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Economy Watch Thread

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11 hours ago, centex said:

People Eating Tasty Acts?

Were PETA ever to come to China they would be strung up.  Fast. 

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20 hours ago, PotO said:

 

Yup, still in the same old shethole.  I was due to GTFO late last year, but the COVID-19 circus screwed that up.  Now that things are pretty much normal (in China), I was hoping that I could get sent somewhere better, such as hell, perhaps.  But that seems like it won't be happening.  Because of the current geopolitical challenges between the two countries, they've informed me that it's best to keep current staff in place.  

 

I guess the good news is that I only have about 1 and 1/2 years left until mandatory retirement.  Also nice is that US tax laws have it so I pay $0 in income taxes.  Sometimes, though, I think I'd rather pay taxes than continue eating all the Chinese crap they serve here.

 

Come on over for a visit and bring the family.  I'll show you all around and take you out to enjoy the local cuisine.  Would you prefer baked Siamese cat or grilled beagle? 

Well thanks for all the first hand insight into Covid and China. It keeps us from going bat-💩-crazy. 

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1 hour ago, hegemony said:

My next trip to the PRC will be to take a long ride on the Qingzang train!


I've only been on one purely domestic train here over the years.  It was relatively short and, surprisingly, not bad at all.  It was before the high speed trains.  Then there were several between Hong Kong and Guangzhou.  Actually very good.
 

The wife and kids often take the high speed train to Shanghai and Guangzhou and they say it's actually excellent.  I might try it next time.  Flying here is getting to be a major pain in the butt.

 

P.S.  As beautiful as Tibet is and as awesome as the train ride would be, I seriously doubt I'd go to Tibet.  You do know there's no McD's there, right?  And no cows or chickens.  Your primary source of dietary protein for your entire journey will be either llama-chops, Tibetan camel steak, mountain goat soup or crispy-fried grasshopper-snake.  

Edited by PotO

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5 hours ago, PotO said:

I've only been on one purely domestic train here over the years.  It was relatively short and, surprisingly, not bad at all.  It was before the high speed trains.  Then there were several between Hong Kong and Guangzhou.  Actually very good.

 

The China commentary in this thread gave me cause to do a quick refresher.  My China "experience" is limited to a tourist day tour out of Hong Kong in 1984, which involved a brief run through of Shenzhen and Guangzhou.  (I did a 4-night stopover in Hong Kong when returning from a 2 week vacation in Australia.)

 

It was a memorable day.  We enjoyed a fabulous lunch somewhere between the two stops.  As we pulled away from the restaurant, I spied an adjoining retaining pond teaming with raw sewage.  (I feared an episode of "General Tso's Revenge"; needlessly as it turned out.)  Later that day, a market vendor proudly held out a roast dog (were it a suckling pig, I might have suggested that it looked enticing ...).  I suspect he was merely offering a photo op, rather than inviting me to purchase my dinner.  But the unexpected entreaty unnerved me and I merely waved my disinterest.  (I also connected up with a lovely young Taiwanese woman during the tour, who was in transit to Toronto where she was starting a work assignment.  She was delightful company over the next two days before I departed for home.)

 

So, I'm quite familiar with the fact that since my stopover tour there's been a considerable transition of population from rural areas into the cities.  But when I looked for pop stats on these two cities, I was unable to fathom the numbers:

 

Shenzhen (immediately outside Hong Kong) had a reported population of 143,000 in 1984.  Guangzhou, about 80 mi to the north, had a pop of 2.2 million.

The respective populations are now reported as 12 million and 13 million, respectively.

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3 hours ago, hdporter said:

 

The China commentary in this thread gave me cause to do a quick refresher.  My China "experience" is limited to a tourist day tour out of Hong Kong in 1984, which involved a brief run through of Shenzhen and Guangzhou.  (I did a 4-night stopover in Hong Kong when returning from a 2 week vacation in Australia.)

 

It was a memorable day.  We enjoyed a fabulous lunch somewhere between the two stops.  As we pulled away from the restaurant, I spied an adjoining retaining pond teaming with raw sewage.  (I feared an episode of "General Tso's Revenge"; needlessly as it turned out.)  Later that day, a market vendor proudly held out a roast dog (were it a suckling pig, I might have suggested that it looked enticing ...).  I suspect he was merely offering a photo op, rather than inviting me to purchase my dinner.  But the unexpected entreaty unnerved me and I merely waved my disinterest.  (I also connected up with a lovely young Taiwanese woman during the tour, who was in transit to Toronto where she was starting a work assignment.  She was delightful company over the next two days before I departed for home.)

