China's Brilliant! Market Strategy
Got to love it. People can buy all they want and put their houses up as collateral. Buy if you sell, or, worse yet sell short, you risk going to jail.
Now what could possibly go wrong with that plan?
Now what could possibly go wrong with that plan?
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31 comments
So how, in a country like China, can this happen?
http://www.businessinsider.com/the-21-ri…
For China, the government recently opened up the economic barrier to allow trades. So people with connections (and are smart) can get rich. But at the same time, those rich people are scared that one day, the government will just come in and take their assets (just like in the 60s and 70s). This is why you hear stories about rich Chinese people buying up real estate aboard.
The Communist governments take your assets but they do so selectively. If you are friends with the government officials who can shield you, you are ok. At the same time, this is why in those countries, one sure way to have a good life is to become a government official.
This is why Communism sucks in practice. But if you are with me so far, you will realize the reason it sucks in practice has nothing to do with the way Karl Marx described Marxism in theory.
he told me they used to give officials over there all this free shit to get their products in, well those days are over and they found out the economy for such goods was massively over inflated and people over here lost their jobs over it as they were to be the support system for all these new sales. ugh sounds like 2008 all over again jist multiply it by 10
SJG
Are we admitting that Stevie boy was...
Gasp.... Right?????
do you work in a boiler room making cold calls to senior citizens convincing them to "invest" their life savings with you?
cool....
They just need to use elliotwave analysis and Fibonacci and fractal patterns to understand how the market moves naturally and then their own plunge protection team that can buy trillions of stocks like our government has. Of course if the elliotwave analysis calls for a 38% drop of the entire rise, then time the selling with some major news event so that everything looks predictable to the masses who want to believe the markets move because of the news of the day.
Sooner the BS economy crashes, sooner people can start employing their own actual talents to do good things.
SJG
That would be interesting, studying the trajectory Europe has gone on, versus the US, and seeing where the departure occurred, and why.
Certainly the main departure would be after WWII, and I think during the 60's. For one thing, in Europe the Right was discredited, seen a pro Nazi. In the US our Right never has been discredited. It still goes on.
And then actually in Canada, their single payer health care system was originally modeled on the US Medicare system.
But anyway, the US is far richer than Norway. We can have everything the European countries have. It is not just higher taxes which are the issue, it is simply that we start using our wealth to create life support. This is what Buckminster Fuller calls it, it is what lets us live.
We have lots of dollars, but not enough sense. Acting like we are too poor to have universal health care access and a social safety net.
One thing is different about the US. This is just about the only industrialized nation where a parent can disinherit their child.
What this seems to rest on is some deep condemnation of some people, or the need to earn approval to have legitimacy. I think there was a time when people were coming to see that this was a problem in the US. But in the years since with the rise of an economic and religious right, the problem is getting worse.
Now if we can change how we are, of course that is better than being forced to by another Great Depression. But if we cannot change, then there is going to have to be another Great Depression. So I say that the sooner it happens the better. Continuing business as usual accomplishes nothing and makes all sorts of problems worse.
Financial Parasites, all the growth in the financial sector and for the 1%. The parasites destroy us because they are able to convince us that their way is the right way. The parasite kills the host by convincing the host that it is part of the host.
http://www.democracynow.org/2015/8/25/ca…
SJG
https://sites.google.com/site/sjgportal/…
Eisenhower-Kennedy 90% + taxation and spending levels
FDR's massive public works, and then rearmament, programs
These are the things which built the modern middle class. Without them we move towards a nation of very rich and very poor, as most societies have been.
Dougster's boom and bust cycles, like the one which got him his first job, work to continue the destruction of the middle-class.
Dougster, whether he understands it or not, is a stalking horse for the Libertarians and Ayn Randians.
But enough now. Dougster has changed ( I hope ) and he and I are working on our television program, "How to Pay Hookers for Sex".
https://www.tuscl.net/postread.php?PID=3…
SJG
https://sites.google.com/site/sjgportal/…
If the US market goes up longer than 3 days, US 3 month treasury yields go up and then we can worry about when the fed will raise rates.
I heard recently about a farmer losing all his land and his means of living for his entire family by losing badly in the Chinese stock market. He borrowed against the farm to buy stocks.
Others bought stocks on credit. It sounds like 1929 was last year in China.
China built whole cities with skyscrapers that are empty. Banks are worried about making bad loans. hmmm, wonder why? It may not be all bad. China has over a billion people and if they tell 200,000 people they have to move to a new empty city, they have to. I think.
I heard they used more concrete and steel in the last 6 or 7 years than the US used in the entire 20th century. hey, at least they have nice new cities to show for it.
It might not all be that bad, officially their growth rate is still about 6% I think I heard. slowing down from the former 7 or 8% rate they had. yep china is slowing down. doomsday ahead.
meanwhile the us needs to cut spending or grow our economy at an 8% rate per year to sustain our debt and liability level or we'll end up like Greece sooner or later.