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Head Of China Sovereign Wealth Fund Voices Displeasure With China's Debt Slaves, Calls Europeans "Lazy" And "Entitled"
Two weeks ago, Marc Faber provoked the fury of a broad segment of the population by daring to tell America that it is lazy, needs to work more, and is overly-reliant on a welfare government which is an eager parasite of the welfare system cocoon in which it has wrapped the majority of the population knowing full well it can get away with anything due to threats it can pull the (otherwise insolvent) social safety net at any given moment if the status quo is threatened. Needless to say, European readers were delighted and amused by Faber's statements. We wonder, then, what the US (and correspondingly, European) response will be to the news that last week it was the turn of Jin Liqun, chairman of the China Investment Corporation (CIC), the sovereign wealth fund all too often (by the overeager European media) tasked with bailing out, to channel Faber: "Europe is not really short of money. Europe needs to give a clear picture to the Europeans themselves and to the rest of the world that their problems could be worked out. The root cause of the trouble is the over-burdened welfare system, built up since the Second World War in Europe - the sloth-inducing, indolence-inducing labour laws. People need to work a bit harder, they need to work a bit longer, and they should be more innovative. We (the Chinese) work like crazy." Translation: China is finally announcing that it is unhappy with the work output of its debt slaves. And since China, courtesy of its trade surplus or something, will sooner or later also have to apply the same bailout hypermathematics which indicate that despite having to bail out its own banking system it can bail out the world, expect comparable announcements about its latest shipment of debt slaves situated conveniently between the Atlantic and Pacific oceans.
More on Liqun's displeasure with his subordinates via the Telegraph:
"European countries have a lot of advantages. They just need to tap these advantages and they will be back on their feet."
This is not the first time Mr Jin has aired his views on the inner workings of Western economies.
Last month, at a forum organised by The Economist magazine, he said he was "concerned about the unravelling of the situation" in Europe.
He told guests he was "sorry if I have ruffled feathers", adding: "China cannot be expected to buy into high risk in the eurozone without a clear picture of debt work-out programmes."
Mr Jin, a graduate of Boston University, was formerly China's deputy finance minister and vice-president of the Asian Development Bank.
He is now chairman of CIC, China's sovereign wealth fund, which has a budget of around $300 billion.
And further clarifying what Liqun meant, especially with the sloth reference, here is JPM's Michael Cembalest with some very provocative insights:
For the benefit of our urban clients, a sloth (megalonychidae) is a slow-moving, tree-dwelling animal that sleeps 15 hours a day and is covered in beetles. There are many ways to react to this: a wake-up call for the West; an unfair diatribe, given China’s currency intervention which arguably contributes to the economic challenges facing the US and Europe; or a reflection of inevitable wage convergence, driven by 2.6 billion people in China and India entering the global workforce after decades of self-imposed isolation. Whatever the truth is, Jin’s comments seem in sync with other Chinese assessments of Western fiscal policies (see August 6th article in Xinhua: “China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China's dollar assets.”).
To stress-test Jin’s assertion, we recreated a chart from Eugene Steuerle, former Deputy Assistant Treasury Secretary for Tax Analysis, now with the Urban Institute. He calls the chart a measure of “fiscal democracy”: the degree to which Congress can spend revenues not already committed to mandatory programs. In 2009, for the first time, all US government revenue was pre-committed to mandatory spending (social security, healthcare entitlements, farm subsidies, unemployment insurance) and interest. After a brief rise over the next couple of years (due to projected declines in unemployment insurance), it is estimated by the CBO to fall back to zero again. The chart confirms the post-war shift to a more entitlement-heavy economy, a shift former U.S. Comptroller David Walker describes as crowding out the kind of productive discretionary spending needed for the US to compete against China and India.
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Why did he leave the US out of this?
Well at least he cannot call Noda "lazy". Yen intervention will occur soon. About to breech 76...
Because he needs to find stupid buyers for those Treasurys first.
I would say this goes a bit further than treasuries. The Chinese still need the Americans to do some more dirty work in Africa.
Very Astute observation LOP. Very hard to tell, in this maze of levers, who is pulling whose, eh?
ORI
Omens and Nuclear Echoes Coming Up
OK! OK!!... I GET IT!!! THE SKY'S GONNA FALL!!!!! SO WHO CAN GIVE ME EXAMPLES OF SPECIFICS OF WHATS GONNA HAPPEN. LIKELY MODELS? HISTORICAL EXAMPLES? POSSIBLE SCENARIOS? I'M NOT LOOKING FOR A WITTY DRIVE-BY COMMENT AND THEN ON TO THE NEXT THREAD, BUT REAL ANALYSIS OR A LINK TO THAT ANALYSIS.
