US needs to show it's still top dog

[Chicog]

What the USA needs to do is focus on the domestic economy.

The average American does not want their kids dying for an unknown cause in a far off country !

Agree .....less interference and save the money for helping the average Americans is the way to go ...plus reignite some of the manufacturing back

I agree 100%

When you travel through mid state rural America the average voice says let's think USA not the world.

Time for the USA to bail out of being the worlds police force.

Absolutely, American and police are not a very popular combination at the moment. They have a habit of attacking and killing the unarmed.

[ClareQuilty]

Obama's done a superb job (in context) both domestically and internationally. These moderate center-right leaders (that is, Democrats) always get bad press and the ire of the 'angry white males'.

The idea that the USA isn't 'winning the game' at present (and as always) is bizarre, though, even for people who know very little background. Here are the simple facts found by reading headlines, not even news stories:

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

2. Russia bankrupt

3. US growth around 4%

4. Chinese economy frightfully stalled

5. Abe in Japan, Modi in India - perfect for US plans

The observer needn't even need to know that Chinese economic reporting is so dubious as to be nearly meaningless, or that its long term demographic situation is disastrous, or that the main order of business for maintaining US hegemony throughout the 21st century is encirclement of China (destruction of Putin regime, build up of Japan-India-US-EU alliance) - the obvious trend of headlines is apparent: The US is winning big..

Thanks Obama.

Edited December 14, 2014 by ClareQuilty

[LawrenceChee]

Obama's done a superb job (in context) both domestically and internationally. These moderate center-right leaders (that is, Democrats) always get bad press and the ire of the 'angry white males'.

The idea that the USA isn't 'winning the game' at present (and as always) is bizarre, though, even for people who know very little background. Here are the simple facts found by reading headlines, not even news stories:

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

2. Russia bankrupt

3. US growth around 4%

4. Chinese economy frightfully stalled

5. Abe in Japan, Modi in India - perfect for US plans

The observer needn't even need to know that Chinese economic reporting is so dubious as to be nearly meaningless, or that its long term demographic situation is disastrous, or that the main order of business for maintaining US hegemony throughout the 21st century is encirclement of China (destruction of Putin regime, build up of Japan-India-US-EU alliance) - the obvious trend of headlines is apparent: The US is winning big..

Thanks Obama.

Here we go again ..."who's winning" yawn ......I think the true mark of a win for a government in its effectiveness is how happy their people are taken care of ...in that context the Scandinavians are getting a a good bargain for the taxes they pay

[spidermike007]

Obama's done a superb job (in context) both domestically and internationally. These moderate center-right leaders (that is, Democrats) always get bad press and the ire of the 'angry white males'.

The idea that the USA isn't 'winning the game' at present (and as always) is bizarre, though, even for people who know very little background. Here are the simple facts found by reading headlines, not even news stories:

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

2. Russia bankrupt

3. US growth around 4%

4. Chinese economy frightfully stalled

5. Abe in Japan, Modi in India - perfect for US plans

The observer needn't even need to know that Chinese economic reporting is so dubious as to be nearly meaningless, or that its long term demographic situation is disastrous, or that the main order of business for maintaining US hegemony throughout the 21st century is encirclement of China (destruction of Putin regime, build up of Japan-India-US-EU alliance) - the obvious trend of headlines is apparent: The US is winning big..

Thanks Obama.

If you take into account only macroeconomics, and the numbers being bandied about by Washington, what you say appears to be true. But, if you take into account the financial well being of the average American, it all changes. Consumer debt is at an all time high, recently surpassing 3 trillion dollars. Many people I know are really struggling to survive. Their savings are being eroded, their equity in their homes has dropped, and they are working harder, to earn the same money, that they have been earning for many years now, except the dollar has far less purchasing power than before. I am in retail, and I can tell you the average American consumer is suffering from a crisis of confidence, when it comes to spending extra money. Obama is not helping one iota, when it comes to making them more confident, or improving the quality of their lives, on a daily basis, from my point of view. And by the way, I am a lifelong democratic voter, so you many want to be hesitant to lump me into the angry white male, republican category. I voted for him the first time. But, not the second. It took me a moment to realize who I was truly dealing with.

[ClareQuilty]

Guys, its hardly fair to criticize Obama for things he would never be allowed to change: the ever-present and inevitable ills of capitalism! The servile classes have always been, and ever shall be fodder to be consumed by those who own them. I was just pointing out that within the context of our miserable and iniquitous system, Obama's done a 'good job'.

