All along, various voices have been hyping up China’s local debt crisis, because there is nothing to hype about national debt, and compared with peers, the safety factor is far ahead.
The ratio of U.S. national debt to GDP exceeds 125%, while Chinese national debt only accounts for 21% of GDP, which is a fraction, not to mention that China still has a large amount of state-owned assets. , but the country’s money is poured into the hands of capital, and then packaged on Wall Street, this is a proper profit. Don’t be too cool about changing the game of living money.
The actor Ronald Reagan was sent to the White House because of his big sale when he was the governor of California, and won the unanimous favor of the capital tycoons. After arriving in the White House, Reagan sold it at a low price in the name of reform. The fool was limping, so no one saw the sins she committed: selling state-owned assets at a low price, and crazy debt expansion.
As long as the Soviet Union finds a more reliable leader than Gorbachev, it may kill the United States together.
The United States and the Soviet Union are two sides of the world’s power coin. It seems that one is going up and the other is going up. In fact, one is prosperous and the other is lost.
The United States led the Western world to swallow up the rich wealth accumulated by the Soviet Union, and it has been dominating the world for 30 years now. After Europe and the United States lost the Soviet Union’s wealth, they began to lose their own wealth unceremoniously.
According to Grandpa Mao, capitalism has become a pure revisionist force, losing the ability to plunder externally. According to the previous distribution model, capitalism relies on plundering externally to compensate its own people, providing higher welfare benefits, etc. .
Once the power of expansion comes to an end, the imperial dividends that the common people are used to eating will disappear, so various internal debt problems will emerge in endlessly.
There have been waves of street movements in France this year, because the government wants to cut benefits. The French have lived a decent life by squeezing Africa before. As a result, they have to accept a large number of African immigrants, and Paris has gradually become a black Paris.
But everyone is like this, wanting more when they have it. Whether it is a new immigrant or a native citizen, the interests from Africa are still being impacted by anti-colonial activities.
Recently, there was a coup in Niger, and France was fleeing from Africa in embarrassment. The myth that thousands of soldiers wiped out half of the continent in the past will no longer exist. The local resistance forces are also equipped with modern guns, and the French soldiers have long been favored. His life has been pampered, and he can’t even guard the soil. How can we talk about wolfish aggression?
A group of idiots used to know every day why people in Europe and the United States do not work and make more money, and they can still maintain the level of developed countries. Teaching people to cook or is there something hidden under the system? Everyone is pretending to be stupid but refuses to say anything.
The population of France is only 67 million, and the benefits directly plundered from Africa every year were 800 billion U.S. dollars, not counting other things, so you see, why do people want 996? How comfortable is it to lie flat on the bottom floor?
But the world is developing, and where there is oppression, there is resistance. In recent years, the head of state of such old colonialist countries as Britain and France has been educated face-to-face in overseas colonies.
The empire’s external plunder was ultimately in vain.
There is also an American model, which uses U.S. dollars to collect financial taxes. Unfortunately, the world is so big. If Europe eats more, the United States will have less share. Therefore, when there is trouble, the people of the world will not only anti-colonial, but also against A series of operations against the euro, British pound and even the Swiss franc.
Old Europe couldn’t hold back its former colonies, and couldn’t afford to offend the still powerful American emperor, so it had to decline day by day.
In 2016, when Britain left the European Union, the whole world was stunned, not to mention being manipulated by FB and Twitter. If the common people are very disgusted with Brexit, no matter how they provoke it, can the referendum be established?
The British withdrew from the EU system to start anew. The army has been completely useless. Do you think it is still the lobster soldier who fought the Opium War in 1840?
Britain could not afford the backlash of the imperialist period. The flow of Europe led to a large number of immigrants coming in to eat welfare together. The external expansion was useless, and it was retreating steadily. There were more and more rentier classes inside. An Dang was a troublemaker and came back to seize some benefits from Europe.
The idea was great, but unfortunately my strength was too weak, and I could only fall into a deeper crisis.
The pension thunderstorm of 2022 is a concrete manifestation of this, as is the recent collapse of Birmingham.
