You've all seen this commercial about the Chinese
- Thread starter GG2
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Really???
Thought this was a thread delving into the fruits....or lack thereof...resulting from ramifications of a couple competing economic policies. one is severe decent while the other is ascending.
Perhaps that nuance in thinking is lost to you....
Sounds like you are a fanboi of fools gold.
BTW, next time you may try to tell Obama as Judas for stonewalling your natgas shilling. See what happen.
Speaking of natgas, not going to be surprised you hate Josh Fox. No?
LOL. Maybe the video is not "racists" if the people in the video are Germans. No?
Speaking of racism, is he a racist? Would he do the same publicity stunt if the POTUS is white? Just asking.....
In this case likely yes.LOL. Maybe the video is not "racists" if the people in the video are Germans. No?
Speaking of racism, is he a racist? Would he do the same publicity stunt if the POTUS is white? Just asking.....
The commercial is about debt
Who knows. I would tell for sure if this dude Rui (Chinese last name, not Portuguese first name) did similar trick on Joe Biden or Hillary Clinton.
BTW, Peckkkr was silent on this last time. Hmm....
I don't think Chinese people would particularly disagree with the point in the commercial. In fact, I think the Chinese government has been quite vocal about the need for Americans to get their debt under control.
The problem is the commercial plays a shell game.
It gives the impression that the sensible thing to do is cut GOVERNMENT spending, but the problem that has indebted the United States to China is, at a macro level, not a government spending problem, but the average American living beyond their means. It's individual Americans who need to cut back their consumption and increase their productivity if the trade imbalance is going to be corrected.
It hasn't really got a lot to do with GOVERNMENT spending.
The problem is the commercial plays a shell game.
It gives the impression that the sensible thing to do is cut GOVERNMENT spending, but the problem that has indebted the United States to China is, at a macro level, not a government spending problem, but the average American living beyond their means. It's individual Americans who need to cut back their consumption and increase their productivity if the trade imbalance is going to be corrected.
It hasn't really got a lot to do with GOVERNMENT spending.
Of course the Chinese government has vested interest to make sure their USD reserves are not getting worth-less day by day.
Buying Gold as an alternative is not promising either as the spot price goes nuts and more importantly the US has the largest gold reserve on earth.
Maybe not so for those conspiracy theorists and their gold bugs pal who are in overdrive to convince the uninformed or spread the rumor mills that the gold reserves the US have at Fort Knox are bogus.
Meanwhile, the Chinese are in the rock and hard place now that their outrageous size of stimulus as a percentage of their economy size in 2008 come home to roost, while the power of QE2 and an army of hedge fund managers/speculators around the world are right at the door steps...trying to make big deals in that neighborhood.
Perhaps they could count their "blessing" when RMB/Yuan is not freely convertible, like having a fertile ground for the "banksters" and their hitmen partner, aka the rating agencies to supercharge the volatility. LOL.
Actually it's all of the above.
Pretty hard to kick the "habits" of spending like crazy.
Yup, don't worry folks there isn't any problem at all with the U.S. National Debt. Just keep borrowing money hand over fist, after all most of us will be out of office by the time the chickens start comming home to roost.
LOL...that attitudes remind me of John Connally.
Doubtful John would be that lack of class to show 2 middle fingers to the delegations of non-Americans.
Look at these shocking statistics. You have to wonder - at some point the government HAS to shrink. But for now it just keeps expanding. There isn't enough tax dollars to go around.
http://online.wsj.com/article/SB10001424052748704050204576219073867182108.html
"If you want to understand better why so many states—from New York to Wisconsin to California—are teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government.
It gets worse. More Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined. We have moved decisively from a nation of makers to a nation of takers. Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees. Is it any wonder that so many states and cities cannot pay their bills?"
http://online.wsj.com/article/SB10001424052748704050204576219073867182108.html
"If you want to understand better why so many states—from New York to Wisconsin to California—are teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government.
It gets worse. More Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined. We have moved decisively from a nation of makers to a nation of takers. Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees. Is it any wonder that so many states and cities cannot pay their bills?"
This is a macro economic issue. The Chinese sell more goods to the U.S. than the U.S. sell to the Chinese. That necessarily means that somewhere, somehow Americans have to borrow the money for the goods they buy from China. It shows up primarily in the form of Chinese foreign exchange reserves, which are comprised of government debt.
You would be misleading yourself, though, to think this is purely a government debt issue. This is a consumption issue and a productivity issue. Americans are living well beyond their means and the only way to correct this is to consume less and work more.
Some of that consumption comes in the form of government provisioned benefits and services, but the lion's share is private consumption. Note that private debt can make its way into the public book by way of foreclosures, nationalization of industries, bankruptcies, job losses (unemployment and welfare payments), and a variety of other mechanisms that clean up the mess that is made when a private citizen spends beyond their means. It LOOKS like government debt--but what really caused it?
The commercial gives you the false impression that this can be resolved by cutting government spending. That's only a small part of the problem--so long as Americans consume more than they produce the borrowing has to show up SOMEWHERE, and almost certainly, it will continue to show up as the Chinese holding large quantities of American bonds.
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America doesn't make things anymore.
Workers used to be treated as a component of our National Defense! Now workers are abandoned. Workers used to collect a paycheck and pay taxes. Now workers collect UI and Food Stamps! Most manufacturing jobs have been sent offshore which is the real reason the USA is imploding now.
We are reaping the bitter harvest of Globalism....
Actually it should be America does not make low to mid value things anymore. Complicated tax codes and inconsistent/flip-flopping policies create more uncertainties for any SME who genuinely wish to build America.
Sounds like the pinkos/liberals steal the same tact from the teabaggers and dittoheads when it comes to spread fear, binary thinking and more importantly half-truth/half-facts.
More like the Americans are reaping the bitter harvest of being complacent, cut corners and more importantly comical political system.
BTW, a friendly reminder Obama is MIC owned, just like Jimmy Carter.
Perhaps this might be his key to get re-elected in 2012. No?
hinz
Just curious, your on OxyContin, NO?
That's some nice Karl Rovian spinning you do and all BS!....
Just curious, your on OxyContin, NO?
That's some nice Karl Rovian spinning you do and all BS!....
