

 

p.s. China mining countries in Afghan, throwing $100 billion at it. NYT propaganda matrix TV highlights the terrible destruction of ancient Buddhas [by the way, this story is ancient, but NYT is rehashing it]. Comment: I wonder if JPM analysts going out there a couple years back is in any way related? Not that they have anything to do with Chinese money at all...

Thu, 05/09/2013 - 18:42 | Link to Comment New_Meat
New_Meat's picture

"... this story is ancient, but NYT is rehashing it]."

Probably just the Senior Editors and Editorial Directors just realizing that this action is a "cultural" "desecration".  We can be sure that they will investigate in the fullness of time.

- Ned

{next up: the EmmBeez wish to un-Pyramid the Pyramids and the Great Sphynks--Think of all of the stories that will be generated, might even get Art Bell out of his retirement}

Thu, 05/09/2013 - 19:08 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

Sadly not. Destruction of this ancient Buddist site was noted a long time ago:

 

A Chinese company digging an unexploited copper mine in Afghanistan has unearthed ancient statues of Buddha in a sprawling 2,600-year-old Buddhist monastery.

Archaeologists are rushing to salvage what they can from a major 7th century B.C. religious site along the famed Silk Road connecting Asia and the Middle East.

The ruins, including the monastery and domed shrines known as 'stupas,' will likely be largely destroyed once work at the mine begins.[Daily Mail 2010 - if they have the story, it's an old one]

 

So, yeah: unless the NYT has the slowest AP wire connection known to the world, this is getting used as ammo.

 

{remember when they nuked the memoryhole.org back in 2009? how they yearn for the days when microfilm was stored in crappy libraries and was oh-so-flammable. A Culture with A Memory you don't control is just so unfair!}

 

They're well aware of this: there's a few groups (some more accessible than others) that track the revisions to stories in papers like the NYT (in fact, to all online content). Stuff on Iraq etc often have up to twenty edits over time to alter the perception of people searching for old articles. i.e. Look for a story from 2002, you'll be seeing the 2013 acceptable version. It's crazy brilliant when you log them and track them, you get to see people writing the narrative fiction they want to be seen.

 

It's also a technique mentioned in a popular book somewhere. I think it was published in 1947 or 1949, but my sources keep changing, it's hard to get an accurate date. I've heard that history is now doubleplus good.

Thu, 05/09/2013 - 19:27 | Link to Comment Overfed
Overfed's picture

Ministry of Truth.

Thu, 05/09/2013 - 20:06 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

I know in my heart only China practices censorship or historical revisionism.

The NYT tells me that every day I read it, and when I read their archives from 2001, it tells me that too, so I feel good that we've always been correct.

 

China is not a Democracy and is evil.

America is a free Republic and good.

 

I like my narrative, it makes me feel good. But the other NYT article made me feel inadequate but they had an advertizement for a new product that I know will make me feel better. I love living in the free world, it makes me feel lucky and privileged to exist here and not there.

 

I hate the Chinese, they are bad. How lucky I am to live in the free world, and not China. Now I need to go buy that product the NYT suggested. I trust them. They are good.

Thu, 05/09/2013 - 20:18 | Link to Comment nmewn
nmewn's picture

You're conflating China (government) with Chinese (people).

Thu, 05/09/2013 - 20:22 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

.

Thu, 05/09/2013 - 20:27 | Link to Comment nmewn
nmewn's picture

;-)

Thu, 05/09/2013 - 18:08 | Link to Comment Jason T
Jason T's picture

???? (zhìfù gu?ngróng: To get rich is glorious!)

Bitchez

Thu, 05/09/2013 - 18:09 | Link to Comment Pairadimes
Pairadimes's picture

The politician who speaks of equality is actually talking about slaves and masters, with no interest in the former.

Thu, 05/09/2013 - 18:10 | Link to Comment Benjamin Glutton
Benjamin Glutton's picture

Really Z.H.? Every company in THIS(USA) Communist country was saved by the depositor bailout and you bother to post this!

 

I see deadbeat depositors bitchez!!!

Thu, 05/09/2013 - 19:31 | Link to Comment notquantumdum
notquantumdum's picture

There is a difference between a bankruptcy reorganization and a communist "nationalization" -- if only a bankruptcy reorganization had been what was done, but at least it was bailout loans paid back to the taxpayers with interest . . . that is, until they got to gm, solendra, aig, fannie, freddy, and a good number of others.