Let's start with turning off caps lock and going from there, mmk?
Hard to tell which is the hardest among asking :
Thanks for this Tyler.
China has the power to break America by dumping treasuries. I think if their real estate crash gets bad, they will panic and start selling treasuries. America can't bribe and blackmail the world into buying its debt while it has a free linch forever.
http://azizonomics.com/2011/10/18/china-hysteria/
"free linch"..., Freudian slip?
China might dump treasuries, blah, blah, blah.
That prediction ranks right up there with "Israel is going to attack Iran" for the most over-used, never-achieved prediction on ZH. In the words of Montgomery Scott "If my grandma had wheels she'd be a wagon"
No. The sky'snt gonna fall.
What is going to happen is known though, as it happens the same every time when expansionists reach that stage in expansion.
The exterior cant provide more expansion opportunities. The only place left to expand is toward the interior.
A new wave of colonization is taking place as the concentration of wealth and the not corresponding valuation of labour makes it less and less possible for people to affor living in the place the wealth is concentrated.
The Chinese is wrong. It is not a matter of laziness, of hard work or this or that.
It is simply that by concentration of wealth (smithian economics), some activities are being expelled from locations because the environment is too pricey to support the activity.
You dont perform greasy mechanics work in a Hilton suite.
Activity in smithian economics look for adequate environment. The west environment is no longer suitable to host many kind of activities. You can take a sweeper job to work on Park Avenue, but the sweeper job pay does not enable you to live on Park avenue.
It is the way it is.
Speechless..
Very good An Anon, thank you for adding value. The reality is, the end game for ALL is very bad in every country, the miscalculations and not factoring in the rate of business means the gaps can't be closed fast enough to avoid major war between three economic zones. Loss mitigation is the only strategy for individuals or individual governments. Each leader shall have many choices of lessers of evils to pick from. Best of luck to you and keep adding value.
We start by executing all those who type in ALL-CAPS, cause..well, you know.
It's called a debt-based social collapse. All western governments are flat-ass broke, but have made innumerable promises to take care of their citizens via cash payments. The ponzi has inverted in most of these countries; their governments have been reducing their fertility deliberately for years, and entire societies built on entitlement and guilt are seeing their populations collapse. The only end game is to pull the plug on the system, or to dilute the currency until it eventually becomes valueless. The .01%'s system of looting through debt has imperiled everything within their sphere of influence.
This sums it up well put. The whole thing is about demographics. The best ponzi in the world can't have one tax payer pay the way for two elderly. If they wanted to keep the welfare state going they should have been having more kids otherwise what you get is a bunch of old people and not enough workers to pay for it all. There's nothing that can be done about it. Unless there's a massive baby boom across europe right now there's going to be a demographic correction within two decades. That's not going to happen and the old are fucked and the governments took most of their money through taxes assuming the social safety net would still be there. It's not going to still be there and there will be a huge portion of the population dependent on the system.
There's three possibilities of what could happen; the ponzi collapses and millions suffer especially the old, a fanatical purge of "useless eaters" to protect the ponzi even more millions suffer, or people become self sufficient before the ponzi collapses and not as many will suffer. It's real bad.
Welcome to National Socialism circa 1933. Kristallnacht anyone? Except this time it'll be the 99% worldwide. The 1000-year Reich won I'm sorry to say...
A four dimensional Reich empire is only capable of sustainability with 4d tools. If a Quantum Computer existed today it would merely tell you the best game is not to play (at least at this level).
Your witnessing the continued collapse of the global financial system. It is actually bad news for all and nor can it be solved with pyramiding up before major hostilities break-out.
I view my entire line of work as attempting to reduce the physical loss of life from 50% to zero, although predictability tells me we will land somewhere in the middle, 35% casualties. Better to be willing to die for all then die for being led off a cliff and fight for East or West titans. I do feel very optimistic for the high time that comes afterward. I am not exactly the martyr type either. I intent to survive through it to see the other side.
If? Quantum computers do exist.
Super computer predicts revolution
http://www.bbc.co.uk/news/technology-14841018
This particular computer isn't quantum but the technology does exist.
Quantum computing device hints at powerful future
http://www.bbc.co.uk/news/science-environment-12811199
This is what they give us for public consumption. Considering that the military has kept technology secret in the past only the tell the public about it years even decades later there is a real possibly that they do have fully functioning quantum computers.
Quantum computing is so overhyped that it isn't funny anymore. People think of it like "magic" without understanding what it even means.
