Author: StellaSong

Prophets of doom driven by false economic assumptions   [Copy link] 中文

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Post time 2016-2-17 13:41:35 |Display all floors
pimpernel2 Post time: 2016-2-16 22:03
Seneca. Do you ever read the news papers in 2008? Did you realize that the USA, the UK and many Euro ...

I didn't know ythe U.S. and the U.K. "crashed" in 2008; it was the yeqar of the Olympiad and U.S. American and British visitors were not allowed to come to watch the Games in China in the numbers they might have if China had been more visitor-friendly. That is what I remember. I know there was financial turbulences, but that ws far frtom an "economic crash". Did all employers release their workers? Then the world would probably be flooded with jobless Europeans and U.S. Americans, but this has not come to happen.

Let us also state that if the West had "crashed", China would have followed suit. Who would snap up Chinese-made consumer articles produced bny Western comjpanies in China? Look what is actually going on: Chinese factories are closing, some moving their facilities to cheaper developing nations.

Gordon Chang's prophecy was too dire to come to happen in exactly the scenario he chose but it wasn't that far off target. Like "1984", things in books are depicted in a slightly condensed manner and thenb they do happen in real life, albeit less harshly. "1984" is with us everywhere we go - whether that be London or Beijing: the State is nooping on us all, and China's economy is reorientating though nobody knows in which direction.

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Post time 2016-2-17 13:48:12 |Display all floors
robert237 Post time: 2016-2-17 12:33
You need to learn to read little one.

Come on, Pastor, you of all adults ought to givbe a toddler DIFFERENT advice. You don't want saywhat to read that staid and unreadable stuffr trotted out by Das Kapital or a communist newspaper, do you?

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Post time 2016-2-17 14:55:54 |Display all floors
Nostradamus off-springs.

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Post time 2016-2-17 17:07:51 |Display all floors
Profits of Doom a great band

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Post time 2016-2-17 18:30:59 |Display all floors
The main fear among China's critics is that the country steers a path between neo-classical Economics and Keynesianism to prove, at long last, that Marx was right. What will help China will be more communism, not less. Instead of the General Theory and Free to Choose, we need to dust down our copies of Das Kapital and above all to study the thoughts of Chairman Mao. He generally had a solution to most crises and forty years after his death, Mao remains a point of reference, as important a thinker as Kong Tze, Meng Ke and Lao Tze!

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Post time 2016-2-17 23:14:36 |Display all floors
This post was edited by Bandito at 2016-2-17 19:15

Interesting Stella that you are posting a rebuttal from a Chinese government website/mouthpiece?  Were I a lesser man, I might suggest to attend to the kitchen as you have not shown too much initiative on this one.

$3. trillion surplus wont go far with 1.5 billion people and those shadow banks.....................zzzzzzzzzzz


Especially disturbing is price data. In Q3, nominal GDP growth of 6.2 percent was less than the officially reported real growth of 6.9 percent. China, therefore, looks like it is now caught in the deflationary trap of falling prices. Deflation, in turn, suggests a 1930s-style crash is increasingly possible. China has too much debt—perhaps as much as 350 percent of GDP at the moment—which becomes impossible to service in an era of rapidly declining prices. The country over the last year has seen a number of “first” defaults. So far, the central and provincial authorities have managed rescues for many of the obligors, but at some point they will have no choice but to let failing borrowers go under in far greater numbers
No, I live above Sunset Plaza, it's a little house I rent and it's a little rundown but has a beautiful view, what about you?

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Post time 2016-2-18 10:10:15 |Display all floors
This post was edited by StanLi at 2016-2-18 10:17

I think we should be more mindful when we read about all the gloom and abuses in the world from the news because the news media are more likely to report sensational events. Mundane but positive things like how people share a light and warm moment with their neighbors; or how people received payment from their creditors are often skipped and readers only get to read news like how people had quarrels with their neighbors or how their businesses went bust and so on.

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