.......if we weren't in quite so deep a sleep.
Imagine an America where Conservatives weren't exposing a lot of what's going on, trying to wake people up? They can slam Beck all they want, they can insult, threaten, and mock him, but they simply can't contradict what he's saying....even when he begs them for an argument. This Chinese professor is right.........I wish it was American kids he was speaking to. But the left won't allow that, either.
Do you think he's right? Are we doing anything but blog about it? Will that be enough?
z
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I typed a lengthy response, but it failed to post, quite likely because Google / Blogger software engineers are still trying to figure out how to get in on this crazy "internet communications" idea people have been bandying about since the 1960s. Grrr.
I'll try again later.
Wow, scary ad. Well produced and it hits all the bumper sticker talking points. But, I'm a little confused.
Turning their backs on the principles that made them great. I agree with that but different reasons.
America tried to tax and spend itself out of a great recession. Enormous, so called "stimulus" spending. One third of the stimulus was TAX CUTS. As a percentage of GDP, the U.S. stimulus was about 6%. China injected $600B (U.S) into their economy in 2009, about 14% of their GDP. I guess the lesson is, we spent too little on our stimulus. They put their money into manufacturing and new technology. They didn't cut taxes. Their top tax bracket is 45%, ours 36%. Their corporate taxes are lower, but as we've seen from the GE example our corporate tax code is so full of Republican protected loopholes, Huge multi nationals pay little or no income tax. China's revenue from corporate tax is nearly 20%. Ours is 6%. They also impose a 17% value added tax.
As for spending, starting two long wars and passing a prescription drug bill, that prohibits the free market practice of negotiating prices, without raising the revenue to pay for them will put you in a big hole quickly. So, yeah, we spend too much and ignore the revenue side of the equation.
Massive changes to health care. In the 1980's, China abandoned it's Govt. run health care to a market based, for profit model. Their health care system collapsed. While hospitals are govt. owned they left the financing up to the consumer and the hospital. It was a failure and they are now pouring billions into health care with a goal of covering 90% of their population by 2011. They are moving towards universal coverage like the rest of the developed world. Our reforms are modest compared to China.
Government takeovers of private industries. Funny, about 50% of Chinese industry are govt. owned. The largest banks in China are State run. In the U.S., all we did was re-collateralize the banks, socialize their losses (buy their toxic "assests"), and pass a few minor regulations. The banks that were 'too big to fail', are now bigger. The problem is we DIDN'T take over the banks (put them in receivership), break them up and re-privatize them. Like we did with the S&L's.
The other big "takeover" was GM. That saved thousands of jobs, GM is now profitable, the govt. is being paid back, with interest, and GM now sells more cars in China than in the U.S. They are currently the #2 auto maker. Not bad.
And crushing debt. 2000, budget surplus. 10 years of tax cuts, unfunded wars, tax subsidized off shoring our manufacturing base, stagnant and falling wages and concentration (redistribution) of wealth upwards and you get trillion $ deficits. So, the takeaway is, the Socialist- market economy of China is eating our lunch. Supply side sucks. Right?
One of the most frighteningly prescient & well produced film clips I've ever seen. And one that will be ignored by the Liberals & Democrats to our peril.
Silvrlady
I agree with the premise of the video, that America does need to cut government waste, tighten up the budget with deep cuts, and get out of debt.
We can already see the effects of firing up the Federal Reserve's printing presses to monetize the debt. Because the US Dollar is also the reserve currency of international trade, we're keeping inflation in check at home [somewhat] with higher unemployment while spreading the economic destabilization that should be a lot worse here at home across the globe instead. A devalued US Dollar makes fuel and food prices skyrocket, which ultimately makes poor people even less able to afford to support themselves or their families. So they take to the streets rioting over food prices and voila, you've got the current explosions of revolutions in West Africa, North Africa, the Middle East, and Central Asia. This trend will continue as the Dollar drops further in value.
