Posted on 09/06/2022 5:37:39 AM PDT by whyilovetexas111
Yes, I am old enough to remember when the Democratic Party was 100% pushing for a Japan-style "Industrial Plan"....in other words a top-down, gov't planned economy.
Fortunately, we had Reagan and a booming economy as a result. Japan went into 30 years of decline.
Democrats admire China as well. The wheels are coming off that mistake as well.
A collapsing Chinese economy will affect our economy as well. If we do not make the mistake of more gov't interference, our industries will survive.
I am more concerned about internal Chinese instability and the Chinese desire for war as a way to escape/overshadow their economic woes.
Ed Dowd, who I find is a like-minded brother, nails this situation.
China’s two largest cities are in lockdown.
https://newtube.app/user/Hostage/5KxR5nR
The real reason is the population is going hungry and hungry populations are known to revolt en masse.
Ed knows history. When regimes with a hungry, angry populace, resort to Martial Law, they know it’s only a matter of time before the masses come for them. In history, such regimes look for a scapegoat to direct the restless population’s attention to.
That scapegoat is Taiwan.
I doubt China or even the US will collapse.
But we may end a depression that will take years to crawl out of.
But don’t worry..our humble leaders will continue to eat big juicy steaks..get $200 haircuts and fly around in their private jets.
And basically live as though there is no tomorrow.
So the inherent contradictions of China’s capital squandering policies are causing its economy to contract and perhaps collapse. Europe has committed first cultural suicide and now economic suicide with its self inflicted green lunatic torture. The Biden cabal remains in power in the US and continues to tax, regulate, print and destroy. Would say going short on stocks is a reasonable investment strategy.
“CALPERS? LOL!!! Screw them.”
With a Democrat in the White House, running the senate and the House, who do you think will actually get screwed?
I mean, non-college graduates just got saddled with the student loan debt of others, do you think they’d think twice about saddling 49 other states with California’s pension debt?
C’mon man! China’s not bad folks, folks.
I agree.
World Economy Is Headed For One Of The Largest Meltdowns Ever
Because a Great Reset is needed to Build Back Better into a New/Liberal World Order
Most people don’t realize China is in the middle of an enormous drought. So it’s not just Europe and the Western United States that are dry.
The world could be heading for disaster, but I hope not.
USA. Our birth rate is pathetic. But we have a lot of immigration from Latin America, Philippines, etc keeping us afloat.
Who do you think caused the ‘08 crash just before the election?
It was either China or the Saudis.
550B was pulled out of the market in one day.
A command economy presupposes that those issuing the commands know what they are doing and how to avoid human nature.
Communism & socialism are utopian dreams BUT no utopia has ever lasted independently beyond a generation (if that long)!
The socialism of post WW2 Europe only lasted as long as it has because Europe could and did off-loaded the very expensive military on the USofA. Consequently, for the first time in several centuries, Europe has avoided their endemic wars.
China is inheriting the whirlwind of the past several centuries. They have the mandarin mindset that is comfortable to them. They remember the Middle Kingdom that had all looking up to them as the superior civilization for the past 4-5 thousand years. They have a ruling oligarchy that opens their deprived marketplace but locks down reciprocity, thus creating severe imbalances as a results. They have built their military into every aspect of their economy and then realize that it is becomming the tail that wags the dog.
To hit the difficult-to-attain targets, ingenious bankers are lending and simultaneously allowing borrowers to deposit identical amounts with their institutions at identical interest rates. This is the equivalent of an economic 'perpetual motion' machine. It is equally valid as an impossible mechanism, doomed to fail.
...and why the globalists are forcing farmers to cut back production. They're trying to bring China under control, using food as a weapon.
If I worked for a bank and my manager told me I had to get 1,000 new checking accounts opened in the next six months, the first thing I’d do is go to my existing customers and ask them to open new accounts — and close down their old ones.
I like the train analogy at the link.
Equally applies here in ways.
It’s not Zero Sum (for you) if you have to pay taxes on the interest.
Debt is a crisis around the world in just about every nation.
Western nations have a massive debt bubble. China has the biggest bubble (its much bigger than ours). The US is on an unsustainable path and inflation is ravaging the world reserve currency. Developing and third world nations are in debt up to their eyeballs as China and the world bank have pushed loans on them non-stop with their nations as collateral.
History tells us what will happen......... war.
Chang gets a lot of flak here and perhaps some of it is deserved as he has long predicted the collapse of China. However, he has been right in pointing out the fundamental flaws in the system just as many are correct in pointing them out here in the US.
The current status quo is unsustainable. The world economy is so intertwined now that one big crash will send shockwaves up and down the pyramid.
Central bankers lied to us by telling us that they could “pump” or “prime” their way out of recession or slow-downs. Our politicians demanded it.
A recession or contraction in a free market economy can be a very healthy event because it weeds out the weak. However, we now live in an era where the “too big to fail” companies are bailed out by the banksters and politicians so “we the people” are taxed to save corporate boardrooms that own our politicians and staff our bureaucracies.
We have sustained the unsustainable by “taxing” the working and middle class for the profit of the elites. Forget the homeless people crapping on police cars, “Occupy Wall Street” was correct. It was the leftist version of the Tea Party where people instinctively recognized that the game was rigged.
When you point this out some suggest you are oversimplifying it. Yes, it’s complex. Deliberately so. Despite that, please tell me where I am wrong because creating inflation to protect the weak and the elites plus sustain deficit spending by government IS a tax on regular people. At some point, you can save the business but choke the customer so who is going to buy the product? You can only sustain those who consume and never contribute for so long.
We live in an era of deception. The banksters and globalists have lied as much our public health hacks did to us in the last two years.
The day of reckoning approaches.......... God help us all.
China’s economic collapse in ‘08, which wasn’t a collapse really, didn’t cause the downturn in ‘08..
“ We export so little to the China, mostly ag and retro grade trash, if it collapsed would we even feel it economically?”
But we get a huge majority of the items purchased in the US from China. If they are unable to keep the supply coming our stores will go empty. It would take years to get domestic production back. Thank the Clintons and the bushes for that.
Walmart
Lowes
Home Depot
Target
Northern tool
Grocery stores
Pharmacy’s
Etc, etc, etc.
“But Central Planning always works!”
—Control Freaks everywhere, including “progressives” and other mentally ill narcissists
So Xi will choose war.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.