Wake me up when they replaced "circuit boards".... THAT's gonna be the breakthrough, not quantum computing, as cool as it's name may sound (quantum computing could - if only they could produce it cheaply - massively increase memory capacities.... but it's potential regarding speeds, are much less impressive.... MUCH less impressive than you imagine).
Call me crazy, but when I want examples or possible scenarios I do the research myself and draw my own conclusions.
If you want someone to do you a favor, YELLING AT THEM IN CAPS is not the recommended method.
(Witty drive-by comment mode off)
+1 for witty drive-by commentary.
reverse psychology is the inverse of pi^ which can't be eaten sliced, or diced, but only swallowed whole with the core thesis mired in dual ambiguity
If you need to ask for historical examples, well, you are just too late to the game. Good luck.
Not hard to tell.
The predatory US is performing its dirty work for nobody than itself as it is a US world order but can not control fully who is going to eat carrions.
China is a scavenger. They've developed on the side, eating what the US could not eat.
perhaps he'd like to compare CHINA's innovation to Europe's....who stole whose high-speed rail and whose crashed and is now effing mothballed due to the fact it is a complete piece of shit?
Train crashes happen everywhere.
The Chinese train is quite impressive though.
It is US citizen mind like Fukushima accident. Chernobyl has to be worse not because it is worse but it is the symbol of USSR. USSR did not get its stuff right.
US citizens like Japanese do that stuff right. When they fail, if they fail, it is always on a smaller scale.
Another string in US cheap propaganda and Japanese will follow US citizen common procedure: export their radioactive shit onto a third party to claim nothing went wrong.
let's not get all patriotic here - after all who originated 'yellow journalism'?
urine is yellow. does that count?
Just curious, AnAnonymous, what country do you live in? I have a suspicion that you are a robotic troll algorithm that has gained sentience.
Ever see an Asian in Casino?
That shit can get INTENSE. They have NO problem losing money.
asian home owners always try to fix something that goes broke in their houses. then when they can't fix it, they call someone else to fix up the mess they have created. also, when you get there, they want you to hurry up and fix it so they don't have to pay any extra time etc.........never fails.....
the dynasty familes still control china -
the yellow oligarch have been around since paper, gun powder, and sea faring navy's
China and India are the biggest thieves of intellectual property in the galaxy. If the great unwashed want to talk about innovation, that's a damn fine place to start.
shit you're so right.
I mean they stole:
1. the world map
2. paper
3. gunpowder
4. the printing press
5. the compass
6. paper currency
7. the seismometer
8. toilet paper
9. the wheelbarrow.
from the ummm... umm... Americans... yes, Americans, back in umm... ummm... 6th century AD.
Let's at least get into the twentieth century. Both countries flatly refuse to enforce copywrite or patent rights of the their trading partners. Digital theft has devastated the value of music and film libraries, and the criminal class at the top makes that easy.
Yes Kaiserhoff and now you have instutional investors showing up at ZH scratching their heads as to why the content isn't better.
"The predatory US is performing its dirty work for nobody than itself as it is a US world order"
It sure seems that way, doesn't it? The US is a tool. You have some time on your hands, check out the free audio stream at infowars.com. Alex Jones sees that our government is an agent of evil, but also knows it's not really our government, it's been hijacked.
I would say this goes a bit further than treasuries. The Chinese still need the Americans to do some more dirty work in Africa.
////////////////////////////////////////////////////////////////////
No. The US is predating for itself. Cant prevent scavengers from scavenging though.
An Anon, this is incorrect. The U.S. President Richard Nixon and U.S. diplomat Henry Kissinger deployed the Ping-Pong trading strategy with China in 1972. Trading relationships require financial framework - Central Banking. The Chinese readily welcomed the Golden Calf in. The Chinese people experienced an increased quality of life as the U.S. worker went down. The reason the U.S. does everybodys dirty work is because the U.S. is the global reserve currency. Part of the responsibility that goes with the privalages is protecting global trade. That does of course often entail violence, overt and covert intelligence operations.
The global reserve currency already exists, they are called SDR's. There were four deposits made from multiple Central Bank franchisees that begin around this same time as Ping-Pong strategy. I think the first one was $13B if I recall correctly. But three more have been made since. The Yuan is considered the new reserve currency but it has some natural and artificial limitations on the prize piece of the puzzle. Either way, what you see China doing is preparing new security arrangements with Western & Russian Financeers, though I must be careful with how much I opine about Russia, because I don't know nearly as much.
