Economic differences...China and US...

[suspectnumber961]

The Contrasts Between America and Her Rivals
Are Striking ... If Not Downright Terrifying

It must even be apparent to the president himself: On a recent trip to Cambodia, only a few small groups of curious citizens appeared to watch Obama's motorcade speed through the streets of Phnom Penh.

America's rapid decline is especially obvious when it comes to economic matters:

A generation ago, America was still the manufacturing hegemon of the world. Now our manufacturing has been shipped offshore. A creditor nation only a generation ago, America is now a debtor nation.

America hasn't had a trade surplus since 1975.

The American savings rate today is only about a third what it was when Ronald Reagan was elected.

Now the Chinese are role models for saving. It has made them richer, even as we have become poorer.

Our status as a prosperous manufacturing empire has given way to a bankrupting and crumbling military empire. One that has left Americans staggering under trillions in debt.

Our prosperity has been traded for a mess of welfare state/warfare state pottage.

Meanwhile, China's commercial empire is spreading across the world at breakneck speed.

Where we have deployed troops at ruinous expense, China has deployed dealmakers.

It is a reality of stunning irony. For example, China became the first foreign nation to sign a multibillion-dollar oil deal with Iraq after the fall of Saddam Hussein!

In grand capitalist manner, China has been tying up resources throughout the Mideast — all across Africa, and even in the Americas.

Meanwhile our own economy, burdened by debt that will never be paid, is in intensive care. For those relying on the government's promises, the prognosis is grim.

Despite a temporary slowing in growth rates, China's economy is expanding more than three times faster than ours is and will soon eclipse ours in size and wealth.

With more than $16 trillion in public debt and $222 trillion in total obligations, Washington is debtor to the world — begging and borrowing every penny it can lay its hands on to finance our ruling class' scandalous vote-buying schemes.

With more than $14.4 trillion in capital reserves, China — an economy that was once devastated by collectivist government policies — has become the world's No. 1 lender.

Recently, we learned that America's manufacturing base is shrinking again; the ISM index is plunging to levels not seen since 2009.

Meanwhile, China's manufacturing base continues to expand at break-neck speed despite the massive slowdowns both in Europe and the United States.

Today China considers its 7 percent annual growth rate a slowdown. Growth at that pace would be considered a miracle here.

China's credit rating is "AAAA" — the best in the world.

America's credit rating has been downgraded and is in constant danger of additional downgrades as we face the Fiscal Cliff.

The rest of the world has become more friendly to capital — and capital formation — than it has ever been.

But here in America, the principles of the U.S. Constitution ... the rule of law ... the individual's rights to his own property ... are being systematically destroyed.

Now, with Washington spending all it has ... borrowing all it can ... and finally PRINTING trillions of dollars to feed its insatiable hunger for ever-greater political power ...

The U.S. dollar, which was once as good as gold, is deteriorating before our very eyes.

It has lost more than 66% of its buying power and nearly tripled your cost of living since 1980: To live as well as you could have on $20,000 in 1980, you'd need an income of nearly $54,000 today.

Charles Goyette

[shovel]

He forgot to mention that the sky is falling.

Inequality always leads to instability, this is true of electrons, of pressure differentials among any substances, of elevations, of economies and of society - just about anything you can think of, the greater the inequality the greater the instability.

So, that's the game. I'm going to work, gotta' be there in 20 mins.

[tru]

china has big problems... its not nearly as cheery as your post sounds. China also doesnt play by the same rules in reagards to... just about everything, so a direct comparison to the US is nearly impossible.

[gone-ot]

...it's the "World Teeter-Toter" effect: as the China-end goes UP, the USA-end goes DOWN.

[shovel]

Originally Posted by Old Tele man

...it's the "World Teeter-Toter" effect: as the China-end goes UP, the USA-end goes DOWN.

Well we've been sending them jobs and money as fast as we possibly could, what did you expect was going to happen?

[Xist]

Does anyone recognize her shirt?

[gone-ot]

Originally Posted by Xist

Does anyone recognize her shirt?

No, but I've seen that LOOK too many times from my wife (ha,ha).

[suspectnumber961]

Here is what happens when corporations and multinationals control the govt....corporations that are 92% owned by the top 1%......

...jobs go to the lowest bidders............. China and the robots?

This piece makes it seem like it's Obama's fault and that people are lazy.....reality is that it's more the fault of the above mentioned....corporations and multinationals who control the govt and the media....for profit.


Right before the 08 meltdown I remember seeing on the news a segment on how wonderful it was that the US was exporting jobs to those lucky Chinese.

Ever wonder WHY you never hear about what is going on in Greece....Italy...Spain on the Nightly News? Is it because we are next?

Unemployment and Poverty in America: 75 Economic Numbers From 2012 that are Almost too Crazy to Believe…

[niky]

Wait, China is better than America? Because they kept their masses in an artificially induced poverty for decades to ensure manufacturing jobs moved over there, they engage in industrial espionage and market manipulation, and spend billions on useless infrastructure development? Oh, and to prop up a slowing economy, they fake a war with Japan to spur local auto sales?

Just wait... China has set itself up for a massive real estate bubble collapse similar to the 97 Asian financial crisis. Overbuilt, overpriced and with not enough buyers, thanks to the global recession and the "war" with Japan cutting back industrial jobs.

[suspectnumber961]

China has a history of going bonkers socially....but who knows? I hear a lot of wealthy Chinese are buying property outside the country...when it hits the fan...they leave?