China is Sliding Back into Totalitarianism - Stefan Molyneux Interviews Gordon Chang

[Golden]

http://www.youtube.com/watch?v=uqoPknP-WZE
http://www.youtube.com/watch?v=uqoPknP-WZE
Uploaded by stefbot on Nov 16, 2011

"Macau is now the world's largest gaming destination. Not Las Vegas." Gordon Chang

[JohnWood]

"Macau is now the world's largest gaming destination. Not Las Vegas." Gordon Chang

I was the family dentist to one of the Las Vegas casinos owners during my private practice years. I already knew Las Vegas days were numbered (around 2003) when I heard from my esteemed patient that multinational gambling conglomerates already started expanding their presence in Macau..He reassured me at the time that Las Vegas-based Macau casinos would only go after Chinese Middle Class gamblers !! Boy was he wrong !! The economy here in Vegas tanked as a result of competition from Macau.

In June of this year, I visited China on a tour. Their economy is currently propped up by the Central government stimulus. When the stimulus runs out...you guys can fill in the blank. I have already converted most of my yuan holdings into precious metals.

[hoarder]

Gordon Chang looks more like a Gordon Goldberg than a Chang.

[Horn]

I already knew Las Vegas days were numbered (around 2003)

Where'd you come from all a sudden,, 20 posts since 2010?

I left that town around 2007after ten years there.

[JohnWood]

I registered for this forum just out of curiosity, right after the breakup of GIM 1. I just did not realize GIM 1 splitted into two groups. I was an infrequent participant to GIM 1, because I was too busy at other Investment forums. Irons knows me quite well from another forum. He will vouch for me. By the way, you left Las Vegas at a good time. Crap just rolled down hill from there. Culinary Union insurance imposed their austerity measures upon healthcare providers back in 2007.....

[Horn]

Good to see you on board.

Is amazing to me that half of Vegas has not had an exodus yet.

Casino's always busy, they could tell them the water is irradiated, and the people would still drink there.

The best part of this video & what I think Molyneux was trying to reveal, was how the real change comes when there is a recovery.

[JohnWood]

I appreciate the warm welcome !! In the past, I left 2 forums due to internal strife and politics (paper vs physical). I prefer to tell the truth. Then of course I got punished for it. Drifting from one forum to another since the end of '09, I am very grateful to discover this forum once again. Looking forward to some spirited discussion amongst fellow forum members..
Even if Chinese yuan undergoes major revaluation vs the western currencies, the crushing burden of consuming and debt will fall squarely on the shoulders of Chinese Middle Class. That is until they go bankrupt..History just keeps repeating itself..