China, the U.S. and the Economic Crisis - Niall Ferguson

[ancarus71]

They are gearing up for a war and it wont be the rich silver spoon fed youngsters that go and die, it will be the kids that have been given a third rate education that our governmant have deliberately manufactured to make sure they dont have the intelligance to work out its all the polaticians and bankers fault, they should all be arrestead and as quickly as possible before its too late, they will take all your money then force the frid chip on you mark my words.

[mow1717]

america is becoming third world.old glory would be proud .hahahahaha.

[mikeypezza]

all pointless , the pupulation crisis will kill off world superpowers

[lanceawatt]

The only winners at this moment is Germany, because China can afford their cars. And because China hates Japan. And American and Fench cars suck. And Britain sucks too. Believe me we are shit.

[lanceawatt]

@Inspirer those figures are really interesting... it will also be interesting to see how long China will continue buying German cars, and wether this will extend, relfecting a growing Chinese middle class. China are making their first brand of car so that will be a big factor on their imports I think.

Yeah we have a strong financial sector, but throwing so much weight behind such a volatile market isn't very bright. Fortunately we're letting inflation run it's course to encourage production now.

[YoungSeungSKY]

Chinese are not stupid enough to buy worthless US treasuries and export goods. Plus the U.S. can not repay the debt. China is already making stuff for their own people so that they don't waste money on worthless dollar.

[zephyriffic]

china rose in tang, china will rise again...

[jackgoldman1]

Chimerica. The rich hire the poor to do their dirty work. This is five thousand years of history. The rich hire the poor. The poor NEVER hire the rich willingly. Wealth shifts. Water flows down hill. Money flows downhill. That is reality. Greece, Rome, Europe, Great Britain, it has never changed. Why would it change now? The rich get lazy and hire the poor for dirty work. Even the Israelis follow this model. Poor people work hard, get rich, and get lazy. That's the way it is.

[luizcadu]

@jackgoldman1 You're right, it's part of the human nature, to get arrogant and underestimate the rest of the world when you're on top. That's why power is constantly shifting.

[lanceawatt]

@jackgoldman1 it's a very good point. But in this case I would say greedy. Relentless greed that does not lead to happiness... yet gives the remarkable illusion of it, which turns people into complete arseholes.

[drfaul]

hmmm...why americas economy is dying? in my house are NO american products. not one good. the only american product i consume are burgers. not cause i like no other or being anti- usa. there is nothing in the supermarket, no cars, no tools or machines- only burgers and few IT products.

in the eighties my parents drove a pontiac. now i don't know anyone who drives a american car. really nobody. america should kick his own ass instead of bashing the chinese. this is nothing but childish envy.

[luizcadu]

@drfaul I think you're right. Americans are talking about the Federal Debt (which is, indeed, a big problem) as if it was was the main problem, but the trade deficit and the foreign debt are bigger and harder problems to solve. The US imports three times more oil than China, and is four times less populous.

Also, you guys always advocated free market economy, and the great presence of imported products in your country is a consequence of trade freedom.

Cheers from Brazil.

[BonDecco]

Geez, how many grey heads in the audience

[TaintedFaith88]

@BonDecco That's because they come from a generation that cares. USA's younger generation do not give a rats ass about all these.

[rainzoro]

who gives a shit about the shift of power

we have had a major shift every century or so, and Chimerica relationship is no different from Britain & US back in the 1700's.

[Mikkhep]

If USA did spend more on their own civilians and country than their army forces... then perhaps they wouldnt be in economic crisis. The Middle East has really never been a threath to anyone, USA just needed oil. Alot of the countries in the Middle East hasn't been in war for like 200 years and now all suddenly USA invaded and claimed that.

I vote for Russia, or Europe for the new super power that controlls most of the world.

[drfaul]

@Mikkhep lol- europe for the next superpower?!? lets say u from a german: NEVER! we are part of the game, but we will never be chipleader again.

[Mikkhep]

@drfaul I don't quite understand what you mean with that lol.

[peymaania]

I would divorce and drop that Spending Bitch in a NewYork Minute!

[NBAGOATS]

You IDIOTS. WAKE UP!! America will not go without a fight. The goal is still world domination. This will be carried out through a bigger institution. The UN. The UN will be a new "body", but will have the brain of the US. We will still pull the strings to carry out the final agenda. World domination and eventual peace and security. China is a simple milestone that will be overcame very easily.

[jasonissober]

well, I think what we are talking about are not only just two Economics. They are more two different ideologies,which havn't find a suitable way to adjust each other. I don't believe the USA would tolorent China. That's way China has to be prepared

[stealthpakfa]

america wont even be a union of 50 states.

america will collapse and break up.

just watch and see.

it will happen sometime during this decade.

bookmark it.

[Rocketeer1001]

@stealthpakfa "america will collapse and break up."

Just like the SCO will collapse, get ripped apart and break up into thousands of pieces by the divine hands of NATO.