[Chicog]

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

That's an interesting interpretation. Many pundits think that Saudi are deliberately keeping the price low to force the more leveraged US frackers, ones with tight margins, out of business.

Russia is sat on $450 billion of reserves so they aren't exactly going bust yet.

Edited December 14, 2014 by Chicog

[Choctastic]

Rahm Emmanuel is not "ex-IDF".

He served as a volunteer but never mind, he has enough form to render the point still valid. This son of an Irgun terrorist, according to his Wiki blurb... 'is known for his "take-no-prisoners style" that has earned him the nickname "Rahmbo."

I am pretty sure that if one checks Obama's advisers, staff and people getting to whisper in his ear there are bound to be representatives related to many potential interest groups.

Who only got to whisper in his ear if approved by his Chief of Staff... Emmanuel.

Wonder which adviser suggested Obama's 'Kill-list'?

[ClareQuilty]

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

That's an interesting interpretation. Many pundits think that Saudi are deliberately keeping the price low to force the more leveraged US frackers, ones with tight margins, out of business.

Russia is sat on $450 billion of reserves so they aren't exactly going bust yet.

Don't believe it - the fracking can be restarted with great ease if and when the price goes up again. The Saudis know this, and know that over the long haul $60-80/barrel is a lot more realistic than $100+.

Russia's reserves (only maybe 170 billion are actually left, the 450 billion is out of date and mostly Russian puffery) give Putin a few months to gracefully exit, that's all. If you want to see immediate bankruptcy take a look at Venezuela.

[Chicog]

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

That's an interesting interpretation. Many pundits think that Saudi are deliberately keeping the price low to force the more leveraged US frackers, ones with tight margins, out of business.

Russia is sat on $450 billion of reserves so they aren't exactly going bust yet.

Don't believe it - the fracking can be restarted with great ease if and when the price goes up again. The Saudis know this, and know that over the long haul $60-80/barrel is a lot more realistic than $100+.

Russia's reserves (only maybe 170 billion are actually left, the 450 billion is out of date and mostly Russian puffery) give Putin a few months to gracefully exit, that's all. If you want to see immediate bankruptcy take a look at Venezuela.

But meanwhile a lot of the frackers borrowed heavily to develop fields when it was $130+ and they still have loans to pay off. I think it's these that are on the edge. And that's probably how the Saudis see it. As to how many of them there are, that I'm not sure.

I take your point about Russia being a bit loose with their figures but they certainly aren't a few months away from Putin leaving.

As for Venezuela, the list of IOUs they are writing to China is reminiscent of a gambling addict.

[chuckd]

Rahm Emmanuel is not "ex-IDF".

He served as a volunteer but never mind, he has enough form to render the point still valid. This son of an Irgun terrorist, according to his Wiki blurb... 'is known for his "take-no-prisoners style" that has earned him the nickname "Rahmbo."

I am pretty sure that if one checks Obama's advisers, staff and people getting to whisper in his ear there are bound to be representatives related to many potential interest groups.

Who only got to whisper in his ear if approved by his Chief of Staff... Emmanuel.

Wonder which adviser suggested Obama's 'Kill-list'?

Q. Wonder which adviser suggested Obama's 'Kill-list'?

A. Valerie Jarrett.

A very interesting read on the influence she has with this President.

------------------------------------------------------------------------------

The Obama Whisperer

No one has understood Valerie Jarrett's role, until now

By Noam Scheiber

Even at this late date in the Obama presidency, there is no surer way to elicit paranoid whispers or armchair psychoanalysis from Democrats than to mention the name Valerie Jarrett. Party operatives, administration officials—they are shocked by her sheer longevity and marvel at her influence. When I asked a longtime source who left the Obama White House years ago for his impressions of Jarrett, he confessed that he was too fearful to speak with me, even off the record

Interesting article here: http://www.newrepublic.com/article/120170/valerie-jarrett-obama-whisperer

[Morch]

Rahm Emmanuel is not "ex-IDF".

