The arrogance of power

The American senators wanted to punish China for not revaluing its Yuan. What rubbish! They wanted the Yuan to float so that they can manipulate it to their advantage. And they have roped in the World Bank and the IMF to sing their song. How atrocious can they be? The world's greatest manipulator of currency complaining about China who refused to let its currency to be manipulated as the manipulator. At least the UN, through UNCTAD, could see through the flawed and mischievious American argument and is calling on China not to float its Yuan. The peg on the Yuan has ensured stability in the financial world to facilitate growth by the developing countries. Floating the Yuan will allow the Americans to continue in their mischievious role in money speculation, price confusion and trade distortion which led to the global economic crisis. And there was this article in mypaper by another mad man called James Rickards. He claimed that 'it is the greatest bubble in history with the most massive misallocation of wealth.' And he was pointing his finger at China and Russia. Didn't he realised that the biggest bubble in history has just burst, in America? The greatest bubble had popped and he failed to see it and is blaming everyone for it. The greatest and massive misallocation of wealth is in America, where money were made in the billions, or robbed, by the most unproductive people in the finance industry. They did not produce any goods except pieces of papers which they sold to the world as worthless collaterals. The world shall stand by and watch the greatest failure of the 21st Century. Will it be America or China? And if the guru of liberal economics goes down the drain, the ardent followers and unthinking students will go down together.

Motor Insurance - The robbing must stop

The headline in ST, Insurance relief for motorists! What relief? They have increased the premium over the last few years by at least 40 to 50% and they said any rise this year will be marginal. What a hogwash. Look at the numbers given, record premium collected at $1.08b. Claims were $44.5m last year from $214m the year before. So where is the big losses incurred by the industry? What we are seeing are big profits. Who is responsible to stop the robbing of motorists by the insurers? Motor insurance is compulsory and motorists cannot say no but just pay grudgingly. Isn't there anyone or agency or ministry responsible to look after the interests of the motorists? Oh, a report is coming out today from the Motor Insurance Taskforce. And everyone knows that there is a big scam in motor insurance claims. And the buck was simply passed to the innocent motorists to pay. How convenient! How could this happen here? Let's see how much more will motor insurance premium be raised.

The unfathomable depth of intelligence

The whole world is so foolish. Why are they so afraid of inflation? Why are they so afraid of high property prices and property bubble? And the Americans too are getting silly, trying to curb speculations in derivatives and hedge funds activities and more stringent regulations on their brilliant bankers. And what is so wrong with huge income gap between the rich and poor? The bigger the gap, the better. They should come down to paradise and take a lesson or two on how good inflation is, how good high property prices is, how good deregulations and hedge fund activities and derivative tradings are. And they would surely be impressed by our world class number one income gap between the rich and poor. We are the best, with the unfathomable depth of intelligent beans, everything is just fine. Oops, my mistake, I mean demigods and immortals.

What arrogance of strength?

China had many embarrassing and humiliating experiences with arrogance of strength in the past. The British sold the Chinese opium only to be confiscated and burnt by the Chinese. They declared war on that ground, raided China, demanded indemnity for war raparation and the opium, including seizure of Hongkong. That was arrogance of the British Empire. The Americans followed by demanding that 5 ports be opened as free ports. Another arrogance of strength. Then the rest of the wolf pack consisting mainly Europeans powers, plus Russia and Japan followed to designate Chinese territories as their territories. That was arrogance of strength. Today, the American signed a defence treaty with a renegade defeated political party in Taiwan and insisted that they have now a legal right to arm and defend Taiwan. This is arrogance of strength in modern day. And the Americans and British cooked up the threats of WMD to invade Iraq and murdered its President, turned the country into a war zone, and getting away free without anyone daring to whisper a word about war crimes. And better still, dragging all its weak allies to help in the killings of the Iraqis. This is arrogance of strength. Is China exhibiting an arrogance of weakness? In the first place it was not even arrogance but standing up to the number one bully. You call that arrogance? Bloody fool! And China is weak? The whole of Europe can join forces and do a 8 Nations attack on Beijing today, like they did before, and see if China is weak. The US can also try to test how weak China is today. Between the two, I must admit that China is very much weaker. But it is not that weak for the US to attempt to be adventurous.

The fictitious American War against China

The Americans are accusing China of everything under the sky. The latest is currency manipulation. Who owns the major hedge funds manipulating currencies around the world? Or perhaps the Americans are angry because they could not manipulate the Yuan as it is pegged at a fixed rate against the dollar? Unpegging it and letting it free will be fertile ground for the American hedge funds to do untold damages to the Yuan and Chinese economy. I think this is likely to be the real reason. Oh, the Chinese are causing job losses in America, and unemployment problems. Why? Did the Chinese put a gun at the American companies to shift their production lines to China? And when these companies moved to China, they are making profits for who, for the Chinese or Americans? And China is the world's number one polluters of the environment. Their factories are pumping up all the gases into the sky. By the way, who owns these factories or the products and manufacturing processes? Isn't it true that the Americans didn't want them to pollute their own environment and the convenient place is to park them in China to do the polluting? In turn the Chinese are sweating it out in the factories to make the products for pittance and only to sell them cheaply to the American families. How atrocious can the Chinese be? Working so very hard to earn a bowl of rice on the table to enable the Americans to pay cheaply for their hard work. It is sinful! And the Chinese are hoarding trillions of Treasury Bills. Did they robbed them from the Americans? Whose faults, the Chinese of course. Put up more tariffs and taxes, maybe sanctions against the China. Or go to war with China.