Thu, 05/09/2013 - 19:41 | Link to Comment Benjamin Glutton
Benjamin Glutton's picture

fuck off commie sympathizer!

 

Obama is a POS!

“We don’t punish or leaders, we just let them go off into the sunset. Often with billions of dollars.” – Larry Wilkerson May 9th, 2013 Larry Wilkerson, former Chief of Staff to Colin Powell UNDER BUSH: President Obama protected Bush/Cheney from criminal prosecution to protect himself: Wilkerson asks, “Our convictions? We tortured people. We committed war crimes.http://www.youtube.com/watch?feature=player_embedded&v=X5yDrw2wh6s#!
Thu, 05/09/2013 - 19:45 | Link to Comment notquantumdum
notquantumdum's picture

I can't support Obama, but I would call him a cronyist instead of a communist.  Or, at least, he is a European-Style socialist.  I guess they're all pretty terrible, either way.

Thu, 05/09/2013 - 19:47 | Link to Comment notquantumdum
notquantumdum's picture

And, by the way, Bush did the loans to the big banks.  Obama did most all of the failed loan bailouts, as I recall.  Or, did Bush preside over aig?

Thu, 05/09/2013 - 19:56 | Link to Comment notquantumdum
notquantumdum's picture

Obama's damn sure not much of a capitalist.

Thu, 05/09/2013 - 20:09 | Link to Comment notquantumdum
notquantumdum's picture

Did I actually read somewhere today that 80% of "green energy" recipients of taxpayer money went to big Obama budlers and supporters?  I thought I saw that somewhere.  Was it a credible source?

Thu, 05/09/2013 - 20:12 | Link to Comment notquantumdum
notquantumdum's picture

"bundlers"?

Thu, 05/09/2013 - 18:11 | Link to Comment WelfareFTW
WelfareFTW's picture

sheeple sheeple everywhere....

Thu, 05/09/2013 - 18:13 | Link to Comment Agent P
Agent P's picture

It's good to be the king.

Thu, 05/09/2013 - 19:17 | Link to Comment DeadFinks
DeadFinks's picture

Or the kong, in this case.

Thu, 05/09/2013 - 18:15 | Link to Comment Kiss My Iceland...
Kiss My Icelandic Ass's picture

"For a country, whose founder Chairman Mao once upon a time envisioned great wealth equality for all and a communist utopia, things sure have had a very capitalist ending."

I wouldn't say "capitalist". How about "oligarchic"? Like here in America.

Thu, 05/09/2013 - 18:15 | Link to Comment Tinky
Tinky's picture

"We make money the old-fashioned way, we earn it."

– John Houseman

Thu, 05/09/2013 - 18:19 | Link to Comment Killer the Buzzard
Killer the Buzzard's picture

HILARIOUS N. KOREAN PROPAGANDA ON THE U.S.A.  ENJOY!!

http://youtu.be/YfJqbbkZaZ4

 

Thu, 05/09/2013 - 18:19 | Link to Comment ShakaZulu
ShakaZulu's picture

I lost interest in this article after I read she was married...

Thu, 05/09/2013 - 19:20 | Link to Comment Tinky
Tinky's picture

It's worth noting that Kong Dongmei is an anagram of doggone mink, as in:

"Hey, this doggone mink was stored improperly! Off with the furrier's head!"

Thu, 05/09/2013 - 18:29 | Link to Comment Precious
Precious's picture

More than enough to pay for her grandchildren's re-education.

Thu, 05/09/2013 - 18:30 | Link to Comment Smegley Wanxalot
Smegley Wanxalot's picture

 

And yet ... there are still people who trust govt.

 

 

Kong Dong Shee is a bangkok ladyboy.  (I think)

Thu, 05/09/2013 - 18:35 | Link to Comment alfred b.
alfred b.'s picture

 

WORST.....she may only be a runner-up to our politicians!!