As this system finishes collapse, WW3 ends and the world is building next generation evolutions in banking, I can say for certainty that all currencies will float. It is the currency peg prize that leadership lose their heads over through greed and lack of periods of detente. The Chinese leadership played a great hand this time around in history but they also got too far ahead of themselves. I wish the people of China well, the citizenship were worked into near-insanity and this sucks. You already recognized Americans weren't lazy. What leadership could do is connect East/West citizenship together over the Internet now which will mitigate loss of life in war later. Both China and America remind of a spicy marriage. The love-fests periods are usually decent (except when imbalances purposely linger) but the lovers spats are brutal. But I don't see much long-term value in a bigger spat this time, however things can get out of control quickly.
People need to work a bit harder, they need to work a bit longer, and they should be more innovative. We (the Chinese) work like crazy." Translation: China is finally announcing that it is unhappy with the work output of its debt slaves...
We are working, we're working at exploiting Chinese labor. Chinee so smart. heh heh
And with all those worthless reserve currency dollars they make, they use to buy up commodities around the world, that in turn, are used to build up their infrastructure. While the USA gets a lot of worthless junk in return. Man, those dumb ass Chinese!
funny, that's probably what the maid thinks as she scrubs my toilet(s).
Your toilet(s), and the home they reside in, are about to be repossessed by your banker. The banker will then sell the house to the maid, and give her a visa.
hahahahahahahahaha!
hahahahahahahahaha!
hahahahahahahahaha!
:inhale:
hahahahahahahahaha!
hahahahahahahahaha!
hahahahahahahahaha!
you must be a pissant peasant too if you think along those lines.
hahahahahahahahaha!
hahahahahahahahaha!
hahahahahahahahaha!
:inhale:
hahahahahahahahaha!
hahahahahahahahaha!
hahahahahahahahaha!
Well, I can't argue with such a well thought out retort.
Your comment was worthy of more? I think not. Lick my balls and wipe my ass with your tongue while you're at it.
Well, if you can't argue a point, I guess it's time to allow the conversation to devolve.
Thanks, but no thanks, I'm not into gay sex. Enjoy the chinese made dildo sticking out of your ass.
closet case, i understand. killjoy.
Both of you boys calm down and eat some nice ice cream--Schweddy Balls flavor. That way everyone gets to lick something and you both can Chill.
http://www.benjerry.com/flavors/feature/schweddy/
This sums up the situation perfectly! "Enjoy the chinese made dildo sticking out of your ass."
do they make butt plugs too? i love those!
Keep it to yourself. Words elicit visualization... ehck.
for spartan177:
http://www.youtube.com/watch?v=EMnSpd0XRmo
She surely must, as she scrubs those toilets with...your toothbrush! (as 85% of maids do)
back to work slave.
yeah an "infrastructure" of irretrievably broken high speed rail, empty cities, polluting factories with no customers...what a GREAT investment!
China is working for FREE...even as volumes rise, profits go down.
And everything worked perfect in America's Industrial Revolution? You are a short-sighted bigot. Get lost.
http://www.youtube.com/watch?v=ISrbjr7kyr8&feature=related
Ours wasn't quite as centrally planned, or dependent on easy credit.
and wasn't trying to grow 9% after peak oil
China has that solid work ethic inducement:
"You no workee, you no eatee"
Wonderful motivator
In the west it is more like
"you no workee, here your SNAPee"
i feel so guilty eating bbq that i didn't have to work for. LMAO!
Don't. They have been handing out Gubmint Cheese since the last great "deleveraging". It is now part of amerika's historical record. Say, I have not seen Gubmint Cheese around ZH lately. Hope he is ok.
Huh?
http://cnbusinessnews.com/strike-hits-citizen-watch-plant-in-south-china/
Yeah, and this is happening in an eCONomy that has 9% growth. Not good.
Wonder if Apple will be next, wealth sharing, etc.
This just in...(mandarin) ants furious with grasshoppers. Go figure.
BTW, is it pronounced "gin lickin'"?
I, for one, welcome our new insect overlords.
Why should China bail out lazy Germans?
Answer: they will not. Not exactly that is.
Yes, China will fork out trillions of USD and Euros.
But it will do so in exchange of Europe's gold.
+ 1
That's what I would do if I were Boss of China.
Why should China bail out lazy Germans?
///////////////////////////////////
Because they cant.
If it was about money, it wont be a problem. US has a monopoly on USD, could add bitcoins as they wished.
The trouble is to know what those bitcoins are going to buy. Adding bitcoins is less and less likely to add resources as most of the world is now mapped for exploitation. No lack of investment but lack of places to invest. Bit different.
The world is being bailed out by commodities countries forced to accept USD/Euros in exchange of their commodities.
Europe does not need money to be bailed out, they need an increased input of resources, injection that can not be done because well, they are tapping into the world resources close to the max...
