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Main China Daily Xinhua Pens Epic Anti-US Tirade, Bashes America As Source Of All Global Financial Ills
You thought China was going to take this weekend's endless bashing by Obama, telling it to grow up and act as "an adult", lying down? You thought wrong. China main daily publication Xinhua has just released possibly the most scathing anti-America editorial via Liu Tian, to ever see the very public light of day. "For the United States, it should put its house in order before chiding others. Since the onset of U.S. subprime crisis in 2007, it was the country's domestic economic problems that triggered a disastrous financial crisis that swept the world. Excessive spending for many years has added up debts. Meanwhile, traditional strong industries such as finance and auto were devastated by the crisis, pushing up unemployment. In face of such serious domestic problems which probably could trigger a new global economic tsunami, many U.S. politicians seemed only to care about how many votes they could get, without having a single thought about what kind of the global responsibilities the country should take. Thus it should come as no surprise that the angry "Occupy Wall Street" protesters are calling for an end to the political tricks in Washington." Ball is in your court president Obama: it is now your turn to piss off your biggest creditor (at least until QE3 ends) even further.
From Xinhua, Liu Tian
Scapegoating others no answer to U.S. economic woes
In a replay of scapegoating China for the economic woes of America's own making, U.S. President Barack Obama claimed Sunday that Beijing has "still not done enough" to revalue its currency.
"There has been slight improvement over the last year but it hasn't been enough," he commented on the exchange rate of the yuan against the U.S. dollar at a news conference after the Asia-Pacific Economic Cooperation (APEC) economic leaders'
meeting in Honolulu, Hawaii.
But he failed to mention the fact that the yuan has already appreciated by about 30 percent against the greenback in the past six years.
In international trade, every country is supposed to exert its competitive edge. China does have an advantage in labor costs when it comes to the trade with the United States. But it's puzzling that when Washington keeps complaining about its trade deficit with China, it refuses to sell hi-tech products to China, in which America has an edge.
To many, the U.S. obsession in the issue of yuan exchange rate is just another puzzle. Based on the facts over recent years, it's evident that forcing the yuan to appreciate will only result in massive bankruptcy of Chinese small- and medium- sized companies, and still leave the problem of U.S. trade deficit unsolved.
Chinese President Hu Jintao told Obama on Sunday that appreciation of the yuan won't help Washington solve its problems such as trade deficits and unemployment. In fact, China's exchange policy is responsible, said Hu.
At a CEO summit of the APEC, Hu also pledged China will give equal importance to import and export and focus more on increasing import while maintaining a stable level of export.
This will probably spur the U.S. exports to China which may also create jobs in the United States.
For the United States, it should put its house in order before chiding others.
Since the onset of U.S. subprime crisis in 2007, it was the country's domestic economic problems that triggered a disastrous financial crisis that swept the world.
Excessive spending for many years has added up debts.
Meanwhile, traditional strong industries such as finance and auto were devastated by the crisis, pushing up unemployment.
In face of such serious domestic problems which probably could trigger a new global economic tsunami, many U.S. politicians seemed only to care about how many votes they could get, without having a single thought about what kind of the global responsibilities the country should take.
Thus it should come as no surprise that the angry "Occupy Wall Street" protesters are calling for an end to the political tricks in Washington.
Squeezing China, especially on the yuan, is an old trick in the run-up to U.S. presidential election. Such a tactic of scapegoating others may attract some voters' attention, but is definitely no answer to America's real problems.
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It is sad when a communist country is being more honest than your own...
Ironic isn't it?!
China can insult America all they want, but the fact remains that they are entirely dependent on American consumption of their exports. China will continue to buy our debt because in the absence of American consumption, their export economy will crumble.
No, the only thing the US exports to China that they really need is food. That is the ultimate edge the US has over China. China's imports to the US are irrelevant other than as a means of exchange for things with REAL value. They could weather a US collapse except for the food issue.
Well, until those i-pads become edible, then that is one rather large fucking issue now isn't it?
I believe our number one export to China was jobs.
+1
I guess I thought it was trademarks, patents, and manufacturing blueprints...
#1 inflation, #2 intellectual property, #3 treasury debt.
..and dollars .. federal reserve notes.
US bonds and Federal Reserve notes are all different names for the same thing: inflation
No, it was our testicles.
Not really, China is a net exporter of food
+10 on knowing actual FACTS!
China also maintains stupidly massive food reserves. After the Sichuan quake, more food reserves were added in a decentralized manner based on population densities nationwide. These stocks are frequently rotated to ensure it's all still good and in the event of a disaster, food will simply not be a problem for the week or so until more supplies can be diverted efficiently.
