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Jin Liqun: Europe induces 'sloth, indolence'
Al Jazeera ^ | 6 November 2011

Posted on 11/07/2011 10:41:06 AM PST by quesney

The chairman of China's sovereign wealth fund remains sceptical about supporting a European bailout.

"If you look at the troubles which happened in European countries, this is purely because of the accumulated troubles of the worn out welfare society. I think the labour laws are outdated. The labour laws induce sloth, indolence, rather than hardworking. The incentive system, is totally out of whack.

"Why should, for instance, within [the] eurozone some member's people have to work to 65, even longer, whereas in some other countries they are happily retiring at 55, languishing on the beach? This is unfair. The welfare system is good for any society to reduce the gap, to help those who happen to have disadvantages, to enjoy a good life, but a welfare society should not induce people not to work hard."

(Excerpt) Read more at aljazeera.com ...


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To: silverleaf
I read today that France,(the land of govt-mandated 8 weeks annual vacation, and the mandated 35 hour work week)

I retired 12 years ago at age 54 but I well remember all the 70 hour weeks I put in and a lot of years with no vacation at all.

It's not about who retires at what age but whether someone has earned it on their own. If anyone thinks that's "unfair" screw the commie bastards.

21 posted on 11/07/2011 11:45:17 AM PST by Graybeard58 (Of course Obama loves his country but Herman Cain loves mine.)
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To: Paladin2

“So, where did the whole concept of lying on the couch feeding each other grapes come from?”

You have just described the primary economic tenet of the Operation Wall Street protest


22 posted on 11/07/2011 11:48:53 AM PST by chuckee
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To: quesney

Let’s just keep reducing the number of productive people in society and keep increasing the number of people dependent on them. What could possibly go wrong?

The US is now offically to the left of China.


23 posted on 11/07/2011 11:56:01 AM PST by ArcadeQuarters (Stuck with a local RINO? Regardless of who you vote for, donate $$$ to a different district.)
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To: chuckee

So where did this custom originate?


24 posted on 11/07/2011 11:57:36 AM PST by Paladin2
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To: Graybeard58
"It's not about who retires at what age but whether someone has earned it on their own."

Hear, hear. It can take years of hard labor to be able to go virtual Galt.

25 posted on 11/07/2011 11:59:42 AM PST by Paladin2
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To: Olog-hai

Germany IS overregulated,overtaxed,overentitled and overunionized.It does not surprise me that they are pushing Ireland to raise their corporate tax rate.My point is despite a Eurosocialist mindset, they are competitive net exporters because of their technical innovation and exceptional engineering talent that has always been a predominant attribute of that nation.Only China exports more than Germany.They would be even more competitive if they were not bitten by the eurosocialist bug.


26 posted on 11/07/2011 12:06:01 PM PST by chuckee
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To: Paladin2

“So where did this custom originate?”

I would say with socialism but that comes with top down grape redistribution rather than a mutual feeding frenzy.


27 posted on 11/07/2011 12:09:59 PM PST by chuckee
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To: quesney

This coming from a country still controlled by the Communist Party. The Chinese will prosper to the degree they throw off the yoke of Communism, as many of the people there have tried to do. However, the Party is still in control and is constantly trying to tighten the reins to maintain its grip on power.


28 posted on 11/07/2011 12:12:49 PM PST by TexasRepublic (Socialism is the gospel of envy and the religion of thieves)
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To: quesney

Well if this doesn’t shame Eurosocialists nothing will.