I pray for the day to come when China will cut off its lines of credit to Europe and USA.
they all come to america to get educated at our finest universities and then go home and trash us -
america's mnc's knew that their 'it' would get "knock-off's", but the trade-off was an offer they couldn't refuse -
technology is evolving along so rapidly that a product life is now only months -
what bothers me is when they get to the point of blatantly getting screwed-over royally, these same 'pos' u.s. mnc's will finally repatriate home thinking that their entitled to a 'tax-free-holiday' -
here's preying they get a stiff woody where the sun don't shine -
I am surprised you had three negative votes. I voted you up for I agree with part of your sentiment but let me add a couple of caveats:
1) You do realize that like any movement or trend, over-unionization by the 1970's drove out the capital overseas?
2) The trick now is to avoid the full effects of the pendelum in reverse and allow an Uber Fascist like Hitler or a well-meaning but misguded Communist like Lenin control policy. Revenge doesn't help - it exacerbates losses and wastes a shitload of everybodies time. I still see plenty too much in the form of tax policies. If you have to tax the middle class the real reasoning must now be mentioned.
3) Capital coming back shouldn't have carte blanche either but one thing is for sure, set the rules of the game and stop frigging changing them for awhile! Why do I have to wait until 2020 for the bankers to figure it out? ARE YOU SERIAL bankers!?!?!
4) The line should always be drawn on labor when our eight years olds can head off to work in the factories like the 1880's. And nor should Chinese citizens eight years olds doing that right now! Pay the people a living wage or reconsider growth paradigms.
5) Bribing governments big time is stealing. It also tells me as an individual you are too lazy or too stupid to compete so why are you running that Fortune 500 again? Confidence is important in capital formation, no? If any government group can steal from me at will it just might discourage me from innovation and production and instead, I must just heck out and follow the path of Budda. Or become like wacky Bill Ayers. Either way, volatility sucks for capital formation or in even serving it appropriately.
funny, I've never met a lazy German. is that a typo?
+1 that. And just wait until they REALLY get motivated and behind a cause again. That's when Shit Occurs.
For germans, it's not a matter of "motivation" - it's a matter of "i've accumulated so much frustration over time, thanks to my conformist mentality, that you better get out of dodge, because this ain't gonna be a racecar, but a truck".
They regarding unrest are pretty much the opposite of france, which will revolt at the least provocation... but calm down again just as quickly.
lazy and alcoholics. go over to the beergarden and you'll find the whole fucking town slacking it up.
Don't be too hard on China. I've lived there: they work a hell of a lot harder than do Westerners. And they SAVE money.
Can't say much for their governments, though. They're just as Keynesian, corrupt, incompetent, clueless, growth-driven, money-printing-mad and vote-buying as the rest of them...
"vote buying"?
You mean, there are free "bought" elections in China?
The Chinese are prudent they don't waste Billions on rigged elections they just tell you how it is in your face
Waste? Why I'll tell you those Madison Avenue folks work like crazy to create the facade of legitimate government. Without it, the whole Western world collapses.
In China you can vote for ONE party.
In the USA you can vote for one of the two arms (dem or rep) of the same party.
And some day 1.5 billion Chinese will realize generations of savings were devalued hopelessly because of authoritarian central planning and the cycle will reset....
I doubt the Chinese pour their savings into NFLX.
If there's anything that will fail more spectacularly than NFLX it's US Treasuries.
Hard work is nice..... Being able to build a boat that floats is nicer..... Or being able to drive a car.....
Some people just want to be slaves.
i love your avatar, but your comment more
OMFG LMAO....ROW peasants, ROW dammit!!
China realizes it's money is going down the United States Welfare State rathole, never to be seen again. The money the US is borrowing is being used 100% for non-productive enterprises, dramatically reducing the country's ability to pay any of it back. It's not being used to build productive infrastructure, energy systems, or research. It's being used to pay for food stamps, second hips, and bombs to blow people up in the Middle East.
It's either a brilliant strategy by the Chinese to make us fat, lazy, and stupid or it's a collosal mistake. I'm really not sure which it is.
I think its called 'trying to get re-elected.' Eventually, it won't work anymore.
You have 1 Keynsian Empire fighting another Keynsian empire, guess who's gonna win .... yes correct all those who are pulling the strings and not fighting them selves, like Rothschild did with Napoleon when SHTF some1 will buy out every piece of land and hardware and make out a king when the dust settles
Keynes wasn't even born yet during the Napoleonic Wars. Rothschild had to use gold back then now they just leverage Monopoly money.
