Wall Street = WAR STREET = Capitalism Finishing

[neddy]

Angmos who are in awe of China do not know anything other than its economy.

Those who know China find out that Chinese do not even know their own history or have much idea of the international world. They only know $$$$$.

In terms of human development, Chinese are still rather immature.

In manufacturing, china is a copycat factory, most unlike British manufacturing in their heydays that incorporate much innovation.

Watch what this Canadian author has to say.

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[neddy]

I'm well acquainted with Austrian economics.

What do you think?
Austrian School is all about bringing back Imperialism that they lost in WWI. The reason why the Hasburgs were treated so badly by the Americans was because the bankers want to control the world and they did it through Capitalism and the Central Bank.

But the Austrian School is outdated because of their emphasis on Gold and small government. Let's face it,this worldwill become a cow-boy town with small government and really, the only people with Gold were the Royal Families.

Yes, whoever control the Gold controls the world!

There are good points in the Austrian School but they need updating to transform today's world.

As for Capitalism, Karl Marx's prediction has came true.

 

[Agoraphobic]

This destruction was already predicted in David Korten's "The Great Turning."

Whilst some are worrying what is going to happen, others have already taken steps to position themselves better.

Recommended reading.

Understand, then take the necessary steps.

Cheers!



http://livingeconomiesforum.org/great-turning-book

The Great Turning: From Empire to Earth Community

David Korten’s classic bestseller, When Corporations Rule the World, was one of the first books to articulate the destructive and oppressive nature of the global corporate economy. Now, ten years later, Korten shows that the problem runs deeper than corporate domination—with far greater consequences.
In The Great Turning, Korten argues that corporate consolidation of power is merely a contemporary manifestation of what he calls “Empire”: the organization of society by hierarchies of domination grounded in violent chauvinisms of race, gender, religion, nationality, language, and class. The result has been the same for 5,000 years, fortune for the few and misery for the many. Increasingly destructive of children, family, community, and nature, the way of Empire is leading to environmental and social collapse.

The Great Turning makes the case that we humans are a choice making species that at this defining moment faces both the opportunity and the imperative to choose our future as a conscious collective act. We can no longer deny the need nor delay our response. A mounting perfect economic storm is fast approaching. A convergence of climate change, peak oil, and the financial instability inherent in an unbalanced global trading system will bring an unraveling of the corporate-led global economy and a dramatic restructuring of every aspect of modern life.
We cannot avoid the unraveling. We can, however, turn a potentially terminal crisis into an epic opportunity to bring forth a new era of Earth Community grounded in the life-affirming cultural values shared by most all the world’s people and eloquently articulated in the Earth Charter.
The Great Turning is an essential resource for those who understand this need and are prepared to engage what Thomas Berry calls the Great Work. It cuts through the complexity of our time to illuminate a simple, but elegant truth. We humans live by stories. We are held captive to the ways of Empire by a cultural trance of our own creation maintained by stories that deny the higher possibilities of our human nature—including our capacities for compassion, cooperation, responsible self-direction, and self-organizing partnership.
Changing our future begins with changing our stories. A work already underway, it ultimately calls out for the participation of every person on the planet. The Great Turning points the way to the inspiring outcome within our reach.
In this video Jan Roberts interviews David Korten on why he wrote The Great Turning

 

[Fook Seng]

Ang Moh GOVERNMENTS are in deep shit simply because they're perpetuating a welfare system that is unsustainable. Ang Moh PRIVATE ENTERPRISE is doing fine. There's a big difference.

In order to understand what's going on, you need to take a look at a similar situation on a smaller scale, a good example being the state of California.

The State of California is BROKE. However, you only need to spend a couple of months in silicon valley to realise that there is an insane amount of wealth in the bank accounts of sizeable number of its inhabitants.

California is the home of Google, Apple, Intel and Facebook plus thousands of other multimillion dollar companies. So why is the State on the verge of bankruptcy? If you can grasp what's happening at this macro level, you'll understand why the West is still way ahead of China.

