China Unveils $586 Billion Economic Stimulus Plan :
In a sweeping move at a time when major projects are being put off around the world, Beijing said it would spend an estimated $586 billion by 2010 on wide array of national infrastructure and social welfare projects, including constructing new railways, subways, airports and rebuilding communities devastated by an earthquake in southwest China in May.
Why is it China is often smarter than the United States on economics?
Of course one would stimulate the economy with infrastructure projects, especially in the United States where they are crumbling as well as critical to a modern economy.
The only question to me is will Congress make sure those jobs go to U.S. Citizens?
Planning vs Chaos
The ultimate expression of communism vs capitalism. No wonder that GK Chesterton said, paraphrasing from memory here, that people become socialist not because they find socialism particularly enlightening, but because they find capitalism particularly tyrannical.
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Maximum jobs, not maximum profits.
China's: Redemption of TBills - Bernanke Inflates the Balloon
In July, we predicted the ChiComs would dump at least some the $1.5 Trillion of Treasuries they hold. Back then
we hoped to beat them to the punch with real infrastructure finance. Then came the campaign.
There still is a trick we could do with the Enterprise Bonds. Sell the ChiComs Enterprise Bonds. Take back Treasuries. Put Treasuries in the Fund. Cancel treasuries and issue Enterprise Bonds from within the Fund.
Otherwise, you do what Poulson and Bernanke will do: inflate
the U.S. Treasury balloon and hope the balloon does not pop.
You did buy gold, didn't you?
Burton Leed
Burton Leed
I did buy Gold
and lost my ass. uh, forgot about commodities in a recession and if I had listened to NDD I wouldn't have done something so stupid!
That said, longer out, as has been pointed out by many, eventually the chickens will come home to roost on the national debt, but right now it isn't happening.
Anybody reading this and is a gold bug, think very long term and get your timing right at least for I sure did not.
I didn't buy gold
Because I wanted to get it at the quoted spot price- and by the time I was ready, was completely unobtainium at that price (and no, I wasn't willing to invest in "gold paper" from somebody claiming to hold gold and sell a share of it).
Right now, I'm looking for something "safe". And not finding it. I just don't have enough trust, enough risk tolerance, to do anything right now.
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Maximum jobs, not maximum profits.
China Stimulus just for show
Forbes:
Article goes on to the details and looks under the hood.
Somebody posted, on one of the linked sites I think, about....
...the efficacy of less than one trillion dollar 'stimulus', most of which is being diverted to merchant bank pockets, on a....wait for it....
14 Trillion dollar economy.
Come on Barrack these assclowns are talkin' chump change. Mall every man woman and child a 10k check an let's....
...git rollin'.
'When you see a rattlesnake poised to strike, you do not wait until he has struck to crush him.'
Jim Cramer quipped
that they could send every single American a $50,000 check and it still would be cheaper than what they did.