The China Narrative That Really Matters
Submitted by Ben Hunt via Salient Partners' Epsilon Theory blog,
Most directly on the topic, read "When the Story Breaks". It's a quick read and introduces an Epsilon Theory perspective for how to think about China.Most recently on the topic, and why the Chinese currency devaluation kicks US equity markets right in the teeth, read "Storm Warning".Most fundamentally on the topic, and why the Chinese currency devaluation is an existential issue for the Beijing regime, read "The Dude Abides: China in the Golden Age of Central Bankers".There are other notes on China if you're so inclined, including: "The Donkey of Guizhou", "Rosebud", and "The Power of Why, Exhibit 4,512 in a Continuing Series".For a related note on the overall Emerging Market story, read "It Was Barzini All Along". For an Epsilon Theory perspective on oil prices, read "The Unbearable Over-Determination of Oil".
"This is a completely different Narrative than the growth story, and it’s the story that one-party States rely on to prevent even the thought of a viable political opposition. In highly authoritarian one-party nations – like Saddam's Iraq or the Shah’s Iran – you’ll typically see the competence Narrative focused on the omnipresent secret police apparatus. In less authoritarian one-party nations – like Lee Kuan Yew’s Singapore or Deng Xiaoping’s China – the competence Narrative is more often based on delivering positive economic outcomes to a wide swath of citizens (not that these regimes are a slouch in the secret police department, of course). From a political perspective, this competence Narrative is THE source of legitimacy and stability for a one-party State. In a multi-party system, you can vote the incompetents (or far more likely, the perceived incompetents) out of office and replace them peacefully with another regime. That’s not an option in a one-party State, and if the competency story breaks the result is always a very dicey and usually a violent power transition."
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We don't need no stinkin' 'narratives'
Yeah my wife has dog breath in the morning it is like her arse grew teeth.
My wife's cooking is so bad, that when I feed it to my dog, he licks his ass just to get the taste out of his mouth.
European and I'm a Putin
"I'm a China bull, let's get that out of the way first."
I stopped reading.
How about a better narrative.....
Happy Roy Batty inception date Bitchez!
http://www.telegraph.co.uk/film/blade-runner/roy-batty-birthday-inceptio...
Nowadays any economy anywhere is politically driven and the narrative is really all they have. Entropy is ignored and common sense is illegal, so party on while the ship sinks, because the government will save us......
Chinese government is far, far more competent than the US government. They'll have a much easier time extricating themselves from deflation, than the US will from hyperinflation.
Prehistory
Main article: Chinese prehistory
Archaeological evidence suggests that early hominids inhabited China between 250,000 and 2.24 million years ago.[33] A cave in Zhoukoudian (near present-day Beijing) exhibits hominid fossils dated at between 680,000 and 780,000 BCE.[34] The fossils are of Peking Man, an example of Homo erectus who used fire.[35] Fossilised teeth of Homo sapiens dating to 125,000–80,000 BCE have been discovered in Fuyan Cave in Dao County, Hunan.[36] Chinese proto-writing existed in Jiahu around 7000 BC,[37] Dadiwan from 5800 BC to 5400 BC, Damaidi around 6000 BC [38] and Banpo dating from the 5th millennium BC. Some scholars have suggested that Jiahu symbol (7th millennium BC) was the earliest Chinese writing system.[37]
I agree, they have been around, as a people, and as a civilization for a very long time...
Bullshit! The Earth is only 6000 years old.
See page 642, section B paragraph C of the Bible if you want proof.
Plus, the Chinese don't look anything like God! God was a 6' tall white man! The Chinese, and all other non-true-whites (don't get me started on non-white people), are just errors God made while trying to make man in his TRUE image..like God making the Devil...sometimes creation just doesn't go 100% right...you people are so ignorant.
Oh, and Jesus was NOT brown! He was White like God! He may have appeared Brown, but that's only because the intense sun tanned him that perfectly roasted turkey color.
Sources on the internet claim it is flat too!