Current grain reserves in China meet over 40% of annual consumption. The US? none, nadda, zero, zilch, nothing, 0%. All that efficiency and centralization is a total waste when your shelves are empty. These reserves can and are actively used to stabilize and suppress food prices. Food security in China is a BIG thing and it is taken very seriously.
I will take you to farms all over the MidWest that hold large food reserves right now and at any time of the year. Those grain bins you can see off of any road hold tens of thousands of bushels of grain. They aren't government held "reserves" but they are reserves nonetheless
I wouldn't call any of it "food" in the same way you can't buy "food" at Albertson's, Vons, Safeway, Ralphs, Walmart etc.; all processed or GMO or pesticide-laced poison designed to depopulate.
Your health is a direct result of what you stuff down your pie hole. Grow your own without petrochemical ferts or poisons, it's not difficult. If you can't or don't want to grow actual food, support those who do and are willing to share/barter/sell their extra.
+++ clawfoot tub.
container gardens, square foot gardens, lawn gardens, community gardens, CSA (community supported agriculture) gardens, pick one that suits your mindset & locale - but DO SOMETHING about providing for your own food supply - or just sit back and eat what you're being fed - lies, poison, death.
@ Bring the Gold
A U.S. collapse in the form of hyper inflation could make their food imports amazingly cheap for them. Of course that would make food amazingly expensive for those of us living in the US.
We're exporting fuel now, which helps our trade deficit, but it's keeping gas prices higher than they would be otherwise, and our biggest exports are of diesel fuel. That's raising the cost of diesel & heating oil among other things.
Continued rise of the Yen vs the dollar is inevitable, but won't be the panacea our leaders seem to think it will be. It necessarily entails a rise in inflation. Sending them more of our stuff and receiving less in return means a dropping standard of living.
That's a necessary adjustment, as the current situaion is not sustainable, but it will be a painful adjustment nonetheless.
I read the EU is their biggest importer.
Where did China insult America? I read a pretty factual description of the problem.
Oh, I get it. Let me change your statement: "China can tell the truth about America all they want, but the fact remains..."
There. That's better.
Agreed. But I like to think the root word of "politics" is "polite," which effectively means withholding the truth. So telling the truth is the cardinal affront to politics.
I think what's really interesting here is that, despite the ongoings in the EU and the tinder box that is Iran, the two most important actors on the stage are starting to speak lines.
He is right this time boys and girls.
When you are pushing your labor so hard you have to put antisuicide nets around your worker dorms, when there are still 400 million chinese living on a couple of dollars purchasing power each day, then you are on the edge. A collapse hurts them more than us. I say bring it. Quit buying our treasurys if you think you can survive without us.
One thing about being a dictator, is that you don't care if you shoot the rioters.
One thing about being a dictator, is that you don't care if you shoot the rioters.
Assad might disagree, or at least he will shortly.
Your point is valid, but ... (there's always a but) ... to be a dictator you would have to believe that you were the only person that knows what is best for the ungrateful wretches or just be a murderous thug like, say, Stalin. Even at the very end, Ceausescu remained unconvinced what he did was wrong.
or bomb them with UCAVs
I think you would care if there were 300million of them.
China can insult America all they want
Mirrors don't insult, they just "show."
typical delusions of self importance from your neck of the woods. Europe is their biggest export market.
A vendor doesn't subsist on a customer's consumption, but on latter's PAYMENT for good and services. The US is certainly consuming, but not paying (writing IOU is not the same as paying).
China can keep the factories running by dumping the products in to the sea, or by exporting them to the US for more paper IOUs. The time is approaching that they'd be better off dumping them into the sea to save the shipping cost. That'll show you how much they really depend on US consumption
So the chinese economy will collapse if they don't have more consumers?
How naive!
Us no longer consuming means they will no longer be burdened with having to feed our fat asses.
You may as well be saying your household will crash just because you kick out the bum on your couch that doesn't pay rent.
"we no longer have anyone to feed!! I guess it's time to sell the house..."
Another thing to consider is that once china no longer has substantial demand from US consumers, they will likely shift a large perfentage of their manufacturing infratructure to be producing warships...
I really don't think China will have a problem figuring out what to do with their manufacturing base...
The Yuan is under-valued.. The US has a legitimate beef on that subject.. Nevertheless, an appreciation of the Yuan would not solve our problems.. That is also a fact.. So in other words, they are all mixing truth with lies.. as expected...
They're making it hard for that bernanke to delute our dollars. They should hold the peg and buy as much gold as they possible can and then pull the plug on the peg, watch the dollar crash and begin a new dealing only in hard money.
That would be declaring financial war, scatterbrains, but it certainly wouldn't surprise me.
what's the difference between that and the US and other central banks actively devaluing against all the other currencies in the world? We're already in a war homie. Check out Rickard's new book Currency Wars
The Yuan is under-valued.. The US has a legitimate beef on that subject..