I do not think they are preoccupied with getting westerners lazy and fat, they just have all production capacity, they have been educating a ton of engineers who all work in California and will return on dollar collapse, they have the work ethic instead of a bullshit ethic, so the loss of 30 years of sweat in bad investments, is not such a big deal. The worst was that with Chinese bought bonds, the US ousted chinese oil investments in Libya. That was a bit too much. Wasting the money ok, but using it to destroy Chinese investments, that wass over the top.
Well, maybe they'll think twice before trying to use our currency to buy our oil again. The nerve!
China realizes it's money is going down the United States Welfare State rathole, never to be seen again. The money the US is borrowing is being used 100% for non-productive enterprises, dramatically reducing the country's ability to pay any of it back.
//////////////////////////////////////////////////////////////////////////
No. Totally off.
The US has forced the world into a consumption game. The first to deplete the world's resources wins. US citizens mindset.
China is experimenting first hand that a 'welfare' class works wonders to increase a country superficy of consumption. Chinese can not mimick the same effects, even through their enormous efforts in infrastructure building.
Production is consumption. 'Welfare' is a very productive enterprise in a game of consumption. It produces the desired effects.
When the US wants to starve a country to soften a deal, the US can count on an army of glutons to eat quite a lot of food made available. Contrary to the myth propagated here, the US elite does not work against its US base.
The US base has empowered its US elite and they work hand in hand. US elites can always trust the US middle class to innovate in even more path to no tomorrow consumption ways.
you are single-handedly THE worst poster on ZH. cripes, RobotTrader offers more value.......
Value in what?
While I tend to look at what AnA provides with a critical eye. He does provide a much better contribution then RoboTrader. Specifically, a contrarian view to the established normal mind set.
Robo is a drone. AnA is an antithesis, an enigma.
If one chooses to take the time to dissect his diatribes, the ideas presented are very useful and educational.
Does that make him right? Not all the time. But fundamentally more enjoyable to read, and argue with, then RoboTrader!
My opinion, of course..
The average US citizen can't name three elites. We're not 'working together'. Who blames the Russian people for their government murdering 20-40 million people, their own citizens? Their population let THAT happen, were they all working together toward that end?
You see the symptom only, not the disease. The people with immense power and wealth 150 years ago haven't gone anywhere, they've just largely gone underground, they now work with sovereign nations as witting or unwitting proxies. They still pull the strings, as they always did. And read a few polls - most Americans think the country is headed off a cliff, they just don't get the big picture: they've been played. You're just as clueless as the average American.
The east is red, the sun rises.
China has produced a Mao Zedong.
He is a happiness for the people,
Hurrah, He is the people's great savior!
Chairman Mao loves the people.
He is our guide
In order to build a new China
Hu'er Haiyo, led us to move forward!
Communist Party, like the sun,
Wherever it shines, it is bright.
Where it shines bright,
Where has the Communist Party,
Hu'er Haiyo, where the people were liberated!
Sesame oil, cabbage hearts,
Wanna eat string beans, break off the tips,
Get really lovesick if I don't see you for three days,
Hu-er-hai-yo,
Oh dear, Third Brother mine.
Nah, it's being used to launder money from the taxpayer to Democrat bundlers via worthless green energy schemes. The question is, what do Democrat bundlers buy, after contributing a healthy skim for the One World Government? That is the bull market for the short term.
I'm guessing he went to France for his holidays...
China is not so unhappy with the debt slaves that they will allow their currency to have fair value though. They'll still buy that debt in order to keep their currency artificially low.
Thus he's a hypocrite.
The Chinese are pure and total pussies. They are allowing Americans and Europeans to live fat, lazy, lifestyles off their servants and slaves.
But heh, why not. Besides I've got some Monday night football to watch on my Asian made monster box.
I would much prefer having a good old bright green, plastic American made Monster Box myself.
Many Europeans seem to be upset with the China proposing a sweatshop model for their citizens...
Just when you think you've escaped the Dark Ages...
Sweatshops in a palace? No. It is too late for a sweat shop in the US, Europe, Japan.
Sweatshops do not offer bathing in gold made tubs.
Well, that's the only way out. If you don't manufacture you don't get rich. It's as simple as that. Service industries are of no good when it comes to wealth accumulation. They couldn't pull USA and EU out of the mud.
The problem of course is that we need less and less people to actually do work in manufacturing, unless they work for peanuts like in China. Manufacturing creates wealth in products, but it doesn't create a middle class any more ... who is going to be the consumer when all the peons work for Chinese level wages in their sweatshops?
Innovative China man - All your patents are berong to us!
All the world's slaves need to toil for the banksters until they pay for the endless bailouts. Then we would have a non-burdened welfare system designed to sustain the masters of the universe.