 

So, I'm quite familiar with the fact that since my stopover tour there's been a considerable transition of population from rural areas into the cities.  But when I looked for pop stats on these two cities, I was unable to fathom the numbers:

 

Shenzhen (immediately outside Hong Kong) had a reported population of 143,000 in 1984.  Guangzhou, about 80 mi to the north, had a pop of 2.2 million.

The respective populations are now reported as 12 million and 13 million, respectively.

 

Aye, brings back memories.  :)

 

Hong Kong is much slimmer than what it used to be.  That huge population increase you see now in Shenzhen is the result of two phenomenas.  First, Shenzhen was once a restricted city where those Chinese from other parts of the Mainland were restricted.  That restriction has been more or less lifted.  Second, and equally as important, a very large percentage of the Shenzhen population is actually from Hong Kong.  The billionaires store their mistresses in Shenzhen, quite unlike the trillionaires who can actually afford to keep their mistresses in the outlying parts of Hong Kong. Your other uper-middle to middle class Hong Konger has migrated to Shenzhen to live and commutes to Hong Kong to work.  This is because a 30 m2 home in Hong Kong costs approximately US$1,000,000 or more whereas in Shenzhen $1m will get you 70 - 80 m2.  All the resulting vacant 30 m2 apartments in Hong Kong are now used to house Filipina maids and the Indian & Bangladeshi unskilled labor with at least 15 people living in a 30 m2 apartment.   

 

Guangzhou is a nice city.  When they say 13 million inhabitants, I believe that is the official count of those with a Guangzhou ID card.  It probably gets up to 18 million when you count the migrant labor.  People flock to the first-tier cities like Shanghai, Guangzhou and Beijing from other cities for the increased economic opportunities.  You can probably add another 1 to 2 million for the influx of fourth-world illegal immigrants, mostly from Africa.  And that's another story.

 

 

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On 10/13/2020 at 10:56 PM, PotO said:

 

Yup, still in the same old shethole.  I was due to GTFO late last year, but the COVID-19 circus screwed that up.  Now that things are pretty much normal (in China), I was hoping that I could get sent somewhere better, such as hell, perhaps.  But that seems like it won't be happening.  Because of the current geopolitical challenges between the two countries, they've informed me that it's best to keep current staff in place.  

 

I guess the good news is that I only have about 1 and 1/2 years left until mandatory retirement.  Also nice is that US tax laws have it so I pay $0 in income taxes.  Sometimes, though, I think I'd rather pay taxes than continue eating all the Chinese crap they serve here.

 

Come on over for a visit and bring the family.  I'll show you all around and take you out to enjoy the local cuisine.  Would you prefer baked Siamese cat or grilled beagle? 

You may have" already read this oldie that was shared via email long before MySpace or Facebook but here goes: http://thatwasfunny.com/the-eight-worst-convenience-foods/1215

 

"The eight worst convenience foods

And I thought nothing could top Hormel’s pickled eggs …

 

8. Meeter’s Kraut Juice (Stokely USA): Yes, that’s sauerkraut juice, which is even worse than it sounds. The taste and smell can be a bit, well, harsh, but KJ is reputed by its fans to have medicinal benefits (as a source of vitamin C, cure for intestinal bugs, etc.), which adds up to a classic case of the cure being worse than the disease.

 

7. Guycan Corned Mutton with Juices Added (Bedessee Imports): The best thing about this Uruguayan canned good is the very pouty-looking sheep on the package label — he seems to be saying, “Go on, eat me already.” The second-best thing is the presence of both “cooked mutton” and “mutton” in the ingredients listing, which would seem to have all the mutton bases covered.

 

6. Armour Pork Brains in Milk Gravy (Dial Corp.): If you’re really looking to clog up those arteries in a hurry, you’ll be pleased to learn that a single serving of pork brains has 1,170 percent of our recommended daily cholesterol intake. All the more ingenious, then, that the label on this product helpfully features a recipe for brains and scrambled eggs.

 

5. Sweet Sue Canned Whole Chicken (Sweet Sue Kitchens, Inc.): From its size (think growth-impaired Cornish hen) to its overall appearance (it’s stewed in a quivering mass of aspic goop), this product may change forever your idea of what constitutes a chicken. Gives new meaning to the old line about meat “falling off the bone.”

 

4. Musk Life Savers (Nestle Confectionery): You may think musk is a scent, but over in Australia, they think it’s a candy flavor. A candy flavor that tastes disturbingly like raw meat, to be precise. But what did you expect from a country where everyone happily consumes Vegemite?

