Hatha Sunahara
14th January 2011, 10:18 AM
The Chinese equivalent of our rating agencies--Moody's and Standard & Poor's-- thinks our economy is 1/3 it's rated size when the 'virtual economy is stripped off. Our elite rulers aren't fooling the Chinese. Here's an excerpt from their report:
The serious defects in the United States economic development and management model will lead to the long-term recession of its national economy, fundamentally lowering the national solvency. The new round of quantitative easing monetary policy adopted by the Federal Reserve has brought about an obvious trend of depreciation of the U.S. dollar, and the continuation and deepening of credit crisis in the U.S.
Such a move entirely encroaches on the interests of the creditors, indicating the decline of the U.S. government’s intention of debt repayment. Analysis shows that the crisis confronting the U.S. cannot be ultimately resolved through currency depreciation. On the contrary, it is likely that an overall crisis might be triggered by the U.S. government’s policy to continuously depreciate the U.S. dollar against the will of creditors.
The total output value of the U.S. financial services industry is composed of two major parts: one is the transferred production value, most of which comes from value distribution of participating in international production. Another part is the inflated value originated from credit innovation, which belongs to bubble value.
In addition, due to the high economic financialization, more than half of the profits in the real economy come from the returns of financial activities. If we exclude the factor of virtual economy, the U.S. actual GDP is about 5 trillion U.S. dollars in 2009, per capita GDP about $ 15,000. Meanwhile, the total domestic consumption was 10.0 trillion U.S. dollars and government expenditure was 4.5 trillion U.S. dollars.
Here's a link to the Daily Bail article:
http://dailybail.com/home/chinese-rating-agency-says-us-as-creditworthy-as-costco-pegs.html
There seems to be some fertile ground for spoofs of the Chinese Professor --sorta like the Hitler Finds Out the War Is Lost video. If I knew how to insert subtitles into a video, I'd make my own spoof out of this.
Here's a sample;
http://www.youtube.com/watch?v=ycdiCL5ZOP8
Hatha
The serious defects in the United States economic development and management model will lead to the long-term recession of its national economy, fundamentally lowering the national solvency. The new round of quantitative easing monetary policy adopted by the Federal Reserve has brought about an obvious trend of depreciation of the U.S. dollar, and the continuation and deepening of credit crisis in the U.S.
Such a move entirely encroaches on the interests of the creditors, indicating the decline of the U.S. government’s intention of debt repayment. Analysis shows that the crisis confronting the U.S. cannot be ultimately resolved through currency depreciation. On the contrary, it is likely that an overall crisis might be triggered by the U.S. government’s policy to continuously depreciate the U.S. dollar against the will of creditors.
The total output value of the U.S. financial services industry is composed of two major parts: one is the transferred production value, most of which comes from value distribution of participating in international production. Another part is the inflated value originated from credit innovation, which belongs to bubble value.
In addition, due to the high economic financialization, more than half of the profits in the real economy come from the returns of financial activities. If we exclude the factor of virtual economy, the U.S. actual GDP is about 5 trillion U.S. dollars in 2009, per capita GDP about $ 15,000. Meanwhile, the total domestic consumption was 10.0 trillion U.S. dollars and government expenditure was 4.5 trillion U.S. dollars.
Here's a link to the Daily Bail article:
http://dailybail.com/home/chinese-rating-agency-says-us-as-creditworthy-as-costco-pegs.html
There seems to be some fertile ground for spoofs of the Chinese Professor --sorta like the Hitler Finds Out the War Is Lost video. If I knew how to insert subtitles into a video, I'd make my own spoof out of this.
Here's a sample;
http://www.youtube.com/watch?v=ycdiCL5ZOP8
Hatha