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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.29+0.6%Nov 7 4:00 PM EST
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To: TobagoJack who wrote (84107)12/4/2011 9:05:05 PM
From: Hawkmoon4 Recommendations  Read Replies (2) of 217605
 
you are still reading the economists? why?

Chanos is hardly an economist.. And he's not alone in his view that China has some significant problems that are coming to roost now.

And as you stated, Chinese are prolific savers.. But what are they putting that money into now that they can trust? It was Real Estate, as you noted previously.. All cash purchases into unoccupied construction that was not delivering an ROI. But you say "that's ok.. no problem.."

Now what are they going to put their money into? Banks that are dysfunctional and loaded with bad debt? Do they have depositor insurance in China?

Gold? Well.. now we see the Chinese government engaging in the confiscation of gold by closing down Chinese mines that are under 50 tonnes of production per day.

mining.com

People have no rights in China TJ.. The government will do whatever they think they need to do to keep themselves in power (and pillaging the country for their own benefit), even if it means cracking down on the dissident masses and teaching them the meaning of fear again..

And Chinese families have to worry due to the fact that they have only one child each (unless wealthy enough to "buy" the right to have two).. So the gov't has the ultimate power of ending a family bloodline by imprisoning/killing any young people who dare to rebel.

Even more than in the US, or Europe, the "game" is rigged in favor of the power elite. Capitalism is merely a useful "tool" to help them increase the economic power. But when it becomes a threat to them, they will crack down, or risk losing total control over the country.

Hawk
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