 

3. Blind Robins Smoked Ocean Herring (recently discontinued by Bar Food Products): Possibly the world’s most bizarre prepackaged tavern snack. Interestingly, the product’s titular robin isn’t actually blind, he’s blindfolded — the better, presumably, to avoid looking at these heavily salted herring strips, which look like giant slugs.

 

2. Kylmaenen Reindeer Pate` (Kylmaenen Oy): This Finnish canned good may not be particulary tasty, but at least it answers the age-old question of why Rudolph was so eager for that safe, steady job on Santa’s sleigh team — he didn’t want to end up as a cracker spread.

 

1. Tengu Clam Jerky (Tengu Co.): Nothing you’ve ever consumed can prepare you for the horror that is clam jerky. Still, this product does score a sort of conceptual coup: If you’re the sort who’s always found raw clams too slimy and gelatinous for your taste, these dried, shriveled mollusks will help you dislike clams on a whole new level." ~ Author not listed

 

http://thatwasfhttp://thatwasfunny.com/the-eight-worst-convenience-foods/1215unny.com/the-eight-worst-convenience-foods/1215

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4 hours ago, StarkRaven$ said:

You may have" already read this oldie that was shared via email long before MySpace or Facebook but here goes: http://thatwasfunny.com/the-eight-worst-convenience-foods/1215

 

"The eight worst convenience foods

And I thought nothing could top Hormel’s pickled eggs …

 

8. Meeter’s Kraut Juice (Stokely USA): Yes, that’s sauerkraut juice, which is even worse than it sounds. The taste and smell can be a bit, well, harsh, but KJ is reputed by its fans to have medicinal benefits (as a source of vitamin C, cure for intestinal bugs, etc.), which adds up to a classic case of the cure being worse than the disease.

 

7. Guycan Corned Mutton with Juices Added (Bedessee Imports): The best thing about this Uruguayan canned good is the very pouty-looking sheep on the package label — he seems to be saying, “Go on, eat me already.” The second-best thing is the presence of both “cooked mutton” and “mutton” in the ingredients listing, which would seem to have all the mutton bases covered.

 

6. Armour Pork Brains in Milk Gravy (Dial Corp.): If you’re really looking to clog up those arteries in a hurry, you’ll be pleased to learn that a single serving of pork brains has 1,170 percent of our recommended daily cholesterol intake. All the more ingenious, then, that the label on this product helpfully features a recipe for brains and scrambled eggs.

 

5. Sweet Sue Canned Whole Chicken (Sweet Sue Kitchens, Inc.): From its size (think growth-impaired Cornish hen) to its overall appearance (it’s stewed in a quivering mass of aspic goop), this product may change forever your idea of what constitutes a chicken. Gives new meaning to the old line about meat “falling off the bone.”

 

4. Musk Life Savers (Nestle Confectionery): You may think musk is a scent, but over in Australia, they think it’s a candy flavor. A candy flavor that tastes disturbingly like raw meat, to be precise. But what did you expect from a country where everyone happily consumes Vegemite?

 

3. Blind Robins Smoked Ocean Herring (recently discontinued by Bar Food Products): Possibly the world’s most bizarre prepackaged tavern snack. Interestingly, the product’s titular robin isn’t actually blind, he’s blindfolded — the better, presumably, to avoid looking at these heavily salted herring strips, which look like giant slugs.

 

2. Kylmaenen Reindeer Pate` (Kylmaenen Oy): This Finnish canned good may not be particulary tasty, but at least it answers the age-old question of why Rudolph was so eager for that safe, steady job on Santa’s sleigh team — he didn’t want to end up as a cracker spread.

 

1. Tengu Clam Jerky (Tengu Co.): Nothing you’ve ever consumed can prepare you for the horror that is clam jerky. Still, this product does score a sort of conceptual coup: If you’re the sort who’s always found raw clams too slimy and gelatinous for your taste, these dried, shriveled mollusks will help you dislike clams on a whole new level." ~ Author not listed

 

http://thatwasfhttp://thatwasfunny.com/the-eight-worst-convenience-foods/1215unny.com/the-eight-worst-convenience-foods/1215


Thanks.  You've fooked up my appetite for the next few days.  
 

😂

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2 hours ago, PotO said:


Bend over and grab your ankles, brother.  You will feel the joy when tax time comes.  

Haven't you heard? Modern Economic Theory is the rage. Neoclassical is so yesterday. We just print whatever we need and that's really easy because even printing is now just diddling the bits between the Fed and Treasury.

