tag:blogger.com,1999:blog-1258979445050968882.post3777262272558078970..comments2023-11-26T06:55:42.401-05:00Comments on [ The Financial Ninja ]: Uh Oh: Even The Chinese Are Contemplating a Stimulus PackageBen Bittrolffhttp://www.blogger.com/profile/12465978905157927856noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1258979445050968882.post-89347197257510589662008-08-26T14:13:00.000-04:002008-08-26T14:13:00.000-04:00Actually by their own account the PRC needs ~10% a...Actually by their own account the PRC needs ~10% annual growth just to absorb additions to the labor force. Right around that at the last quarterly report, but slipping lower over consecutive quarters.Unknownhttps://www.blogger.com/profile/01223048799754759550noreply@blogger.comtag:blogger.com,1999:blog-1258979445050968882.post-62368742586132465712008-08-26T03:53:00.000-04:002008-08-26T03:53:00.000-04:00There's a theory out there (can't remember who cam...There's a theory out there (can't remember who came up with it) - the problem with the world is not too much debt but rather too much savings.<BR/><BR/>Because of the Chinese one-child policy, China's Seniors have saved like crazy. (The thinking goes since you won't have enough children to take care of you - you need to save). All these savings need to find a home, hence the financial engineering to create new products to capture these savings.<BR/><BR/>Which of course means that with ample supply of debt - consumers, corporations and investors go on a buying binge.<BR/><BR/>Guess what happens when the binge ends? I doubt the saver is going to be immune from the after-effects.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1258979445050968882.post-51787242767968168202008-08-25T19:15:00.000-04:002008-08-25T19:15:00.000-04:00They have already had a little one where the govt ...They have already had a little one where the govt gave rebates for large appliance purchases. <BR/><BR/>8% growth is no fun for average person if inflation is over that.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1258979445050968882.post-23829872910539686012008-08-25T17:10:00.000-04:002008-08-25T17:10:00.000-04:00You know Ben, I've come to a basic conclusion: Our...You know Ben, I've come to a basic conclusion: Our entire planet is BANKRUPT. There's simply TOO MUCH debt and not even money. Too many people buying shit they can't afford, but believe they are entitled to.. Our day of reckoning will be a very painful one indeed...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1258979445050968882.post-426074147389378552008-08-25T17:02:00.000-04:002008-08-25T17:02:00.000-04:00Mike J,I can't even make this stuff up. I wouldn't...Mike J,<BR/><BR/>I can't even make this stuff up. I wouldn't have the imagination...<BR/><BR/>BNN (Business New Network)... formerly ROBTV (Report On Business). I was actually featured on ROBTV back in August of 2000 as the tech bubble imploded. A full 25 minute interview, back when I was a punk kid daytrading dot bombs...Ben Bittrolffhttps://www.blogger.com/profile/12465978905157927856noreply@blogger.comtag:blogger.com,1999:blog-1258979445050968882.post-12371545501836302412008-08-25T16:54:00.000-04:002008-08-25T16:54:00.000-04:00Really?Chinese GDP has grown at >8.0% for the l...Really?<BR/><BR/>Chinese GDP has grown at >8.0% for the last 7 years and they need an economic stimulus package? And then the Shanghai index <I>rallies</I>? Sounds like they have the same cheerleading going on over there (maybe even worse!) that we have here.<BR/><BR/>Ben, what are the Canadian versions of CNBC and BloombergTV like? Do you watch them at all?<BR/><BR/>-Mike JAnonymousnoreply@blogger.com