The controversial comments were made at a breakfast to celebrate Casimir Pulaski Day, when schools and government offices here close to honor the Polish-American Revolutionary War hero. Edward Moskal, president of the Polish American Congress, a political action committee that had endorsed Ms. Kaszak and gave her an award at the breakfast, called Mr. Emanuel a ''millionaire carpetbagger'' and suggested, erroneously, that he had dual citizenship with Israel and had served in its armed forces.

http://www.nytimes.com/2002/03/06/us/ethnic-comments-rattle-race-for-congress.html

Some charged that Emanuel was an Israeli citizen or a dual U.S.-Israeli national (he is neither, he was born in Chicago in 1959); or, they alleged that he served in the Israeli Defense Forces (IDF), losing his finger confronting a Syrian tank during the 1982 Israeli invasion of Lebanon (he did not serve in the IDF, and lost his finger in a freak accident while working as a teenager in an Arby's restaurant). A few accused Emanuel of skipping U.S. military service to join the IDF in 1991 (also not true -- in the midst of the 1991 Gulf War, while U.S. forces were manning Patriot missile batteries in Israel and the Arab Gulf, Emanuel volunteered for a few weeks, as a civilian, doing maintenance on Israeli vehicles). The most recent story alleges that Rahm Emanuel was fired from the White House in 1998 after being implicated by the FBI, together with Monica Lewinsky, in a Mossad plot to spy on then-President Clinton (a total fabrication, compliments of a shady character who claims to have been a U.S. intelligence official and is a purveyor of many bizarre tales).

http://www.huffingtonpost.com/james-zogby/rahm-emanuel-and-arab-per_b_143976.html

I am pretty sure that if one checks Obama's advisers, staff and people getting to whisper in his ear there are bound to be representatives related to many potential interest groups.

"I am pretty sure that if one checks Obama's advisers, staff and people getting to whisper in his ear there are bound to be representatives related to many potential interest groups"

Reading that last sentence, the name that springs to mind is his closest adviser...Valerie Jarrett.

American citizen, born (and raised partly) in Iran.

My point was rather that laying unfounded blame based on partial biographical bits taken out of context is a slippery slope.

[Morch]

Rahm Emmanuel is not "ex-IDF".

He served as a volunteer but never mind, he has enough form to render the point still valid. This son of an Irgun terrorist, according to his Wiki blurb... 'is known for his "take-no-prisoners style" that has earned him the nickname "Rahmbo."

I am pretty sure that if one checks Obama's advisers, staff and people getting to whisper in his ear there are bound to be representatives related to many potential interest groups.

Who only got to whisper in his ear if approved by his Chief of Staff... Emmanuel.

Wonder which adviser suggested Obama's 'Kill-list'?

He volunteered for two weeks during GW1, and was fixing trucks....hardly like he served in the IDF. His father was also a pediatrician, does it mean Rham Immanuel is....sure you had a point there. Not even sure what the Wikipedia quote got to do with anything.

All chiefs of Staff got some influence over who the President listens to. Not unique in any way. Also, he's not the Chief of Staff since 2011.

[Morch]

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

That's an interesting interpretation. Many pundits think that Saudi are deliberately keeping the price low to force the more leveraged US frackers, ones with tight margins, out of business.

Russia is sat on $450 billion of reserves so they aren't exactly going bust yet.

The line of thought regarding the Saudi vs. frackers, is indeed getting some mileage. Could be true. Hard to read this game of poker, usually.

Russia got $450 billion stashed, or had...? Wonder how much that pile shrinks with each passing day. What is their fallback plan if gets depleted beyond a certain figure?

[Ulysses G.]

He volunteered for two weeks during GW1, and was fixing trucks....hardly like he served in the IDF.

Now THAT seems like a legitimate point. I have heard over and over again that he was a soldier in the IDF. There sure is a lot of BS on the Internet.

[F430murci]

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

That's an interesting interpretation. Many pundits think that Saudi are deliberately keeping the price low to force the more leveraged US frackers, ones with tight margins, out of business.

Russia is sat on $450 billion of reserves so they aren't exactly going bust yet.

Reserves mean nothing when 40% of your national budget is dependent upon your ability tosell at $100+/barrel. I provided loss figures at $90 & $85 6 months ago when EVERYONE on here said I was wrong (oil price would not be driven down) in early Russian sanction threads.

Sadly I was correct. I even noted how many barrels a day US could release in conjunction with OPEC increasing production and how many billions Russia would lose for each $ 10 incremental drop in price.

I only missed the mark in believing they would stop at $75 ish. I did not foresee Putin devaluing his currency to this extent.

RE: Oil Prices today

Putin took extreme measures to keep up with drop in oil prices by continually devaluing his currency. Incredibly risky move that has caused widespread harm to Russians.

Russians are getting slaughtered by the decreasing Ruble. Grocery store shelves are empty on certain items and Russians are having difficulty in buying food due to iinflation. They cannot buy cars or homes because interests rates are so high.