[1cabraden]

@stealthpakfa

Hey asshole, I put your comment in a calender for December 31, 2009, which is the

last day of this decade. When the US is still here, you won't be, but I'll try to recontact and show you how stupid your comment it. I've bookmarked it like you said. It won't happen. A stupid fuck Russian professor named Panarin predicted

US breakup twice and was wrong both times. Google it if you don't believe me. Your

stupid prediction won't come true either.

[stealthpakfa]

@1cabraden

US will collapse and break up, u just watch. same things were said about the soviet union, that soviet union will never collapse. u are witnessing the beginning of the end of the US union. financial crisis, followed by economic crisis, then currency collapse then union collapse.

deny it all u want, but US will collapse, mark my words.

[1cabraden]

@stealthpakfa

I'll mark you word, but I need your email address so, that as each month goes by, I can remind you what you said. Go google "Igor Panorin" - he's a Russian professor who twice said US wouild collapse, most recently in July, 2010. Let's see now, it's October, and guess what? The US is STILL HERE. I don't know how old you are and don't care but I promise YOU

that you will be an old man and the US will still be here You obviously

don't know a lot about the US or its people.

[stealthpakfa]

@1cabraden

US is a nation of immigrants that came to the US for higher wages and job oppotunities, the second those oppotunities are gone or decreases, those immigrant people will jump ship to the next country with similar opportunities where ever it is in the world.

US needs smart foreigners to constantly prop up america.

under economic collapse those immigrants wont come to america.

bang, america crumbles.

american union is nearing its use by date.

[1cabraden]

@stealthpakfa

I guess you don't want to give me your email address so I can remind you of your remark that we are supposed to "mark your word" that US will collapse. I promise you it won't happen. Even now, the US is the world's largest manufacturing nation; China only have more manufacturing within it borders than US does within its borders. You should also know that if a country's currency is devalued, its exports

will surge and stimulate the economy. A rising yuan would only hurt China.

[ChrisPCrunchy]

@stealthpakfa Exactly!

An immigrant has no loyalty to any nation, they are opportunists who arrive and strip out what they can then leave a massive mess for the locals to build up again over generations only to see the locusts return yet again.

The rich love the cheap labour and poverty that these people spread around the globe because desperate locals will sell their assetts (built up over generations) cheaper when they are starving.

[1cabraden]

@stealthpakfa

And when it doesn't happen, how do I remind you of what you said here and how very

wrong you were. Did you read Igor Panarin's prediction about collapse of US? It didn't happen; both times he was wrong, and he'll be wrong again, like you are now. I promise you it will not happen, and even if it did, it would probably have an enormous negative impact on China's economy.

[051683p]

Learn Chinese real soon, cha' Hua` hui (that's Chinese for Tea Party)

[telecalcu]

american media is the worst propoganda in the history of mankind and americans are owned by jews.

[Rocketeer1001]

@telecalcu Eastern media is worst propaganda in the history of mankind and Eastern people (particularly chinese and pakistanis and russians) and owned and brainwashed by their government.

[MrDeficate]

@Rocketeer1001, Heard of FOX News (News Corp), CNN, BBC, CBS and so on. Propaganda is in every media source, try the free media it's a bit cleaner but It's up to you to filter the bullshit out my, friend!

[SSWOLFENSTEINSS]

So american needs to just keep hina addictated to stay the center of power of the world? Before china it was Japan next it may be india but sooner or later the United States has to invest much much more in education and care of American Residents, and less on global problems that dont concern the U.S.A . Attemping to maintain world domiance thur loans from other nations is stupid. the dollar as a world currency is the only thing keeping American afloat right now.

[Nintendomanwill]

finding ways to plug shortfalls in their accounts through creative use of selling debt to other banks, creative use of masking toxicity, in a method that led banks to commit suicide through myopic overlending apparently with no reaction, all with the gift of being able to monetise the economy as much as they wanted-a gift they abused with sub prime lending; the essence of increasing the money supply without basis in economic growth ie the essence of inflation, its spiral-and deflationary crash.

[Nintendomanwill]

Want to know why such a debt binge was incurred? Simple. States gave banks the cushion of national reserves eg the Fed, in order to allow fractional reserve lending, ie leveraging. Capital requirement laws allowed far too much leverage or put no limits on it at all. The state intervened with reserves to allow monetisation from commercial banks, but didn't regulate use of such generosity. They assumed that the profit motive of banks would prevent them from overlending. This led to banks (continue

[NFLdude505]

you're right fuck china!!!!

[xiaoxiayu]

i fucked your mum

[NFLdude505]

did you now,how'd you fucked my mom she died when i was two!!!!

[Clichyabarbes22]

Wow!!! That's an amazing insult. U r definitely the king of insults. I've never had an insult like that thrown at me. It's so good, I almost feel honoured becuz I don't feel worthy as a very minor character in the world play to receive that extensive an insult totally directed at little old me. Actually I'm not Chinese, nor is my mother Chinese, although I do have a Chinese doctor & I think he's great. Peace to India. I think India's great nation also. :) Cheers buddy from Canada.

[Clichyabarbes22]

Ur just a troll. These figures don't make any sense & u know they don't make any sense. U r just being inflammatory for the sake of being inflammatory. Most Chinese I know in Canada r very very bright & they work very very hard & they don't expect something for nothing. However nothing is what they'll get when the US defaults on thr debt. The inflationary cycle that the US is about to enter constitutes the biggest theft in the history of mankind.