The Yuan buys half what the USD buys inside China, so the Chicoms keeping the peg at around 7 Yuan to each USD is causing an imbalance that labor arbitrage can make alot of wealth on.
Say you take $1000 and convert it into 7000 Yuan. You then spend it on commodities so you can then make 700 widgets in China at a cost of 10 Yuan each. That 10 Yuan made $5 worth of widgets, and then you sell the widgets at cost and have $3500 to pocket. You take that $3500 and repeat the cycle making money hand over fist.
That is why Wallmart is so successful; they are playing the labor arbitrage game that the Chicoms make possible by undervaluing the Yuan by a 2:7 ratio.
WalMart is a communist enterprise.
Like most people, china can see the faults of others but is blind toward their own faults.
.....USA vs. China reminds me of the movie " The Sting ", especially the scene where one card cheat is furious that he has been out-cheated by the other.
It's kinda creepy giving an "atta-boy" to a totalitarian regime like the Chinese, but what else can one do?
Obama made the mistake of bashing the Chinese like he does the GOP. The Chinese are not punching bags like those rino repubicans.
What is sad is chronic overconsumption here, the idiocy of branding and marketing which erase critical thinking like Cultural Revolution camps, the politicians who are short sighted and corrupted by those same forces that have made the population shortsighted and corrupted, and what is the saddest of all is a creeping nostalgia for more authoritarian forms of government. While the CCP plays propaganda to the masses, the masses have no other real choices. While the marketers play propaganda to the masses here, you still have a choice. Most of us I think continue to make the wrong one, playing dumb, opting in and hoping.
Less government requires more responsibility on the part of the citizenry and more participation at all levels. Bottom line : China pays a tithe to the pax americana by holding benny bucks, while here one will eventually have to come to the conclusion that you can't have your Walmart (infinite cheap goods) and your job too! At least not at the spread levels of income to cheap consumer goods.
In the mean while, the rich get richer because they not only control you, they control the endless waves of workers in the emerging markets as well.
Ryman 1075: "It is sad when a communist country is being more honest than your own..."
... YES, but understandable, once you realize "your own" is a fascist country...
But truly who is more communist? How many Chinese are pulling UE checks? Extending benefits for years? Medicare/Medicaide? How many Chinese have a Food Stamp credit cards. The Chinese conquer via assimilation, think about it.
Well......the Chinese are absolutely right!
Ingrates.
Here we give them our downgraded debt and what kind of thanks do we get in return?
I didn't even read the article: Because the fact is the chinese are pussies and only one thing will change my view. Until they start dumping treasuires, everything they say is irrelevant. So long as they continue to buy U.S. debt, they are nothing but a bunch of loud mouth, obnoxious pussies that are PART OF THE PROBLEM. Did they mention that?
End of chinese story. Once a pussy, always a pussy.
unless of course, you know a good doctor. They've been in the game a lot longer than our country. They've been buying a whole sack of other things beyond our treasuries. It's sad that we're all looking to them to pressure us to get it right.
clouding the serfs' vision in angry judgment is only one facet of the puppetmaster's bag of tricks.
next the master may have you believing there are countries and that you "belong" to one of them.
and for my next trick.....paper having value! lines in the sand dividing brother from brother!
witches! Satan! /oh what else shall I invent and place into your mind!/
There are in fact countries and sometimes they do wicked things to each other.
And they wont mind stepping on you as they do so, whether you think they are real or not.
The country isnt the line in the sand; its the cadre of people who work together to force other groups of people to bend to their will one way or another.
Whether you call that cadre 'Congressmen', Comrades or 'brother this or that' doesnt matter as that 500 pound bomb comes crashing down on you and your own.
US has been on the winning team for the last century or so, but that seems to be changing because our leadership is composed of a bunch or professional liars who wouldnt know reality if it doesnt come from a ballot box.
You should have read the article. Perhaps the US Congress would like to make good on its threats to levy tariffs on Chinese goods? I would say both sides are being "pussies".
I would take it one step further and say that behind the scenes TPTB in Amerika and China are on the same side of this trade. This is simply kabuki theater for the sheeple in both countries.
Not sure I agree with that...There comes a point where the "coordinated" portion of each narcissists' vision needs to end and the accomplices need to be disposed of (ala "Survivor"). I think China is working feverishly on a "withstand-the-US-collapse" plan. Just my view.
no doubt about that ... it is a given everyone has a plan B; we do it in a family or company, dont you think countries (big ones) always prepare for alternatives...
The fact they repiied so quickly and so harshly (as pointed out by Tyler they raised it a notch) it shows they feel very comfortable to bring it on as Topcaller puts it ... ready or not its coming ....
