Chinese economy collapsing under Biden

[otto105]

No, it's a record number of Americans....read the ABC link.

Look, I get you only care about yourself....dembots are selfish people, cult before country is the dembot motto.

but the reality is, your cult has made a record number of Americans worse off....and the majority of the country is rejecting it.

Poll finds 71% of Americans believe country is on wrong track​

Poll finds 71% of Americans believe country is on wrong track

First Read is your briefing from “Meet the Press” and the NBC Political Unit on the day’s most important political stories and why they matter.

www.nbcnews.com

Dude, that poll always thinks the country is fucked.

 

[otto105]

Cultists like you can always be counted on to believe statist propaganda. Right Otto?

What propaganda?


Unemployment isn’t currently 3.8%

We just had record travel over Labor Day weekend.


Are those not true in your mind.

 

[gipper]

What propaganda?


Unemployment isn’t currently 3.8%

We just had record travel over Labor Day weekend.


Are those not true in your mind.

Are you unaware of income inequality, massive indebtedness, HC costs, vax lies, enormous funding of a dumb provoked proxy war that has killed hundreds of thousands all to benefit a small cabal of war profiteers, while millions of Americans suffer homelessness and poverty? The real left cares about these things, but statist dupes don’t.

 

[otto105]

Are you unaware of income inequality, massive indebtedness, HC costs, vax lies, enormous funding of a dumb provoked proxy war that has killed hundreds of thousands all to benefit a small cabal of war profiteers, while millions of Americans suffer homelessness and poverty? The real left cares about these things, but statist dupes don’t.

Hilarious that you’re concerned about any of those things.

Income inequality has been growing since Reagan.

 

[struth]

Dude, that poll always thinks the country is fucked.

Yes, that’s what xiden’s done to a record number of Americans

 

[gipper]

Hilarious that you’re concerned about any of those things.

Income inequality has been growing since Reagan.

Do you think because it’s existed for so long you needn’t be concerned or demand your political leaders do something about it?

 

[themirrorthief]

We see here the instinctual idiocy of some MAGA Trumpsters to blame all economic problems (including good ones like China’s) on Biden & his Administration.

Many argue ridiculously that Biden is “in XiJinping’s pocket” or on his payroll. Nothing can be further from the truth.
sure
U.S. sanctions against Chinese high tech and defense-related companies are far more severe than they were under Trump, harsher than they have been since before China joined the WTO. With gov’t encouragement U.S. industry is now securitizing its trade and logistic relations with our allies (China is strongly effected & furious about this) and our policy of building anti-Chinese alliances — for example with Japan and South Korea as shown in today’s tripartite meetings — has been handled very cleverly (there are immensely distinct histories and trade interests involved.)

I am no war-hawk and have criticisms of some dumb moves made by both Democratic & Republican politicians in handling our now very difficult and complex economic & political relations with China. We need to be firm, but not adventurous, and do our best to keep open ordinary trade relations and useful mutual investing where possible. Xi is now under increasing pressure. We want the Chinese people to understand that ultimately it is the Xi regime and not the West that is holding them back.

But as expected, most “Trump Party” Republicans will never stop posturing and criticizing U.S. foreign policy so long as the Dems are in power, and arguing Trump was a genius in this field as in every other.

surely you are not saying all those millions China gave to Hunter was wasted cash????

 

[otto105]

Do you think because it’s existed for so long you needn’t be concerned or demand your political leaders do something about it?

What policy did the former 1-term president advocate for?

President Biden would like to tax the wealthy more and repubics fight it.

 

[gipper]

What policy did the former 1-term president advocate for?

President Biden would like to tax the wealthy more and repubics fight it.

Are you thinking I’m a Trump supporter or a Republican? Stop with the binary thinking, if so.

Don and Joe are very much alike on policy. Biden won’t tax the wealthy. That’s hilarious. Just like O and Bubba, he’s a big supporter of the wealthy. The D Party is the party of the wealthy.

 

[struth]

What policy did the former 1-term president advocate for?

President Biden would like to tax the wealthy more and repubics fight it.

Why didn’t he? The dems had all of congress for the first two years…why didn’t they undo the trump era tax cuts?