 

Thu, 05/09/2013 - 18:36 | Link to Comment New_Meat
New_Meat's picture

"some animals are more equal than others"

Thu, 05/09/2013 - 18:36 | Link to Comment youngman
youngman's picture

Obama will make about the same when he is done with his term.....then off to the speaking engagements for cash..big cash...and of course big donations to his glorius Library....probably a book and movie deal....much fame and fortune for the ONE

Thu, 05/09/2013 - 18:41 | Link to Comment cheetahbaby
cheetahbaby's picture

I am thinkin' she has the "zacklies".... CB

Thu, 05/09/2013 - 18:50 | Link to Comment Peter Pan
Peter Pan's picture

Actually I don't see a problem with her wealth. At roughly 50c per Chinese person, she still comes a lot cheaper than some Wall St squid.

 

But three illegal children? She should be using a Kongdom.

Thu, 05/09/2013 - 18:53 | Link to Comment Downtoolong
Downtoolong's picture

Capitalism of supposed Chinese Communists is only eclipsed by Communism and Socialism of some so-called U.S. Capitalists. 

Thu, 05/09/2013 - 18:53 | Link to Comment lolmao500
lolmao500's picture

China is like America. A bunch of well connected thugs get to rape financially and steal money from the taxpayers for decades... then the MSM will lick their boots and say how great they are... And a big percentage of the sheeple will actually BELIEVE IT and WORSHIP THEM...

Fucking stupid humans...

Thu, 05/09/2013 - 19:02 | Link to Comment Dull Care
Dull Care's picture

She didn't build that!

Thu, 05/09/2013 - 19:04 | Link to Comment notquantumdum
notquantumdum's picture

And to think . . . CNBC appears to be currently covering hockey in my area.

When did CNBC start covering sports?

Thu, 05/09/2013 - 19:08 | Link to Comment notquantumdum
notquantumdum's picture

"All animals are equal but some animals are more equal than others."  --Animal Farm, Orwell

Thu, 05/09/2013 - 19:09 | Link to Comment Bastiat
Bastiat's picture

S shouldn't she be marched down the street with one of those stupid signs around her neck?

Thu, 05/09/2013 - 19:14 | Link to Comment reader2010
reader2010's picture

Free Trade!!!!

here is the answer: 

Room in exchange for services (52nd and can buren)

http://phoenix.craigslist.org/evl/roo/3794971850.html

Thu, 05/09/2013 - 19:16 | Link to Comment Fuku Ben
Fuku Ben's picture

If that was NYC I'd suspect it was just another sting by bloombergs brownshirt wasting taxpayer money on the police state

Thu, 05/09/2013 - 19:14 | Link to Comment Fuku Ben
Fuku Ben's picture

When's the next cultural revolution taking place?

Thu, 05/09/2013 - 19:16 | Link to Comment Divine Wind
Divine Wind's picture

 

 

Another byproduct of the Chinese one child policy is a serious shortage of women.

As China is historically an agrarian society, males are/were preferred as they were most useful in the fields.

Same holds true to this very day.

Think "The Game" is tough in the U.S.?

 

 

Thu, 05/09/2013 - 19:30 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

Note that she has 2 daughters and a son.  More equal.

Thu, 05/09/2013 - 20:07 | Link to Comment grimey
grimey's picture

"I do not agree with the view that to be moral, the motive of one action has to be benefiting others ... Morality does not have to be defined in relation to others ... People like me want to ... satisfy our hearts to the full, and in doing so we automatically have the most valuable moral codes. Of course there are people and objects in the world, but they are only for me".

Who said it, Mao Tsedong or Ayn Rand? You have to admit, objectivists, Mao worked hard for his paper, if you dont like it go back to Sweden

Thu, 05/09/2013 - 20:09 | Link to Comment grimey
grimey's picture

p.s. i'm trying to get to sweden if anyone's headed there this weekend

Thu, 05/09/2013 - 20:26 | Link to Comment notquantumdum
notquantumdum's picture

And . . . sorry, if I didn't quite get your humor at first.

Thu, 05/09/2013 - 20:20 | Link to Comment notquantumdum
notquantumdum's picture

I think rule-based utilitarianism works a lot better.  See John Stuart Mill.

Cronyism -- which is almost if not certainly always what socialism devolves into in the long-term -- does not help the "People", it makes the elites more powerful than the rest.  ('And, increases the disparities of wealth, income, and power.  Pay attention.)

Thu, 05/09/2013 - 20:21 | Link to Comment JR
JR's picture

In 2001 she founded a book store in Beijing selling publications about Mao and promoting "Red Culture" after studying at the University of Pennsylvania in the US.

Two important movements have existed on this planet for centuries: freedom and tyranny.  And our university system has been commandeered by proponents of the latter.