The only thing currently saving America from going back to Jimmy Carter style stagflation - double digit unemployment and double digit inflation at the same time, is that tax increases have been averted and hopefully will continue to be averted by the new Republican controlled House of Representatives.
But we've still got to get deficit spending under control. Build investor confidence [by lowering taxes FURTHER] and higher economic growth and lower unemployment will follow. This is Economics 101 stuff, really. The "priciples America has turned its back on" as the faux-Chinese professor said in the video.
Which leads me to the things I disagree with in the video:
- There's too many girls in that "2030 AD classroom." China's population control laws and forced abortions of female births is leaving China one big sausage party. There's not enough females to go around. In coming years, they're not even going to have enough children to put to work in their factories. China's population is already majority elderly and majority male. They're making themselves extinct.
- You think 20% unemployement (counting the underemployed) in the United States is bad with 300+ million people, half of which is employment age (not children or retired elderly), check out China's 20% FULL unemployment in a land of mostly old people and a short supply of women to bear the children of the next genreation. China's GDP with 1.3 Billion people is barely that of California ans Texas combined not counting the rest of the USA. That's roughly 260 million Chinese people, mostly men, who are completely useless to the Chinese economy. No future. China's population will drop, but their wealth and growth won't benefit from it. It can't.
- Increased fuel and food prices affects the Chinese just as it does everyone else in the world. Unless China commits to building nuclear power stations, all those bright lights on China's east coast you can see from orbit are going to go dark. Gas, coal, oil... China can't afford to run their factories at a profit now as it is, "cheap" labor or not.
- That "cheap" labor isn't so cheap, as only nations like America and a few others can afford it. If America finds a different favored trade partner than China, 75% of China's already laughably inefficient GDP goes bye-bye.
So no, in 2030, China will still be very much working for us. Hahahahaha, dink. Maybe they will even have paid for our war with Iran by then.
Maybe by 2030, Apple will be selling Chinese made touch screen Ipads buy one get six free at Walmart so those laughing suckers can scrimp and save all their life to share one with their classmates.
"you no toucha your dick! Make a radio" - Richard Pryor, on Chinese economics
"Reagan taught us hat deficits don't matter."
--- Dick "Skeletor" Cheney
I'm amazed by the fringe right's complete inability to accept their own history.
Anyway, corporate profits are strong, the bonuses are rolling in on Wall Street and we have an economy that doesn't do much more than move money around.
Of course when China gets caught holding a lot o bad paper they aren't going to be too happy and we'll always have the arms industry so it's not all pessimistic.
Glenn "Hot Chalk" Beck is probably insane and the second coming has NOTHING to do with the future of America. We aren't the focus of the divine.
Meanwhile, these huge deficits are a means to finally dismantle social programs and I expect a lot of people here are going to feel pain. Bow to Kapital and talk about freedom, suckers.
"Reagan taught us hat deficits don't matter."
--- Dick "Skeletor" Cheney
I'm amazed by the fringe right's complete inability to accept their own history.
Fail.
Reagan didn't raise public debt obligations to 90% of current GDP, like Captain Staplegun has.
I will repeat for the impaired. It is the cost of the debt service that is important. China is holding a lot of debt that won't even match inflation.
Reagan borrowed extensively at double digit rates. Obama is borrowing at one percent.
Do the math.
yeah yeah, Ducky I forgot it's Monday, when your arguments are pro-Obama, anti-Reagan. And tomorrow it'll be Obama is a fringe rightie. After that it'll be the Zionist Likudniks breaking the bank, followed by too much defense spending Thursday, Full Ayn Rand Friday, and Black Bush Saturday and back to Calvinism Sunday.
Reality check:
Obama has added more to the public debt obligations than was added over 200 years of Presidents from Washington through Reagan combined.
Come back when you have a clue, Ducky.
As if China is going to say "You no pay debt, we lessulect Saddam Hussein and unbomb Iraq."