How 'bout China Man hold some free and fair erections? Chop Chop.
totally agree, the welfare/warfare state is about to die and good riddens. For me the line was crossed when people who have been on welfare for 7 years, play tennis, date multiple women simultaneously and call you a misguided materialist for working so hard.
I know he was right, you ARE an idiot to work when you can have a free ride for fun. I just have the funny idea it won't last.
Yes we should all aspire to be debt slaves in a Chinese-like serfdom. Thanks for the advice. But I prefer revolution.
The interview with Jin Liqun
http://www.channel4.com/news/sloth-inducing-labour-laws-to-blame-for-eur...
If Europeans and Americans work a bit harder and longer China would not have a wealth fund to begin with.Like my goal in life is to be a slave laborer in some sweat shop.We all need to work hard to make it,but not like them ...
So half of Turkey works hard and the other half watches TV all day?
hell, the turks are all in germany building mercedes benz's and beamers....
Gosh, the poor Chinese. They did not know about the various European entitlements, nor their work ethic, before they invested.
There's gonna be some bald Chinese around, some bald Arabs, some bald Americans. Sit down in this here barber's chair, get your fucking haircut, take your fucking medicine and shut the fuck up.
China will end up as the patsy here. They keep trading wealth now, for wealth sometime in the future.
the chinese war lords think that the europeans should work harder during longer work hours and make two dollars a day doing it.....
You are correct. The Chinese invest in dollar assets because they HAVE to. They will get the return back that they get and it doesn't really matter if they bitch about it or thank Heaven profusely.
Pride and arrogance...and to think the USA had primacy in that too so recently....oh well...
Dear China:
You seem to be suffering from a loss of memory, so please let me remind you how this works: You are the pusher. You part is sucking away all manufacturing and letting your population work at joke wages.... since then other countries lack jobs, and their own domestic markets have difficulty competing with your undervalued goods.... they cannot afford to buy from you.... because they got no jobs, capito? So, the gov then artificially creates purchasing power via entitlements.... and YOU bail them out over and over to replenish cash reserves.
Or in short: You pay others, so that they can buy your goods.
So can we please stop with the hypocritical pretending? See, you cannot have your cake and eat it too. Either you play the pusher-role and sell out your population at fire-sale prices.... AND then compensate other countries for it.... or you don't engage in this stupid game to begin with.
Oh, and as for fixing a lack of buying power, with people working more for less pay .... doesn't that REDUCE buying power, instead of increasing it.... so that even MORE green shots are needed? Fucking for virginity?
Just like faber, another moron with lots of money and no clue how this type of perverted economy works.... or perhaps, those assholes know very well what is going on, and are just engaging in their usual deceptions.
You part is sucking away all manufacturing and letting your population work at joke wages....
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Made me laugh. They should force the Chinese to be paid more, to consume more. But what in the end? Days are on levelling productions on a world scale.
So what?
The West prides itself into being the corner of the Earth where consumption is done. Do you want consumption to be shifted to another corner?
US citizens and their duplicity.
I think China is beating the West in their own game. A joke wage is still higher than the wage of a jobless Westerner, isn't it?
If China were unsuccessful, you wouldn't write this post. China would be as important to you as Somalia or Ghana.
Most of the time, no. Also, china has a high deal of unemployed too - it's just that they're tasked with breaking windows and then repairing them... where in the west instead no window gets broken and repaired (though, apparently obama now considers the china approach to make jobless numbers look better).
That's not to say that import-nations are any better.... they're retarded in the opposite way.
But right, continue argueing that a financial practice of marking gifts as sales and purchases is sane. Continue argueing that giving other people goods for free makes one rich, and that depending on free gifts from others implies strength.
Oh, and by the way - as for me supposedly being envious about china: I'm living in pusher nation #2. And it sucks. So no, i do not envy their population at all - just as i do not envy the junkie nation populations. Everyone is screwed in this parasitary bullcrap... everyone except of those taking advantage of it. And those taking advantage of it, are beyond "nations".
Alice's wonderland was a lunatic asylum.
i know a guy who works for phillips electronics in germany. he is also a mayor of a small town in austria. yet he always seems to be taking time off and traveling. and over here no less. i asked him. does he ever do anything remotely resembling work? good grief......
Half of all employees in all big German firms sit on their asses all day trying to look busy (or not even trying), they have tasks that a trained monkey could do and those are not even the unionized workers
I kinda like being slothful and lazy. It beats the hell out of being a sweatshop slave in China.
gold bugs are slothful and lazy.......:)
Yes! + 1
:-)
Looking at the numbers, it seems like this party is not going to last for ever though. Otherwise I would agree.
