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re: China is currently not an economic threat and is imploding internally.
Posted on 3/20/24 at 8:39 am to Earnest_P
Posted on 3/20/24 at 8:39 am to Earnest_P
quote:
I’m beginning to think being American means sacrificing everything at the altar of GDP.
Its an economy built on constant growth, debt and wealth.
Those who dont make enough to build wealth are fricked. The economy is booming for the top 40%, not anyone else.
The halcyon days people refer to were days when people used cash. Today your wealth is king, not your income.
This post was edited on 3/20/24 at 8:42 am
1
Posted on 3/20/24 at 8:40 am to goatmilker
quote:
China's military spending has exploded since 2005.
And?
Have you been following recent developments in China's military?
Posted on 3/20/24 at 8:40 am to GumboPot
quote:
Central planners, financial engineers, and big government lovers hate deflation.
So....China?
Posted on 3/20/24 at 8:40 am to OccamsStubble
Send it return to sender, with crop dusters.
Posted on 3/20/24 at 8:41 am to Earnest_P
quote:
I’m beginning to think being American means sacrificing everything at the altar of GDP.
Stop thinking about it. It's reality.
The federal government in coordination with the Federal Reserve need your production. Without it they cannot control inflation due to their spending.
How does it feel to be on that Federal Reserve treadmill?
Posted on 3/20/24 at 8:41 am to Earnest_P
quote:
I’m beginning to think being American means sacrificing everything at the altar of GDP.
What do you mean by "sacrificing everything"?
And would you prefer economic decline? For what end goal? What would you sacrifice our SOL for to achieve?
Posted on 3/20/24 at 8:43 am to SlowFlowPro
quote:
And do what?
How would I know? Ask xi, but I doubt he tells you.
Posted on 3/20/24 at 8:43 am to SlowFlowPro
quote:
So....China?
Absolutely. The only reason we are not Weimar is due to China being closer to Zimbabwe. It's all relative.
Posted on 3/20/24 at 8:43 am to SlowFlowPro
quote:
What would you sacrifice our SOL for to achieve?
its going to happen eventually.
Hopefully in increments and not at once.
A lot of people have already sacrificed since 2020.
Posted on 3/20/24 at 8:44 am to SlowFlowPro
quote:
What do you mean by "sacrificing everything"?
He means the invisible tax of inflation (that devalues your purchasing power).
Posted on 3/20/24 at 8:47 am to RogerTheShrubber
quote:
A lot of people have already sacrificed since 2020.
I’m sure you’ve been miserable since 2016.
Posted on 3/20/24 at 8:47 am to SlowFlowPro
This is great news and all, but what do we do about the fact that they literally OWN the Uniparty.
Posted on 3/20/24 at 8:48 am to SlowFlowPro
quote:
And would you prefer economic decline?
The current standard is pushing growth through debt. Its now an integral part of the economy.
I dont think we can function without it anymore so we can keep stocks high. That seems like a broken system to me.
At the very least, untried territory and we're spitballing here.
This post was edited on 3/20/24 at 8:49 am
Posted on 3/20/24 at 8:49 am to RogerTheShrubber
quote:
Its an economy built on constant growth, debt and wealth.
There was a brilliant, crazy alt media guy in the early 2000's who said this:
quote:
The US economy, driven by a fiat currency, fractional reserve banking, debt-based financing –- and “doped” with the billions of dollars of drug profits laundered through its corporations and banks –- is a superheated pyramid scheme of infinite growth wherein 5% of the world’s population consumes 25% of the world’s energy and a totally disproportionate share of the world’s diminishing resources and commodities.
I don't know what the answer is when we can't keep building out and furnishing suburbia. Maybe the Mises guys know the way.
Posted on 3/20/24 at 8:50 am to GumboPot
quote:
He means the invisible tax of inflation
I seriously doubt that
I'm guessing he's talking something more align with culture/character.
quote:
that devalues your purchasing power
With a healthy economy, you'll make more money than inflation will devalue your money.
Inflation and deflation are both necessary, and desired within the right situation.
The issue with China is that they do not want, nor need, deflation. This is not only putting them in a potential deflationary spiral (like Japan), but also exposing their lack of a real economy when the curtain is revealed.
China's entire economic system under the CCP the past 30 years has been grown (which require inflation. A lot of it). The US can deal with either inflation or deflation over time. China cannot.
Posted on 3/20/24 at 8:50 am to SlowFlowPro
quote:
What would you sacrifice our SOL for to achieve?
Just going to answer this with a philosophical point:
A standard of living built on financialization is a standard of living built on sand.
A standard of living built on the advancement of the human mind through education, creativity and ambition is a standard of living built on bedrock.
This is why successful people are successful regardless of economic climate.
This post was edited on 3/20/24 at 8:51 am
Posted on 3/20/24 at 8:53 am to GumboPot
quote:
A standard of living built on financialization is a standard of living built on sand.
A standard of living built on the advancement of the human mind through education, creativity and ambition is a standard of living built on bedrock.
We do both. That's why we dominate and have dominated for going on 80 years without a legit enemy. That's why during all of our post-Covid economic and inflationary issues, the USD only got stronger.
This is also why China is failing. for all of their spending and monetary projection, they never built an actual tertiary/quaternary economy/economic population.
Posted on 3/20/24 at 8:53 am to SlowFlowPro
quote:
China's entire economic system under the CCP the past 30 years has been grown (which require inflation. A lot of it).
The kryptonite for MMT is declining demographics. China's one child policy is coming home to roost.
Oh well.
Posted on 3/20/24 at 8:55 am to GumboPot
quote:
The kryptonite for MMT is declining demographics. China's one child policy is coming home to roost.
This hasn't even started to affect them yet.
This decline is a lack of actual economic development within the population.
China is just showing that you can't "skip steps" and it will ultimately fail. They did better than, say, your average SSA country, but it will ultimately fail. This is why India, the Asian Tigers, and other areas of SE Asia aren't going to face the same back slide.
Posted on 3/20/24 at 8:55 am to SlowFlowPro
We are adding a trillion to the national debt every three months. We are being overrun by illegal third world invaders. We have bigger problems.
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