Ironic isn’t it that Mao‘s granddaughter was schooled at the University of Pennsylvania and she then returned to China to promote “Red Culture.” And if our American universities have their way, Kong Dongmei will soon be back on shore teaching revisionist American history –as many with communist ideologies already are.

Try hunting down Communists in America’s emerging socialist regime and you’ll sign your death warrant just as did Joe McCarthy - with your name dragged through the mud by our collectivist-loving media.

In 1953 McCarthy had caught onto the New World Order and was gunning for it, targeting such people as William P. Bundy who began working for the CIA in 1947, and in 1951, after quitting Covington & Burling, was openly working for the CIA as an analyst, and then, as assistant to the deputy director of the CIA.

When subpoenaed for questioning for contributing to help the communist spy Alger Hiss in his defense, he was going to be arrested by the State Department at the dock as he was trying to escape, when Allen Dulles, CIA director, came to his aid by getting the State Department to call off the arrest, and Bundy sailed.

Commenting on his help from Dulles throughout the Hiss affair,  Bundy said:

“I guess there was an element of tribal loyalty in the way Allen handled this, that he knew me, he knew my brother, a sort of fellow feeling—a feeling for the comradeship of the CIA, but also a tribal feeling toward a set of people who were in law firms, entered government when the need was felt, and could be invited back to the house.”

The billionaires intend to rule the world  by the use of communism - which explains why some of the world’s wealthiest people finance Socialism and Communism, and continue to undermine American free enterprise.

Fabian socialism, i.e., Keynesianism, and communism have the ultimate same goal – one world governance. Fabians such as H.G. Wells wrote on the New World Order with such books as The New World Order, A Modern Utopia, The Open Conspiracy; Blue Prints for a  World Revolution.

As has been charged:“Communism pretends it is the enemy of the rich capitalists, but both the rich elite and the communist leaders are committed to wipe out Christianity, to wipe out free trade with monopolies, and to set up One-World-Government.”

David Rockefeller spilled the beans in the NYTimes 8/10/73: “Whatever the price of the Chinese Revolution, it has obviously succeeded not only in producing more efficient and dedicated administration, but also in fostering high morale and community of purpose. The social experiment in China under Chairman Mao’s leadership is one of the most important and successful in human history.” 

Thus, new-world-order advocate, Henry Kissinger, sat down with Chairman Mao in 1970 to discuss opening up China back when America was at the peak of its power, and the international bankers proceeded to export America’s manufacturing base and capital to China, i.e., America’s strength, to Communist ideologues

In 2011 as the Communist Party of China confidently celebrated its 90th anniversary, Kissinger was back in Beijing passing the baton of global leadership on to his hosts. Opening a conference of China's most important think tank on globalization, Kissinger compared China today to the U.S. in 1947…

This pretense in America that business, banking and economics knows no boundaries and can be equated in China with America’s former capitalist system is foolish and dangerous. And deadly.

Thu, 05/09/2013 - 20:51 | Link to Comment Moe Howard
Moe Howard's picture

The Birchers were and are right.

Thu, 05/09/2013 - 20:52 | Link to Comment smacker
smacker's picture

Nice piece JR.

You neatly articulate something I've been saying for years: that just because a person (or corporation, a political party or even a govt of the United States) appears to support, is involved in market capitalism or is wealthy, does not make them a free market capitalist and supporter of personal liberty or anything else. As you allude, there are plenty of examples of wealthy people supporting various heads of the socialist/communist/fascist snake to achieve their goal of global domination, where free market economics will not get a look in.

It's way past time for millions of people to wake up and smell the coffee.

Thu, 05/09/2013 - 21:33 | Link to Comment nmewn
nmewn's picture

Plus another one.

Fri, 05/10/2013 - 04:01 | Link to Comment Colonial Intent
Colonial Intent's picture

OOer missus call out the red guard.......

Thu, 05/09/2013 - 20:35 | Link to Comment smacker
smacker's picture

"...and where preaching equality for all is merely a means to achieve great wealth for yourself..."

So true. This is socialism, communism and all the other great scams followed and preached by those on the Left of politics.

And yet people still vote for it in droves.

Thu, 05/09/2013 - 21:16 | Link to Comment notquantumdum
notquantumdum's picture

It's just so easy to feel a certain way without really doing any thinking.