GTFOOH...
China couldn't afford our products [which is the measure of the trade deficits] so they bought Treasury bills instead.
They've got a lot of confidence in the US economy's future. And why wouldn't they?
We can afford the Lego bricks for our kids they can't even figure out how to make affordable for their own kids.
If just Walmart alone stopped paying rent on just their warehouses in China, China's GDP would take a 3% hit.
We own them.
The gang of 54 new Republicans "got it."
The rest of the Republicans do not. And certainly not the Demorats.
We think, we believe, we swear: "it can't happen here. Not to us. We're different. We're favored."
Because we look outside and the fuel still flows, the clouds still scud by, the sky is still blue, we still sit in our homes, the TV is still on.
Just wait.
Like the Crash of 1929, that all can end in a DAY.
BZ
Beamish, check out this email I got last night:
Did you all see that Diane Sawyer has a special report coming up this week on this very subject? They removed ALL items from a typical, middle class family’s home, that were not made in the USA. There was hardly anything left besides the kitchen sink. Literally. During the special they are going to show truckloads of items – USA made – being brought in to replace everything. And will be talking about how to find these items and the difference in price etc. It was interesting that Diane said that if every American spent just $64 (more than normal) on USA made items this year, it would create something like 200,000 new jobs.
Check the Can
I WAS BUYING FOOD THE OTHER DAY AT WALMART. ON THE LABEL OF SOME PRODUCTS IT SAID 'FROM CHINA'.
FOR EXAMPLE THE "OUR FAMILY" BRAND OF THE MANDARIN ORANGES SAYS RIGHT ON THE CAN 'FROM CHINA'.
I WAS SHOCKED!! SO FOR A FEW MORE CENTS I BOUGHT THE LIBERTY GOLD BRAND OR THE DOLE SINCE IT'S FROM CALIF.
TAKES FOREVER JUST TO BUY FOOD AND DO LABEL READING ! !
Are we Americans as dumb as we appear --- or --- is it that we just do not think? While the Chinese, knowingly and intentionally, export inferior and even toxic products and dangerous toys and goods to be sold in American markets.
Yet 70% of Americans believe that the trading privileges afforded to the Chinese should be suspended.
Well, duh..why do you need the government to suspend trading privileges?
SIMPLY DO IT YOURSELF, AMERICA!!
Simply look on the bottom of every product you buy, and if it says 'Made in China' or 'PRC' (and that now includes Hong Kong), simply choose another product, or none at all. You will be amazed at how dependent you are on Chinese products, and you will be equally amazed at what you can do without.
Who needs plastic eggs to celebrate Easter? If you must have eggs, use real ones and benefit some American farmer. Easter is just an example, the point is do not wait for the government to act. Just go ahead and assume control on your own.
THINK ABOUT THIS: If 200 million Americans refuse to buy just $20 each of Chinese goods, that's a billion dollar trade imbalance resolved in our favor...fast!!
The downside? Some American businesses will feel a temporary pinch from having foreign stockpiles of inventory. Wahhhhhhhhhhhh!!! (that's me crying for them)
The solution? Let's give them fair warning and send our own message. Most of the people who have been reading about this matter are planning on implementing this on March. 13th and continue it until April. 9th That is only one month of trading losses, but it will hit the Chinese for 1/12th of the total, or 8%, of their American exports. Then they will at least have to ask themselves if the benefits of their arrogance and lawlessness were worth it.
Remember, March. 13th to April. 9th
Z: I have no problem spending two or three cents more on AMERICAN items....it's worth a try.
"Here's your money for our Treasury bills back, ten cents on the dollar, just like we promised. Now that we're pumping oil out of Brazil, you're gonna need something to pay the Arabs with for that oil you keep making into Tinkertoys for us. Tellyawhat... hang on to the T-Bills longer and we'll crash 'em in for 5 cents on the dollar. Hey it's better than nothing, right? Besides, Indonesia and Mexico makes better Tinkertoys than you. Look on the bright side. At least we're not making you build our railroads in the hot sun."