Birmingham is not a small rural place. It is the second largest city in the UK and the manufacturing center of the UK. More than 25% of British manufacturing is in the Birmingham area.
However, on September 5, because a fee of 760 million pounds could not be paid, Birmingham City Council had to declare bankruptcy.
If Chinese cities can engage in local debt financing, then of course cities in Europe and the United States can also engage in financing. Why is Birmingham such a big place reduced to this point?
On the one hand, the cost of empire is too high, and old industrial areas mean a strong foundation, but on the other hand, it also means a heavy burden.
British manufacturing has long since ceased. Look at why the rust belts in the five continents of the United States are so miserable. Isn’t it because traditional manufacturing has been killed by finance?
Enterprises are dead, but a city with so many people will not die with them. The money of the rich goes into their own pockets. Private property is sacred and inviolable. They are not obligated to share it with everyone. Simply lie down and eat benefits.
There are people on welfare everywhere, and the rich people who can pay taxes can’t collect their taxes at all. The era of the empire eating other people’s dividends is gone forever, and it is shrinking everywhere.
Fiscal revenue is shrinking, expenditures are continuing to grow, and debts are expanding crazily. At this time, you want to ask, where are the assets? Haha, assets have long been privatized and sold to bosses, euphemistically called private ownership reform to improve efficiency.
It’s not clear that efficiency has improved, but the wealth levels of the rich who bought these assets at cheap prices have also improved.
So is there really only one Birmingham like this?
How many cities in Europe and America are in this predicament?
Why is the zero-dollar shopping activity becoming more and more intense in the United States? In the final analysis, the local financial system is collapsing, there is no money to maintain law and order, there is no way to catch petty thieves, and there is no face to admit your own problems.
Now it is not a crime to rob less than $900. Gradually, the robbers have a big appetite, so they might as well increase the amount. As a result, the crime rate in the United States is getting lower and lower, and there are fewer and fewer police officers. Just looking at the data is simply a human society. A miracle of governance.
The miracle doesn’t stop there. After the legalization of drugs, American drug dealers have become normal businessmen, and there are fewer criminals.
Let’s see, how far can decriminalization go?
Behind the seemingly absurd phenomenon is a very practical problem. The empire has been robbed for many years, the money is rich, and the family is rich, but the money has already entered the pockets of the powerful, and the government and ordinary people are only in debt. Once a crisis is encountered and there is a little liquidity problem, it will immediately lead to credit bankruptcy at various levels, from the bankruptcy of large and small cities to the bankruptcy of the capital to the bankruptcy of the country.
How to deal with it? It’s very simple, just restructure the debt, just let it go, or create greater inflation, think about it if the price rises ten times, will you care about your current debt balance?
So you see, of course the Fed wants to cut interest rates and shrink its balance sheet. It wants to shout slogans, and European countries follow suit. The slogans are loudly shouted, but in fact, the money printing machine dare not relax for a minute, but it is working hard.
Therefore, CPI cannot be held down no matter what, because there is too much money. If you use the data of central banks of various countries to make an argument, it is equivalent to the picture of Tucson being broken. Haha, do you understand financial innovation?
The central bank is pretending to tighten, and people’s finances are spending more money and releasing more money.
The finance department had no money, so it was not allowed to borrow national debt. In the end, there were no buyers for the national debt, and the central bank secretly entered the market.
Perfect, the water just keeps pouring out.
You see, I have been saying that CPI will rise since August, but many people still don’t believe it.
For all problems, don’t look at the surface, but look at the reality. People need to live. It’s not cost-effective to rob the poor. You don’t dare to rob the rich. You can’t rob foreigners. There is a money printing machine next to it. Who can resist not increasing the power to print money?
As long as the money printing machine can run, Birmingham will not go bankrupt with more friends. Therefore, the problem in the UK is now likely to be more serious, so serious that the money printing machine cannot be started.
What the hell happened?
Maybe the debt crisis in Europe and the United States is more serious than we know. Local debt has always been more unethical than national debt.
Be careful about the currency crisis in Europe next. Well, I will find time to talk about this tomorrow.