It will get interesting only when they stop showing up at auctions and sell, like Russia. These exchanges are somewhat staged as far as I'm concerned and don't really change the dynamic much at all.
Truth out of China!
No just piss on the taxpayer and tell them it is raining as always. Over there they cut out your organs for resale.
I have never understood the Chinese obsession to collect green pieces of paper from Uncle Sam with numbers on them.
They can then take control of the US
Oh, my sides! Good luck with that China.
We wont let green pieces of paper have that much power. Promises are made to be broken.
Iraq didn't want the paper. Look what happened. Iran doesn't want it...... China wants to be friends with the guy with all the cool toys ( aircraft carriers, nuclear subs). Maybe they read sun tzu?
Better to win a war without a single shot.
Have never understood why folks think China is worrisome because "5000 years of civilization", and especially "Sun Tzu". Chinese history can pretty much be boiled down to the behavior of a bucket of crabs: rather than crawl out the top to freedom, their priority is to pull down the guy who seems to be getting out: "If that guy escapes, I'll lose face! Can't have that!!" (pull)
As for Sun Tzu and his overrated boatload of bland, generic platitudes o' "genius" - "Know your enemy" - the Chinese had 500 years, plus or minus, to learn his precepts when the Mongols came a-calling. Didn't work: the Mongols tore the Chinese a new asshole just like they did everyone else they fought. Sun Tzu no help. Then, when the Manchus came - ongoing study of S.T. now 800 or so years at this point - they took China with no problems at all. Even though Chinese civilization was 4500 years old at that point. Sun Tzu no help. Then the western powers did as they pleased in the boxer years - civilization age: 4850 years. Sun Tzu no help. Japan crushes them without breaking a sweat at 4950 years. Sun Tzu no help. etc etc.
Did I miss the chapter in 'The Art of War' where he advised "Trick your enemies into overconfidence by allowing them to conquer your forces with laughable ease, then *strike like a cobra* after 300 or 400 years!"? Or "Build completely empty gigantic cities and massive deserted shopping malls to confuse your enemy!"? Or are Sun Tzu and China just too inscutable and sophisticated for a crude, naive gwailo society to comprehend? After all, everyone laughed at The Japanese when *they* overpaid hugely for trophy properties all across the globe, right? But in the end, their thousands of years of civilization & cultural sophistication enabled them to.....No....Wait.....
Without knowing anything about Chinese history, I can't really take anything away from your comment, mostly because (and presuming Sun Tzu's wisdom is valuable, haven't read it) what if all of these failures you cite were due to the people in charge not taking SunTzu's advice? Maybe they let their hubris or stupidity (or whatever) get in the way? Lots of individuals out there have character flaws.
Hmmm. Well, if you "don't know anything about Chinese history or Sun Tzu", I'm not sure why you felt the need to comment, there, Grok. Perhaps it was that universal urge indoctrinated into students at government schools to "disagree with ANY thought, writing, or statement that seems to be *in any way* critical of any and all non-american, non-caucasian, or non-christian cultures or behavior, because everyone knows that's just closet racism."
But let's skip all that for now. Here's a few basic facts about Chinese history that by your own admission you don't know, but are still true:
1) Their civilization is 5000+ years old, just like Egypt's is 2) They have a famed military philosopher who common sense says is highly overrated because 3) Although they've had 1300 years or more to study him, their history is an endless litany of humiliating military defeats. Most recently in Vietnam in 1979, where - despite being outnumbered 15-to-1 - the Viets kicked their asses for them. Ergo, 4) Perhaps all the current blather about why we should fear/respect China because of the age of their society and the excellence of their strategic skills is just that: blather. It means they're not old & wise, but rather bumbling & inept. Rather like that other 5000-year-old culture: Egypt. And after all, we don't particularly fear or respect Egypt, do we? Alternately, 5) if all those humiliating defeats resulting in huge loss of face in the eyes of the world are just due to a 2000+ year string of "stupidity, hubris and character flaws" by the various Chinese leadership over the years, then that makes them even LESS worthy of fear/respect, doesn't it? Because that would make them not subtle & sophisticated, but rather ignorant and prone to choose/tolerate disatrous leaders, right?
Seriously, though. Your whole point is, "I don't know anything about this stuff, but you might be wrong." Yeah, but I might be right, too. And since I know Chinese history and Sun Tzu & you DON'T, my opinion is therefore much likelier than yours to be correct. So why'd you even bother to comment?
Your lack of understanding is not a surprise.
just pols making noises in the bathroom
Just when you thought that th customer was always right:)
china, my avatar bows before thee! i only read what was on my teleprompter!
that's our business model: fraud, bullying, invasions, lying about economic indicators to continue the ponzi, looting and spreading MTV culture worldwide
Obama, man up. give them a couple HAARP.
http://gizmodo.com/5859081/why-is-china-building-these-gigantic-structur...