This needs some correction. Not only is the State of California in bankruptcy, the Federal Govt of the US was twice on the verge of bankruptcy in the past few months and the problem was not so much that of a welfare state as that of taxing too little those who indulged in speculative investments. Much of the problem was due to leftover effects of rescuing the troubled financial industry bogged down by the sub-prime debacle. The economy could not recover enough on its own steam to reduce the deficits that were there. Before the 2008 recession, the US economy had been supported by their domestic consumption on borrowed money. The citizens were on credit provided by banks and the Govt borrowed using bonds. After the worst of the recession, the people refused to commit to the same level of consumption as before and the economy stagnates. Seriously, a major re-structuring of the US economy is begging to take place. Ironically, technology could yet deliver a major blow to the economy. This thing you hear so much nowadays - cloud-based services, a seemingly innocent thing, is expected to hit the industry hard. Already it has almost claimed one casualty - HP. Just a couple of years after acquiring OS Palm to battle in the tablet market and has actually develop a tablet product to compete, HP suddenly announced that it is getting out of the PC and tablet business. It is as if it suddenly realizes that this market is a strength of the Asians and those companies like Apple with strong alliances on Asia. Thus HP follows the footstep of IBM exiting from the hardware consumer market. Microsoft will not be spared either as it struggles to re-structure itself against cloud- oriented players like Google. Imagine if you do not require a powerful computer but a simple tablet with a small solid state storage and web OS and everything that we have today in our PC is in the cloud, including MS Office, your Accounting Package, PDF, your music, your video etc. Microsoft will have a lot less to sell, so is INTEL and so is all of the memory and solid-state suppliers. There will be a complete re-shuffling of the deck. Apple and Google will fight it out. One relying on the present state of the wireless infrastructure, the other on the hope of a future ubiquitous network. Who will be the beneficiaries of all these? Asians, of course. Who else can produce these tablets and wireless devices which do not have much power and features but is nice looking and cheap and in large volume? Who cares who control the clouds in the US or Europe? In China, in India and Korea, it will be mainly local operators with indigenous or imported technology. And genetic healthcare? Who can move faster without the baggage of religious ethicality? I was told in some strategic industries in China, R & D personnel make up 30 to 40 % of the employees. We really must open our eyes. Don't say LKY does not know. He knows but we can do nothing about it. The US tries to stop the Asian steamroller. The Europeans are considering their options but might take a different position from the US. As the saying goes, if you cannot beat them, join them.

 

[flkyflky]

Angmos who are in awe of China do not know anything other than its economy.

Those who know China find out that Chinese do

PRC do very good innovations on their products. Unless all you know are the lowest end products from village factories. The advanced companies in industrialized tech parks makes better products than the west.

Not to forget Nokia Apple Seagate Kingston etc etc million of products worshiped by stupid Ang Mohs are MADE IN PRC. Laptop, i-pads, i-phones, Sega, Sony, Nintendo, cameras etc all the things deemed good are mostly from there. Today many PRC products are better than Japs.

 

[Leongsam]

Not to forget Nokia Apple Seagate Kingston etc etc million of products worshiped by stupid Ang Mohs are MADE IN PRC.

"Made in China" doesn't make China a world leader in technology.

In the 80s, Singapore made 70% of all the world's disk drives. Seagate Singapore alone employed 20,000. However, this contributed nothing towards Singapore's long term survival. When the disk drive companies moved on, Singapore was left with nothing more than empty factories.

20 years have passed since the glory days of manufacturing and Singapore has been forced to prostitute itself as a sordid gambling den and money laundering centre in order to survive.

If the Western multinationals move out of China in the near future, the same thing will happen. The Chinese system does not encourage innovation and lateral thinking anymore than Singapore's system does. People seem to forget that it's a totalitarian state which provides no protection whatsoever for intellectual property. No innovative chinaman in his right mind would want to work there. They all move to the West where their ideas can blossom.

 

[scroobal]

You are wasting your time. You get the same bullshit from Indians who make extravagant claims about being smart and innovative. Both these clowns still trying to manufacture a decent clown. Even the Koreans are way ahead of these clowns. Both have cheaper labour and there is no incentive to innovate . Less effort require to use cheap labour.

"Made in China" doesn't make China a world leader in technology.

In the 80s, Singapore made 70% of all the world's disk drives. Seagate Singapore alone employed 20,000. However, this contributed nothing towards Singapore's long term survival. When the disk drive companies moved on, Singapore was left with nothing more than empty factories.

20 years have passed since the glory days of manufacturing and Singapore has been forced to prostitute itself as a sordid gambling den and money laundering centre in order to survive.

If the Western multinationals move out of China in the near future, the same thing will happen. The Chinese system does not encourage innovation and lateral thinking anymore than Singapore's system does. People seem to forget that it's a totalitarian state which provides no protection whatsoever for intellectual property. No innovative chinaman in his right mind would want to work there. They all move to the West where their ideas can blossom.

 

[flkyflky]

"Made in China" doesn't make China a world leader in technology.

Chinese innovated lots of technological breakthroughs that west are all thrown behind, superconductor is an example. Neutron bomb is another. Medical achievements quite many. Space beat many western powers. In consumer technologies PRC makes the world's best refrigerators that beats German & Japs in QUALITY & Durability.

