Posted on 12/16/2023 4:36:16 PM PST by E. Pluribus Unum
Are we headed toward a war with China? Recent developments seem to suggest that things are heading in that direction.
Congressional lawmakers are now pressing the Federal Reserve to ‘stress tests’ banks for the ensuing fallout from a potential war with the Chinese Communist Party.
Aside from the fact that this indicates Washington D.C. is anticipating conflict, it also calls into question the current health of our banking sector overall.
It’s no secret that banks have been failing left and right, while both consumer and national debt have skyrocketed to unsustainable levels.
Consumer spending is down in several key areas, while the Federal Reserve has indicated that it plans to slash interest rates at least three times next year, both are signs that a looming recession is imminent.
Advertisement These current reports are all concerning, to say the least, and while they are not definite proof of something big happening soon and a broader collapse ensuing, they do paint a grim outlook for 2024 and beyond.
The Select Committee on the Chinese Communist Party announced on Tuesday: “Fed should stress test US banks for China war risk ‘The U.S. now has a choice: accept Beijing’s vision of America as its economic vassal or stand up for our security, values, and prosperity,’ the Select Committee’s bipartisan report concluded.”
(Excerpt) Read more at 100percentfedup.com ...
—— the CCP may be evil but it is not irrational.-——
Aaahhh....... a rational post indicating understanding of XI led present day China.
In order to have a true China Socialist state, all traces of capitalism and freedom of action must be removed. There can be no super rich Chicaps, no middle class, no wealth accumulation. (no Hong Kong, No Macau, no Shanghai) Life must be controlled by the party to assure all have jobs and homes and relative prosperity.
President Xi is facilitating that transition in many ways but the most obvious and destructive is the total wrecking of the present economy. That destruction is in full force, full steam ahead.
A market that exists to create wealth is not needed and is in actuality a burden on the China Socialism being imposed. The belief that the transition in process can succeed is irrational.
China that was not only isn’t but will not be again within the current century
Lots of “American made” stuff has Chinese parts.
Xi doesn’t give a panda’s butt about true socialism—or his populace.
It is true, global control that he is about, which means continuing the frenemy game with the Western globalists.
Not good news for the US of A at all, of course. But he’s not about to shut down China’s global power via American economic hegemony until he has established global economic hegemony in its stead.
No, you are totally wrong.
Xi’s stated goal is the creation of China Socialism. He has stated that proposition many times. He has set in motion via the CCP edict the forces internally required to wreck the existing system.
That is not his goal: that is his internal cover story.
I know that you know what you think you know, but in reality you don’t
Like the Western globalists, Xi wants a full return to the historical feudalism—on modern tech steriods. But he (and they) know that’s not a winning message for their goals.
But somehow bert in TN thinks he knows and understands more.
True socialist “equality” cannot be achieved.
The senior party depends on the millions of low-level party members to maintain control over the people. At each level, people are in the Party, not out of altruism, but for what being in the Party can do for them (wealth and power). If the low level Party is not kept happy...
I call it Kissing Black Ass
My recollection of the shift to manufacturing everything in China is that all the US manufacturing equipment was yanked out of factories and shipped over there.
To restart much manufacturing in the US that equipment would first have to be built, factories refurbished or built new and employees trained to do make it.
We really screwed ourselves, badly. All in the name of the dollar so the rich could become mega billionaire psychopaths on power binges to control and depopulate.
It would be a mammoth undertaking, but could be done.
Thank you.
I love America and her principles. Tradition trumps ugly modernity. I despise statists on both sides, and leftist haters.
It’s easy to get down. And to buy into that death spiral. Light and antiseptic kills germs.
Thank you.
It depends what you consider “currency failures.” If you mean where a currency literally goes to zero, we’ve had that happen in crypto. There were two banks that failed in those crypto wipeouts. Every other FI drove past that twisted metal in part because of hedging but largely because they saw crypto as a speculative, unproven asset to avoid.
The other reality is that currencies don’t die overnight. To be sure, currency devaluations happen instantaneously when a central bank unpegs. But that’s not death. In addition, there is hedging that’s happening all the time.
I believe what you may be suggesting, is a dollar collapse relative to other currencies. Would go hand-in-hand with interest rate increases, as the Treasury props up the dollar. I bet bigly that market risk management and asset-liability oversight runs a wide range of those scenarios monthly. Further, with the tightening we saw this year, I suspect many firms have piled ad hoc analyses with massive, instantaneous spikes in rates.
Here is my final thought on this matter…the world has trillions invested in America. Foreigners own Yankee financial and physical assets. Indeed, about $7 trillion of Treasury debt is held by foreign individuals and governments. A bigly collapse of America like our buddy Vinnie predicts and - sadly - many “conservatives” want (thinking from Mom’s basement that it’ll usher in WWIII etc and they and only they will survive) presupposes that there are no interdependencies. The old saying “if a bank lends you $100 and you can’t pay, shame on you. If a bank lends you $1 billion and you can’t pay, shame on the bank” applies here.
Yeah, yeah, yeah…WEF, Soros, the Trilateral Commission, American leftists, Antifa, and The View want us all dead and or enslaved. So they say. And I have no doubt that many Antifa-like dopes WANT to see America fail. But I also see a strong similarity amongst some of our “the sky is falling” FRiends with the 2002 leftists crying Halliburton every day. They’re useful idiots. What the jar-shakers REALLY want is strife, brother-against-brother fighting, and a turning away from God.
That’s not an argument for being insouciant, Pollyanna, and ignorant. There is a reason Americans own more firearms and rounds than most military outfits. But we needn’t become despondent.
Thanks for listening.
Sounds like a depression alarm going off.
I’m AFRAID you’re right.
The most important thing to remember is this...
whatever happens....
It is your fault.
You will be blamed.
Act accordingly.
“The most important thing to remember is this...
whatever happens....
It is your fault.
You will be blamed.
Act accordingly.”
Unfortunately, I have a very low tolerance for being accused of or blamed for something I didn’t do or cause. It won’t end well.
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