Or is there another HAARP you refer to?
I don't have time for their jibba jabba. Dump a quarter of a billion treasuries overnight or something. Then we will know they mean business.
Yea, do something. Enough sabre rattling, this has been going on for years.
Exactly, simply more kabuki theater. International companies and the Chinese are working together on this one.
just a down in the polls politician pandering to his union base. nothing to see here, folks.
typical , you show your weakness. A couple of years????????bwhaaaaaaaa,
Why would they dump if another may wish to trade for things of value?
couple of years! that's rich!
One might wonder if they are waiting for a more opportune time to use some leverage. Say September - October next year?
buy PM's, take delivery
Obvious to the most casual observer, even China.
Poor people don't start wars the Rich do. Poor people start revolutions.
Tom Breaker: Look, Bill, if this is about reliving the 60's, you can forget about it, buddy. The movement is dead.
William Strannix: Yes, of course! Hence the name: movement. It moves a certain distance, then it stops, you see? A revolution gets its name by always coming back around in your face. You tried to kill me you son of a bitch... so welcome to the revolution.
Under Siege (1992)
Well as far as the articles headline goes....
China is just calling it like they see it.
Good observation.
Unreal, US has been a beggar-thy-Chinese-neighbor for years, now throws a tantrum and lashes out and tells its Chinese parents to 'grow up' when the party is now over?
Party barely getting started. A few europeans vomiting, haven't even had a good fight yet.... No good party is over until a couple of ass kickings doled out by a bully.
Party will be over when nukes go off and Americans are back to dancing with the tards.
http://blog.yardeni.com/2011/11/money-supply.html
...But our country is being run by such SMART people!...</sarc>
"love your enemies, for they will tell you your faults." -Benjamin Franklin
Peace, man!
Fuck China, every single dealing I have with these people involves them asking questions about my operations, but then sharing nothing and no information about their own. If they are so confident in their own technology they would have attacked already. They buy a tremendous amount of food from the U.S. and have a huge population on the verge of their own awakening. Besides, I personally believe that the International Corporations (who really control Amerika) and China are working together on many fronts towards a NWO.
Fine, let Amerika default, crushing China's export economy. Fucking bring it all ready, I am tired of this kabuki theater between the U.S. and China. It's all a smokescreen anyway.
There is not a single country in Asia where the chinese are trusted or liked by the native population. China probably holds the record for the country with the most WTO complaints filed against it.
Poison baby milk
Poison toothpaste
Toxic toys.
It is quite clear who Asia trusts. It is not China.
there is that "understanding" again. You are a hoot!
but yeah, toys & babystuffs.
blah blah blah
What are the 10 year Italian bond yields now?
Obama is frustrated because he has been taking awful advice from morons and it didn't work.
Obama taking advice? That's fucking funny. Hopey the Clown takes orders, not advice.
Well, that's a little harsh. The USA is probably not responsible for more than 70% of the world's economic ills. Europe got a few licks in too.
Geeeeeez-Us.
Obama trying to lay out an urban Chicago gangsta style bitch-slap against the country where Shaolin Fung Fu originated.
But wait! Perhaps what Obama is really doing is trying to convince the world that US Democratic party style communism is better than Chinese style communism...
Ya know- since US Democratic party communism still yields ultimate control and decision making to Bilderbergers and Trilateral Commisioners.
We are so fucked.
For those of you in the "hood", and need a translation:
China to Obama: fuck you and the horse you rode in on.
Resume normal programming.
http://vegasxau.blogspot.com
America to China: Then dump all your treasury holdings, fuck your bullshit threats, do something if you are serious.
China to America: You first. Raise tariffs on our goods.
Exactly, kabuki theater for the sheeple while TPTB in both countries work towards the same end game. Do you really think a tariff will fucking matter when the world's consumers stop spending? You are a fucking idiot. Tariffs are irrelevant when all the fiat has no purchasing power. Now go do something productive troll.
Why raise tariffs?
We are happy to take your nonpoisonous goods in return for green pieces of paper that we slowly inflate away while you cling tightly to them.
China is the bigger fool here.
Really?
With those worthless pieces of paper, they have managed to build giant sized cities (mostly empty) and purchase up commodities and natural resources around the world. That's the one benefit that having a shitload of the reserve currency of the world will do for you. Now, if the USD is no longer the reserve currency of the world, then yeah, they'll be left holding a shitload of worthless paper. But until the rest of the world stops accepting wall paper for real stuff, then the game will continue.
"Now, if the USD is no longer the reserve currency of the world, then yeah, they'll be left holding a shitload of worthless paper."