Further drop in price was in response to the devaluing of the Ruble. Even in the face of $57 per barrel and supply exceeding demand, US still increased supply by 1.2 million barrels on Wednesday when a normal response would have been a decrease. This is clearly about pressure on Putin.

US fracking will be there when needed. No need to tap that resource with supply exceeding demand. Hurts the few oil exploration investors, but low price benefits US overall.

The bigger issue now is concern that a potential decrease in demand is a sign of a global (outside US) slowdown or leading indicator of global recession lead by China and througout Asia and Europe.

[LawrenceChee]

It would be interesting in 2015 as president xi has made it clear that this is the new normal in his latest speech in the CCP

It means lower growth than 7.5% is now acceptable ...I can see that plus the oil prices tumbling is going to hurt quite a few people for 2015

[Morch]

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

That's an interesting interpretation. Many pundits think that Saudi are deliberately keeping the price low to force the more leveraged US frackers, ones with tight margins, out of business.

Russia is sat on $450 billion of reserves so they aren't exactly going bust yet.

<snip>

Russians are getting slaughtered by the decreasing Ruble. Grocery store shelves are empty on certain items and Russians are having difficulty in buying food due to iinflation. They cannot buy cars or homes because interests rates are so high.

<snip>

This and more...

Russia: Prostitutes hike prices as rouble falls

Prostitutes in the Russian Arctic port of Murmansk have unexpectedly hiked prices for their services by up to 40%, blaming the tumbling rouble exchange rate for their decision, it seems.

They also want to peg the cost of services to the dollar in the longer term if the situation doesn't improve, sources at one brothel tell the local FlashNord news agency. Two hours with a prostitute in Murmansk cost 3,000-7,000 roubles ($57-132; £36-84) before the price rise, the agency says. The management of another brothel says it's "trying to keep prices down, but the cost of living is rising and the girls can't work at a loss". The rouble has lost more than 40% of its value against the dollar and 60% against the euro since the start of the year, as a result of Western sanctions over Russia's involvement in the eastern Ukraine insurgency and a fall in oil prices.

Russian social media commentators are having a field day over the news, with some getting in digs at the authorities. "Putin - learn about the economy from the Murmansk prostitutes", tweets Andrei Negotov. Others, including Alexander Sitnikov on the NTV website, think the prostitutes should show some patriotism and "raise their rates for foreigners, in reply to sanctions".

http://www.bbc.com/news/blogs-news-from-elsewhere-30311546

Edited December 14, 2014 by Morch

[Chicog]

Oh the humanity...

[chuckd]

http://www.nytimes.com/2002/03/06/us/ethnic-comments-rattle-race-for-congress.html

The controversial comments were made at a breakfast to celebrate Casimir Pulaski Day, when schools and government offices here close to honor the Polish-American Revolutionary War hero. Edward Moskal, president of the Polish American Congress, a political action committee that had endorsed Ms. Kaszak and gave her an award at the breakfast, called Mr. Emanuel a ''millionaire carpetbagger'' and suggested, erroneously, that he had dual citizenship with Israel and had served in its armed forces.

Some charged that Emanuel was an Israeli citizen or a dual U.S.-Israeli national (he is neither, he was born in Chicago in 1959); or, they alleged that he served in the Israeli Defense Forces (IDF), losing his finger confronting a Syrian tank during the 1982 Israeli invasion of Lebanon (he did not serve in the IDF, and lost his finger in a freak accident while working as a teenager in an Arby's restaurant). A few accused Emanuel of skipping U.S. military service to join the IDF in 1991 (also not true -- in the midst of the 1991 Gulf War, while U.S. forces were manning Patriot missile batteries in Israel and the Arab Gulf, Emanuel volunteered for a few weeks, as a civilian, doing maintenance on Israeli vehicles). The most recent story alleges that Rahm Emanuel was fired from the White House in 1998 after being implicated by the FBI, together with Monica Lewinsky, in a Mossad plot to spy on then-President Clinton (a total fabrication, compliments of a shady character who claims to have been a U.S. intelligence official and is a purveyor of many bizarre tales).

http://www.huffingtonpost.com/james-zogby/rahm-emanuel-and-arab-per_b_143976.html

I am pretty sure that if one checks Obama's advisers, staff and people getting to whisper in his ear there are bound to be representatives related to many potential interest groups.

"I am pretty sure that if one checks Obama's advisers, staff and people getting to whisper in his ear there are bound to be representatives related to many potential interest groups"

Reading that last sentence, the name that springs to mind is his closest adviser...Valerie Jarrett.