Thu, 05/09/2013 - 20:38 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

The only way Mao could've improved on this, is if he and his 11 closest pals had started a dynasty of 12 families, with each starting a Tribe. But they'd need a timeless bond that lasted millennia. Like a deity and a religion that said that They are the best.

That's how I'd play it, if I were Mao.

Thu, 05/09/2013 - 20:48 | Link to Comment williambanzai7
williambanzai7's picture

You know the fog is so bad in Hong Kong this week, that the billionaire Chinese tourists are having a hard time navigating between gold dealers and LV stores.

Thu, 05/09/2013 - 21:22 | Link to Comment Zero-risk bias
Zero-risk bias's picture

On my way to do a little shopping next week, mostly just food and decent shampoo, hopefully it's not all gone when I get there. So, I won't need to pack the sun-screen? Maybe some flares?

Thu, 05/09/2013 - 20:47 | Link to Comment backwaterdogs
backwaterdogs's picture

i'd hit it.

Thu, 05/09/2013 - 21:21 | Link to Comment MoneyChasingReturns
MoneyChasingReturns's picture

ALL ANIMALS ARE EQUAL
BUT SOME ANIMALS ARE MORE EQUAL THAN OTHERS.

The Seven Commandments:

  1. Whatever goes upon two legs is an enemy.
  2. Whatever goes upon four legs, or has wings, is a friend.
  3. No animal shall wear clothes.
  4. No animal shall sleep in a bed.
  5. No animal shall drink alcohol.
  6. No animal shall kill any other animal.
  7. All animals are equal.
Thu, 05/09/2013 - 21:28 | Link to Comment W T F II
W T F II's picture

Maybe she is an excellent high-stakes Baccarat player and 'won' the money fair and square...??

Thu, 05/09/2013 - 22:41 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Bar-B-Que Back-o-Rat new JKC menu item this week deliciously.

Thu, 05/09/2013 - 21:31 | Link to Comment MoneyChasingReturns
MoneyChasingReturns's picture

As an individual you either prosper in wealth and freedom, or in being hidden and poor.

Being a middle class debt slave who does not have the courage to change countries; is like the Texans call: Big hat, no cattle.

Anyone can arrive a Jew is Israel and get full financial help and instant citizenship, a travel document in 3 months and paid housing and supplimentary income. They even cover airfare.

Any American can hitchhike to Texas where there are no state income taxes, and strong homestead laws. Any healthy individual can find good work there.

Any American can arrive in Germany and get residence and free University education.

People are about talking and complaining, those who don't talk are too busy taking action.

Big Hats, No Cattle seems to be common.

Be happy, no need to complain about the wealthy Chinese. They worked hard to get where they are and use thier connections, those who complain followed the path of the masses. Being average sucks!

Fri, 05/10/2013 - 06:20 | Link to Comment Lebensphilosoph
Lebensphilosoph's picture

Be happy, no need to complain about the wealthy Chinese. They worked hard to get where they are and use thier connections, those who complain followed the path of the masses. Being average sucks!

 

You conveniently left out the part where they murdered 40 million human beings.

Fri, 05/10/2013 - 01:19 | Link to Comment Monedas
Monedas's picture

And the scum socialists bitch about Queen Elizabeth's soft boiled egg and one slice of dry toast ?

Fri, 05/10/2013 - 03:56 | Link to Comment Colonial Intent
Colonial Intent's picture

We bitch about the bitch coz we is paying for her fat ass, royalty is the ultimate snap card, you know all about genetic superiority dont you, you is descended from akhenaten himself.

Fri, 05/10/2013 - 06:16 | Link to Comment Lebensphilosoph
Lebensphilosoph's picture

Sounds like a very Communist ending to me.

Fri, 05/10/2013 - 11:38 | Link to Comment Vin
Vin's picture

HAHAHAHAHAHA!  It's almost the same thing as the KGB taking over all the resources of Russia for pennies on the dollar.  Communism and Fascism are very close relatives.

Fri, 05/10/2013 - 16:21 | Link to Comment BinAround
BinAround's picture

Communist doctrine is simply a diversionary cloak that enables a gang of thugs to steal, rape and pillage.... not for "capitalism" but in the name of egality.  The coffee house socialists that actually still flourish today in North America, still belive the bullshit that communists are the friends of the people.   With friends like that, who needs organized crime?   

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