So how do you explain China's desire to have the world's reserve currency then? You seem to be contradicting yourself here. I think China will exchange all those dollars for Yuan first. It is pretty clear that China wants a larger say in the IMF and wants to be the holder of the world's reserve currency. If China floods the markets with dollars, American labor and products get much cheaper. I see a better probability of China splitting into at least three seperate trade zones before they start selling U.S. paper in earnest.
We aren't just struggling with unemployment and debt, we are deliberately comitting economic suicide for the NWO. Our leaders are seeking out new tools to accelerate our demise.
http://www.businessinsider.com/deindustrialization-factory-closing-2010-...
The Chinese can shut up, if they had decent pay and working conditions they might have the moral high ground but they don't. Piss off, China.
Here the executioner speaks:
http://news.yahoo.com/executioner-says-job-not-complicated-report-152059...
http://gizmodo.com/5859081/why-is-china-building-these-gigantic-structures-in-the-middle-of-the-desert
What the hell is this? China has many tricks up their sleeve, a slave labor force and they hold the US by the short hairs. I have no clue where it will begin or end, but I do know we are living in the proverbial "interesting times".
I've said it for a long time here, now I'm saying it louder: US and China are on a path to inevitable convergence by virtue of being totally co-dependent. US is on a path to more centralized authority and China to more open markets. The trend will proceed.
Sadly true.
Chimerica as the new supranational state is probably better than a real shooting war.
Not a chance. No convergence.
China and US are on the inevitable collision course for the only thing that matters. Oil.
When US oil consumption denies China some oil consumption, and that starves someone, then tankers heading for Houston refineries will be intercepted and sent to Shanghai. Maybe even without shooting a gun. Maybe instead by bidding higher on the high seas.
Then a tanker bound for Shanghai will be intercepted and bid higher to go to Houston.
The next week the shooting starts.
Massive deficits over past 30 years caused by irreversable movement to the global internet based economy. Companies, encouraged by Congress, outsource jobs while domestic companies and tax collections fall. NEw entitlements are passes to gain favor with the people assuming a return to the pre internet economy. Years of slower than average GDP growth, movement to financial crisis/risk, high unemployement, massive entitlements creates larger and unending unsubstainable deficits. At this point, the only short term answer is more debt to make the people happy but this only makes the problem worse. Our economy has changed. This is not a normal recession. There will be no jobs recovery (200,000 jobs with benefits created monthly). We have entitlements which assumed a return to 4% real GDP growth and 3% unemployment. The only answer is cut medicare, social security, food stamps, student aid, defense by 30%. Then tax collections can over time match expenditures. When not if and how is the only question. We are seeing GS banksters take over EU countries. When will that happen in the US. When will the people take the country back?
"We are seeing GS banksters take over EU countries. When will that happen in the US."
Officially happened in 1913. Was attempted several times before that.
And now is the time for the corrupt, sociopathic leaders of two major countries to blame the other country, and ultimately declare war on it, instead of trying to be less corrupt.
Long fallout shelters.
Median income USA public service employee = $132,000
Median Income USA Private Section employee = $54,000
Median income of Chinese = $1,800
Median Income Mexican employee = $12,800
(Approx figures from sources like USA Today, etc)
Something has to give, eh.
I call BS on public sector median. Have a source?
Amazing that communist China has a better read on the adolescent US tyrannical empire. Betcha China would have the banksters in jail.
The Chinese government controls everything over there, so one could conclude that the Chinese government are the banksters and soon to be the world's banksters, move over small fry ben and you old men at Goldman Sachs there's a new, tougher kid in town.
It's my observation that China handles it's naughty exceutives hanging from the end of a rope. HMMMMM
U.S. needs China to continue swallowing up unrepayable debt. China needs U.S. to continue gulping down cheap knockoff imports to keep the ponzi going. It's a disintegrating-currency-peg race to the bottom...blah, blah, blah.
My view: all a misdirection. The thing that will matter most in the next 36 months is how much gold each has squirreled away. And we know the answer to that lies in the formerly hallowed - now hollowed - bunkers at Ft. Knox.
I don't care who is right or wrong here, the current state of our relationship with China must end. It should have ended immediately with the first shot fired at Tiananmen Square, but we let our political leadership force us into this sickening business relationship and now we're on the brink of disastor.
I'm guessing the saturday discussion didn't go well with Mr. Hu?
Good morning MillionDollarCumSwallower.
Fuck Off now.
We probably started it all with our printing, borrowing and spending; creating multiple bubbles in the process. But everyone else had a good time during the bubble economy, too. China sold us cheap goods. Germany sold China machines to mfr those goods. Etc.. And they all copied our fiscal practices.