American citizen, born (and raised partly) in Iran.

My point was rather that laying unfounded blame based on partial biographical bits taken out of context is a slippery slope.

Perhaps something like this article from Chicago media will make that slope a little less slippery.

------------------------------------------------------------------------------

The Truth About Valerie Jarrett, Mystery Woman of the White House

PUBLISHED JAN. 31, 2014, AT 10:06 A.M.

From the article:

"Others in media and Washington circles portray Jarrett, who held top positions in Chicago government and business, as a brilliant strategist and thinker who practically runs both wings of the White House and who did as much or more than anyone to put the Obamas there. In 1991, Jarrett, then Mayor Rich Daley’s deputy chief of staff, offered Michelle Robinson a job in City Hall. Before Michelle accepted, she insisted that Jarrett meet with Michelle’s fiancé Barack Obama. Jarrett promptly took both under her wing and, over the years, introduced Barack to the inner Daley circle, to wealthy business people, and to the people who mattered in her enclave, Hyde Park—all of which helped Obama as he moved up from community organizer to Springfield to Washington."

Entire article here: http://www.chicagomag.com/Chicago-Magazine/Felsenthal-Files/January-2014/The-Mysteries-and-Realities-of-Valerie-Jarrett-Mystery-Woman-of-the-White-House/

[Publicus]

It would be interesting in 2015 as president xi has made it clear that this is the new normal in his latest speech in the CCP

It means lower growth than 7.5% is now acceptable ...I can see that plus the oil prices tumbling is going to hurt quite a few people for 2015

Up until two years ago almost everyone save a few lone voices spoke only of the endless growth of the CCP's economy in the PRC and of how the Chinese would overtake the US as the largest economy. Now how the mighty have fallen and the tune changed, radically changed.

While it is good and encouraging to see the admission of a slowdown in GDP growth by the CCP, the figure of 7.5% indicates the breadth and the depth of the realities have not sunk in yet, as is indicated by the following analyses. For instance, how does 2% Chinese annual growth sound...or even a Great Crash of China due to the Great Hole of China which refers to everything from its banks to its debt to GDP ratio of 250%.

Everything is wrong in the CCP's political economy, its built on quicksand banking system both the official and the shadow banks, the many massive bubbles now beginning to burst.....well, let the experts speak of it by giving just one example quoting Premier Li Keqiang who is in charge of the economy, not Xi Jinping, although it does not matter because neither knows anything about it at all....

The Doomed Dragon: Is China's Economy Headed for a Crash Landing?

How fast is China growing? The place to start is the official position of Li Keqiang, who as premier is in charge of the economy. In a speech last October, he said each percentage point of growth of gross domestic product produces 1.4 million jobs. Applying Premier Li’s formula to 7.7 percent growth, China should have created 10.8 million new jobs last year.

So how many jobs were in fact created in 2013? China’s Ministry of Human Resources and Social Security has the official number: 2.73 million.

Premier Li’s formula, applied to 2.73 million jobs, gives us 2.0 percent growth. The International Monetary Fund also has a formula, which results in a 2.2 percent figure. Morgan Stanley’s formula says 1.6 percent or 1.7 percent growth.

Despite almost nonexistent job creation—a 0.36 percent increase in 2013—Premier Li is not worried. In September at Davos, he said that in the first eight months of this year, China had created 10 million new jobs. If we take him at his word—1.25 million new jobs a month—it means this year China will create more than five times the number of jobs it created last year, even though the economy is now growing slower than last year.

http://nationalinterest.org/feature/the-doomed-dragon-chinas-economy-headed-crash-landing-11619

It is significant to note the language of the headline in the distinguished National Journal, which reads "Crash Landing." Two years ago the universal language was a "hard landing."

The Great Crash of China.

Edited December 14, 2014 by Publicus

[Publicus]

chuckd, on 15 Dec 2014 - 01:27, said: Perhaps something like this article from Chicago media will make that slope a little less slippery.------------------------------------------------------------------------------

The Truth About Valerie Jarrett, Mystery Woman of the White House PUBLISHED JAN. 31, 2014, AT 10:06 A.M. From the article: "Others in media and Washington circles portray Jarrett, who held top positions in Chicago government and business, as a brilliant strategist and thinker who practically runs both wings of the White House and who did as much or more than anyone to put the Obamas there. In 1991, Jarrett, then Mayor Rich Daley’s deputy chief of staff, offered Michelle Robinson a job in City Hall. Before Michelle accepted, she insisted that Jarrett meet with Michelle’s fiancé Barack Obama. Jarrett promptly took both under her wing and, over the years, introduced Barack to the inner Daley circle, to wealthy business people, and to the people who mattered in her enclave, Hyde Park—all of which helped Obama as he moved up from community organizer to Springfield to Washington."

