Is China’s Bubble About To Burst? Look Out US!
Economy | Information | History | Online | Facts | World | Global | Money
Economist Dr. Richard Wolff, Democracy At Work joins Thom. China - the world's second biggest economy - recently saw its stock market plummet 30 percent in a month. Does this mean that next big economic crisis is right around the corner? For more information on the stories we've covered visit our websites at thomhartmann.com - freespeech.org - and RT.com. You can also watch tonight's show on Hulu - at Hulu.com/THE BIG PICTURE and over at The Big Picture YouTube page. And - be sure to check us out on Facebook and Twitter!
Comments
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Thom: disappointed that Dr. Wolff spoke of China's progress in the abstract, out of the context of 4 major qualifiers; specifically, Western and Japanese investment of money and IP, voluntarily and involuntarily by theft, (b) a centralized government that willingly enslaves vast numbers of its citizens without financing safety nets of any kind, (c) provincial and local officials willing to destroy their air, soil, and water to keep competitive, and (d) a system that allows corrupt politicians and business to export their ill-gotten gains to foreign countries. Without the ability to cheat their foreign partners, their citizens, and their ecology, China would not be posting the numbers that they have. Most significantly, as in the game Whac-a-Mole, intersectual bubbles, i.e. ghost-cities, cancer villages, defaulted loans, credit issues, watergy, etc. will sooner than later overburden the CCP. In short, the devil China agreed to do business with, and all those who profited thereby, i.e. US and Europe, will suffer for trying to cheat Adam Smith/Milton Friedman.
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It is never gonna burst, cuz chinese central government is still going to print huge amout of money, and let statistic department of liar union to shit a perfect increasing percentage of GDP. That's it.
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So, how's Russia enjoying the low prices for oil exports?
Nobody cares about Russia. Without nukes, Russia would be as important as Uganda or Peru. -
Two morons babbling at each other.
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these guys give me hope America wake up
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I don't understand how this show and Larry King remains on RT and they took Breaking the Set off the air. TH just likes to hear himself talk. He complains about Fox all the time but he acts just like them. His opinions are outdated. It's no longer left vs right in this country. They're just different sides of the same coin. It's now the rich and the rest of us.
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This news reader is PROPER ASSHOLE..
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screwed news.. LOL!
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what would happen to britain if war broke out between america and China?
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Economist Dr. Richard Wolff is a buffoon...... LOLJust checked the sky is not falling. GDP rising, unemployment low, dollars value high, new home sales up, near zero inflation............. Just like Putin's Russia.....LOL
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The biggest bubble is not in China. The Chinese at least have a real economy, they're producing. The biggest bubble is here, in the United States, courtesy of the Federal Reserve. The whole US economy is like a huge bubble about to explode, hence all the wars abroad to save the petrodollar, to coerce other nations into using useless USD as their reserve currency.
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An American with sense. Wow you just don't see that anymore.
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The position for G2 around the globe has been moved to India instead of China. Thanks for providing world factory and good bye china. All U.S. debt will be absorbed by many others developing countries like South Korea.
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One Marxist fuck interviewing another marxist fuck.
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the intern market of CHINA is 1.5 bilion people not 300 mil like U:S sooooo.
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china became nr 1 throw WORK ,not war or speculation or MBor FMI .
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wow I guess is all about time, I need to update my wallet
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Alright, I tried to watch this video, but this author has it all twisted. Capitalism is the only modern economic system that promotes personal and societal wealth and growth, lifting people out of poverty. That capitalism is the problem with the American and Western system is a lie of leftist high academia. They blame capitalism so people will ask for socialism. The real problem is not capitalism, but corporatism, or corporate fascism. Fascism is more accurately called corporatism, and is the blurrimg of the lines between and the merging of corporate and government power, and that's exactly the kind of economic model the West, China, and the United States specifically use in the realm of big business. Corporatism is not commonly rightfully recognized as corporate fascism, but is often more commonly called crony capitalism, again, using a misnomer to confuse and manipulate language in order for people to reject capitalism, the source of their prosperity, in favor of socialism, the very thing that is enslaving them. The synonym for corporatism called "crony capitalism is actually a misnomer, because corporatism has nothing to do with pure, genuine capitalism at all and is actually more socialistic than anything. There again, we come back to the reality that corporatism is fascism, or national socialism. Another lie of leftist high academia is that fascism is the opposite of communism and that they are ideologically contradictory. That is not true. People forget that the Nazis and the Soviets were allies before the Nazis betrayed them. The only difference between the two systems is the approach they take in accomplishing their extremely similar goals. Fascism is national socialism, whereas Communism is international socialism. One of the few practical, everyday differences between fascusm and communism is that fascists are just more intellectually honest and transparent about their goals than communists. If fascism and communism were so contradictory, then the Communist government and corporatist big business wouldn't mesh so well when they clearly feed off each other. The US too largely has a corporatist system when it comes to big business, particularly when it gets in bed with government, and the US culture and politics are very much riddled with Marxist ideologies. For example, an overwhelming majority of the ten planks of Marxism from the Communist Manifesto are basically in affect in some firm or another in the US today. The only one that they absolutely haven't accomplished yet is extensive nationwide gun control and inevitable confiscarion. Political correctness is, when studied in historical context, is more appropriately called cultural Marxusm, derived from critical thought and the old Communist European school called the Frankfurt School, whose teachings and ideologies migrated over to the US and whose teachings and ideologies are found throughout higher education.
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the greediest people in the world killing themselves to invest in cities of condos where nobody lives .what did they think would happen ? in life you usually get what you deserve and they sure will . greed ,fear,greed,fear,greed,fear,greed,fear !
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Dr Wolff preaches 'Socialism, that is why he never goes after the communist zionist bank-sters that are the real factor of the destruction of the USA and other countries with Rothschild zionist central banks.
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