Wednesday, November 26, 2014

China Syndrome

China is the only major economy having had ZERO recessions in the past 20 years. 
In 2008, China's growth rate slowed to a "mere" 6%, and it's currently ~7%. Central Planning = No recessions for decades.

I think we all see where I'm going with this - 
The great engine of Globalization is heading for a long delayed hard landing. And with a minimum wage still at 80 cents per hour, I'll go further out on a limb and say that Jeffrey Sachs' "End of Poverty" fantasy is a colossal fucking failure.