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CougTek
Hairy Aussie
I don't have the money to subscribe, much less the money to invest in any stocks, no matter how good an opportunity they can be. Is it really a surprise to you that China has overtaken the U.S. as the World's #1 economical power? I've been saying it for a while. What I'm less sure is about the military power, but it's obvious that the U.S. no longer has the money to finance a long war against a major opponent, so despite the fact that I think the U.S. still has the most powerful army, I also think it could not use it for very long in a major conflict before going bankrupt.
I'll push harder to be hired by a mining company. I should have an opprotunity soon.
I'll push harder to be hired by a mining company. I should have an opprotunity soon.
Will Rickards
Storage Is My Life
Yes this video is definitely closer to an hour than ten minutes.
I think it is the usual mix of partial truth with exaggeration to sell you something.
You'd definitely have to research his claims and reliability with past predictions before investing.
My thoughts on China are a bit different.
I think they have an over inflated economy and too much of an income disparity.
I'd think they are heading for some sort of correction but their government is preventing it.
I don't think they'll ever agree to raising the value of the yuan significantly.
I think it is the usual mix of partial truth with exaggeration to sell you something.
You'd definitely have to research his claims and reliability with past predictions before investing.
My thoughts on China are a bit different.
I think they have an over inflated economy and too much of an income disparity.
I'd think they are heading for some sort of correction but their government is preventing it.
I don't think they'll ever agree to raising the value of the yuan significantly.
jtr1962
Storage? I am Storage!
China is starting to have labor problems of their own. My brother collects die-cast cars as a hobby. They are mostly made in China. Right now all the major companies who make them are having trouble getting parts from the factories. The factories can't get enough workers at wages which would allow them to deliver the product at the price the customers want. Make no mistake, the cost of manufacturing in China will rise relative to maufacturing in the US.
After their labor problems, China is an environmental disaster waiting to happen. Most of their expansion was fuel by coal and oil. Their cities are often so polluted that people cover their faces with masks. Eventually this will take a toll on the population's health. Since China has socialized medicine, that will cost them big time.
The next big problem is the emerging trend towards more individual freedom in China. We in the West are mistaken to think down the road China will become a Western-style democracy. There is little desire for that type of government. On some levels, central planning and the ability to pass laws without regard to how popular they are is a competitive advantage. I doubt this will change in the long run. However, people will only tolerate so much control of their lives. China already had to relax the laws limiting capitalism in the 1980s. Eventually they will no longer be able to do things like relocate entire cities to build dams, etc. This will severely limit China's ability to expand further. In the end, the Chinese will have most of the freedoms which matter, such as freedom to own property, run a business, live where they want, etc. With these freedoms will eventually come the excess and decadence which has been the downfall of every superpower, including the United States.
Bottom line-China will be top if it isn't already, but its dominance will hardly be supreme. In fact, in the long run this may be good for the US in that it will wake us up, and force us to finally start doing what we need to be competitive. This includes better educating our citizens, rebuilding our neglected infrastructure, and reinstilling the work ethic in our youth. It may also make us discard the worst of our traits, such as the mindless drive towards individual freedom regardless of the costs to others. That in turn will reduce our wasteful ways, once again making the US more competitive. The US didn't win WWII and dominate the economy in the second half of the 20th century because of our rugged individualism. Rather, it was shared sacrifice during WWII, and working together building up infrastructure afterwards, which enabled this. These traits can be reawakened again.
The dark horse in all this? In my opinion it will be how fast we deplete essential resources before we learn (both China and the US) to have sustainable economies. A resource war could cost both sides heavily.
After their labor problems, China is an environmental disaster waiting to happen. Most of their expansion was fuel by coal and oil. Their cities are often so polluted that people cover their faces with masks. Eventually this will take a toll on the population's health. Since China has socialized medicine, that will cost them big time.
The next big problem is the emerging trend towards more individual freedom in China. We in the West are mistaken to think down the road China will become a Western-style democracy. There is little desire for that type of government. On some levels, central planning and the ability to pass laws without regard to how popular they are is a competitive advantage. I doubt this will change in the long run. However, people will only tolerate so much control of their lives. China already had to relax the laws limiting capitalism in the 1980s. Eventually they will no longer be able to do things like relocate entire cities to build dams, etc. This will severely limit China's ability to expand further. In the end, the Chinese will have most of the freedoms which matter, such as freedom to own property, run a business, live where they want, etc. With these freedoms will eventually come the excess and decadence which has been the downfall of every superpower, including the United States.
Bottom line-China will be top if it isn't already, but its dominance will hardly be supreme. In fact, in the long run this may be good for the US in that it will wake us up, and force us to finally start doing what we need to be competitive. This includes better educating our citizens, rebuilding our neglected infrastructure, and reinstilling the work ethic in our youth. It may also make us discard the worst of our traits, such as the mindless drive towards individual freedom regardless of the costs to others. That in turn will reduce our wasteful ways, once again making the US more competitive. The US didn't win WWII and dominate the economy in the second half of the 20th century because of our rugged individualism. Rather, it was shared sacrifice during WWII, and working together building up infrastructure afterwards, which enabled this. These traits can be reawakened again.
The dark horse in all this? In my opinion it will be how fast we deplete essential resources before we learn (both China and the US) to have sustainable economies. A resource war could cost both sides heavily.
CougTek
Hairy Aussie
All the problems you list will severely hit them...in ten-to-twenty years at best (except perhaps for the labor thing). But the U.S. is on the edge RIGHT NOW. If the U.S. are going to wake up, they better do it ASAP. In fact, they should have done it twelve years ago, but that's another story.
One step further ... this is worse than China taking over the world:
"FINANCIAL TYRANNY: Defeating the Greatest Cover-Up of All Time"
"Thanks to heroic efforts of Congressman Ron Paul, former Congressman Alan Grayson and Congressman Bernie Sanders to audit the Federal Reserve, we now know that the Federal Reserve secretly lent out 26 trillion dollars' worth of American money from 2007 to 2010 -- much of it to foreign banks."
Twenty. Six. TRILLION. Dollars.
<evil laughter>
http://www.divinecosmos.com/start-here/davids-blog/1023-financial-tyranny
"FINANCIAL TYRANNY: Defeating the Greatest Cover-Up of All Time"
"Thanks to heroic efforts of Congressman Ron Paul, former Congressman Alan Grayson and Congressman Bernie Sanders to audit the Federal Reserve, we now know that the Federal Reserve secretly lent out 26 trillion dollars' worth of American money from 2007 to 2010 -- much of it to foreign banks."
Twenty. Six. TRILLION. Dollars.
<evil laughter>
http://www.divinecosmos.com/start-here/davids-blog/1023-financial-tyranny
CougTek
Hairy Aussie
That bastard Rothschild s.o.b. should have been tortured and executed for what he did in 1815. I've always said it : law are made to keep the bastards at the top and the others below. I don't know if the complot is as bad as written there, but I read other texts before that suggest it is very plausible. Of course, the rational action would be to hunt them down and then reset the counter on every single penny the World owes them, but unfortunately that's never going to happen.
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