cybercoma Posted October 4, 2011 Report Posted October 4, 2011 Point taken, if they weren't pegging their currency, the yuan would have far more purchasing power and thus the chinese would be better off. They flipped when the usa did QE2 because it drops the dollar vs the yuan. However, at the end of the day is an average chinese person better off now or when chairman mao was in charge? It really doesn't matter when we're talking about whether the working-class is better off or worse off here. That Chinese workers are better off is cold comfort to people here and the US fighting to keep their homes. Quote
blueblood Posted October 4, 2011 Report Posted October 4, 2011 It really doesn't matter when we're talking about whether the working-class is better off or worse off here. That Chinese workers are better off is cold comfort to people here and the US fighting to keep their homes. Tell that to someone in the primary industry sector in western canada. The better china does, the better we do. Seen commodity prices for the last 5 yrs, seen the trend for the last 20? Quote "Stop the Madness!!!" - Kevin O'Leary "Money is the ultimate scorecard of life!". - Kevin O'Leary Economic Left/Right: 4.00 Social Libertarian/Authoritarian: -0.77
bush_cheney2004 Posted October 4, 2011 Report Posted October 4, 2011 So the PIIGS mean nothing to you. Especially Greece? No...should they? Quote Economics trumps Virtue.
bush_cheney2004 Posted October 4, 2011 Report Posted October 4, 2011 It really doesn't matter when we're talking about whether the working-class is better off or worse off here. That Chinese workers are better off is cold comfort to people here and the US fighting to keep their homes. If the homes are no longer affordable....welcome back to renting. Millions actually live this way and it doesn't kill them...I've done it myself. Quote Economics trumps Virtue.
cybercoma Posted October 4, 2011 Report Posted October 4, 2011 Exactly... thus the wealth continues to be concentrated. Quote
Bonam Posted October 4, 2011 Report Posted October 4, 2011 Homes are actually pretty affordable right now in a lot of places where they haven't been until recently. I'm looking at buying myself a nice luxury condo in another six months or so... Quote
bush_cheney2004 Posted October 4, 2011 Report Posted October 4, 2011 Exactly... thus the wealth continues to be concentrated. Not necessarily...buying a home no longer guarantees automatic admission to the middle class. Warped market valuations being driven by unqualified loans is over, and the old rules of affordabilty and cash flow apply. Wealth still means assets minus liabilities, and that applies to renters as well. Wealth concentration begins at home. Quote Economics trumps Virtue.
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