Entire article here: http://www.chicagomag.com/Chicago-Magazine/Felsenthal-Files/January-2014/The-Mysteries-and-Realities-of-Valerie-Jarrett-Mystery-Woman-of-the-White-House/

Will this new gossip column be a weekly or monthly regular feature....perhaps daily....

[NeverSure]

It would be interesting in 2015 as president xi has made it clear that this is the new normal in his latest speech in the CCP

It means lower growth than 7.5% is now acceptable ...I can see that plus the oil prices tumbling is going to hurt quite a few people for 2015

Up until two years ago almost everyone save a few lone voices spoke only of the endless growth of the CCP's economy in the PRC and of how the Chinese would overtake the US as the largest economy. Now how the mighty have fallen and the tune changed, radically changed.

While it is good and encouraging to see the admission of a slowdown in GDP growth by the CCP, the figure of 7.5% indicates the breadth and the depth of the realities have not sunk in yet, as is indicated by the following analyses. For instance, how does 2% Chinese annual growth sound...or even a Great Crash of China due to the Debt Hole of China to include its Debt to GDP ratio of 250%.

Everything is wrong in the CCP's political economy, it's built on quicksand banking system both the official and the shadow banks, the many massive bubbles now beginning to burst.....well, let the experts speak of it by giving just one example quoting Premier Li Keqiang who is in charge of the economy, not Xi Jinping, although it does not matter because neither knows anything about it all....

The Doomed Dragon: Is China's Economy Headed for a Crash Landing?

How fast is China growing? The place to start is the official position of Li Keqiang, who as premier is in charge of the economy. In a speech last October, he said each percentage point of growth of gross domestic product produces 1.4 million jobs. Applying Premier Li’s formula to 7.7 percent growth, China should have created 10.8 million new jobs last year.

So how many jobs were in fact created in 2013? China’s Ministry of Human Resources and Social Security has the official number: 2.73 million.

Premier Li’s formula, applied to 2.73 million jobs, gives us 2.0 percent growth. The International Monetary Fund also has a formula, which results in a 2.2 percent figure. Morgan Stanley’s formula says 1.6 percent or 1.7 percent growth.

Despite almost nonexistent job creation—a 0.36 percent increase in 2013—Premier Li is not worried. In September at Davos, he said that in the first eight months of this year, China had created 10 million new jobs. If we take him at his word—1.25 million new jobs a month—it means this year China will create more than five times the number of jobs it created last year, even though the economy is now growing slower than last year.

http://nationalinterest.org/feature/the-doomed-dragon-chinas-economy-headed-crash-landing-11619

The Great Crash of China.

This post bears repeating. I can't for the life of me understand how some people think China is the Next Big Deal.

Nice post.

[LawrenceChee]

The odds is USA will crash faster than China is more real

China has the correct leadership to firmly deal with the shadow loans etc and have the time and the reserves to correct this and the markets will adjust slowly to a slower China. I have been talking about this since last year because they realized they have to take firm action lest they follow USA into auto destruction of their own economy

USA on the other hand while still attempting to correct themselves doesn't have any firm leadership in place and a bi partisan government that is never going to work together ever unless there is camera kiss ass time

The only time they agree is to approve budgets to keep the government afloat as they cannot bring themselves to the realities of a Greece bailout or government revamp as the politics is difficult to steer through on whose agendas is more important

Either one crashing will bring devastating results to all the pensioners here on this forum depending on that social security check

I doubt there are many here depending on the CCP handout. I being ever Chinese have gold bars as my own backup

[squarethecircle]

I'll say it again: the country who protects their nerds, rules the world.

The idea is linked in here, an essay by LISP creator and angel investor Paul Graham:

http://paulgraham.com/wealth.html

He argues that Europe became a superpower, source of invention and science, etc., simply because its governance system allowed people who made money to keep it. Once you allow this, people have the incentive to generate wealth and value merely by creating it, rather than stealing it. More on this in that article, but he makes a crucial point as regards military power:

He points out that the inventor of the stealth fighter technology was Russian. The good Russians are very capable of generating wealth and value, but Russia did not have the computer industry necessary to implement the new technology, which Graham asserts is a simple result of the fact that nerds in Russia have their lunch money stolen by the reigning mobsters; there is no system in place by which their creatives are free to generate wealth and keep the proceeds of what they do. So naturally many/most of Russia's finest fled overseas, to the benefit of the countries they fled to.

