5 ms·

Tangentially: independent of the truth of this article, the volume of criticism of China's economy from Western media is hilarious in contrast to propaganda rep

by mrslave 10y ago

Tangentially: independent of the truth of this article, the volume of criticism of China's economy from Western media is hilarious in contrast to propaganda reported verbatim from the USA: the "slow recovery"; metrics that are hollow once the surface is scratched (e.g. jobs numbers comprising large below-full-time service sector, new housing starts with growing shared-residence numbers). Never mind bankrupt cities, territories, and soon states; inflation; and the national debt.

ra1n85 10y ago
Can you elaborate or provide sources? The language you use is incredibly dense, almost as if an online translation service was used.
- adrenalinelol 10y ago
  1. U.S. Natl. Debt: $18.8 Trillion [1] 2. ~ 20 states face some form a fiscal problem/crisis [2] 3. I assume he's talking about the alternative means of measuring unemployment? The worst case scenario that is accepted by mainstream economics is ~10% [3] None of what he said was wrong, but China is in serious trouble. The real-estate bubble is hiding a credit bubble. As the government attempts to scale back stimulus programs, the % of the economy which is dependent on such activity will start to feel the pinch. No one really knows how much pain the average Chinese citizen is going to feel, but the situation has no parallel in history, the amount of money the Chinese government has spent is astronomical. Some economists have stated they expect the debt to peak 283% of GDP... [4] 1. https://www.nationalpriorities.org/campaigns/us-federal-debt-what/?gclid=CjwKEAjw2PK7BRDPz5nDh9GjoGcSJAAybcS3NpF90rW7AdZ3WqxiM7x5ynKwI8HwDnQBIf8MMDvO8RoCYrDw_wcB https://www.nationalpriorities.org/campaigns/us-federal-debt... 2. http://mercatus.org/statefiscalrankings http://mercatus.org/statefiscalrankings 3. http://www.bls.gov/lau/stalt.htm http://www.bls.gov/lau/stalt.htm 4. http://www.bloomberg.com/news/articles/2016-02-21/china-s-debt-seen-rising-through-2019-peaking-at-283-of-gdp http://www.bloomberg.com/news/articles/2016-02-21/china-s-de...
- paulsutter 10y ago
  The labor force participation rate kept declining throughout the supposed recovery. http://static4.businessinsider.com/image/563caf319dd7ccfc418bcbfb-1200-900/october-2015-labor-force-participation-rate.png http://static4.businessinsider.com/image/563caf319dd7ccfc418... The "unemployment" rate doesn't include people who gave up looking for work among other adjustments, it doesn't tell you how many people are actually working. That's what the labor force participation rate measures. The rise of nontraditional candidates is less surprising in light of this.
  - wildengineer 10y ago
    In 2006, the federal bureau of labor statistics under George W. Bush concluded the labor participation rate would continue to fall for decades. Labor participation rate is not a strong indicator given our aging workforce. http://www.bls.gov/opub/mlr/2006/11/art3full.pdf http://www.bls.gov/opub/mlr/2006/11/art3full.pdf
    - ZoeZoeBee 10y ago
      Yes, the decline in the Labor Force Participation Rate due to Demographics has been known for quite some time. It is the inevitable consequence of an aging work force with birthrates below replacement level for a few decades. The problem is the Labor Force Participation Rate has fallen much quicker than any of the forecasts based upon Demographics. The reason for this is the lack of people working in their prime working years, the funny thing is the LFP would be even lower if Boomers were retiring at the rate they are supposed too, but the weaker economy had led many of them to delay retirement which in turn harms those who should be working. A Closer Look at the Decline in the Labor Force Participation Rate https://www.stlouisfed.org/publications/regional-economist/october-2013/a-closer-look-at-the-decline-in-the-labor-force-participation-rate https://www.stlouisfed.org/publications/regional-economist/o...
  - paulsutter 10y ago
    Someone willing to explain the downvotes?
hluska 10y ago
Please add some sources.
seanmcdirmid 10y ago
Isn't tangentially just another word for "what aboutism"? Have you ever tried reading the Chinese media before? It is a step above North Korea's media, but still incredibly twisted.
jonathankoren 10y ago
How is this relevant? Are you trying to cry hypocrisy or something? Well, a hypocrite may be hypocritical, but that doesn't make him wrong, just a hypocrite. This sounds like an attempt to change the subject.