The Earth is a flat circle! Look at any picture from space and it's easy to see. Also, if you look at imagery from probes looking back at the Earth, the Sun is not the center of our solar system! All of this "Science" stuff is pure bunk!
yeah, but is it a particle or a wave?
It depends on who is observing.
yeah, cause you can get arrested for that you know
Oh I know. Apparently it is far more legal to experiment with the observer effect on particles as opposed to looking in the window of your neighbor that used to be a male underwear model.
I am pretty sure that one was wave function. ( ;
but infinitly less fun, if its a female model. it a wonder every 13 year old boy back in the 60's isn't on the sexual predator list now. oh for a glimpse. jeez, we use to look forward to the sears catalog back in the day. i remember 1969 when sears went to glossy full color. wow, just wow
<=== UP for cat be alive
<=== DOWN for cat be dead
Your vote will make it so.
the Heliocentric Model imposed upon us from birth looks quite the impossible contrivance:
https://www.youtube.com/watch?v=H7WyrIZzyPY - this is the Morgile's quick 15min
presentation on what the Heliocentric Model requires one to accept - after watching, if you're still a Heliocentric supporter you'll probably be doing impossible conniptions in your brain to try to still make the math work.
Spinning balls, all - the Sun, the Earth, the Moon, all the other so-called "Galaxies" ... the simplest deduction reveals the fallacy of the heliocentric model. In that model, we are supposedly orbiting around the sun - our winter period is supposed to be way opposite the sun from where we were in summer. Think about how for eons we have the same star patterns above our heads, year after year. Yet we're supposed to be travelling billions of miles a year around a mysterious "Galactic Center" - and yet our star/plane t patterns remain the same.
NASA announced recently they are quitting the fake Space Station, as it's now far too obvious to far too many people that it's fake. Time for a new game.
Can anyone answer why the Pope said on Christmas day that this might be Christians last year to celebrate Christmas ?
"Plus, the Chinese don't look anything like God! God was a 6' tall white man!"
I saw the painting in a magazine!!
i must have seen a different magazine, in mine he was the same but sitting in a big chair. like the lincoln memorial
obviously from the reds some people don't get sarcasm without the tag...
What the fuck do you mean by that?
Poe's Law covers that.
https://en.wikipedia.org/wiki/Poe's_law
Nine millenia of fire drills and all-you-can buffets, oh and nearly five decades of attempting an end-around of the American middle class via the "China is democratizing and consumerizing" narrative and the re-framing of the old slavery picture. But this guy says the story is more important than the reality. Well, maybe to some, and good luck with that.
Around for a long time, gone through many of the exact problems plaguing the Chinese and global economies right now, yet learned nothing... Incompetence, the bane of empires and dynasties from time immemorial.
I have to guess the Chinese gov skim is even worse than that of the USA.
Homer Simpson 1 vs Homer Simpson 2
Not so much> China's debt ratio stands at more than 240%, or 161 trillion yuan ($25 trillion), according to calculations by The Economist.Oct 24, 2015.
I won't even go into non-performing loans.
What happens when the US government also 'has to make a political move'?
Our Israeli-Neocon masters have the initiative. We should take that from them.
I have been watching Sibel Edmonds, read her book a few years ago. The corruption is very deep, very systemic. The US Military and CIA are the heroin distributors to the world, and that has infected Congress. Dennis Hastert was a long-time pedophile, took $ from the drug lords and foreign powers, got off scott free because the entire system is corrupt. FBI, CIA, ... all very un-lawful.
https://www.youtube.com/watch?v=2XvXMyVt5GA
Time to bang on pots and pans, I think.
Whaddya mean 'all very unlawful'?
Hollywood assures me that they are all honest, decent, law-abiding supermen and veritable Iowa Monsanto-corn-fed Ubermenschen.
Now you tell me they've all Broken Bad, into Uberaffen? Who could seen this Narrative of "Power corrupts..." coming?
So is the ChiCom Stock Market like their shitty food?