Something similar I believe - and this is tentative - applies in the current-day PRC: one case that comes to mind (by word-of-mouth as I don't remember the specifics) is: the technology for QQ, a popular P2P network in China, was stolen by the nerds who invented it, by the better-connected TenCent company. People who are well-connected in China are the ones who keep the wealth/value generated by the nerds, so again there is not the foundation in place for a sustainable system.

As far as other groups who want to take greater control: well there's the Islamofascists, but their ideas are flawed because you can't move forward in the 21st century with 7th century idealogy (they wouldn't be able to create the cell phone technology necessary to explode their murderous bombs). Winston Churchill noted the same thing a century ago: the only reason Europe hasn't been overtaken by Islamists is due to its science and knowledge. Africa won't due to corruption problems, perhaps same with South America.

So if Graham is correct, the question is: which countries DO protect their nerds and let them keep their lunch money?

Edited December 14, 2014 by squarethecircle

[Choctastic]

"...a brilliant strategist and thinker who practically runs both wings of the White House and who did as much or more than anyone to put the Obamas there.

Entire article here: http://www.chicagomag.com/Chicago-Magazine/Felsenthal-Files/January-2014/The-Mysteries-and-Realities-of-Valerie-Jarrett-Mystery-Woman-of-the-White-House/

'...chairman of the board of the Chicago Stock Exchange; a director of the Federal Reserve Bank of Chicago'

Says it all, really.

Connecting the dots... http://blogs.forward.com/the-shmooze/135922/presidential-aide-valerie-jarrett-discloses-her-je/

[spidermike007]

Obama's done a superb job (in context) both domestically and internationally. These moderate center-right leaders (that is, Democrats) always get bad press and the ire of the 'angry white males'.

The idea that the USA isn't 'winning the game' at present (and as always) is bizarre, though, even for people who know very little background. Here are the simple facts found by reading headlines, not even news stories:

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

2. Russia bankrupt

3. US growth around 4%

4. Chinese economy frightfully stalled

5. Abe in Japan, Modi in India - perfect for US plans

The observer needn't even need to know that Chinese economic reporting is so dubious as to be nearly meaningless, or that its long term demographic situation is disastrous, or that the main order of business for maintaining US hegemony throughout the 21st century is encirclement of China (destruction of Putin regime, build up of Japan-India-US-EU alliance) - the obvious trend of headlines is apparent: The US is winning big..

Thanks Obama.

Here we go again ..."who's winning" yawn ......I think the true mark of a win for a government in its effectiveness is how happy their people are taken care of ...in that context the Scandinavians are getting a a good bargain for the taxes they pay

In Denmark a Burger King worker makes $20 per hour, and has good benefits. In the US, in cities like San Diego, a shift manager at Burger King makes $9 per hour, with few benefits. Who has the higher quality of life? What has Blundering Barry done for the lower classes in the US? Sure, he has made the super rich, fabulously rich. Sure, he has earned a lot of money for the lobbyists. But, for the average American, are they better off than they were in 2008? Very few that I know would answer in the affirmative.

[F430murci]

Obama's done a superb job (in context) both domestically and internationally. These moderate center-right leaders (that is, Democrats) always get bad press and the ire of the 'angry white males'.

The idea that the USA isn't 'winning the game' at present (and as always) is bizarre, though, even for people who know very little background. Here are the simple facts found by reading headlines, not even news stories:

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

2. Russia bankrupt

3. US growth around 4%

4. Chinese economy frightfully stalled

5. Abe in Japan, Modi in India - perfect for US plans

The observer needn't even need to know that Chinese economic reporting is so dubious as to be nearly meaningless, or that its long term demographic situation is disastrous, or that the main order of business for maintaining US hegemony throughout the 21st century is encirclement of China (destruction of Putin regime, build up of Japan-India-US-EU alliance) - the obvious trend of headlines is apparent: The US is winning big..

Thanks Obama.

Here we go again ..."who's winning" yawn ......I think the true mark of a win for a government in its effectiveness is how happy their people are taken care of ...in that context the Scandinavians are getting a a good bargain for the taxes they pay

In Denmark a Burger King worker makes $20 per hour, and has good benefits. In the US, in cities like San Diego, a shift manager at Burger King makes $9 per hour, with few benefits. Who has the higher quality of life? What has Blundering Barry done for the lower classes in the US? Sure, he has made the super rich, fabulously rich. Sure, he has earned a lot of money for the lobbyists. But, for the average American, are they better off than they were in 2008? Very few that I know would answer in the affirmative.

