Category Archives: China

China To The U.S.: 'We Hate You Guys'

America, China, Federal Reserve Bank, Inflation

Luo Ping, a director-general at the China Banking Regulatory Commission, was speaking at the Global Association of Risk Management’s 10th Annual Risk Management Conventions. Said Mr. Luo: “We hate you guys,” by which he meant Americans, toward whom Chinese are increasingly hostile for trashing the dollar.

“Once you start issuing $1 trillion-$2 trillion, we know the dollar is going to depreciate, so we hate you guys, but there is nothing much we can do. Except for US Treasuries, what can you hold?” lamented Luo. “Gold? You don’t hold Japanese government bonds or UK bonds. US Treasuries are the safe haven. For everyone, including China, it is the only option.”

I suspect dethroning the dollar from its status as world reserve currency would be a wise move. You gotta stop enabling the addict (USA).

Source: Hannity.com

China To The U.S.: ‘We Hate You Guys’

America, China, Economy, Federal Reserve Bank, Inflation

Luo Ping, a director-general at the China Banking Regulatory Commission, was speaking at the Global Association of Risk Management’s 10th Annual Risk Management Conventions. Said Mr. Luo: “We hate you guys,” by which he meant Americans, toward whom Chinese are increasingly hostile for trashing the dollar.

“Once you start issuing $1 trillion-$2 trillion, we know the dollar is going to depreciate, so we hate you guys, but there is nothing much we can do. Except for US Treasuries, what can you hold?” lamented Luo. “Gold? You don’t hold Japanese government bonds or UK bonds. US Treasuries are the safe haven. For everyone, including China, it is the only option.”

I suspect dethroning the dollar from its status as world reserve currency would be a wise move. You gotta stop enabling the addict (USA).

Source: Hannity.com

Hong Kong Named World's Freest Economy

America, China, Free Markets, Political Economy

Give me economic freedom over overrated, so-called political liberty anytime.

There’s nothing new about the annual report released by the Heritage Foundation and the Wall Street Journal crowning Hong Kong as the world’s freest economy. Hong Kong has been so honored for 15 consecutive years.

This via Yahoo News:

“The Chinese territory, known for its low taxes and looser regulations, was followed by Singapore, Australia, Ireland and New Zealand, according to this year’s Index of Economic Freedom.

European countries again accounted for half of the top 20 economies considered free or mostly free, with Switzerland at No. 9 and the U.K. at No. 10.

However, the U.S. slid one notch to sixth place, dinged for increased government spending and tax revenue as a percentage of gross domestic product, one of the survey’s authors said.

Ranking at the bottom was North Korea, followed by next-to-last Zimbabwe, Cuba, Myanmar and Eritrea. The southern African country, whose economy is in meltdown after years of state-endorsed violence and business controls, posted the biggest drop in this year’s report.”

[SNIP]

Again: Forced to choose between “political liberty” and economic freedom, I’d choose the latter, always.

As I once wrote, “freedom will have arrived when elections don’t matter. I’ll consider myself free when … I can sleep through a federal election, because, … Democrat or Republican – in a free society neither will be able to unjustly tamper with me or take what is rightfully mine.”

Hong Kong Named World’s Freest Economy

America, China, Economy, Free Markets, Political Economy

Give me economic freedom over overrated, so-called political liberty anytime.

There’s nothing new about the annual report released by the Heritage Foundation and the Wall Street Journal crowning Hong Kong as the world’s freest economy. Hong Kong has been so honored for 15 consecutive years.

This via Yahoo News:

“The Chinese territory, known for its low taxes and looser regulations, was followed by Singapore, Australia, Ireland and New Zealand, according to this year’s Index of Economic Freedom.

European countries again accounted for half of the top 20 economies considered free or mostly free, with Switzerland at No. 9 and the U.K. at No. 10.

However, the U.S. slid one notch to sixth place, dinged for increased government spending and tax revenue as a percentage of gross domestic product, one of the survey’s authors said.

Ranking at the bottom was North Korea, followed by next-to-last Zimbabwe, Cuba, Myanmar and Eritrea. The southern African country, whose economy is in meltdown after years of state-endorsed violence and business controls, posted the biggest drop in this year’s report.”

[SNIP]

Again: Forced to choose between “political liberty” and economic freedom, I’d choose the latter, always.

As I once wrote, “freedom will have arrived when elections don’t matter. I’ll consider myself free when … I can sleep through a federal election, because, … Democrat or Republican – in a free society neither will be able to unjustly tamper with me or take what is rightfully mine.”