 

 

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1 hour ago, cashnocredit said:

Haven't you heard? Modern Economic Theory is the rage. Neoclassical is so yesterday. We just print whatever we need and that's really easy because even printing is now just diddling the bits between the Fed and Treasury.

 

 


Doesn't that cause inflation?

 

When they start running the printing presses that means your $7.99 Happy Meal will cost you $12.99.   Plus tax!

Edited by PotO

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4 hours ago, PotO said:


Doesn't that cause inflation?

 

One of the consequences of MMT is that they have to keep inflation low because if it were to go up even a bit, the interest payments on the national debt would require either large tax increases or printing even more money. Thus we have long term interest rates at historical lows simultaneous with historically, aside from wartime, high debt/GDP. It becomes more unstable as the debt/GDP ratio increases and no one really knows what the limit is. So at what point something makes the magic fail will only be known in retrospect. Which, I guess, is why it's called "Modern." 

 

The next theory will probably be called Post Modern Economic Theory.

Edited by cashnocredit

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On 10/17/2020 at 11:45 AM, cashnocredit said:

One of the consequences of MMT is that they have to keep inflation low because if it were to go up even a bit, the interest payments on the national debt would require either large tax increases or printing even more money. Thus we have long term interest rates at historical lows simultaneous with historically, aside from wartime, high debt/GDP. It becomes more unstable as the debt/GDP ratio increases and no one really knows what the limit is. So at what point something makes the magic fail will only be known in retrospect. Which, I guess, is why it's called "Modern." 

 

The next theory will probably be called Post Modern Economic Theory.

 

Obviously I am in over my head, but I appreciate your patience in trying to educate me.  

 

So, if they print more money, that will not eventually cause prices to increase, right?  I always thought that more money in circulation meant that everybody would raise prices.  

 

Can you please explain inflation and deflation to me in easy to understand terms?  How does that tie into money supply?

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The next economic crisis: Empty retail space  As tenants stop paying and shrink their offices, commercial real estate is cratering.

 

 

there's a large, but apparently not large enough, retail space in Hendertucky that used to house a Food-4-less but has been empty since that garbage chain shuttered the location about 10 years ago. So the idea that subprime merchants are just now succumbing to a covid-induced rent stoppage is a bit rich.

Edited by hegemony

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The luckiest ones are near government hubs...one of the OLD wally-worlds north of Houston (back before they were into building superstores) wound up leasing to the State of Texas.  A grocery store in the next lot over turned into something like a Hobby Lobby when that grocery store went to build bigger (again, following superstore construction trends). 

 

Leaving out of downtown on the Hardy Toll Road, there is also an older center that is now mostly occupied by a State agency (HHS if I remember right).  They tend to be vacant and in crappy parts of town...so for a government agency, rent is far cheaper than building new. 

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On 10/14/2020 at 6:52 AM, PotO said:

...and because of one lucky fluke -- if even what you claim is true -- all of a sudden you have the theory that Chinese labs are not bad.

Nope.

 

Guess you missed the FACT that the NIH sequenced that sophisticated genome mapping of the Covid-19 virus delivered to them by the high-level Chinese lab, which thereby enabled them to produce the sequence required for a vaccine, which Moderna, Pfizer, Johnson & Johnson, and many other companies are utilizing as the ENTIRE BASIS of their vaccines which are in the final stages of development.

 

Some "lucky fluke".

 

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Fed's Bostic: More Permanent Layoffs Risk to Recovery

 

"Widespread permanent job loss could become a material risk to the recovery," Bostic said Monday in prepared remarks to the Securities Industry and Financial Markets Association. "The data on this are clear: permanently laid off workers find it far more difficult to rejoin the labor force. This would make recovery more difficult to sustain."

 

Bostic as well as other Fed officials have called for more fiscal support for the recovery from the pandemic-induced recession. While the U.S. continues to add jobs, the number of permanent job losers rose by 345,000 last month to a seven-year high of 3.8 million.

 

At the rate of recovery in September, the U.S. wouldn't return to pre-Covid employment levels until December 2021, Bostic said.

 

BLOOMBERG

 

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10 hours ago, RVR said:

Nope.

 

Guess you missed the FACT that the NIH sequenced that sophisticated genome mapping of the Covid-19 virus delivered to them by the high-level Chinese lab, which thereby enabled them to produce the sequence required for a vaccine, which Moderna, Pfizer, Johnson & Johnson, and many other companies are utilizing as the ENTIRE BASIS of their vaccines which are in the final stages of development.

 

Some "lucky fluke".