Leadership positions in technologies kept increasing in PRC just like their Olympic Gold.

However it is clear that lots of western technological leadership are purely money losers. Such as IBM. I don't think it is deemed by PRC as practical goal however they still hold the advantages.

Lots of Cellphones & Computer Consumer Products are R&D in PRC. Quality assurance & production cost effectiveness are also developed there.

Americans are left with nothing but brand & style in products such as i-phone. PRC company such as Huawei can do these GSM software + hardware better than Apple. Ang Moh like Apple only insist in disadvantaged features in iphone which makes the world laugh. E.g. battery non-removal & no memory card removal & no FM radio. On contrary Chinese product designs are so much more practical oriented, they included TV + FM + dual SIM + multi-memory-card + multi-battery into Google Android phones. They made travel phones that need no re-charge for 1 month.

West are surely going to be eaten in technology.

 

[psy83]

China doesnt manufacture its own brands(At least most of it)... Every component of an item to build a product can be bought in china and manufacture right there and then, Instead of shipping different components all over the world to one place, another big reason to move to china is how cheap labor is there. So thru out the entire chain till the product is onboard a ship,(even delivering the product from the factory to the port) Cost is being reduced drastically by being in China. Just like Nike and its sweat shop in 3rd world countries, They continue to jump ship once the economy grows and labor starts to be more expensive..They will then move to the next 3rd world country.
This will happen to china too and big companies will immediately leave china economy plateau or slightly make it drop... China GDP largely comes from building ghost Towns all over the country + new Infrastructural but all this will come into decline soon. Everyone seems to be painting a rosy picture of china..I do agree that it has come a long way but all this wealth we are seeing being thrown around like buying bottles of whiskey worth hundreds of thousands of dollars are a very small No. of very flashy Chinese businessman vs the large population of 1.3billion people who are still left in poverty and struggling in life. We dont seem to see this side of the coin but only in AWE of a small group of individuals who are extremely flashy and we take it as the whole china is like this.

One thing about China innovation is usually by copying other technology or upgrading an existing technology by tweaking it here and there slightly.. But we still got to give some Chinese company credit as they have innovated products or technology by their own means but that number is very low.

Etc... During the campaign to capture Bin Laden, 2 helicopter landed in the compound, While landing one of the heli got into trouble and crashed, after all the shooting and killing they left on 1 heli but not before putting a couple of bombs to destroy the heli copter that crashed just in case someone will try to study their air-craft.. Next day a few chinese came into pakistan and took notes of the helicopter, most likely to imitate it.. The latest Chinese build air-craft fighter is also rumored to be a copy of an American air-craft fighter.

P.s ...China can build its own product but can it market it to the rest of the world, Its own product seem to be of low quality but quality of foreign goods manufactured in China seems to be of more superior quality. China has to build its product with quality maybe then can it start selling + Marketing a Brand is fundamentally the most important thing to making your product sell but china seems to be having trouble marketing its own products.

 

[flkyflky]

China doesnt manufacture its own brands(At least most of it)...

You just have ABSOLUTELY NO IDEA how many countless number of brands of products in PRC. For each citizen in SG there are more than one unique product brand name to match. Literally many millions. Most of that you can not see here.

I also lost count of the number of brands sold by bankrupted Ang Moh to PRC, increasing daily.

 

[psy83]

Of cos there are lots of brands that are products of PRC or Products bought by PRC, I am talking about the big brands..Not small brands.

 

[flkyflky]

What is BIG?

• use by many billion users?
• billions of dollars of sales turnover?
• billions of dollars spent advertising?

There are many huge market huge turn-over products well known by billions of Chinese, but not known to Singaporeans. However they are too big for our red dot you know?

I know you are talking exclusively about Ang Moh styled and Ang Moh branded only. Non-Ang-Moh no count to you?:p

Of cos there are lots of brands that are products of PRC or Products bought by PRC, I am talking about the big brands..Not small brands.

 

[halsey02]

It's now New York City, WAIL STREET.

 

[krafty]

boss, i think you are prejudiced against PRCs. my stint in china previously tell me that china will only grow stronger in economic and military capacity. the theory this helen wang put up is very rigid, times change and so do people. what makes you think that PRCs can't move with time? PRCs maybe culturally immature cos' of the emphasis they put on money but they are just as hardworking or even more than older generation sinkies. if i am the pap government, i better be in good relation with china, dun mess with them. somehow, i have this feeling that they think of us as a similar yuan shi kai who play them between taiwan and china, and even between USA and china.
Military wise, only the best pple are selected, not any tom or dick who aspired to be in army can join.