BZ, the problem is we're in to the blame game instead of figuring out how to fix things.
Z,
I agree and disagree with that email [figures, right? hehehe]
Buying the cheaper Chinese products means more people have things, so their standard of living is increased.
The downside is, the less American products sold, the more businesses and farms close here, people go unemployed [because Walmart can't hire EVERYBODY]
We can't go to autarkic self sufficiency [which is economic suicide anyway] but we shouldn't be buying foreign products that undersell domestic products they compete with.
If you must buy plastic Chinese Easter eggs, pack 'em up and reuse 'em again next year.
That Boba Fett shaped lump of Chinese plastic I had back in the 1980s is worth a house payment on Ebay now.
Are we on the way to gold replacing the U.S. dollar as the world's reserve currency? See THIS.
If so, we will experience a sea change in world economics.
Beamish, I think the motivation is good and I think all of our spending a few cents more here and there isn't going to make as big a difference as you suggest....I, for one, am going to try to do this; if nothing else but to make myself feel better for buying American.
We all know the CHinese products aren't as good, too...that's something to buy American for.
Trump said in a recent interview he has to buy Chinese now for building materials, etc., but they're crap compared to ours. Sad thing is, ours are more expensive and are going out of business. this has to change
It took us quite awhile to get to this point; it will take us quite a while to recover. Rasmussen is reporting 69% of Americans remain angry with the government. This idea that freshmen Republicans can turn the government on a dime is ridiculous —and dangerous. This ad is not about China: it is about the inept behavior of the US government. No one can blame China for taking advantage of an opportunity presented to them by leftists and socialist republicans. What should happen is that anyone watching this video begin thinking seriously about the implications of unchanged US behavior.
The number of comments generated by this video at YouTube is phenomenal. Not surprisingly, many of these comments levy charges of racism, which I find interesting on several levels. For example, I didn’t know the Chinese were a race. These comments illustrate how badly public education has failed us; we no long have the capacity for critical thinking —and no one better exemplify this than Ducky.
Gold's a bubble you don't want to be in when it crashes.
Right now, it's a good hedge, but as a reserve currency, it's insanity [not to mention a recipe for world war when it exacerbates recessions by freezing growth].
The Great Depression lasted longest in America because we were the last to get off the gold standard.
ALL of the gold mined in the entirety of human history and gathered into a pile of ingots and coins and trinkets and speaker wire and dental fillings and such would only be worth $7 Trillion Dollars.
That's not a reserve currency, that's $1033 per person on the planet trying to barter for ramen noodles.
We all know the CHinese products aren't as good, too...that's something to buy American for.
Trump said in a recent interview he has to buy Chinese now for building materials, etc., but they're crap compared to ours. Sad thing is, ours are more expensive and are going out of business. this has to change
My response to that is "Hungry? Eat your union card."
This ad is not about China: it is about the inept behavior of the US government.
Bingo.
Z, this is a great ad. It hits home and it should.
Mustang has the right take on this IMO, so I won't repeat what's already been said.
I would remind Ducky, that Reagan won the cold war, and he did it by building up our military, and introducing SDI, which scared the hell out of the Soviets and we just outspent them. They couldn't keep up.
So, while we had a deficit, it was our national security on the line. Did it cost money? Yes it did, but that is our government's primary duty, and that's to protect the American people. A nanny state is not.
Compare your US economics before 9/11 and after 9/11.
Compare Chinese economic Behavior of 10 years ago (They were still communist) and now (They are more capitalist than USA.
After 9/11, USA became protectionist.
USA products are more expensive but USA MADE has the quality and the people look for the quality and are ready to pay for the quality. However, USA has cut his export because of the 9/11.