Now, as the bubbles deflate, it is all our fault. I don't think so. We didn't make EU countries go 100%+ debt:GDP. They could be in good shape now if they had shown restraint. But wait, then they would have lost out on some profits during the bubbles...
How would you like to be lectured by Debt Brother from Planet O about anything?
if the lying sack of shit indonesian president was chastising china for not squandering its wealth propping up rapacious rockefeler banksters i can't say that i am surprised that it is calling crap on crap....
the usa single handedly created fraudulent mbs, cdos, and other toxic financial waste which it in turn sold abroad to sow the seeds of economic armageddon which is still in the offing...
fuck obama
www.obamacrimes.com
I always got the sense that dudes in the US and in Europe were in "cahoots". I have no idea how China really fits into all of this.
Eurozone problems are only a sideshow. The real clash is US vs China, and it´s heating up.
<<China is the world's second largest gold consumer and gold-bar investment demand is expected to rise to over 270 tons in 2011, nearly twice as much as last year.
But who's actually buying the gold?
A survey from Credit Suisse shows that 32% of respondents would choose to buy gold , compared with 19% who would invest in the stock market and 13% in property.
An overwhelming 47% of people in higher-income group said they would invest in gold, compared with 32% from the middle-income group and 24% from the higher-income group.>>
Read more: http://www.businessinsider.com/china-gold-investment-2011-11#ixzz1dhEMR8o5
Read more: http://www.businessinsider.com/china-gold-investment-2011-11#ixzz1dhDhAuOC Don't the Chinese know you can't eat gold?I love the China threads. It's fun to see so much ignorance in one tiny package. When it comes to Asian geo-poli, the zheeple are very unprepared. I suggest that the Chinese are well aware of this.
I hate those slanty bastardos... especially when they are right. They may be cheaters on a grand scale, but compared to the scum at Goldman and JP Morgan and in our own congress... they are amatures.
One of these days you will see China want to settle trade in something other than dollars.
When Walmart has to buy silver and gold to purchase all those products made in China for their stores in the US and not use the green back, well it will get more interesting.
Maybe China can kick the can down the road if the yield does up, but face it. If the Fed and EFSF can buy an infinite amount of bonds, who needs China. With that China ought to consider moving to something other than pieces of green colored payer and promises from far away barbarians. Meanwhile the US drives employment out of the nation.
The beginning of this is yuan denomination corporate bonds being issued in Hong Kong for outfits like McDonald's.
China will eventually face all kinds of internal strife driven by inflation and unemployment. The question will be, does China break into another Three Kingdoms. I wonder what Goldman Sachs would like.
China's government indirectly kills it people with its trade policies. With all the dollars China is holding they could purchase advanced pharmaceuticals, medical equipment, pollution reducing equipment, and other life-saving technologies. Instead, they want political advantage.
I guess it is beyond hope to ask Obama to act like an adult. Of course if he would announce that he will not run for a second term as he has failed the country, that would help.
better still, everyone ELSE begin to act like "adults" & wean themselves off the idea of "leader/daddy" - and drop the "voting" hope.
China facts:
Cost of living (11%) in China is going up, so does the wage for workers, which went up 11%-20%. Expect this to continue as China's politicans pander to their slave wage base that things will get better (so they won't riot). This, in turn, will casue prices of stuff from CHina to go up, which US Corporations won't like beside their preciosu margins and profts are gained off of Chinese slave labor (like my company).
Quality of product from vendors is going down as they face pressure from their slave wage workers. In turn, they have to either appease them, or use drastic measures to keep them. Shipment dates are not being met on top of the fact that orders are down from the US as Americans don't have any more money to buy Chinese shit.
At some point, even the Great Hampster has to get off the wheel.
the TOTUS doesn't need to understand what he is saying, the TOTUS just needs to say what he is told to say. what the TOTUS says doesn't need to make sense, or comply with any type economic common sense or reality, it just needs to be filled with buzz words and teleprompter speak that give the herd the distinct impression that all their troubles, all the economic woes are "somebody else fault", and if that "somebody else" would just grow up and play by the rule, well then, life would be just peachy again.
this is the new world order where propaganda, rumors, lies and teleprompter speak rule the day, move markets and shapes public opinion. perception, manipulation and deception are the tools of building this new reality...and the truth is nowhere to be found.
no need to speculate on whether the NWO is a paranoid, delusional fantasy concocted by tin foil hat wearing basement dwellers with pages from project blue book all over the walls...it's already here.
fake left/right politics, fake wars against a never ending supply of turban wearing boogieman, fake recoveries fueled by fake money, fake synthetic vaccines and medications, fake GMO "healthy" foods approved by the FDA. I could go on but, you get the idea.
the PTB's are rolling out the red carpet and the big fuckin' neon sing that reads.