 

 

Jethro, does it hurt when you think?  You really should spend more time with your literacy volunteer.  

 

Quote

Even a broken clock is right twice a day.

 

I suppose it's your 24 years in third grade which has you thinking that your laughable high-level Chinese lab has provided the sequencing used in the development of the various vaccine projects being carried out.  

 

Very shortly after the Chinese lab came out with the sequencing, one of the foremost labs in France which, by the way, is not third world, independently published their own independent sequencing.  They accomplished that task in, IIRC, under a week.  Neat, eh?

 

And it was precisely that sequencing by the French lab that was used by BioNTech (NASDAQ: BNTX) who actually developed the COVID-19 vaccine that is currently licensed to Pfizer and under the FDA approval regime in North America.  BioNTech also licensed the trial vaccine to another company for the European market and yet another for the Chinese market.  

 

The Chinese are trying to develop their own vaccine instead of the one they obtained the rights to from BioNTech. The Chinese vaccine candidate is, as those with 1/2 a brain expected, so far a dismal failure.  Since they have nobody left in China to actually test it on, they were testing it overseas in places such as Peru.  Funny, though, testing failed in Peru.  First, they discovered the vaccine was ineffective and then there were serious side effects.  Then there's the pesky little fact that the COVID-19 exposure rate was so high in Peru, there weren't really enough suckers to test the vaccine on.  Even if -- and it's a big if -- they were able to develop a vaccine, the Chinese Ministry of Health has admitted that they will only be able to produce 600,000,000 doses in the first year of production.  

 

Now, it appears I am tasked with helping you understand third-grade math.  The population of China is 1.4+ billion (To dumb it down for you: 1,400,000,000 people, or more).  Then there is at least another 1/2 billion in various third-world scum-holes that China has promised the vaccine to in exchange for allowing China to use their population as guinea pigs.  But that's immaterial, because their vaccine is a flop.  

 

The best course of action for you, after you get that lobotomy, is to save your food stamps and try to exchange them for a cheap ticket to China where you can actually see what the reality is instead of relying on an overactive imagination and the data you gain from reading your comic books.  

 

Meanwhile, I suppose Granny will be taking a switch to you again soon.    

 

Edited by PotO

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6 hours ago, PotO said:

I suppose it's your 24 years in third grade which has you thinking that your laughable high-level Chinese lab has provided the sequencing used in the development of the various vaccine projects being carried out.

Nope. They did the sophisticated genome mapping. Mere sequencing is subsequently done depending upon what angle one wishes a vaccine to confront the virus.
 

Quote

Very shortly after the Chinese lab came out with the sequencing, one of the foremost labs in France which, by the way, is not third world, independently published their own independent sequencing.

Eh, EVERYBODY has done their own sequencing, but all subsequent sequencing is based upon the original sophisticated genome mapping delivered by the Chinese.

 

Quote

They accomplished that task in, IIRC, under a week. Neat, eh?

Actually not, as it usually only takes hours, or less than a day.

 

Quote

The Chinese are trying to develop their own vaccine 

The Chinese have had a vaccine for their military a long time ago, and have already started offering it to the citizenry. The lines have been pretty long.

 

BTW, Dr. Fauci, the long-time chief of the Laboratory of Immunoregulation at the NIH, disagrees with you.

 

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1 hour ago, RVR said:

Nope. They did the sophisticated genome mapping. Mere sequencing is subsequently done depending upon what angle one wishes a vaccine to confront the virus.
 

Eh, EVERYBODY has done their own sequencing, but all subsequent sequencing is based upon the original sophisticated genome mapping delivered by the Chinese.

 

Actually not, as it usually only takes hours, or less than a day.

 

The Chinese have had a vaccine for their military a long time ago, and have already started offering it to the citizenry. The lines have been pretty long.

 

BTW, Dr. Fauci, the long-time chief of the Laboratory of Immunoregulation at the NIH, disagrees with you.

 

 

Seriously, that extra chromosome is weighing you down.

 

There is no vaccine for the Chinese military.  There is no vaccine currently offered any citizens.  The only lines are the ones you stand in for free food at the shelter.  

 

Fauci the Fool?  The one who has changed their story 1/2 a dozen times about wearing masks?

 

Seriously, Jethro, Granny is going to mighty upset that you are lying again.  

Edited by PotO

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1 hour ago, RVR said:

I'll just allow each of our last two posts to stand, as you make my case.

 

 

Yes, I did make your case ... that you have mental and integrity issues.  Thank you, Jethro.  

Edited by PotO

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