The EU companies who want to buy the American products have to fulfill a kind of document where they have to denounce all their employees’ behavior and even all the political colors of their relatives from their childhood.
I am in electronics and telecommunications business, all the French companies had to stop their relationship with the biggest USA companies because of this kind of pressures exerced by the USA Government.
My own business people in USA told me that, they were seeing the US companies being closed one after other.
One of my friends saying that he had 25 employees before 9/11, (he was in video business), now he is looking himself for another job, (he has the temporary jobs).
I myself, I was buying USA components for 50 times more expensive than Chinese component, and I never wanted to replace the USA components with the chimes components, not because that I LOVE USA and I HATE CHINA,
BECAUSE YOU CANNOT COMPARE the USA made components with the electronics GARBAGE of CHINA.
The cheap GARBAGE of CHINA cannot be equal to the USA MADE components.
USA is making ARAKIRI,
At 9/11, you were hearted by the Terrorism.
Then you PUNISHED AMERICAN INDUSTRY AND AMERICAN HOW TO MAKE.
In addition, you continue to suicide yourself.
Why the Handicapped CHINEES SHOULD NOT PROFIT THE MAXIMUM from your USA DISTRESS?
SAM
Mustang! "racism"? That is insane whether chinese is a race or not!
This is absolutely about US and any country which sees something ripe for exploitation..and THAT IS US.
By our government itself and by outside richer countries..
Absolutely right.
We need to change....I do think we can change a lot with the Republicans back in charge, if that ever happens, but I also agree we can't re-educate two generations of Americans who believe entitlements are the American way or the Constitution is 'just a piece of paper and can be changed' and wearing your pants down around your crack and celebrating unwed mothers, etc etc., are all GOOD for a country.
Pris, Beamish and Mustang; Ducky still believes the Clinton was economy was good because of Clinton and not the Republican congress in charge, you can't teach these people much.
SAM...is this recent: "The EU companies who want to buy the American products have to fulfill a kind of document where they have to denounce all their employees’ behavior and even all the political colors of their relatives from their childhood."
the last two years or since the EU began?
SAM, you also said "Why the Handicapped CHINEES SHOULD NOT PROFIT THE MAXIMUM from your USA DISTRESS? "
Why, indeed?
And WHY SHOULD THE LEFTWING 'ONE WORLD' DOPES NOT PROFIT THE MAXIMUM FROM MY USA IN DISTRESS?
Z;
This Inquisition has started just after 9/11.
Why the Chemise or any other handicapped (on technology) should not profit from the dead USA?!
Z;
Equivalent of Channel Masters; Scientific Atlanta; Harris; Fairechild; Tektronics; MOTOROLA; and many, many USA MADE technologies do not existe, and we can not replace them ( and never, never with the Asiatic garbages), but we had to abandon those marvelous technologies, and most of them are either closed or reduced to nothing.
Z;
Only the research centers of HARRIS were extended to more than 50Km of length (this is a small country), plenty of technology and several thousands of patents (worth more than several thousands of trillions of USD$), WorldCom who had more than 60 % of the planet telecommunications, OH my GOD.
Even the whole USSR and CHINA Nuclear BOMBS could not destroy WONDERFULL USA ELECTRONICS and TELECOM industries as your rulers did.
I am so sorry to tell you that << the Chinese professor in your video was more than right>>,
The truth is that, the Chinese will govern you very soon, and the Chinese government means the slavery for the Americans and Europeans.
SAM
Ducky still believes the Clinton was economy was good because of Clinton and not the Republican congress in charge, you can't teach these people much.
1994-1998, falling deficits. 1998- 2001, budget surplus with Clinton and Republican Congress. 2002, '03, '04, '05, '06,
ever increasing deficits. What changed? Same Congress, Republican Pres. Please explain that to me.
1994-1998, falling deficits. 1998- 2001, budget surplus with Clinton and Republican Congress. 2002, '03, '04, '05, '06,
ever increasing deficits. What changed? Same Congress, Republican Pres. Please explain that to me.
