The China Bromance is Dead

 Back in 1972 the China Bromance began after Nixon visited China with Henry Kissinger.  As the love story developed, I always thought we would buy their bargain priced goods and we would sell them our higher level technology, and along the way show them how democracy worked and the magic of human rights.  

It's been 50 years.  No deal.  Seems we learned more about their authoritarian ways than they learned from us.  

Being positive:  We can go back to Rotary phones.  There was a time we were adults and could use a map when we traveled.  We could survive without our phone tracking our every step.  We could speak without our TV or phone recording us secretly.  

When we fish-- we can go back before electronic fish finders and go to our favorite spots on the lake.  We can just pop the small trolling motor onto the boat and fish in the early morning with the family.  No big pontoon with the luxury fish storage bin in the back.  Yes the good old days.

And other good news:  When couples go out to dinner, they won't be spending all their time staring at their phones and will actually talk to each other.  It could be wonderful.  A real reversal of attention deficit disorder.

And drivers will actually drive their cars rather than stare at their phones.  Biking will be a lot safer.  Yippie.  

 Classic Posts from the past:

Monday, October 22, 2007
Reflection: Thoughts on the Great Crash

OpEd: "The Great Crash" by Galbraith

If you have read the recent book by Alan Greenspan, "Turbulence," and I have not yet completed it, although I have skimmed parts, and if you have listened to the coverage of the G7 in Europe, as well as pundits in the press, there is the spin that we just cannot do anything about "busts" of markets. The Fed is just helpless it seems when it comes to taking any action to deflate "Irrational Exuberance."

Bold action CAN be taken to rescue banks that have been packaging "mortgage securities" and of course bold action CAN be taken to rescue banking entities that are "too large to fail." That being said, other than rescuing the big guys, they are helpless.

The cause of the Great Crash as explained in the book by John Kenneth Galbraith, was the severe disparity of wealth in America which had widened in the 1920's. The only time in our history that has equaled this is TODAY.

Frequently, the Big boys, as they are called, can be heard saying that this is NOT THEIR PROBLEM. It is true that one does not get to be a "big boy" through meditative exercise...however that being said, without buyers, sellers cannot prosper. In some marketing equation then, one is one's brother's business keeper. Any seller must therefore make sure the buyers can still buy.

How long could such a period of "NON BUYING" last. This is the eyeopener. In 1929, when my father turned 18, and his father died, he went off to college. Then in 1933 when he worked for a few years before going into the service---till the Korean War...the fact that the depression lasted from 1929 to 1950 meant that a whole generation of folks waded through twenty years of "NON BUYING".

The pundits have said that thank goodness we know a lot more about economics now than then. Show me.

Tales From Normal, Mn: High Level Penguin Negotiator Sought for Tariff Talks

 Just got the news out of Normal, Mn where all the bass fishermen are gathered at Betty Lou's Coffee shop, where all the bass fishermen gather each morning.  The bold poster in the Brainerd Daily Times caught their eye". "HIGH LEVEL PENGUIN NEGOTIATOR SOUGHT". 

Must be able to negotiate with island of Penguins where no human has been able to survive.  Only the fittest must apply for this position.  No hint of past surrender to penguins will be tolerated.  Conservative patriots preferred.  Alcohol use or drug use is acceptable.  Some history of business fraud preferred.  

Stay tuned as I follow this story.