That's what Chinese propaganda would have you believe. Reality shows a different picture. Take Western products and markets out of the equation and tell me what you have left.

For more info, go to http://helenhwang.net/2010/03/myth-of-manufacturing/

 

[Leongsam]

times change and so do people. .

The Chinese cannot change. If they could, China wouldn't the shit hole that it is today. Chinese civilization has been around for a long, long time. However, their influence over the rest of the world is non existent. All they have influenced is Italian cuisine and that's only because Marco Polo went to China and brought the knowledge back to Italy.

All the Chinese are good at is fighting with each other. They've been doing that since the dawn of time.

 

[krafty]

china did learn from their lessons in history and it isn't in shit hole. you should visit china and see how big,new and beautiful their new buildings are. btw, all along they knew the impact of foreign social media and that is one main reason they ban facebook and twitter. That's to prevent foreigners from messing with the way the PRCs think.
the fight you mention was between groups of pple who want to be in power, as if in the west, there hasn't been any fight due to hunger for power, was not hitler one of them? currently, the chinese government is in stable hands, besides little politicking which is a norm in politics, i dun see any other group in china trying to usurp power from the current one.

The Chinese cannot change. If they could, China wouldn't the shit hole that it is today. Chinese civilization has been around for a long, long time. However, their influence over the rest of the world is non existent. All they have influenced is Italian cuisine and that's only because Marco Polo went to China and brought the knowledge back to Italy.

All the Chinese are good at is fighting with each other. They've been doing that since the dawn of time.

 

[Leongsam]

china did learn from their lessons in history and it isn't in shit hole. you should visit china and see how big,new and beautiful their new buildings are.

Any country can build "beautiful buildings" but that doesn't fix the rot from within. Don't be fooled by fancy facades.

The Real China

September 22, 2010 5:55 P.M.​

By Jonah Goldberg

From a reader:

Dear Mr. Goldberg:

I have appreciated your past articles exposing Thomas Friedman’s ridiculous envy of so-called “progress” in China. But his latest article demonstrates beyond doubt that he has no clue about the real China or its people. Contrary to his protestation, his opinions are based on illusion and have no credibility whatsoever.

My wife was born in Shanghai and we visit her family there often. We also have traveled to many different provinces in China, including to adopt our two precious daughters. In all our travels, I have never come across anything that can be accurately described as “space age,” “ultramodern,” or “well-appointed” with the exception of the rare, isolated facility designed specifically to impress visiting foreign businesspeople or dignitaries and gullible journalists who are being led around by a governmental tour guide. 99% of the construction in China built for the average Chinese citizen over the last 10 years is comparable both in terms of quality and creativity to public housing built in Chicago, St. Louis or New York 40 or 50 years ago.

If Thomas Friedman bothered to visit with real Chinese families and saw how they actually lived, he would realize that his admiration for China is misplaced. He would no longer stand in awe of its buildings but rather would admire those Chinese citizens who have managed to remain inspired by the dream of freedom and liberty despite the oppression of their government.

(I still have to travel to China so please keep my name confidential in all respects. By the way, doesn’t that request say all that needs to be said about China?)
​

 

[syed putra]

Yes, close down the biggest casinos.
it seems everything is dictated by "the markets" nowadays. the markets are actually gambling your hard earned income and pensions speculating trillions stocks, commodities and forex with no job creation.

 

[krafty]

when i was in china, i did see how they live. they remind me of the squatters in chinatown, eventually, these areas were taken down and revamped into tourist spot. the factories i went to resemble like those in sungei kadut area. they have computers and internet connection as well.

it takes time for china to do all these improvisation. china is a big country and not like us,everything can be done in a snap of time like few months to few years.

btw, i dun believe completely what angmo say, i relied on my own eyes to see what is really going on. many angmos and indians envy sinkieland too, thinking that we are rich and clean and so on...cos they never see the poor, sick and aged begging for money in my estate yet. fair enough, majority are doing well but at the expense of long and exhausting work hours.

Any country can build "beautiful buildings" but that doesn't fix the rot from within. Don't be fooled by fancy facades.

 

[Cruxx]

China = Sinkieland. Same development model: let in the MNCs, give them a wide berth, suppress labour rights, exploit as many humans as possible. Eventually, the economic gains plateau. Without the ang mohs, China and Singapore are nothing. Look what happened when the CCP became self-important and started picking winners in the economy. They ended up building ghost cities and malls, one after another. The PAPzis' investment record isn't impressive either.