dimbat Posted August 30, 2011 Share Posted August 30, 2011 Still will be nothing like £6 an hour minimum wage Link to comment Share on other sites More sharing options...
Harleyman Posted August 30, 2011 Share Posted August 30, 2011 Still will be nothing like £6 an hour minimum wage The younger generation will have to see a very considerable increase in their working wage because over the next decade or two they will bear the cost of supporting a huge number of aging Chinese who are also living longer than previous geneartions Either that or a great big chunk of China's increasing wealth will have to to be spent on this. Link to comment Share on other sites More sharing options...
dimbat Posted August 31, 2011 Share Posted August 31, 2011 with pensioners getting around £100 a month, USA owes China over a trillion $, i think just the interest will cover the pension of whole of China Link to comment Share on other sites More sharing options...
Sierra Posted August 31, 2011 Share Posted August 31, 2011 with pensioners getting around £100 a month, USA owes China over a trillion $, i think just the interest will cover the pension of whole of China That's if we repay them. Link to comment Share on other sites More sharing options...
Jason Bourne Posted August 31, 2011 Share Posted August 31, 2011 That's if we repay them. You wouldn't risk your AAA credit rating, would you? S&P got quite a beating over that Link to comment Share on other sites More sharing options...
0114owl1867 Posted August 31, 2011 Share Posted August 31, 2011 With the debacle of Gulf War 2, the national shame at the response to the devastation in New Orleans after Hurricane Katrina and the downgrading of the economy is the American dream over? Do average Americans give a damn? Every time i've been to the U.S.A I've never wanted to come back IMO its X10 times better than here, yes they're quite prudish and think we all have elevenses, tea and cakes etc and think the Queen actually rules us, but I'd forgive them that if they would let me live there, dream or no dream Link to comment Share on other sites More sharing options...
Sierra Posted August 31, 2011 Share Posted August 31, 2011 You wouldn't risk your AAA credit rating, would you? S&P got quite a beating over that Heavens, no! I dunno. I'm not a financial whiz but if I were China, I wouldn't lend us any more money. I've seen too many cases where some greedy person keeps lending money to someone who's having trouble keeping up with bills, and they're lucky if they end up getting their principal back, never mind the interest. Link to comment Share on other sites More sharing options...
Sierra Posted August 31, 2011 Share Posted August 31, 2011 You can only squeeze so much before the American taxpayers say the hell with it. The last year especially, I've seen people here left, right and center, walking from their financial obligations, and so help me, NOTHING happens. And I mean nothing. They drive the same cars, live in the same place, and seem to have more a lot more disposable income and fun than us schmucks who actually pay our bills. No kidding. My husband has a friend whose yacht repair business has been having a hard time the last few years. His business was being evicted for non payment of rent. He filed bankruptcy, which effectively wipes out most of his debts, it also stops any collection efforts by creditors. Before this is over, his beleagured landlord (and he leases quite a large area, several acres in an industrial area next to the water on the California coast) will lower his rent substansially and let the amount he owes in arrears slide. This same person also sublets space to tenants and you better believe those people are paying him rent and he's pocketing it. In the meantime, his wife is still shopping at Nordstroms. I guarantee you China won't get their money back. Unless...they know this and there's another reason they're lending us money? They seem pretty sharp in some ways, but very shortsighted in others. They are wrong if they think we'll honor our obligations to them, and I'm not proud of that, but the amount owed just keeps going higher with no end in sight. IMO, the crazy high debt numbers are meaningless to the average person. Does any of that actually get repaid? Doesn't seem like it. People's standard of living haven't changed and that's all anyone cares about. Can I still keep my house, get my Starbucks and go to Tahoe for two weeks in the summer? Link to comment Share on other sites More sharing options...
Jason Bourne Posted August 31, 2011 Share Posted August 31, 2011 I'm not a financial whiz but if I were China, I wouldn't lend us any more money. I've seen too many cases where some greedy person keeps lending money to someone who's having trouble keeping up with bills, and they're lucky if they end up getting their principal back, never mind the interest. I guarantee you China won't get their money back. Unless...they know this and there's another reason they're lending us money? They seem pretty sharp in some ways, but very shortsighted in others. They are wrong if they think we'll honor our obligations to them, and I'm not proud of that, but the amount owed just keeps going higher with no end in sight. That's a very interesting point. Perhaps the Chinese simply wish to use this debt as a crutch with which increase their influence in global politics, much like they're doing in Africa. And as for what the Chinese doing in Africa - namely supplying equipment and expertise to isolated governments in return for access to the country's mineral wealth - there's not much honour involved. They're not Japanese Link to comment Share on other sites More sharing options...
Harleyman Posted August 31, 2011 Share Posted August 31, 2011 The war in Afghanistan is costing the American taxpayers 900 million dollars a week. Remaining in Iraq costing even millions more. And how much with the involvement in Libya? We need to call a halt to wars of choice, bring home the troops and keep the money here. Eventually we might just be able to either cut down borrowing from China or put an end to it altogether Link to comment Share on other sites More sharing options...
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