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Post by glennkoks on Jul 8, 2015 13:12:06 GMT
Maybe the last 10 years of Chinese economic data was fudged. And the last ten years of Chinese corporate earnings were fake too. When it came down to it they could not maintain the lie. Walnut, Everyone knows they fudged the data nobody knows just how much they fudged the data.
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Post by walnut on Jul 8, 2015 13:58:18 GMT
Maybe the last 10 years of Chinese economic data was fudged. And the last ten years of Chinese corporate earnings were fake too. When it came down to it they could not maintain the lie. Walnut, Everyone knows they fudged the data nobody knows just how much they fudged the data. I always assumed it, but I never heard the issue discussed by the talking heads on Bloomberg or CNBC.
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Post by duwayne on Jul 8, 2015 19:38:33 GMT
It looks like the centrally controlled Chinese economy is starting to come apart at the seems. If the mother of all bubbles is about to pop everyone better get ready for the worst. It may be time to buy gold because if it really comes unwound there are going to be millions and millions of Chinese looking for any "safe" investment to put their few remaining Yuan into. You can count on the Chinese Bureaucrats to blame "outside forces" for the inevitable and as expected they are. I'm worried about what those in power may do in China to divert public anger. www.bloombergview.com/articles/2015-07-06/china-s-bull-market-in-conspiracy-theoriesA Chinese friend who worked for me several years ago when my engineering department designed and started up 4 plants in China, sent an Email a week ago which indicates things are changing in China. The Chinese used to be extremely fearful of their government for good reason. For example 1 day when I was there, the plant manager of a refrigerator manufacturer near our location was shot on public square by government order because of the poor quality of the refrigerators. Recently, however, the local citizens have begun to demonstrate against their government. They held a demonstration march which started in Jinshan and ended up 120 miles away in Shanghai. This not only shows that the local people are unhappy with some of the things that are going on, but more importantly, they are no longer going to keep quiet, and furthermore, local law enforcement was not inclined to step in to stop the demonstrations. This is only one incident but it is something which my friend tells me is highly unusual since the days of the Tinanamen Square demonstrations.
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Post by glennkoks on Jul 8, 2015 19:57:15 GMT
duwayne,
You can't have "free markets" without a free people. Now that the Chinese people have a taste of free markets and private ownership they will only want more. Those in power are fearful of the population and if anything can be learned from history it is that people in power don't usually give it up voluntarily.
I don't see a happy ending in China. The Chinese economy is a house of cards built and manipulated by a central government. When billions of the Chinese people lose their life savings they will want accountability. Once you have given up the bicycle for an automobile you don't want to go back to riding the bike as your primary method of transport.
I am no Warren Buffet but if I were a Chinese citizen I would look long and hard about putting whatever wealth I had left into something solid like gold, diamonds etc...
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Post by sigurdur on Jul 9, 2015 0:49:12 GMT
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Post by glennkoks on Jul 9, 2015 1:53:58 GMT
Gold is not doing well at all. I am wondering if that is going to change when the Chinese people realize the house is on fire and start looking for safety.
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Post by sigurdur on Jul 9, 2015 3:19:17 GMT
Gold is not doing well at all. I am wondering if that is going to change when the Chinese people realize the house is on fire and start looking for safety. The idea of gold as a safe haven has been lost. When it was freely bartered for goods and services, it had a value. Now the value is set via industrial use, as it has become a commodity. Same can be said of silver. When electronics became widespread, the price of gold became just like wheat. Supply/demand.
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Post by nonentropic on Jul 9, 2015 3:24:36 GMT
I think the Chinese will be largely fine. The transition from a communist brutal world to fully functioning major economic power is unlikely to be totally smooth. The Chinese economy has grown spectacularly over the last 20 years and yes there will be over reporting and positive spin reporting but these are the relics of communism not the open market way. So the share market falls 50% that's just a return to sanity.
The Chinese state holds several trillion dollars of US securities and will be prepared to purchase economic performance. Compare that to our precarious economies that we are so wonderfully comparing to the Chinese economy.
Will growth hold to 7%, unlikely, but will they fall to the levels we are so proud of like 3% I'm not sure.
That's my take on it but do hope that their aggregate demand continues to grow because its very welcome for a lot of people.
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Post by sigurdur on Jul 9, 2015 15:20:02 GMT
Hillary Clinton’s Economic Agenda Aims at a Party Moving Left:"Her most ambitious ideas, which her advisers say are designed to help families, include prekindergarten for all 4-year-olds, expanded access to child care, paid sick days and paid family leave, helping to make college students “as debt-free as possible,” a higher minimum wage, company profit-sharing for employees, legal protections for people in the country illegally, and more financing for medical research." www.nytimes.com/2015/07/10/us/politics/hillary-clinton-economic-agenda-aims-at-a-party-moving-left.htmlWow that's a lot of government spending which can only come about with more government taxes, which can only mean high deficits...right? Mandatory profit sharing for employees? You have to excuse Mrs. Clinton. Her message shows economic illiteracy. Besides, who believes it? Every time her lips move a lie seems to come out of them.
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Post by sigurdur on Jul 9, 2015 15:43:18 GMT
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Post by sigurdur on Jul 9, 2015 16:33:34 GMT
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Post by Ratty on Jul 9, 2015 22:12:06 GMT
Hillary Clinton’s Economic Agenda Aims at a Party Moving Left:"Her most ambitious ideas, which her advisers say are designed to help families, include prekindergarten for all 4-year-olds, expanded access to child care, paid sick days and paid family leave, helping to make college students “as debt-free as possible,” a higher minimum wage, company profit-sharing for employees, legal protections for people in the country illegally, and more financing for medical research." www.nytimes.com/2015/07/10/us/politics/hillary-clinton-economic-agenda-aims-at-a-party-moving-left.htmlWow that's a lot of government spending which can only come about with more government taxes, which can only mean high deficits...right? Mandatory profit sharing for employees? Vote bribes?
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Post by walnut on Jul 10, 2015 0:07:50 GMT
free cell phones bought one election lately. This country's voters are cheap hoars (sp).
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Post by sigurdur on Jul 10, 2015 0:08:49 GMT
free cell phones bought one election lately. This country's voters are cheap who res. Yep, another gift from GWB.
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Post by sigurdur on Jul 10, 2015 15:59:25 GMT
The list of things 15-year-olds are not legally allowed to do in Oregon is long: Drive, smoke, donate blood, get a tattoo -- even go to a tanning bed..... But, under a first-in-the-nation policy quietly enacted in January that many parents are only now finding out about, 15-year-olds are now allowed to get a sex-change operation. Many residents are stunned to learn they can do it without parental notification -- and the state will even pay for it through its Medicaid program, the Oregon Health Plan. www.foxnews.com/politics/2015/07/09/oregon-allowing-15-year-olds-to-get-state-subsidized-sex-change-operations/Wow....... And a 15 year old is mature enough to do this without regret? ?
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