The NYT reports
Liang Huoqiao, a 22-year-old plastics worker, joined a small group of men and women studying a 40-foot-wide list of companies seeking workers.
“You can walk into any factory and get a job,” he said.
…
He expected his pay to double in the next five years and added that he already had set his priorities.
“For sure, I want to buy a car,” he said. “Car first, then maybe marriage later.”
At live oaks high school, government policy is that Red, White and Blue is verboten on Cinco de Mayo.
Compare and contrast with Saint Patrick’s day:
Numerous blogs have objected: x, x, x, x, x, x, x, x, x, x, x, x.
By enforcing what the thugs want, the government endorses and supports that thuggery. The government will empower any group that supports bigger government, for example Mexicans as a voter block, and disempower any group that objects to bigger government. So, predictably, Mexican thugs were empowered by the school administration, the administration being part of the government.
Lots and lots of people are predicting China will crash, though The Money Illusion doubts it. Supposedly, debt fueled construction, decreed by central planners, Soviet style, is sixty percent of GDP – except that there is absolutely no evidence that this remarkable statistic is true. It is not an official government statistic. Where does it come from? If it was sixty percent of GDP, most of the population would be working in construction, which obviously they are not.
People want to believe that China will crash.
Who wants to believe that China will crash?
The people who believe that China will crash also believe that China is a command economy, which obviously it no longer is, except in the sense that Europe is a command economy, and America has recently become a command economy. They also believe in Soviet growth statistics – that the Soviet Union grew just great, at least at first.
Further, those who believe that China will crash, also believe it has already crashed: that China’s prosperity is based on forcing
peasants into grinding poverty in sweatshops on two dollars a day, that China has no middle class (hence the supposed absurdity of the present building boom in china creating vast amounts of middle class housing, offices, and shops), and that Cuba’s quite astonishing health statistics are true.
Their beliefs about China are incoherent, internally inconsistent, and mutually contradictory, showing that they don’t really believe what they believe. I suspect that what they really believe is that basing a society on self interest is morally wrong, and therefore must surely be punished by the heavens. Obviously the right way to run a society is to put people like themselves, who know what is good for society, in charge and then make everyone else do what is good for society, and any society that allows greed to run riot is obviously doomed. Therefore, they subconsciously think, China is obviously doomed, due all the rampant greed that is not properly restrained by good government.
I just don’t hear any one who confidently and sincerely believes that self interest is the proper basis for a society, predicting doom for China.
No doubt China will have a recession, sooner or later. No doubt some speculators will lose their shirts, sooner or later, for in a free economy, speculators take risks, unlike America where the elite gets bailed out by taxpayers when they bungle, but China is growing mightily, and will continue to grow mightily, with the usual minor interruptions from time to time.
This evil person has been detected expressing a forbidden thought in private email. She suggested that wrong think could possibly be true, and the evidence needed to be considered. She has of course given repeated grovelling public apologies for her horrifying crime. Her career is of course dead, and all right thinking people condemn her, and should continue to condemn her. Failure to adequately condemn her may cause you to be similarly suspected of wrongthink. No person capable of wrongthink can be permitted to hold any important position in our society, since to consider the possibility that wrongthink might be true shows that your mind is dogmatically closed, that you are stupid, ignorant, and hateful, and therefore fit only to be hewer of wood and carrier of water.
Obama has a announced a great pile of trillion dollar giveaways to Wall Street, and called it tough regulation, though each of these regulations protects them from responsibility, while tapping the taxpayer’s veins. To show how tough they are on Wall Street, congressmen summoned Goldman and Sach’s executives to Washington, and harshly ranted at them for selling their customers securities based on mortgages that they knew or should have known were $##%.
Meanwhile, the FDIC is busily ladeling great helpings of taxpayer money all over Goldman and Sach. Read the rest of this entry »
Probably not as much as Donna Ron was.
This rapist, terrorist, and bomber, is a frequent visitor to the Whitehouse, one of the most powerful men in academia, and the major ghostwriter of Obama’s book “Dream’s of my father”.
As a result of our defeat, Arab terrorists have moved into Korengal valley. Now Al Quaeda has safe haven in Korengal and their objectives will not be restricted to protecting the freedom of those in Korengal, but destroying our freedom in lands far from Korengal, murdering Jews and Americans, wherever we may be, anywhere in the world.
Here is the Taliban video of their great victory in Korengal valley: Read the rest of this entry »
The US has fled Korengal, Afghanistan, which is now under the uncontested control of the Taliban.
The US created the Kabul government, in order to do good to Afghans, so that they would love us. It attempted to build a road for the people in Korengal valley, so that they would love us. The people of the valley, all of them, promised to kill anyone who worked on the road, and anyone who used the road, and proceeded to do so.
Substantial parts of this article are pillaged wholesale from Ryan Barne’s excellent account of the crisis, and Mortgage Guarantee Insurance’s colorful account of the crisis. I steal from the best. And thanks to the commenters that pointed out numerous errors.
In 2001, the Federal Reserve began cutting rates dramatically, dropping to 1% in 2003, in order to stimulate the economy.
This produced a boom, and especially a housing boom, in 2002. A housing boom was a rational and appropriate response to the extraordinarily low interest rate on a 30 year fixed rate mortgage, and no one was asking whether the extraordinarily low interest rates on 30 year fixed rate mortgages were rational and appropriate. Read the rest of this entry »
The US representatives at Basel probably thought themselves political moderates and mainstreamers – being in about the center and mainstream of Harvard University professors and the New York Times – which of course puts them far to the left of the American public, and a great deal further to the left of the people who created the banking system.
At Basel, the Americans were the “right wing”. The “center” and “mainstream” at Basel was a good deal further left. Thus the mainstream at Basel were people that the ordinary American would think far left crazies, and that those who reorganized the banking system after the great depression would have thought a bunch of bolshie nut cases who needed to be lined up against a wall and shot.