29 posted on 11/07/2011 12:14:11 PM PST by jwalsh07
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To: chuckee
Thanks to the USA foolishly underwriting their Wirtschaftwunder after the war, they are stuck on the notion that the "social market economy" is the only way that works. The reason why the USA's failing is because our free market has been polluted with elements from that so-called "social market"; and like you said, Germany's innovations are what's keeping them afloat more so than their manufacturing base (which the USA should never have relinquished; I'll never stop saying that in light of what's written in Hamilton's Report on Manufactures).
30 posted on 11/07/2011 12:14:15 PM PST by Olog-hai
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To: TexasRepublic

This coming from a country still controlled by the Communist Party. The Chinese will prosper to the degree they throw off the yoke of Communism, as many of the people there have tried to do. However, the Party is still in control and is constantly trying to tighten the reins to maintain its grip on power.
If we hadn't traded with the Red Chinese, the communist regime there would have collapsed like in the USSR. Instead, we foolishly underwrote it.

There's an economic bubble in China that's due to pop any moment, and suddenly that prosperity won't be there. That will be just too advantageous to the sick regime that we still allow to run that country.
31 posted on 11/07/2011 12:18:38 PM PST by Olog-hai
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To: jwalsh07

Well if this doesn’t shame Eurosocialists nothing will.

http://www.youtube.com/watch?v=dDsX3ZBvths&feature=related


32 posted on 11/07/2011 12:19:04 PM PST by Calusa (The pump don't work cause the vandals took the handles. Quoth Bob Dylan.)
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To: Olog-hai

I agree fully with both of your most recent posts particularly when we gave China permanent status in the World Trade Organization. It is incredible to look at a chart of the exponential growth of their exports over the past 10 years since their admission. And coordinately a decline of our exports and those of the West as we feverishly transfer wealth.Most free trade, not all, is good trade.Few of the political elite will admit it but China is mother of all toxic trade relationships. It is only a question of whether their bubble bursts first before we should go the punitive tariff route.


33 posted on 11/07/2011 12:42:29 PM PST by chuckee
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To: silverleaf

Ah! The commie Lennin was wrong! The capitalists wont in fact sell the communists the rope to hang the capitalists with, in fact the communists will sell the capitalists the rope, and hang them with the loan for it!

Europe is going muslim without care, he Red welfare state is now criticizing the capitalist welfare state, while we have an anti-christian anarchistic anti-American communist as our President. The world has truly flipped!


34 posted on 11/07/2011 12:44:34 PM PST by If You Want It Fixed - Fix It
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To: silverleaf

Ah! The commie Lennin was wrong! The capitalists wont in fact sell the communists the rope to hang the capitalists with, in fact the communists will sell the capitalists the rope, and hang them with the loan for it!

Europe is going muslim without care, he Red welfare state is now criticizing the capitalist welfare state, while we have an anti-christian anarchistic anti-American communist as our President. The world has truly flipped!


35 posted on 11/07/2011 12:44:56 PM PST by If You Want It Fixed - Fix It
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To: Olog-hai
If that's the case, then I'd like to know why Germany is trying to push Ireland to raise its corporate tax rate.

Germany wants Ireland make itself less attractive as a corporate headquarters. If they don't, Germany will withhold any assistance.

36 posted on 11/07/2011 1:20:41 PM PST by Myrddin
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To: Myrddin

Germany wants Ireland make itself less attractive as a corporate headquarters. If they don't, Germany will withhold any assistance
Imperialist blackmail. That would have been less feasible if Ireland had not surrendered the punt.

The "beneficial crisis" is still in full swing. Now imagine if the USA had even thought of trying what Germany's doing with impunity right now, how the USA would be utterly excoriated? Not that such is in the USA's nature, but there's no justification to Germany's empire-building in this fashion.
37 posted on 11/07/2011 1:45:41 PM PST by Olog-hai
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To: Olog-hai

Because Germany can’t pay for tje bailouts by itself.


38 posted on 11/07/2011 2:09:51 PM PST by Crucial
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To: Crucial

They ought to stop forcing the bailouts on these countries then.


39 posted on 11/07/2011 2:10:30 PM PST by Olog-hai
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To: chuckee

I’d guess that ancient Greece had much to do with promulgating the concept.


40 posted on 11/07/2011 2:50:57 PM PST by Paladin2
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