For all we know, recession is already in all the Western
countries. Statistics can be massaged to show there is no recession,
just like job figures. I understand they have changed the formula for
classifying recession. And subsides have been given a new name -
Inflation reduction. Very ingenious indeed!
What about changing
the term 'decoupling' to 'derisking' when everyone knows they mean the
same thing, however much they want to twist and put a spin on it. How
could job data be so wrong by hundreds of millions over several months?
Oh, I forgot the USA is a nation of liars. They openly admitted that
they lie, cheat and steal, didn't they? Would you be brave enough to
trust their figures plucked from the air, just like their currency,
backed by hot air. Just take it that they have their 'exceptionalism' to
do things that others cannot even think of.
USA retail sales
are up, and job creation is said to be solid in November. Now the Fed is
rethinking its interest rate cut. Factors such as consumers already
having advanced knowledge of Trump's tariffs on imports have given a
boost to spending, with consumers trying to avoid having to pay more
when tariffs are imposed. Then there is the year end festive period
adding to the sales boom, needing more workers. Trump will now gloat
about the positive effect of his re-election pushing up jobs and retail
sales. Trump never miss any opportunity to take advantage of any
positive news.
The point is, when the shit hits the fan, he will
definitely push any negative news to poor Biden. Not that Biden cares,
as it is one advantage that he has his dementia to fall back on. But
then, Biden is not going to admit he has dementia, just like a drunk
always claiming he is sober. His dementia resulted in his 'missing in
action' at the G7 and G20. Some said that he was missing from a
photoshoot, having a person to person talk with a tree, LOL.
Anonymous
Normally for an industry to kill off its competitors, it takes years, even decades to be able to take over just specific sectors. The Japanese took decades to take over car manufacturing from the USA. Same for the Japanese taking over the electronics industry and shipbuilding from the USA.
ReplyDeleteIn turn, the South Koreans took years to pry away the Japanese domination of the electronics sector like high-definition TVs, shipbuilding and infrastructure construction.
But the speed of China taking over many industries is at warp speed, which caught the USA, EU, Japan and South Korea by surprise and instilled un-nerving fear in them. China did not ever indicate openly to the USA or the West that it was trying to dominate industries, which probably did not even cross the minds of the USA and the West at all. China had been looked upon as a nation of unprogressive cooks and laundrymen. But the quiet domination of China in many sectors of industries was really nerve-wracking for the USA and its allies when the reality confronted them.
The USA, EU and Japan are now closing more and more car factories, probably the last legacy of their illustrious domination, due to falling sales and inability to compete arising from costly labor, expensive energy, lack of skilled labor stifling innovation and productivity. The West blamed everything on subsidies. We know that long term subsidies cannot be sustained and will bankrupt China in no time. How is that a reason for every car manufacturer in China to be subsidized when China is not at liberty to print money like the USA.
Many economists have touched on the fact that it took centuries for Western countries to industrialize and dominate particular industries. China just took 30 to 40 years to do what the West took centuries to do in the past. That is the kind of fear that China is posing to the USA and the West.
Hi Anon 6.30
DeleteThat's why Smart peoples worked quietly and atttacted little attention and goes for the kills.
Unlike those Hot Airs empty vessels boaster cocks, half tank of shits.
The Whites especially praised themselves skies high when they are just bullshittings.
Western carmakers are all on fire with massive debts, falling sales, ballooning inventories and operating at 60% capacity. There is a massive overcapacity now in the car manufacturing industry in the West. What happened to their market that is disappearing?
ReplyDeleteEven with a 'fire sale' of such car manufacturing logistics, who is going to buy those outdated machinery. Even investing by China in the USA is not going to happen now, unlike the past. Trade wars are easy to win?