I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Joined: Apr 06, 2006 Posts: 3623 Location: 3 miles NW of Champoeg, Republic of Cascadia
Posted: Fri May 18, 2007 9:58 pm Post subject: Re: What if China nationalizes all western assets?
Tyler_JC wrote:
Last year, America's economy grew more than China's economy in real terms (not % terms).
In what way are we expanding? More malls, retail sales, housing? How long until China closes the gap?
Just in the dark, and curious. I'm always wondering why China has really amped up their nuke arsenal, too. _________________ Cogito, ergo non satis bibivi
C'mon man, who're you gonna believe?
Joined: Sep 25, 2004 Posts: 4686 Location: Boston, MA
Posted: Fri May 18, 2007 11:24 pm Post subject: Re: What if China nationalizes all western assets?
TheDude wrote:
Tyler_JC wrote:
Last year, America's economy grew more than China's economy in real terms (not % terms).
In what way are we expanding? More malls, retail sales, housing? How long until China closes the gap?
Just in the dark, and curious. I'm always wondering why China has really amped up their nuke arsenal, too.
They will NEVER reach the same standard of living that the average American enjoys right now.
We might meet them somewhere down near Mexico's level.
But China has lots of problems in their economic structure that are being essentially ignored on this site. Much of their current growth is just as absurd as some of America's growth.
Not to mention the fact that profit margins in China are crashing among some of the largest industrial sectors. The domestic market is just not ready to handle all of the overproduction so China is stuck. They aren't able to grow their exports much beyond the current levels and they aren't able to increase their domestic consumption without growing the internal economy more. And the only way to grow the internal economy is to industrialize and produce more export goods...
It's just not going to work. _________________ "www.peakoil.com is the Myspace of the Apocalypse."
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