Isn't China's massive growth, with massive population, kind of an indicator that... socialism can work? And it does get paid for? And it doesn't bankrupt the country, but allows it to expand? They have some massive human rights violations, but they have a mixed economy, mixed market, basic health care... and 4x more people than the US. They aren't anything to emulate, but they are evidence that America can adopt some practices that are considered socialist, and not tank. And we're going to have to... or we will get economically blown away.
I agree with you in principle and getting European Socialism is a requirement for the US to be competitive. However, I don't have much faith on the trajectory of the country that we can do so without turning into a Balkanized hellscape.
I never want to be China or a Balkanized hellscape, but I don't think we can go on like we are either. "European Socialism" is really FDR/Eisenhower ism, imo. It got rebranded since we quit doing it.
It's the right way to redistribute wealth. I think it's more palatable to people to have socialized programs, that provide a lot of jobs and are basically an investment in your nation and it's people that aren't a free for all. I think if we go "free college" and "free healthcare" there need to be some very uncomfortable conversations to make that sustainable... but wealth redistribution in the form of grants for R&D on plastic reusability, etc is a lot more palatable.
https://www.nbcnews.com/news/world/actor-john-cena-apologizes-after-taiwan-comment-n1268526 China off the top rope
Are they basically a subsidy of the Chinese government, or some private/publicly traded company? If the later, what. the. hell.
Public. I mean, nothing in China is totally public, but they are as close as you can get. 70% of China's economy is based on real estate.
A Chinese guy on our team was talking about how there are about 1.5-2 apartments per person in most major cuties. Not vacant. It’s a Chinese hobby to use a few apartments. The real estate debt is over a trillion with almost 200-300 of that being with Evergrande. I’ve been scratching my head how commercial real estate in the US hasn’t imploded yet. This is helping me understand but it’s all just nuts. Looks like the worst was staved off for but we’ll be hearing about this again before long. This has the feel of a (forgive me the COVID similarity) contagion event.
Yeah, this is the warning shot. I'll be interested in how Bejing responds long term. Didn't know that about the apartments though. That's interesting.
I’d say the feds buying bonds is the only thing that has kept commercial from crashing. it’s wild out there in real estate right now. The other day I got a letter in the mail from a realtor company saying they have a buyer that wants my house and farm and to call or email them my price. That’s a first for me.
