Comments on: China to U.S. – I still care for you. But as a friend https://www.golemxiv.co.uk/2010/06/china-to-u-s-i-still-care-for-you-but-as-a-friend/ Author of THE DEBT GENERATION Thu, 06 May 2021 15:37:03 +0000 hourly 1 https://wordpress.org/?v=6.7.1 By: theprofromdover https://www.golemxiv.co.uk/2010/06/china-to-u-s-i-still-care-for-you-but-as-a-friend/#comment-461 Fri, 18 Jun 2010 11:12:58 +0000 http://www.golemxiv.co.uk/2010/06/china-to-u-s-i-still-care-for-you-but-as-a-friend/#comment-461 The Chinese position is not fully co-ordinated; remember, everyone knows the Chinese are inveterate gamblers.
Inveterate means they can't help themselves, and it is not just gambling with their loose change, it is in everything they do. They are gambling on minerals, exports, property, currencies, jobs.
I am sure China is busy making similar (but different) catastrophic mistakes just like us in the West.

]]> By: Tim https://www.golemxiv.co.uk/2010/06/china-to-u-s-i-still-care-for-you-but-as-a-friend/#comment-458 Fri, 18 Jun 2010 08:25:20 +0000 http://www.golemxiv.co.uk/2010/06/china-to-u-s-i-still-care-for-you-but-as-a-friend/#comment-458 "But short of shooting reluctant shopers to encourage the others, stimulus policies are simply not working. " &
"Well if you want to build a domestic market you need workers who have some cash to spend."

…This is one of the things that grates with me. It seems to me, and I've no idea about economics in general, that a lot of the excessive credit lending over the past decade was necessary to compensate for stagnant wages due to outsourcing and increasing prices (in terms of food, fuel, housing, etc, but at least there were cheap flat screens and flip-flops) , at least in Europe. The boom wasn't a boom for your average Joe, unless he already had or found access to property, or maybe benefited indirectly through work. But you keep squeezing, through inflation, stagnant wages, outsourcing, etc, and then panic because no one is consuming. Yeah, well, you see, you took all their money and left them without work. Blood and stones, etc.
Anyway, just wanted to say that I really liked that mental image of riot police marching people into shops at gun-point: "YOU SHALL CONSUME!", pour encourager les autres, etc.

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