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View Diary: President Obama wants Wall Street's money, but he needs working America's votes (274 comments)

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  •  Dont' forget that China is ready (2+ / 0-)
    Recommended by:
    banjolele, mightymouse

    to implode and Europe's bosses are riding the Austerity Train straight to Hell. I predict strong growth in the Molotov cocktail, bandana and Maalox industries.

    Unless you're directly benefiting from the fleecing somehow, all your blind investment in establishment politics has bought you, is a dog-and-pony show.

    by James Kresnik on Sun Jun 26, 2011 at 07:37:04 PM PDT

    [ Parent ]

    •  I think China is actually adapting pretty well. (0+ / 0-)

      As their wage levels go up, they are abandoning the low-wage low-value industries (those are moving now to Vietnam and Cambodia), and concentrating on higher-value industries like transportation, agribusiness and infrastructure. Those industries also give the Chinese the advantage of relocating their own economic activity overseas, instead of just having all the low-wage factories move to China. That increases their political influence as well as their economic reach.

      And we have yet to hear from India, which is rapidly approaching the takeoff point in its own economic development.

      The 19th century was Europe's. The 20th century was America's. The 21st century will be Asia's.

      •  Well that's long term. (0+ / 0-)

        Short term is that China has, almost by necessity, an overheated, resource-stretched, economy that is far too large and fast-moving to avoid an approaching bubble. The shift you're describing will take at least a couple of decades.

        India is experiencing a growing and increasingly violent rift between wealthy and poor that will either stymie further development or spark a social break-down. Long term the outlook is positive for the BRIC, but short term promises to derail global economic and toss Western governments into a financial tailspin.

        Unless you're directly benefiting from the fleecing somehow, all your blind investment in establishment politics has bought you, is a dog-and-pony show.

        by James Kresnik on Mon Jun 27, 2011 at 04:18:12 PM PDT

        [ Parent ]

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