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LadyEllen -> RE: The end of Chimerica (12/23/2008 3:42:15 AM)
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The article describes how we got into this mess; Chinese people's savings, pumped into the west by way of the financial sector to be used for all the bubbles we now see bursting, and notably the sub prime problem where things started bursting. There was so much money, the financial sector didnt know what to do with it, and sub prime was one of their means of dealing with it.
On our side, conspicuous consumption borne on easy credit from the Chinese people's savings, of the goods formerly made here and now made in China for low prices. Easy consumer credit being another way to deal with all that money, but more importantly - noting that the west's savings had dwindled and its means of generating wealth had been outsourced - the only remaining means of supporting the economies of western nations.
So we have a terrible sequence here - declining western prosperity, the outsourcing of its means of generating wealth, and the imminent collapse of its economy until the prop of Chinese savings flooded in as easy credit to produce a consumer economy which could only last for so long given its foundation. In other words, we have been living on the savings of millions of ordinary Chinese people the last few years, spent the lot and now have nothing, nowhere to go.
Meanwhile, the Chinese are doing OK; yes, their exports are dropping, but they have such a large domestic market that they remain untroubled by our problems. They shall be the dominant nation within a decade or so merely on the basis of their rising domestic wealth and their colonial expansion into Africa to lay claim to the resources they need. And we shall be debtor nations to them for a long time to come.
Where does treason come in? Well, we have seen the result of a sequence of events started not by the Chinese but by our own. Our own politicians, our own companies, our own financiers, and we ourselves have wrought this too. Our politicians and companies and financiers have allowed and enabled it, welcomed it - they have deliberately and purposely bent the knee to foreign usurpation of our position in the world, they have looked to the easiest solutions to our problems and made things far worse in a simpering betrayal of all that placed us in dominion. And we the people went along with it, through ignorance and apathy as it may be despite the warning signs so many could see, selling out the achievements of generations for a cheaper shirt that has cost us and our children dear.
The treason is shared by all of us that have taken part - which practically is all of us - in this episode. But it is not a treason against the state or the nation; it is a treason against our ancestors stretching back centuries who suffered and worked hard all their lives in the hope of giving us a better life than their own. Our generation will go down in history, likely written in Mandarin, as that which betrayed its inheritance and its obligation to its descendants, and be roundly and rightly condemned by the Chinese writers for it.
E
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