From “It’s Not Just the Currency”, October 15, 2011, “For China to develop further, it must rely more on its own consumers to buy its products and services. To get its citizens to spend more, the government must go beyond undoing the financial distortions — like artificially depressed interest rates that encourage huge savings. It should invest more in social goods, like its pension and health insurance programs, to encourage families to reduce their just-in-case savings and spend more.”
Basically, the argument is that they should go up to their eyeballs in debt and screw themselves the same way we have – in the way the outgoing Federal Reserve Chairman to Congress that “Debt is good.”
In China, people who have no work receive a pension and so continue to be consumers – in America, Social Security pensions are cut so that money can be wasted on tax breaks for companies who are actively reducing our oil reserves and depleting the natural stockpiles our military will need in the future.
Of course, it is done with the argument of cheaper energy now – to hell with the safety of our children and grandchildren.
Our energy is, and has been for fifty years, artificially lower than all the other industrialized nations. Yet we do not enjoy the highest standard of living – that seems reserved for the Scandinavian nations that have none of the resources we have and a harsher climate. Yet they have free medical care and total citizen security – in all aspects of that term.
Note that the unemployment pension is a compensation for a system that the Times describes with the words: “For all these costs, China gets remarkably few jobs from its export-led strategy, which increasingly relies on mechanization to produce more sophisticated goods. Employment has grown by only 1 percent per year since 2004 despite G.D.P. growth of 10 percent.”
Think of the jobs we created by outsourcing – factor towns and retail communities destroyed as we shipped manufacturing jobs to third world nations and decimated our general tax revenues.
Let’s look at the line: “China’s exports fell in the third quarter, suggesting foreign consumers are too spent to keep buying even China’s artificially cheap goods and keep sustaining China’s growth.” Thus China is dependant on keep the rest of the world healthy enough to buy its goods. This explains why they underwrite the gross mismanagement of the American economy – evidenced in Reagan & Bush each devoting their time to doubling the National Debt.
In reality, so long as China has no large scale, or active, military conflicts, it can allow us to destroy ourselves in favor of its current growth. If we default on our debt, First Social Security Funds vanish (they are deposited in Treasury Securities); then we drag down the rest of the world as our default undermines any & all unstable regions and their governments fall.
Terrorists will cause unrest – our depletion of our domestic oil reserves will make us dependant on the OPEC nations and terrorist controlled regions for the fuel needed to power our military system – the Nazis ran into that problem and had to siphon fuel in order to retreat – they abandoned the war machine.
Let nature defeat your enemy. The Russians used that against the Nazis, and against Napoleon. Their ancestors, the ancestors of the Rus -- the Scythian who were called Royal -- used that tactic against Cyrus The Great … Herodotus reported on it in his Histories. Any power can fall to its own weight – it is the logic behind Judo and Karate … with the exception that Karate also emphasizes speed as a form of power.
The Times just doesn’t get it – the problem is not with China, it is with us. We are, and have been, actively working against our own best interests. We are on the road to destruction. Fortunately for me and my contemporaries, it is our children and grandchildren who will feel the damage. Fortunately for my children and future grandchildren, I began preparations for that day – I began over forty years ago – and will continue them until I die.
- THE MOST HARM TO THE MOST PEOPLE -
Will not catch my family in its horrors.