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Post by nautonnier on Jul 9, 2020 11:42:15 GMT
"Bank Runs In China Posted on 8 July 2020 by E.M.Smith
The dragon begins to fall…
China has launched a pilot programme in the northern province of Hebei requiring the public to apply for approval if they plan to make large cash deposits or withdrawals at commercial banks.
The regulation comes after a series of bank runs in the past year at debt-laden small lenders and as an unprecedented pandemic-related economic contraction starts to take a toll.
From July 1, residents in the province will need to provide information about the source of deposits or the purpose of withdrawals for transactions over 100,000 yuan (US$14,162) for individuals, and 500,000 yuan for corporations, the state-backed China Securities Journal reported last week."chiefio.wordpress.com/2020/07/08/bank-runs-in-china/So if the 3 gorges dam were to fail things could become ugly in China very quickly
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Post by nautonnier on Jul 9, 2020 21:03:03 GMT
Strange I have heard nothing in the media about this.... I wonder why
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Post by walnut on Jul 9, 2020 22:24:51 GMT
Strange I have heard nothing in the media about this.... I wonder why "Guns blazing" ? I really doubt it.
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Post by missouriboy on Jul 9, 2020 23:37:17 GMT
Walnut. Are you officially on the reservation now? With the Supremes new ruling.
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Post by nautonnier on Jul 14, 2020 1:45:28 GMT
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Post by missouriboy on Jul 14, 2020 14:50:06 GMT
'People are getting fed up': 'Masked antifa in Portland opened a black man’s car door' and it was a REALLY bad idea
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Post by walnut on Jul 14, 2020 15:02:27 GMT
Don't open my door, seriously bad idea, I won't deal well with that. I spoke with a trucker yesterday, he said that his company told him that if stuck in a riot on the roadway, honk once, then pedal to the metal forward. 'People are getting fed up': 'Masked antifa in Portland opened a black man’s car door' and it was a REALLY bad idea
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Post by nautonnier on Jul 14, 2020 15:07:58 GMT
'People are getting fed up': 'Masked antifa in Portland opened a black man’s car door' and it was a REALLY bad idea Interesting flak jacket the driver was wearing and a neatly exercised ankle throw too - I get the idea that wasn't a random person out for a McDonalds
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Post by nautonnier on Jul 14, 2020 18:23:56 GMT
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Post by walnut on Jul 14, 2020 19:31:03 GMT
My son says that this is from a 2015 Paris music festival. The guy died
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Post by nautonnier on Jul 21, 2020 12:21:26 GMT
There is a huge change in progress worldwide.
Remote working was forced on businesses and it has been successful. Bean counters have noticed.
So no business trips, no commuting, entire industries like aviation are going to need to revisit their business plans. Regardless of the repeated talk about tourism, airlines make (made) all their money from the business fliers. The profit made on a flight say from Atlanta to New York is often less than $1000 - one business class passenger extra (rather than a freeloading frequent flier) can double the flight's profit. But similarly one business passenger less makes the flight unprofitable.
Why would people even commute into the 'big cities' like NYC or London or Sydney, when they can stay at home and do the same work? As many have been.
Cities exist so that people can get together and work in teams - for some time that capability has been available - I was doing that in the mid 80's. But now it has moved from the geeks - into the normal commercial world and younger generations really don't see any difference between meeting and texting. So who is going to commute in discomfort into the cities? A few particular tasks yes but not the mass of office workers. If they don't go into the cities a lot of city restaurants/bars will close without clientele. The systems for commuters will also not be used so much be reduced making commuting more difficult.
In ten years time the world will be a completely different place. Widely distributed working. The Agenda 21/2030 view of large urban centers is already an anachronism.
This makes the next elections in the US and worldwide very important - the impact will be to reduce the numbers of people living in closely packed urban centers which could reduce the sheeple power in the confirmation bias bubbles - swapping them for 'user groups'.
The Chinese COVID-19 has triggered interesting times.