Just send Krugman over he'll fix it
I always just figured that the federal reserve banking system's process of "transitioning" required the newly captured country to do what ever the hell it wants which may include handing your media over one step at a time to assholes like Murdoch. Apparently China isn't entirely going along with the transitioning process and the bankers well make up whatever meme they choose to explain their eventual retaliation.
this is crap. we have only one party in the usa. the maggot party. we can't vote the incompetents out because they aren't incompetent. they are OWNED.
Yeah, this guy revealed just how big of an idiot he is when he started spewing that garbage.
hey "china bull" loser, get that "risk antennae" and shove it where the sun don't shine.
The kidnappings [assisted investigations] will continue until further notice...
Sincerely,
Xi Jinping
Didn´t just another chinese billionaire disappear?
I don't know what's going on but one has to wonder if these billionaires are not part of a subversive contingent that they are trying to purge.
Grasshopper, do you NOW understand why so many Chinese are setting up their Plan B homes in Vancouver/Hongcouver?
They don't fuck around over there...we should deport Soros to China...
Wicked men, you face the Tick!!
If China wanted worldwide awe, they would stomp a six foot mudhole in DNK and erase the queery little runt.
So, China is going to have to go back (or did they never stop) to their human rights abusing tactics to keep the people in line?
The hubris of control never gets old.
It's an ILLUSION that you control anything. I have to tip my hat to native American's who said this:
Where White Man Went Wrong
Indian Chief "Two Eagles" was asked by a white U.S. government official, 'You have observed the white man for 90 years. You've seen his progress, and the damage he's done."
The Chief nodded in agreement.
The official continued, "Considering all these events, in your opinion where did the white man go wrong?"
The Chief stared at the government official then replied, "When white man find land, Indians runnning it, no taxes, no debt, plenty buffalo, plenty beaver, clean water, women did all the work, Medicine man free. Indian man spend all day hunting and fishing; all night having sex."
Then the Chief leaned back and smiled, "Only white man dumb enough to think he could improve a system like that."
Well it seems the Chinese are white too.Yes, yes you should read about the unscrupulous, greedy fools leading the gullible buffoons... and my story of the Queen's necklace :
The Commodities of Cathay and how they vanish (or melt).
The size of the corruption is on a massive scale.Communist Party hacks and their connections all running Government Corporations.Anybody that believes any numbers coming out from these F'n crooks needs their head read.This where all the politicians in Washington shipped all the good manufacturing jobs to.They got the idea that Communists would fund their deficit war spending.Low life scum like John McCain and his NeoCon followers behind the financial scam to destroy America.He's a traitor.
I find it amusing the west news media blame thier economy on China. Hmmm chinese market goes down and its blamed for crashing the dow. Then our news media talks of the corruption surely its not here. So lets let the cards fall are we saying China is the main economy in the world today. Our politicians are actually out for our interest and these to big to fail bankers are completely honest.
I read, sorry for digressing but that Poland a Nato like country just took over its media and the EU says well its not a big deal. Everyday its like the West and East are trading sides. The west is moving to the old USSR mode and the East is becoming more capitalistic.
I think this China Narrative is spot on. Trying to embarras China globally has backfired and I truly believe when they decide to back thier currency with gold what the Murdoch BS news will spin. The real fact is the western banks are nearing collapse becuase of thier own corruption. China has nothing to do with it.
I find it amusing the west news media blame thier economy on China. Hmmm chinese market goes down and its blamed for crashing the dow. Then our news media talks of the corruption surely its not here. So lets let the cards fall are we saying China is the main economy in the world today. Our politicians are actually out for our interest and these to big to fail bankers are completely honest.
I read, sorry for digressing but that Poland a Nato like country just took over its media and the EU says well its not a big deal. Everyday its like the West and East are trading sides. The west is moving to the old USSR mode and the East is becoming more capitalistic.
I think this China Narrative is spot on. Trying to embarras China globally has backfired and I truly believe when they decide to back thier currency with gold what the Murdoch BS news will spin. The real fact is the western banks are nearing collapse becuase of thier own corruption. China has nothing to do with it.