Burger King shift manager is not average American. Minimum wage is $ 9.00 in California, So shift manager makes same as fry guy or cashier girl in San Diego?

Burger King assistant managers make in the low 30s and store manager make in the 40s. Shift managers could be high school kids. Sure your not mixing positions?

If a burger cost $3.00, there is only so much profit margin left over to pay your staff. Feel really bad for anyone older than 20 working as a shift manager at BK.

My 18 daughter works part time doing displays at Forever 21, makes about $13.00 and gets cheap clothes. My 17 year old averages about $20 an hour on weekends doing catering.

[Morch]

"...a brilliant strategist and thinker who practically runs both wings of the White House and who did as much or more than anyone to put the Obamas there.

Entire article here: http://www.chicagomag.com/Chicago-Magazine/Felsenthal-Files/January-2014/The-Mysteries-and-Realities-of-Valerie-Jarrett-Mystery-Woman-of-the-White-House/

'...chairman of the board of the Chicago Stock Exchange; a director of the Federal Reserve Bank of Chicago'

Says it all, really.

Connecting the dots... http://blogs.forward.com/the-shmooze/135922/presidential-aide-valerie-jarrett-discloses-her-je/

Doesn't say nothing, really. Unless one is bent on connecting imaginary dots on imaginary lines.

[Publicus]

Obama's done a superb job (in context) both domestically and internationally. These moderate center-right leaders (that is, Democrats) always get bad press and the ire of the 'angry white males'.

The idea that the USA isn't 'winning the game' at present (and as always) is bizarre, though, even for people who know very little background. Here are the simple facts found by reading headlines, not even news stories:

1. Oil $60, caused by US fracking and the rock-solid control of Saudi Arabia

2. Russia bankrupt

3. US growth around 4%

4. Chinese economy frightfully stalled

5. Abe in Japan, Modi in India - perfect for US plans

The observer needn't even need to know that Chinese economic reporting is so dubious as to be nearly meaningless, or that its long term demographic situation is disastrous, or that the main order of business for maintaining US hegemony throughout the 21st century is encirclement of China (destruction of Putin regime, build up of Japan-India-US-EU alliance) - the obvious trend of headlines is apparent: The US is winning big..

Thanks Obama.

A superb executive summary of the state of the world in its reality, presently and going forward.

[Publicus]

I'll say it again: the country who protects their nerds, rules the world.

The idea is linked in here, an essay by LISP creator and angel investor Paul Graham:

http://paulgraham.com/wealth.html

He argues that Europe became a superpower, source of invention and science, etc., simply because its governance system allowed people who made money to keep it. Once you allow this, people have the incentive to generate wealth and value merely by creating it, rather than stealing it. More on this in that article, but he makes a crucial point as regards military power:

He points out that the inventor of the stealth fighter technology was Russian. The good Russians are very capable of generating wealth and value, but Russia did not have the computer industry necessary to implement the new technology, which Graham asserts is a simple result of the fact that nerds in Russia have their lunch money stolen by the reigning mobsters; there is no system in place by which their creatives are free to generate wealth and keep the proceeds of what they do. So naturally many/most of Russia's finest fled overseas, to the benefit of the countries they fled to.

Something similar I believe - and this is tentative - applies in the current-day PRC: one case that comes to mind (by word-of-mouth as I don't remember the specifics) is: the technology for QQ, a popular P2P network in China, was stolen by the nerds who invented it, by the better-connected TenCent company. People who are well-connected in China are the ones who keep the wealth/value generated by the nerds, so again there is not the foundation in place for a sustainable system.

As far as other groups who want to take greater control: well there's the Islamofascists, but their ideas are flawed because you can't move forward in the 21st century with 7th century idealogy (they wouldn't be able to create the cell phone technology necessary to explode their murderous bombs). Winston Churchill noted the same thing a century ago: the only reason Europe hasn't been overtaken by Islamists is due to its science and knowledge. Africa won't due to corruption problems, perhaps same with South America.

So if Graham is correct, the question is: which countries DO protect their nerds and let them keep their lunch money?

The long and the short of it is that free and open societies advance because they become dynamic. Old and restrictive ones stagnate or regress. This has been the central characteristc of the world over the past 300 years. This reality will remain so foreseeably.