"welcome to the New World Order"
perceptive.
me thinks the "PTB's" will maintain the fictive "nationstate" meme a while longer tho' - so as to continue to get their loyal flagwavers to continue to fight each other for global resources. . . gotta continue to test / refine all that spendy weaponry until it's needed to turn on the "citizens back home" who resist. . .
This lunacy with China exposes exactly why fiat itself is evil and leads to irresponible imbalances to be permitted and ponzi economies to take hold.
No way it would have gotten this far if we had to watch boatloads full of gold coins headed to China one after another for over a decade.
This is why we once funded ourself through only tariffs, and why nations went to war quickly over imbalances. If money were real we would act like it's real. But the most obscene imbalances and ponzis develop because money isn't real to begin with. It hurts to watch real actual coin leaving your shores.
Maybe the Chinese are figuring out that they are the victims in the largest dupe in the history of mankind. Imagine trading all that labor and hard assets (and junk as well) for our still wet crappy notes. If in fact all China's accumulated wealth consists of US debt obligations (which includes currency) then surely they have at least as much sense as I do to know that their holdings are being devalued by the minute. While our people are over here sitting on our asses and receiving worthless US currency, the Chinese are working their asses off for the same worthless crap. Their Yuan is no better than our fiat because its base is our fiat - hard assets only from now on for me. Hope they don't decide the same, at least until my stack is a little taller.
China was(is) a seller of US paper in 2011
Anyone who calls auto and finance traditionally strong industries in US that were disrupted by domestic problems which then increased unemployment is either a liar or deceiver.
In my opinion, there is obsoletely nothing intrinsically good about China: for one; it's following a bastardized version of 19th century Western imperialist industrialization policy that was heavily dependent on cheap and abundant energy and rapidly growing Western population. But, China wants to enrich its privileged minority (tycoons), western kleptocratic capitalist and their bankers by driving Western populace to debt peonage--they're all milking the same cows but the cows have no more milk.
The Chinese oligarchy is looking to save face and find culprits to blame when the whole industrial policy blows up.
I have no real notion of the workings of internal China politics -- do you? I'm not sure it's possible without at least being able to read their languages! Maybe I'm wrong, but so much of what I read in these forums seems based on assumption of facts.
indeed, no one here has direct experience of most of what they speak of, they've just decided to "believe" a morsel of the narrative that doesn't disrupt their styled-life toooooo much as yet, until the dissonance forces a truth to manifest. . .
China holds what, less than a year's deficit worth of US Treasurys? The persistent claim that China "owns" the US is pure propaganda.
A free-range RMB would simply mean Goldman could start printing it. I find it difficult to condemn any nation for trying to defend its sovereignty.
As for the nets along side the factory walls, that's just an alternate form of food stamps.
I've heard that the EU is a bigger customer to China than the US, and I've heard that their foreign reserves are $3MMMM. I don't know how much of that are treasuries
Well, if we hadn't have had to fight communism for as long as we did we might all be better off.
Perhaps Obama should read "How to win friends and influence people" before he opens his trap.
Just imagine this headline for a second....."Breaking news as China announces it is selling ALL its US Treasuries".....shut your fucking piehole Obama as you have no idea what you are talking about as you are just biting the hand that feeds you!
I might be inclined to suggest people move to China or Russia, as they may have a better future, but the crazy Bankster criminals who run this country may end up nuking both of those countries. Where do you run to? Right now there are far too many ignorant sheeple in this country who probably could not pull their deeply imbedded heads out of their asses, even if they wanted to do so. I think we may be screwed. I sure hope I am wrong. I sure love this country -at least the way it used to be, and could be again in the future if somehow people are able to recognize the truth of what is going on.
I think Argentina, New Zealand, Australia, Singapore are all better. Then again Australia exports a lot to China, so it would depend on your outlook on China I guess.
China needs to cut the bullshit. China defaulted on nearly a trillion dollars of bonds a few decades ago. The amount of Chinese debt owed to US and world investors probably is near equal to China's account surplus today.
http://americanbondholdersfoundation.com/
I'd suggest that Treasury buy up the old Chinese sovereign debt outstanding from investors, and use it to cancel out our present debt to China. With interest charges, it's pretty much a wash.
Central Banks print money out of thin air devaluing existing currencies and then send the money abroad to pretend that there's global growth. In effect, CB's create "play money" or in economic terms nothing of value is produced.
Due to the "play money" fiat currencies created by CB's, most nations have far more sovereign debt than can ever be paid off. Citizens have noted this. We expect our leaders to use this opportunity to 'net' out this debt. The US taxpayer will not absorb all the massive debt created out of thin air by financial shenanigans around the world.