Article 43

 

Saturday, April 06, 2019

Bad Moon Rising Part 75 - Race To The Bottom 2

image: moved overseas

15 Years ago I WROTE ABOUT the fall of the Unites States, and rise of China, as we close down or move overseas more and more businesses, and ship more and more jobs to other countries, resulting in widespread unemployment and poverty of the disappearing of middle class America. We call it a RACE TO THE BOTTOM.

My opinions and fears haven’t changed over the years.

What does SURPRISE me though, is that our society hasn’t totally collapsed yet.

The folks at Anonymous sum it up below.

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Anonymous Message To Citizens of the United States of America II

By David Cohen
Anonymous
April 6, 2019

Greetings citizens of the United States of America.

This is a message to wake you up to the coming changes in the world economy.

The United States has enjoyed the position of top global super power for many generations, but soon that time is coming to an end. CHINA is quickly rising to dominance on the global stage, and they are projected to overtake the United States economically and culturally in the years to come.

The Chinese military has also been overlooked and underestimated by westerners as it continues to grow.

Last month, it was announced that the government of China set a defense budget growth target of 7.5 percent in 2019, which is slower than last year but still enough to build a military that rivals the United States.

According to research from the Stockholm International Peace Research Institute, China spends considerably more on defense than they reveal to the public. There is no doubt that the United States still spends more on the military than any other country, but with China’s massive population, they can get more bang for their buck.

CHINA is beginning to take over the United States in many other ways also, especially in terms of economics. Just last month it was announced that Apple, one of the largest corporations in the world, has more suppliers and manufacturers in China and Hong Kong than anywhere else in the world.

The total number of production sites located in mainland China increased by 26 from the previous year to 380, accounting for almost 50% of all sites engaged in Apple’s supply chain. The 200 suppliers together represent 98% of Apples fiscal year procurement of materials, manufacturing, and assembly, according to the Asia Review.

China has massive leverage over the rest of the world by producing so many of our products. The outsourcing of jobs also weakens the economies of other nations and funnels large sums of money into the Chinese economy. This relationship, in part, has contributed to the massive debt crisis experienced in the United States economy. In fact, China is the largest foreign holder of US debt in the world.

The U.S. debt to China is $1.13 trillion as of January 2019. The rest of the $22 trillion national debt is owned by either the American people or by the U.S. government itself, but out of all the nations on earth outside of the US, China is the largest holder. Japan comes second at $1.07 trillion, followed by Brazil at $305 billion. Ireland holds $270 billion, and the United Kingdom owns $272 billion. China is now becoming a major player on the global stage that is quickly beginning to rival the United States.

Now the United States government is embroiled in a trade war with the government of China, but time will show that China has far more leverage in this situation. China is also on the cutting edge culturally, with a population that is far more educated than that of the US, and an increasing percentage of global patents and inventions. This is because the government of the United States has dumbed their citizens down to make them easier to control, while China is created a well-oiled machine and economic powerhouse.

The population of the United States has become soft because they have mostly lived in comfort, and they have allowed their government to become corrupt, unaware of what has been happening in the outside world. If the citizens of the United States are going to do anything to protect themselves from the coming changes in global politics, they must educate themselves and learn to become more self-sufficient and independent. The United States is quickly SLIDING into the ranking of a third world country, and without drastic action, the lives of comfort that citizens of the country have known will be COMING TO AN END. The rising influence of China can not be stopped, however, it is not too late to save your own country from the corrupt politicians that have run it into the ground.

The time has come for us to unite, the time has come for us to stand up and fight!

We are Anonymous!

We are Legion!

We do not forgive!

We do not forget!

Expect us!

SOURCE

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“The American Dream Is Lost” - Ray Dalio Tells ‘60 Minutes’ Why American Capitalism Must Be Reformed

By Tyler Durden
Zerohedge
April 8, 2019

After giving $100 MILLION for Connecticut’s public schools and publishing a lengthy treatise entitled “Why And How Capitalism Needs To Be Reformed”, Bridgewater Associates founder Ray Dalio took his battle to encourage bipartisan though still-radical ‘reform’ of American capitalism to an even broader audience: that of CBS’s long-running television news magazine ‘60 Minutes’, where he invited the program’s journalists to interview him aboard his yacht near the Bahamas, and to the rarefied offices of Bridgewater, to hear about how the American system must either change, or die.

The interview included plenty of red meat for Dalio’s journalist guests, as the billionaire illustrated his point with bombastic quotes like the one below:

“I think the AMERICAN DREAM is LOST...for the most part we don’t even talk about it.”

But what’s not working?

“It’s not redistributing opportunity...there’s a growing wealth gap and a growing income gap.”

Dalio - who ‘60 Minutes’ claimed avoids extensive interviews despite his borderline pathological lust for publicity - reiterated many of the ‘solutions’ he proposed in his essay, included the notion that a ‘national emergency’ should be declared to deal with economic inequality.

“If I was president of the United States what I would do is recognize that this is a national emergency.”

Either that, or we risk allowing America’s longstanding Democratic institutions being thrown into upheaval, because the economic inequality will be resolved eventually. The question is whether the solution will involve practical reforms or a descent into authoritarianism.

“If you look at history, if you have two groups of people with very different economic conditions, and you have an economic down turn...YOU GET CONFLICT. If you look at the 1930s, you had 4 countries that were democracies that chose not to be democracies to bring order to the conflict.”

Channeling Warren Buffet, who pays very little in taxes due to the fact that most of his wealth is in stock, Dalio says ‘of course’ taxes should be raised on wealthy people like him. But the key is to take money raised by the government and use it “productively.” According to Dalio, the notion that tax cuts stimulate growth “doesn’t make any sense at all.”

But in response to all of the young people who believe socialism is the answer to America’s problems, Dalio would like them to know one thing: It definitely isn’t.

“Capitalism needs to be reformed...it doesn’t need to be abandoned. it needs to be reformed in order to work better. American capitalism isn’t sustainable.”

But what are the odds that the reforms of which Dalio speaks actually happen. If e had to assign probabilities, he said ‘60-40’ that the inequality issue will be dealt with ‘badly’ - implying either a violent revolution like he warned about in his essay, or the election of an authoritarian leader to “restore order”, as he put it.

Dalio, as CBS reminds us, bought his first stock when he was 12 with money he made as a golf caddie. However, the program’s description of Bridgewater’s army of analysts was slightly antiquated, depicting them as the drivers of the firm’s investment decisions (rather than a marketing tool. At Bridgewater, it’s well known that the machines make most of the investment decisions.) More humorously, ‘60 Minutes’ sat in on one of Bridgewater’s staff meetings, and gently reported that “there’s a bit of a Big Brother vibe”...and humorously pointed out that a camera visible in one of the company’s meetings “wasn’t ours, it’s theirs").

Though one fact that’s not up for debate: Bridgewater has made money for its clients during 25 of the last 28 years. And last year, when the S&P 500 sank 4.5%, Bridgewater posted a double-digit gain.

The interview closes with an apt metaphor for differentiating Dalio’s approach with tech billionaires like Jeff Bezos: Traveling near the ocean floor in a machine built for marine biologists to explore the Ocean floor, Dalio says he finds deep-sea exploration to be far more important than exploring space. “If I come down here and see the coral reefs are dying...it doesn’t take a genius to know that the something is out of balance.”

SOURCE

Posted by Elvis on 04/06/19 •
Section Bad Moon Rising
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