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CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

Mr. Invisible

Mr. Invisible

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CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

China's official comment on the S&P downgrade was harsh and condescending. Released through Xinhua (via Reuters) the statement condemned America for its "debt addiction" and "short-sighted" political wrangling.

"The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone," Xinhua wrote.

America's largest creditor, China said it will accelerate diversification away from US treasuries, and that meanwhile it demands reform: "China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China's dollar assets," Xinhua said.
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Thoughts?
Comments?
 
Harry Guerrilla said:
I've been saying this for some time.
We aren't the only economic power house in the world anymore.
We have to realize that the world market has other competitors.

I'm quite sick of people pining for the good ole days in the 50's, 60's and 70's.
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China demands reform from America; sad but obviously necessary.

A lesson from communists about capitalism.

 
Helix said:
as i said on another thread, fine. bring the manufacturing sector back to the states. then we won't have the need to borrow.

trading our manufacturing sector for borrowing power and "cheap" goods has not worked.
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I work in manufacturing, been doing so for the past 4 years.
Keeping people employed in manufacturing is a problem, even during the recession and the stagnation following.

We've had a 50% turnover rate for new employees on my line, when the rate of pay is higher than most anything in the surrounding area.
People don't want to do it anymore.
 
Harry Guerrilla said:
I work in manufacturing, been doing so for the past 4 years.
Keeping people employed in manufacturing is a problem, even during the recession and the stagnation following.

We've had a 50% turnover rate for new employees on my line, when the rate of pay is higher than most anything in the surrounding area.
People don't want to do it anymore.
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your claim is that there are good paying unfilled positions that people don't want?

put the jobs on careerbuilder and on your state's workforce development website. my guess is you'll find people quickly. many folks in my area are desperate for that (or any other) kind of work.
 
Helix said:
your claim is that there are good paying unfilled positions that people don't want?
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Right about half, I think 5 of 10 people brought in, have quit.


Helix said:
put the jobs on careerbuilder and on your state's workforce development website. my guess is you'll find people quickly. many folks in my area are desperate for that (or any other) kind of work.
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I'm not in charge of anything like that, they go through a temp service.
The jobs are temp to hire, with good benefits if you can actually work.
 
The U.S. and other Western states have allowed China to get away with its neo-mercantilist policies for two decades... the results are coming home to roost. Time to take China to task for its policies -- currency manipulation and the use of non-tariff barriers to make imports of many goods exceedingly difficult with the express purpose of depressing them -- though it may already be too late...
 
China's being harsh, but... what they're saying is not wrong. It's just a shame that it had to be China of all countries saying "I told you so". The only way it could be worse is if it were Russia saying it.
 
Μολὼν λαβέ;1059718563 said:
China demands reform from America; sad but obviously necessary.

A lesson from communists about capitalism.

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You...understand this isn't a real video from real communists, right?
 
Mr. Invisible said:
CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"



Thoughts?
Comments?
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The good ol days? When people were responsible for their kids? When our society was not politically correct and we didnt BS each other with lies? When we didnt tolerate Illegal aliens and didnt give them tax money? When we still had a manufacturing base? When companies actually cared more for their employees than their god damn stock price? I think the Chinese are mainly correct. I also feel the American people are very similar to Rome in its last years. Greedy, fat, lazy, without ethics and morals. This ship is sinking. The men and women that died for this country in WWII are crying somewhere.
 
Harry Guerrilla said:
I'm not in charge of anything like that, they go through a temp service.
The jobs are temp to hire, with good benefits if you can actually work.
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apparently, there is a problem with your temp service. your HR department should contact your state's unemployment services, and the positions should be listed on careerbuilder.

these jobs are desperately needed, and should not go unfilled.
 
Helix said:
apparently, there is a problem with your temp service. your HR department should contact your state's unemployment services, and the positions should be listed on careerbuilder.

these jobs are desperately needed, and should not go unfilled.
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I would NOT use Careerbuilder. Monster is much better.
 
nonpareil said:
Drug dealer scolding the drug user? :mrgreen:
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Doesn't China have a zero tolerance drug policy with dealers facing penalties including capital punishment and don't they make drug abusers and addicts must undergo rehabilitation at police-run facilities or labor camps?
 
Disputatious71 said:
Doesn't China have a zero tolerance drug policy with dealers facing penalties including capital punishment and don't they make drug abusers and addicts must undergo rehabilitation at police-run facilities or labor camps?
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What drug policy?
 
ludahai said:
The U.S. and other Western states have allowed China to get away with its neo-mercantilist policies for two decades... the results are coming home to roost. Time to take China to task for its policies -- currency manipulation and the use of non-tariff barriers to make imports of many goods exceedingly difficult with the express purpose of depressing them -- though it may already be too late...
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You mean the same sort of policies that Japan and South Korea have followed for their development
 
Oh joy, they will no longer purchase vasts amounts of dollar denominated assets?!?!?! Wait they still are:2razz:
 
Lord Tammerlain said:
You mean the same sort of policies that Japan and South Korea have followed for their development
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It is shows a great deal of disrespect to lump the economic policies of China and Japan in the same context....
 
The good times will return when Obama is causing trouble someplace else and the business community is left alone to fix the economy.
 
Councilman said:
The good times will return when Obama is causing trouble someplace else and the business community is left alone to fix the economy.
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Was it not the actions of the "business community" that put us in this place to begin with? Oh wait, government wrote, issued, insured, and exported the toxic mortgages that infected the global financial system.:roll:
 
ludahai said:
Similar, but more extreme.
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Not really

China has far more foreign manufactures within it then does SK or Japan. Non Chinese automakers hold a higher market share of the Chinese automarket then do foreign carmakers in Japan or SK. Both SK and Japan have placed restrictions on foreign imports.

The only real difference is that China is a far larger country, and it does not put alot of effort into trademark and patent protection
 
Goldenboy219 said:
It is shows a great deal of disrespect to lump the economic policies of China and Japan in the same context....
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Really?

Japan and SK have not protected domestic markets to ensure the development of domestic industries. Is not China doing the same to promote its own domestic industries?

The main difference would be in patent protection and trademarks/copyrights. To which China does not enforce very well.
 
Councilman said:
The good times will return when Obama is causing trouble someplace else and the business community is left alone to fix the economy.
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They did such a wonderfull job during the tech bubble and the housing bubble
 
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