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Post by judes on Dec 10, 2008 19:41:33 GMT -6
theautomaticearth.blogspot.com/I have only just found this site, and just started perusing some of the rather lengthy posts. But I find it to be a very interesting collection of thoughts, and informative posts here.I don't know anything about the authors or their views, but it is pretty good economic reading I have found so far.
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Post by unlawflcombatnt on Dec 11, 2008 23:16:27 GMT -6
It's an interesting site, though they seem overly wrapped up in the idea that Chinese growth somehow props up growth elsewhere. To the contrary, if Chinese exports exceed imports, then some other country (like the US) is losing GDP through a worsening trade balance. Chinese "growth" has never done anything but worsen US growth, by displacing US producers from the US consumer market.
It's also interesting to hear the parallel to US Housing Bubble's "who could have known?" argument. In this case, it's 'who could have known' that Chinese growth would slow down this much, just because growth slowed down in the countries that China exports to.
What else did they expect, when the China's economy is completely dependent on export sales for ALL of its growth?
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Post by judes on Dec 12, 2008 19:11:21 GMT -6
Yeah, kinda like what else did they expect from the continual outsourcing of good paying American jobs, other than a full scale economic melt down, being that the American consumer was the real global economic engine.
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Post by unlawflcombatnt on Dec 12, 2008 23:50:09 GMT -6
being that the American consumer was the real global economic engine. Very well put, Judes. The US consumer certainly is the engine of global economic growth. This has been made crystal clear by the current worldwide depression. Even the media's financial analysts (propagandists) acknowledge that US consumer spending is 20-30% of world GDP. (World GDP is $45-50 trillion, while US consumer spending is about $10 trillion.)
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