Hello ACF Mike, we are still talking at the cocktail party after all:0) Wonderful. Now, here are some observations:
<<Well, Jay, I am enlightened ... I understand TnT>> No you are not, and you may possibly do.
I observe the world from HK, the most flexible of world economies, and intricately tied to just about every twitch of same economies. I have said this many times in the past, and you have just realized it?!
Should HK lose relevancy for China, then the reform is lost, and the world will become a darker place.
<<meeting with several of my Shanghai-area suppliers. When I joke with them that in 20 years China will catch the US in economic output, they reply, "no - 50 years maybe - we have many problems." They don't elaborate on the nature of the "problems,">>
My in-laws friends and in-laws' younger siblings have said in the past, 'my child is not so smart, he only got into Stanford', whereby my in-laws would respond 'our children were lucky, and attended Harvard'. So, A hint for Mike, your suppliers are joking with you.
<<I continue to find evidence that, outside of the depression in telecomm and technology, the US economy (service sector, automobiles, housing, construction) is functioning well. No panic, no melt, real incomes increasing, prices of just about every consumable/consumer good falling>>
And economic cycle is so far short-circuited.
Try an experiment at home: take light bulb out of socket, place copper penny in same socket, replace bulb, connect explosive fuse line between light fixture and gas tank, step back, and click on switch.
What cannot be, cannot. Money is being siphoned from the home equity to fund you know what.
<<but tremendous leaps in prosperity are made from this kind of price deflation. That's the big picture>> In the long term yes. In the short term, I am looking at it everyday, riding on the bus.
Chugs, Jay |