 

[otto105]

Why didn’t he? The dems had all of congress for the first two years…why didn’t they undo the trump era tax cuts?

Ever hear of something called the filibuster.

 

[Tom Paine 1949]

surely you are not saying all those millions China gave to Hunter was wasted cash????

Such a trite and petty “question” is not worth refuting or “answering” … again. I’ve responded anyway to such nonsense many times before.

***

I’m more interested in responding to the issues otto105 & gipper are discussing. Confused “libertarians” like gipper have no understanding whatever of the problems of modern economies, even if they correctly suspect that modern capitalism is “unfair” and has widened income differentials. There is no returning to the past.

Yet even liberal democracy probably can never resolve the fundamental problems of greed that modern finance capitalism magnifies and tries to “leverage.” Our present hybrid system of giant corporations, Wall Street, the Fed and liberal government strives to keep in balance a system whose complexity nobody really understands. It isn’t even clear whether this game is manageable over the long term.

This OP is about the new economic problems facing state-capitalist one-party authoritarian China, which I have already said I welcome. But it is not yet certain that China has entered a new long period of inevitable decline and social / political degeneration.

A new road under new leaders is pretty difficult to see at the present time, but it remains a possibility, as does the possibility that the CCP will somehow manage to survive and become an even more technologically advanced competitor.

The ruling regime and most bureaucrats there are cynical, abusive and corrupt. It is not clear if anyone in China has any idea of how to work the levers of a state-capitalist economy to get out of their present malaise, let alone motivate the public and powerful economic actors to build a better and freer society. Upheavals and “democratic revolution” are probably needed there before any fundamental changes are possible.

We really don’t know what the long-term prospects of a different sort of “free” state-capitalist (or “socialist”) society might look like in China, or if it could be realized successfully. We ought not to expect anything good from utopian dreamers … or authoritarian dictators.

For now, we in the West and the USA have a big enough job just to stop authoritarians at home, to defend our existing freedoms, and to keep liberal finance capitalism from destroying itself.

 

[struth]

Ever hear of something called the filibuster.

Haha what was filibustered? Provide us the bill that passed the house to undo the cuts that was filibustered in the senate…

 

[otto105]

Haha what was filibustered? Provide us the bill that passed the house to undo the cuts that was filibustered in the senate…

Ever hear of a closure vote?

 

[struth]

Ever hear of a closure vote?

No..I think you mean cloture

Haha but tell me when did the senate take one on a bill passed by the house that ended thr trump tax cuts?

 

[otto105]

No..I think you mean cloture

Haha but tell me when did the senate take one on a bill passed by the house that ended thr trump tax cuts?

It was dropped out of the reconciliation bill in the face of universal republic opposition.

 

[struth]

It was dropped out of the reconciliation bill in the face of universal republic opposition.

A reconciliation bill can’t be filibustered and therefore needs no cloture vote

I agree the gop opposed any bill to raise taxes. But the dems wouldn’t of needed the gop if it was in the reconciliation bill.

 

[otto105]

A reconciliation bill can’t be filibustered and therefore needs no cloture vote

I agree the gop opposed any bill to raise taxes. But the dems wouldn’t of needed the gop if it was in the reconciliation bill.

Still has to pass the house.

 

[struth]

Still has to pass the house.

Yeah and the dems had a majority there for two years

 

[rampart]

Well, well, well, another black mark against Biden. Seems to be a real estate issue which is about to take China's economy way down. This could be real bad news.

---Missed payments on investment products by a leading Chinese trust firm and a fall in home prices have added to worries that China's deepening property sector crisis is stifling what little momentum the economy has left.---

---A string of defaults in the shadow banking sector could have a wide ranging chilling effect as many individual investors are exposed to the high-yielding trust products.---

China's economic woes mount as trust firm misses payments, home prices fall

Missed payments on investment products by a leading Chinese trust firm and a fall in home prices have added to worries that China's deepening property sector crisis is stifling what little momentum the economy has left.

www.reuters.com

the chinese economy is biden's responsibility?

i don't pretend to understand these exciting new chinese "trust products" but i did see what wall st did to the global economy with their own "innovative investment products."