Can't wait until the now-totally discredited European welfare and the US "Capitalism gone amok" systems both get abandoned so we can settle down to a few relaxing decades under the proven-to-be-the-winner Sharia system. The sooner we all move away from suckling on the teat of Big Government and purse our fattened lips onto the teat of the Caliphate the better. Yeah Baby!
Oh wait...or is it the Chinese model we're all going to adopt? Hhhmmmm....actually they're also pretty much insolvent, especially when they go to cash in all their US Treasuries and the bid is 60. "But...we paid par!!" Oh, and then the 60 cents on the dollar is also proven to be pretty much worthless seeing as the dollar by then is worth as much as the Zimbabwe Dollar.
If you reduce this seemingly complicated perveted model to it essence, it looks like this:
I give you my goods for free.
I pretend that i sold something, and thus that i made profits.
You pretend that you bought something, and thus can afford a lot (GDP up yay!).
Problem with China... a parasite never see's they are killing the host.
US government suffers from same malady. Just let me get mine and then I swear I'll quit...
Once your butt starts itching, Pyrantel kills off those pin worms just fine. For Chinese infestation, opium was the historical treatment of choice.
Thus, for example, the recent move by Bank of America, Goldman Sachs and J.P. Morgan to each take $81 trillion of their derivatives fraud from their books and dump it on the American taxpayers, has been duly noted.
If anyone knows abut this,please comment.
This guy knows:
http://campaign2012.washingtonexaminer.com/article/all-sides-should-agre...
It was in the DC papers this morning. Handed out at Metro stops.
honk
This is more bollox from the debt matrix middlemen.
The west exported its core capital to these countries over the years.
He is only brave enough to say such things when he has captured western technology with the help of our local slave masters.
Our true western leaders wish to have a global slave fiefdom under their control.
Nixons visit to China still gives me the creeps - it was the true face of power exposing itself for a instant.
There was no incentive to create technology in Rome or the 19th century south - slave fiefdoms are inherently not dynamic and are creative dead ends as ever since the dawn of human time primates have been using their brains to reduce the workload.
If we did not we would still be eating in a cave extracting marrow from a bone.
Yes. Nixon in China, dubbed a stroke of "genius" by his defenders and handlers, was the ultimate sellout that led to terminal rot. I've said it before: When Nixon visited China, the US was a capitalist economy on the brink of falling apart due to frightening inflation at the end of the Vietnam debacle. Wag and price freezes were tried and weren't enough. Dollar devaluation and closing the gold window was necessary, and the dollar was in a death spiral. And this was pre-oil crisis. At the same time CHina was a communist system also on the brink after the cultural revolution fiasco. So Nixon gave away the farm so to speak, allowing core industries, capital and jobs to go elsewhere and letting China sell the US finished goods on credit. Exactly replicating what Imperial powers do to their colonies. The two systems will continue to converge of necessity because they're unstable without the other: China will continue the drift toward capitalism with an entrenched wealthy class, the US will drift toward centralized authority with tight control over markets, business and trade. We will look back on the 08-10 period as the irrevocable step toward centrally controlled US markets, the next logical step after Nixon in China. The system is now too unstable to liberalize.
The relative meaning of LAZY will be quite different for someone who comes from a culture that ENSLAVES its populace and treats at best its citizens as nothing more than highly interchangable anonymous digits to be exploited and abused.
CHINA, THE SINKHOLE OF PLANET EARTH.
Just in case someone hasn't seen it yet...
WARNING: GRAPHIC
http://www.youtube.com/watch?v=UqVYUzHc5L8
Comrade 6103, congratulations, you contributed 5% to cell A54 on ChinaCorp's spreadsheet, this should make you proud - this is a substantial increase over last quarter's 2.3% As a reward, and with much gratitude, you will get to enjoy more working time in the future in order to perfect yourself; this will aid you in reaching the zenith of your human journey. Perfecting yourself is important as this will lead to ChinaCorp perfecting itself, and therefore the perfection of China.
Well done 6103!
Does some Labor Warlord from the workers paradise of China who feels a Living Wage is around .30 a day really qualify as a good arbiter of what "Entitled" might look like? I'm not sure.
Probably just me.
The god damn Chinese work so hard, they won't even take the time to steer around a two year old girl walking in the street, let alone pick the poor child up after running over her. TWICE, NO LESS! MOTHER FUCKERS RAN OVER HER TWICE. LIKE A GOD DAMN SICK CARTOON! Fuck you China.
2 year Old Toddler Run Over and Ignored in Chinahttp://www.youtube.com/watch?v=wLlwpfbQP5c&feature=related
OH yeah, thanks for the cheap shit!