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Post by gridley on Jul 21, 2020 13:00:45 GMT
I am sure there are some jobs that can be done with the same efficiency "remotely" as they can in an office environment.
There are also plenty that can't.
Face to face conversations - and a video chat *isn't* the same as face to face - are more likely to result in *correctly understood* information exchanges. We've spend millennia learning to read body language, tiny facial cues, and subtleties in tone of voice.
Then there's side conversations - "water cooler talk". Sure, much of it is idle chit chat... which helps people get to know each other... and people who know each other tend to work together better. Much of it is also professional. Unofficial information exchanges are the black market of the office, and like black markets they take up the slack when official channels fail.
Plus let's not forget that for most people social isolation tends to result in depression, reduced health, etc.
And then there's the myth of infinite bandwidth. I live within commuting distance of a second-tier city and an easy day trip for a major one. I do NOT have unlimited data, nor unlimited bandwidth. That means massive zoom meetings aren't seamless. Downloading files at my desk at work is a matter of seconds. Those same files take minutes at home - which doesn't sound like a big deal until you've got 20 people on a video conference waiting for the file to open.
Will lots of companies increase working from home? I'm sure they will. And for some of them it will work fine. Heck, I wouldn't be at all surprised if for a few things it works better. But other companies (in other industries, or just with different management) are going to see productivity drop. It will probably take a while to fully realize the consequences - for one thing, there's a big difference between overall productivity and productivity per hour, for another, no one likes to tell the CEO that his new "work from home" initiative is bleeding the company to death - but we'll see businesses survive the panicdemic and go bankrupt in the aftermath.
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Post by blustnmtn on Jul 29, 2020 12:42:56 GMT
Excellent observations in this essay at The Federalist: thefederalist.com/2020/07/29/how-one-voter-one-vote-would-keep-cities-from-controlling-the-country/"Perhaps the most dramatic illustration of this phenomenon is that the cumulative effect of these deviations from a “one voter, one vote” standard across the country could exceed 20 seats, which happens to be Democrats’ margin of control in the current House. Like their slave-owning Democratic predecessors in the time of the three-fifths rule, modern Democrats might be largely dependent for their political power on the extra seats and votes that citizen residents of their sanctuary cities get by including noncitizens in calculating apportionment."
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Post by walnut on Jul 29, 2020 23:14:16 GMT
Interesting ideas being trial ballooned in several articles. www.ft.com/content/7a65b99c-e419-49da-bf47-33acb91ed4a3Compel China to pay their old bondholders, the new regime selectively paid bonds years ago and defaulted on others. Or, use China's default, which is still an unanswered claim, as a precedent to: Cancel Chinese held US Treasuries. Trump said that he was going to "make China pay" for the covid catastrophe. At first that sounds impossible, but I wonder if maybe it could be done, and after some settling out time the US bond rating would be generally unaffected. New investors just want to know that their bonds will be paid. If you don't plan on launching a pandemic against the US, you will be fine. Wouldn't be the first time Trump engineered a plan to screw bondholders. And, right now the world is aligned in anger against China, for various reasons. India, Taiwan, all the smaller Asian countries, UK and Australia. And bipartisan, dems and repubs have no love for China.
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Post by missouriboy on Jul 30, 2020 3:26:14 GMT
Excellent observations in this essay at The Federalist: thefederalist.com/2020/07/29/how-one-voter-one-vote-would-keep-cities-from-controlling-the-country/"Perhaps the most dramatic illustration of this phenomenon is that the cumulative effect of these deviations from a “one voter, one vote” standard across the country could exceed 20 seats, which happens to be Democrats’ margin of control in the current House. Like their slave-owning Democratic predecessors in the time of the three-fifths rule, modern Democrats might be largely dependent for their political power on the extra seats and votes that citizen residents of their sanctuary cities get by including noncitizens in calculating apportionment." Exactly. But us old albino bigots (actually pinkish brown) WOULD believe that wouldn't we? Unfortunate Constitutional verbage on "whole persons". That should be remedied ... but fat chance.
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