The myth that is China growth...

[doom&gloom]

[LargoWinch]

Re: The myth that is China growth...

International
For now, Hulu is a U.S. service only.

Too bad....

[pianodoctor]

Re: The myth that is China growth...

It is hard not to feel very very badly for China's working poor. Not that I don't feel quite bad for our own, but it seems the USA is a better place to be unemployed in.

Thanks to EJ's writings, I have already bailed from China stocks. This was at a loss but I think I'll do better changing them for gold than waiting for full recovery.

[touchring]

Re: The myth that is China growth...

It is hard not to feel very very badly for China's working poor. Not that I don't feel quite bad for our own, but it seems the USA is a better place to be unemployed in.

Thanks to EJ's writings, I have already bailed from China stocks. This was at a loss but I think I'll do better changing them for gold than waiting for full recovery.

The reason why China cannot afford a recession, the working poor will revolt. They have to build empty buildings and manufacture loss making products to maintain status quo, if they have to, lest the working poor revolt.

[doom&gloom]

Re: The myth that is China growth...

Too bad....

For those outside US, http://current.com/items/90043902_ou...employment.htm.

[stanley2008]

Re: The myth that is China growth...

This video was aired May 13, 2009. A lot has happened since then. I am curious if the current situation in China remains as bleak.

[Verrocchio]

Re: The myth that is China growth...

The video is spot on. The host even stated that the US economy was based on consuming and asset inflation. The Chinese regime is very aware of the high potential for domestic unrest among the legions of unemployed. The current government would not be the first imperial dynasty to fall because of dissatisfaction among the peasants. This ancient tragedy may be restaged.

[touchring]

Re: The myth that is China growth...

The video is spot on. The host even stated that the US economy was based on consuming and asset inflation. The Chinese regime is very aware of the high potential for domestic unrest among the legions of unemployed. The current government would not be the first imperial dynasty to fall because of dissatisfaction among the peasants. This ancient tragedy may be restaged.

So how will the peasants revolt? They don't carry automatic weapons like you do in the US.

[jpatter666]

Re: The myth that is China growth...

So how will the peasants revolt? They don't carry automatic weapons like you do in the US.

Agreed. If anything I'd expect China to place blame on America and the bankers. Time for China to "take charge and bring order".

Worst case scenario they swallow hard and dump the dollars, then wade in and organize the mess. I think the Chinese would be able to take such a setback much more pragmatically than here in the US where many of the lemmings would just run off the cliff.

I become more jtabebish each day. The horror! The horror! ;):p:rolleyes:

[LargoWinch]

Re: The myth that is China growth...

Thanks doom&gloom.

[Verrocchio]

Re: The myth that is China growth...

So how will the peasants revolt? They don't carry automatic weapons like you do in the US.

I personally don't carry automatic weapons in the US. However, more to the point, it isn't difficult to find examples of popular uprisings against thuggish regimes (in post-Soviet Eastern Europe and the Phillippines are examples that come readily to mind).

One scenario in the PRC (although when the hounds of war/revolution are unleashed, no one knows just where they will run or what time will pass before they are put back on the leash)...

Unemployment/Lack of Opportunity + Knowledge of Endemic Corruption --> Acute Dissatisfaction --> Anger + Resentment --> More Frequent Riots + Other Confrontations with PAP and PLA --> Widespread Dissatisfaction --> Insurrection --> Regional Military Forces Begin Contending --> Rivalry Among Key Players in Central Government Breaks Into Open --> Civil War --> Stability

[touchring]

Re: The myth that is China growth...

Although I believe that China's growth is a myth, but the US is in worst shape, it maybe contracting at as much as 5-10% a year in real terms for the last few years.

[jk]

Re: The myth that is China growth...

how about unemployment + too many young males relative to females handled by increased nationalism and global tensions, increased militarism, increased size of armed forces, increased military budgets [talk about domestic consumption!]

[Verrocchio]

Re: The myth that is China growth...

how about unemployment + too many young males relative to females handled by increased nationalism and global tensions, increased militarism, increased size of armed forces, increased military budgets [talk about domestic consumption!]

This chain seems to lead inexorably to military conflict -- the predicted outcome of the Elliott Wave theorists and, recently, of Dr. Doom, Marc Faber.

[kartius919]

Re: The myth that is China growth...

You don't need Elliott wave to predict crap. How many times can the elliott wave theorist get it wrong before people realize they're frauds? You just need to open a history book.