Sunday, September 13, 2015

Two Points: ** China is now acknowledged as a primary leader of global economic trends. ** China will better managed the apparent down-swing much better than everybody else, as its %growth is still in the middle single digits and it has the  means to mollify any domestic disruptions. The message to the rest of us is "Sauve qui peut !" Blaming China has no effect and will not change anything. Can global capitalism 'revive itself' without Chinese - made profits ? The ball is on our court. The bankster's 30 year globalization scam coming home to roost.  There was no economic miracle - all that happened was the banksters shifted tens millions of jobs from west to east so they could pay eastern wages while charging western prices and this made them very rich.  But how could western demand be maintained to pay for all those (now imported) goods if tens of millions of well paid jobs were off-shored?   They got their puppet western politicians to keep the scam going with debt.  And now western credit has run out the off-shored economy has no one to sell to and so it's all going down.  The sickening thing is the banksters responsible for the coming disaster will run off to their private islands when the crash comes and watch the starvation they caused on TV - if there still is TV.  Perhaps instead of blaming one or a few countries for impending monetary problems all governments have to look at their spending. None that I have heard manage to reign in spending and have a balanced budget. Europe wants to keep maximum time off, minimum man hours while maintaining social programs. See Greece as end result. The US has gone down the sewer with profligate spending. Bush's spending was terrible, Obama has more than doubled the trouble Bush left the country. Soon, regardless of wealth, there will not be enough fully employed workers to fund what the government has decided is entitled to leeches. Unless the food chain is broken, economically we would seem doomed. It is not entirely China's fault.

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