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Business, Economics, and Taxes: Capitalism. Yay? >=(

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Handyman said:
They never really did any of that though. They were still massively overbuilding going into this year until it seemed construction companies started not being able to pay their bills. I only stayed at a Holiday Inn last night but it would seem they are basically where we were in late 2007...

(it is way more complicated than that and I dont pretend to get it)
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I know way less than you or anybody else. I just remember the Economist making warnings when 2008 happened it was going to be a gnat fart compared to the PRC.
 
Kepler said:
I know way less than you or anybody else. I just remember the Economist making warnings when 2008 happened it was going to be a gnat fart compared to the PRC.
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My "haven't bothered to look anything up" memory hole agrees with you. Hasn't China been claiming to have a 7%+ GDP for years now? Utterly unsustainable.
 
Handyman said:
Its not...it is just hitting earlier than was originally predicted. They have been teetering for months now but the move by the Central Bank seemed unexpected at this point. (if I read right) The question is, how will China choose to distract from the news?
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Probably blame foreigners, as is the Jinping regime's standard operating procedure.
 
Out of curiosity, what would be the real consequences for the rest of the world if China’s economy goes t*** up?

I mean, it’s not like their manufacturing would completely stop right?
 
Jimjamesak said:
Out of curiosity, what would be the real consequences for the rest of the world if China’s economy goes t*** up?

I mean, it’s not like their manufacturing would completely stop right?
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If you thought Supply Chain was an issue now...

There are probably a lot of downstream effects from capitalism now depending on effective slave Chinese labor. Globalist margins are shaved so thin lots of firms likely fail if capital loses that truncheon to flail other workers. And with them go financial instruments where all that cash sloshing around went. I'm sure the Poors get fucked the hardest like always, but even nice well-scrubbed upper middle class people like (gulp) me also will get hurt.

Mass unemployment, deflation, market crashes, the rich screaming like scalded babies for bailouts. You now, the usual.
 
I guess I just see the consequences of a bunch of Chinese losing their shirts on real estate. They don’t really have a consumer driven economy like the West and, again, I don’t see how their manufacturing is just suddenly going to stop.
 
Still, if any Chinese businesses close down because of their economy, and those businesses produce a lot of gods for American companies(and other nations), those ripple effects are gonna be felt here.

Imagine Walmart losing a quarter of their suppliers.
 
rufus said:
Still, if any Chinese businesses close down because of their economy, and those businesses produce a lot of gods for American companies(and other nations), those ripple effects are gonna be felt here.

Imagine Walmart losing a quarter of their suppliers.
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Maga crowd wants to buy American, maybe they’ll get their wish . Lol
 
rufus said:
Still, if any Chinese businesses close down because of their economy, and those businesses produce a lot of gods for American companies(and other nations), those ripple effects are gonna be felt here.

Imagine Walmart losing a quarter of their suppliers.
Click to expand...

Why would manufacturing, heavily owned, subsidized, operated by, or leased by foreign entities be affected by the financial industry collapse?

sure, capital would freeze up domestically, but I don't see why China would then cut off their other leg and refuse foreign investments.
 
Remember those devasating losses on the stock market?

The S&P 500 is now above what was at that time its all-time record from 6/21/21.

Unemployment is the lowest it has ever been in US history.

Biden just slammed through 5 huge initiatives.

Somebody please tell the Sunday shows and the NYT.
 
Kepler said:
Remember those devasating losses on the stock market?

The S&P 500 is now above what was at that time its all-time record from 6/21/21.

Unemployment is the lowest it has ever been in US history.

Biden just slammed through 5 huge initiatives.

Somebody please tell the Sunday shows and the NYT.
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You don't want them talking about it...cause they would just have on 25 GOPers to tell us why that actually proves things are bad or give all the credit to Trump for it.
 
But companies are struggling to hire people (well, companies that won't pay market rate), so yeah of COURSE the economy is a shambles.

So sayeth my facebook feed.
 
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