<<... The outcome Washington should be concerned about, he writes, "is its diametric opposite – a tsunami of capital flooding into the country ... >>
yeup, printed and recycled capital, leaving america as cost, entering china as revenue, giving rise to surplus savings, and leaking excess capital to emerging world that are gathering around pax-sinica domain all hailing the incoming, certainly new but truly ancient sovereign, and cause some chump central-banking moolah returning to usa as sorry debt obligations.
the dragon baby continues to feed, grow, is readying for the happy birthing cry, and to save the planet.
in so far as i see it, to put it all simply and absolutely bluntly, obama's america is burning the furniture to keep warm, eating the seed corn to keep fed, cutting back on education, skimping on capital investment, not providing jobs for its new job market entrants, failing its wanna-retire oldsters, wasting equity and borrowed resources fighting and in truth losing tragically unnecessary and in truth 'self-fulfillingly' self-destructive wars that can only serve to gather more and still ever more enemies eventually to the tune of several billion souls, and reneging on its obligations to counterparties until the firm and definitive “no” is sounded by same counterparties. in a sentence, america is destroying family values and pulverizing the bond of contract for no particular purpose but with great conviction.
palin's usa shall doubtlessly keep the course, per universally aimless suffrage action, to prolong the suffering.
while it still is not too late to repent, it would be wrong to premise that it would never be too late to atone.
this coming tuesday i shall travel to qingdao and lodge at some ocean-side hotel, to travel by bullet train on one-day round trip journey to central shangdong at average progress of 183 km/hr to engage with a factory supposedly bursting with PhDs working on yet another geewhizbangohwhoawee lighting solution. the one hour and several minutes journey in the old days would have taken 3-hours by train and 6+ hours by car, and until recently, 3-hours by car per duper highway. yes, china is spending plenty on infrastructure, and well advised so, imo, to bring the rest of the ancient civilization into the next age, and now really only at mexico level or even less, in so far as km per any metrics.
interesting, the factory, supposed to be brought to ipo by goldman sachs, has just augmented their usa/european markets by selling several hundred thousand lighting units to ... india.
i remain bullish on china, hong kong, and gold, therefore platinum, and so i remain bearish on the rmb, usd, and equity markets
observation: whenever i go around china and am zipping through variety of neighborhoods by car, i never wonder "i wonder what these people in this neighborhood do (for a living)". but every time i wander around europe and america (admittedly have avoided america for some time for i refuse to go to "retina scan and x-ray land" unless and until someone pays over 6 digits for the trip), i never wonder on the same question.
having noted above, while i do not wonder about the same query while moping around in hong kong, i am in wonder, because what we do in hong kong is simply absurd and unsustainable, however wonderful. we apparently bridge the gap between oecd people who claim to think, and china folks who believe they are sweating.
saturday sermon over, amen
cheers, tj |