1994-2001, spending cuts to a "projected" surplus that never materialized and justified cutting taxes
2001 - 9/11
2002-2006 - House and Senate Budget Commitee Democrats block Fannie Mae / Freddie Mac reform from getting a floor vote; Iraq War; Hurricane Katrina knocks Gulf refineries offline; other aging refineries taken offline for overdue maintenance overhauls; Medicare Prescription Drug boondoggle
2007 - [October 1st] beginning of fiscal year under implementation of new Democrat Congress' first budget and regulations; stock market responds by dropping into recession
2008 - Fed guarantees Fannie / Freddie defualted debt; bails or banks
2009 - "stimulus" spending raises unemployment from 8% to 10%; Hillary Clinton's incompetence alienates Eastern European allies - Russian invasion of Georgia tacitly endorsed with cutesy "reset button" prop; supply basing rights from Central Asian nations north of Afghanistan lost, limiting supply lines to troops in Afghanistan to a single route running undefended through Taliban controlled Waziristan; Iran's strategic depth settles into Yemen and Somalia / Ethiopia unchecked creating uncertainty in oil exportation through hostile waters
2010 - Obamacare passes, investor confidence non-existent, unemployement flirting with 11%, Obama donor BP's deepwater oil rig explodes; Obama bans all offshore drilling except for BP; debt monetization kills growth and jacks up fuel and fool prices
2011 - Democrat Congress failed to pass a budget before leaving office; goverment funded with continuing resolutions every two weeks under contention from loser Democrats who can't quit their lost fight; monetized debts flush the dollar's value down the toilet, raising public debt obligations to 90% of GDP and causing global uncertainty in the reserve currency, which sparks revolutions from Cote D'Ivoire to Bahrain and beyond...
I forgot to mention Obama's golf trips, but you get the point.
Gad, Beamish, I read Craig's comment and am glad I saw yours before starting in.
Plus, you did better than I could.
You know, the Fannie/Freddie thing is so typical leftist: Remember the video of Mudd looking like a deer in the headlights as he stands before the Congressional BLack Caucus (with Obama as a new member at the time) promising them EVERYBODY CAN HAVE A HOUSE!?
Those EVERYBODYs are the very people who are SCREWED now...who couldn't afford a house but signed up and now are on the street.
When leftists understand that nobody DESERVES anything, black, white, or purple, but hard work and saving and striving for the dream are what count...but living a good life and maybe not ever affording a house doesn't mean you FAILED or the country failed YOU, maybe AMerica will do better.
Movie Time 2: Blast From The Past
beamish; can't watch cramer now, tho I will.
I do want to say this is the first WH which constantly rips its detractors.....
did you have the stomach for listening to Obama tonight? Hear the part where he slams anybody who doesn't agree with him? No president's ever done that, either.
"There are factions here in Washington who think......but that's wrong.."
the most thin skinned goon on the planet.
That Cramer video was from March 9th, 2009, basically the market reaction to Obama pushing his agenda. The start of bad getting worse.
Since Craig wanted to know what changed and get caught up on reality.
"They can slam Beck all they want, they can insult, threaten, and mock him, but they simply can't contradict what he's saying."
Yep, this is the curse of being a leftist, at heart they know their ideology will only turn everything to crap and this is what they really want. The problem is covering this up and making their stupid liberal minions believe that their ideology will make things better.
"Bow to Kapital and talk about freedom, suckers."
As you can see, most liberals are too stupid to see the truth staring them in the face, so it's not too hard a sell for your hardcore leftard.
MK...and all of this leftist idiocy is wrapped in their warped ideas of KINDNESS and ENTITLEMENT.
Meanwhile, who're the people who got hit the hardest when the housing market tanked?...those the left "Helped", who are homeless now.
Their promises of a HOUSE for EVERYBODY NO MATTER WHAT is the biggest lie....
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