Chinese article re US-led global recession

[movie zombie]

i found the following article interesting. pulls together some of what has been mentioned/discussed in other threads but brings it together from the view point of 'the other country'.

peace, movie zombie
===================================

It's time to take seriously a US-led global recession

By Lau Nai-keung
2005-10-06 07:37
China Daily
http://www.chinadaily.com.cn/english/doc/2005-10/06/content_482807.htm

I think it is time that we should take a serious look at the possibility that the US is going to take us down towards a worldwide recession in one or two year's time.

It is well known that the US is the world's biggest economy, taking up about 30 per cent of global GDP, but it is now also the world's biggest debtor country. According to the most authoritative person on this subject, the US Comptroller General David Walker, who audits the federal government's books, the tab for the long-term promises the US Government has made to creditors, retirees, veterans and the poor amounts to US$43,000 billion, US$145,000 per US citizen, or US$350,000 for every full-time worker.

(HK Edition 10/06/2005 page2)

 

[Dancing Fire]

MZ

i will nominate you to be our next chairperson of the Federal Reserve Board.

 

[movie zombie]

well, i do find it interesting......this is more than the Federal Reserve, though: its geo-economic politics.

there was a preface to the article in which it was stated that GM is about to file bankruptcy which will throw pensions and retirees benefits onto the backs of the taxpayers [again]. the resultant loss of buying power for those people will send this country into a further economic slump. and lo, i read today in the news that GM is in fact contemplating Chapter 11. yes, its reorganization but reorganization at the expense of the retirees and we the taxpayers.

but what i find most interesting is how the rest of the world looks at our economic ''health''.

peace, movie zombie

 

[strmrdr]

Thats what happens when you have a paper economy and not a goods economy.
Eventualy the paper crashes and your outa luck.
You can always trade goods if the money is worthless.
When all you have is worthless paper money your outa luck.
There are going to be a lot of people that are going to have to actualy sweat for the stuff to survive on.

 

[movie zombie]

glad to hear from you on this, strm!

Date: 10/12/2005 1:29:51 AM
Author: strmrdr
Thats what happens when you have a paper economy and not a goods economy.
Eventualy the paper crashes and your outa luck.
You can always trade goods if the money is worthless.
When all you have is worthless paper money your outa luck.
There are going to be a lot of people that are going to have to actualy sweat for the stuff to survive on.

yes, i agree...and it won''t just be those that are now considered to be poor...if the middle class thinks its got problems now, it hasn''t seen anything yet. remember: most people are already one or two pay checks away from disaster.....

peace, movie zombie

 

[strmrdr]

Thats why I keep my soldering and welding skills up to date.
I can also hand forge.
If it does tank those skills will be badly needed.
oh and lots of ammo too.

The bad thing is that when it does tank there arent very many people that have the skills to survive anymore.
Look at what happened in N.O.

 

[movie zombie]

even homemaking skills like food preservation, growing vegetables, raising stock....in other words, foods to eat and have stored to eat during the winter months. these are all things i grew up with. along with hunting and fishing......

btw, have you read THE POSTMAN by David Brin....or EARTH ABIDES by George R. Steward published in 1949 [shades of avian flu!] and set in california.

both deal with survival after a catestrophic event.......

peace, movie zombie

 

[strmrdr]

Iv heard of them but havent read them.
Growing up I spent almost the whole summer out in the woods camping each year.
often by myself when i got older, 12 or so...

 

[movie zombie]

Date: 10/12/2005 6:46:10 PM
Author: strmrdr

Growing up I spent almost the whole summer out in the woods camping each year.
often by myself when i got older, 12 or so...

which means, i''m sure, that you have very finely honed survival skills. not a bad thing to have!

a third book: Lucifer''s Hammer by Jerry Pournelle and Larry Niven, is about a cataclysmic comet hitting the Earth, and various groups of people struggling to survive the aftermath in southern California.

peace, movie zombie

 

[partgypsy]

It makes me think about Martha Stewart. Regardless what you think of her she is one smart cookie. She has sold her old farm and bought a larger piece of land, with the intention of creating an entirely self-sufficient farm. The buildings look like concrete bunkers. Maybe she knows something we don''t?

 

[movie zombie]

Date: 10/13/2005 12:30:14 PM
Author: part gypsy
It makes me think about Martha Stewart. Regardless what you think of her she is one smart cookie. She has sold her old farm and bought a larger piece of land, with the intention of creating an entirely self-sufficient farm. The buildings look like concrete bunkers. Maybe she knows something we don''t?

the information is out there and has been for some years. martha just has the $$$ to be able to implement a strategy and a plan. lots of material has been printed regarding how to prepare for the coming economic hard times.

peace, movie zombie

 

[AGBF]

This seems to take "worlwide recession" (even if it were to be as bad as the Great Depression) into an entirely different realm. The scenarios you are describing remind me more of the movie, "The Terminator" than they do of any period in history.

The Great Plague certainly killed much of Europe, but I don''t think being able to shear sheep and spin wool would have done anyone much good. People already knew how to do that and they died anyway.

Deb

 

[movie zombie]

Date: 10/14/2005 10:10:08 AM
Author: AGBF

The Great Plague certainly killed much of Europe, but I don''t think being able to shear sheep and spin wool would have done anyone much good. People already knew how to do that and they died anyway.

Deb

my take on the article is strictly economic. however, should there be a depression and a quarantine at the same time due to avian flu, survivors will be dependent upon local food sources. shipping chickens from the south to the northwest might not happen. ditto pork, corn, oranges, etc. the ability to grow one''s own food and preserve it just might be a skill worth having.

yes, disease such as the Great Plague, the misnamed 1918 Spanish flu [another asian flu, actually], and the anticipated new avian flu now spreading into europe from asia did and could once again reduce the world population. and having what we now call ''survival'' skills [back then such skills were a way of life for most] isn''t going stop a ''plague'' from killing one, but should that person not get the disease and/or recover from the disease, it might be they would wish the had some of those ''survival'' skills.

peace, movie zombie

ps most of our clothing isn''t made in this country any more....do we even make cloth?