by mrslave 10y ago

ra1n85 10y ago

Can you elaborate or provide sources? The language you use is incredibly dense, almost as if an online translation service was used.

adrenalinelol 10y ago
1. U.S. Natl. Debt: $18.8 Trillion [1] 2. ~ 20 states face some form a fiscal problem/crisis [2] 3. I assume he's talking about the alternative means of measuring unemployment? The worst case scenario that is accepted by mainstream economics is ~10% [3] None of what he said was wrong, but China is in serious trouble. The real-estate bubble is hiding a credit bubble. As the government attempts to scale back stimulus programs, the % of the economy which is dependent on such activity will start to feel the pinch. No one really knows how much pain the average Chinese citizen is going to feel, but the situation has no parallel in history, the amount of money the Chinese government has spent is astronomical. Some economists have stated they expect the debt to peak 283% of GDP... [4] 1. https://www.nationalpriorities.org/campaigns/us-federal-debt-what/?gclid=CjwKEAjw2PK7BRDPz5nDh9GjoGcSJAAybcS3NpF90rW7AdZ3WqxiM7x5ynKwI8HwDnQBIf8MMDvO8RoCYrDw_wcB https://www.nationalpriorities.org/campaigns/us-federal-debt... 2. http://mercatus.org/statefiscalrankings http://mercatus.org/statefiscalrankings 3. http://www.bls.gov/lau/stalt.htm http://www.bls.gov/lau/stalt.htm 4. http://www.bloomberg.com/news/articles/2016-02-21/china-s-debt-seen-rising-through-2019-peaking-at-283-of-gdp http://www.bloomberg.com/news/articles/2016-02-21/china-s-de...
paulsutter 10y ago
The labor force participation rate kept declining throughout the supposed recovery. http://static4.businessinsider.com/image/563caf319dd7ccfc418bcbfb-1200-900/october-2015-labor-force-participation-rate.png http://static4.businessinsider.com/image/563caf319dd7ccfc418... The "unemployment" rate doesn't include people who gave up looking for work among other adjustments, it doesn't tell you how many people are actually working. That's what the labor force participation rate measures. The rise of nontraditional candidates is less surprising in light of this.
- wildengineer 10y ago
  In 2006, the federal bureau of labor statistics under George W. Bush concluded the labor participation rate would continue to fall for decades. Labor participation rate is not a strong indicator given our aging workforce. http://www.bls.gov/opub/mlr/2006/11/art3full.pdf http://www.bls.gov/opub/mlr/2006/11/art3full.pdf
  - ZoeZoeBee 10y ago
    Yes, the decline in the Labor Force Participation Rate due to Demographics has been known for quite some time. It is the inevitable consequence of an aging work force with birthrates below replacement level for a few decades. The problem is the Labor Force Participation Rate has fallen much quicker than any of the forecasts based upon Demographics. The reason for this is the lack of people working in their prime working years, the funny thing is the LFP would be even lower if Boomers were retiring at the rate they are supposed too, but the weaker economy had led many of them to delay retirement which in turn harms those who should be working. A Closer Look at the Decline in the Labor Force Participation Rate https://www.stlouisfed.org/publications/regional-economist/october-2013/a-closer-look-at-the-decline-in-the-labor-force-participation-rate https://www.stlouisfed.org/publications/regional-economist/o...
- paulsutter 10y ago
  Someone willing to explain the downvotes?

hluska 10y ago

Please add some sources.

seanmcdirmid 10y ago

Isn't tangentially just another word for "what aboutism"? Have you ever tried reading the Chinese media before? It is a step above North Korea's media, but still incredibly twisted.

jonathankoren 10y ago

How is this relevant? Are you trying to cry hypocrisy or something? Well, a hypocrite may be hypocritical, but that doesn't make him wrong, just a hypocrite. This sounds like an attempt to change the subject.