'None of this debt can be repayed'... doom doom doom. He has a pretty interesting view on thing that's for sure. I think it comes from his ability to think like an evil mastermind.
Monday, February 27, 2012
World Bank admits China might bust....realizes this five years after everyone else
http://money.cnn.com/2012/02/27/news/economy/china_world_bank/index.htm?iid=HP_LN
"The World Bank and a Chinese think tank have a stern warning for China's government: transition to a freer market system, or else face an economic crisis." says the bailout fund of the world.
We all know that China needs to transition. I don't see how they have any money when this is the top report coming out of the world bank.
Interesting though: "Critics point out that China cannot maintain rapid growth under this system forever. Emerging economies tend to start slowing when their GDP reaches about $16,740 per capita"
This is due to the fact that in a globalized world, all economies and wages will tend toward equilibrium. If it costs more to do business in one country, people and the businesses will shift over time to the cheaper country, thus driving up wages in the cheaper countries. Wages work the same way and if this isn't happening (like in the US), you have to blame the government for preventing the shift and keeping the richer rich.
"The World Bank and a Chinese think tank have a stern warning for China's government: transition to a freer market system, or else face an economic crisis." says the bailout fund of the world.
We all know that China needs to transition. I don't see how they have any money when this is the top report coming out of the world bank.
Interesting though: "Critics point out that China cannot maintain rapid growth under this system forever. Emerging economies tend to start slowing when their GDP reaches about $16,740 per capita"
This is due to the fact that in a globalized world, all economies and wages will tend toward equilibrium. If it costs more to do business in one country, people and the businesses will shift over time to the cheaper country, thus driving up wages in the cheaper countries. Wages work the same way and if this isn't happening (like in the US), you have to blame the government for preventing the shift and keeping the richer rich.
Sunday, February 26, 2012
VIDEO-GoldSeek Radio's Chris Waltzek talks to Dr RON PAUL - Feb 14, 2012
Try having a conversation like this with Mitt Romney or frothy...brilliant.
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