[FyzikalKemizt]

Thanks for a good laugh, now you can crawl back into the stinky hairy hole you came out of, peace!

[andyly0071]

god bless, please bring punishment to the shameless criminals who are still enjoying the bonus of the genocide to the native americans and blacks

[andyly0071]

Hey guys, the chinese has never ever killed a single native american, never cargoed a single blakc as slave, however, the ones who are enjoying the genocide to the native americans are still outlaw without any punishment!! I am calling for JUSTICE, god bless, plesase punishes the shameless criminals

[andyly0071]

China has ever cargoed a single black to china as slave; China has never ever setup his own on others' territory. Chinse are not the native american's genociders. But to you, the only thing you can do is sucking the chinese and native americans' cheap dicks to make yourself noble

[noryblo]

good analogy there, but this is actually true. yanks always play dirty and get away with it by fooling the world. but these days this tactic is just not working anymore...we know holywood is your propaganda machine.

[JasonJG]

haha powder boy! The USA is elite in pride, hard work, and team work. Perhaps, that is why we are still number one, even as the dollar may slip (for now). We are at least making interest payments, as agreed, on these loans. Other countries have defaulted already.

[stealthpakfa]

america is cheap. its on the decline.

[nelemak]

and the crash of that, and thus no more manufactured goods or even fertilisers for the agriculture... well, i kinda fail to see how that wont end the american empire?

So far the americans have been exporting paper, newly printed dollars, but what about the day when those are worth no more than a year old newspaper. Square inch for square inch of paper.

.

And then you have the hordes of entitled people living on handouts, some 25-35% (?) of the population? Chaos!

[ilililhy]

the Obama Curse .greed of the super rich

[wlaux9]

China...RE-emergence as a World Superpower...

[jaimezudo]

Corrida Virtual - PISTA 2:

.

Descubra o nome do animal, que segundo a Mitologia chinesa foi um dos quatro animais sagrados listados para participarem da criação do mundo. Procure uma comunidade com o nome desse animal.

[Dimeron]

If one thing history has taught us, is that uncle Sam can be very sneaky and fights dirty when needed. Who knows, maybe at end of the day uncle Sam will pull some scheme out yet.

But, if that doesn't work, US still have lots and lots of very valuable assets that China, and the rest of the world, would love to get their hands on. Military bases, Military technology, control of natural resources, etc.

Who knows, maybe USA will sell Japan and Taiwan to China for 2 trillion dollars.

[joggylol]

yup were all boned LOL

[avntz1]

Greedy!!!!!!!!!!!!!!!

The War World 3 ?

[rjswood]

America will be flipping burgers for china in no time. "you want fries with that?" I can't say that in any Chinese dialect.

[warmongermattias]

hehe, good one, some one on a political video that doesn't complain

[Killazer]

If the US isnt already bankrupt its just heading further and further into that direction with a neverending budget deficit and a now what... 12-13 trillion debt? Which is 90/100%+ of GDP now? It might even be 110%+ GDP since US GDP is shrinking by a large chunk.

It doesnt matter what your GDP is if you spend 2x more than you make in a year while already having a debt - GDP ratio of 100% you are in serious sh1t. I am amazed at how long the US can defy the laws of mathematics.

[URUROTRASH]

Your post is three months old; but you are right on the money. Its funny that you bring up the GDP vs the national debt and yet you do not hear the mainstream media talking about it. By 2012 its going to be dead even; and the media is just ignoring the issue. Like Obama is going to make it all better. Scary stuff and as an American I could not agree with your post more.

[corymd3470]

See: "When in Doubt, Blame the Asians"

Mises Daily by Tim Swanson

[lolozai91]

haiz another no hope american denyin the fate of USA.but US gt total 13 trillion debt in total.

[lolozai91]

then y don u paid it lol?

[indiasucksalways]

China & India caused the economic crisis by insisting on $200 billion trade deficits year after year and jamming millions of their unproductive workers into the USA and siphoning out our capital. These people are too stupid to realize that their insistence on unbalanced trade is killing their own consumer markets.

[Thunderwavia]

so ture again :)

[paulocbn]

you´re knolwedge of economy is awesome.you should run for the treasury.

[indiasucksalways]

The U.S. Treasurer is APPOINTED, not elected, you moron.

[paulocbn]

really???wow you´re smart

[UseSumLogic]

Translation: America is now scared shitless because China now owns their ass.

[VoLCoMzYaDiGG]

true

[renegadekav]

what are they going to do about it?why should I be scared?

[indiasucksalways]

China is now scared shitless because Americans are not buying their products anymore and 10,000 factories closed in China in Dec. China is 95% export dependent, but USA is only 25% export dependent so China is going to go into the toilet very quickly. China's $2 trillion in debt the U.S. owes is nothing - 1/6 of total U.S. GDP for ONE year. We can pay it off in 2 months if we want to.

[bluebaby0710]

In 2006, I went to a monthly training course organized by Chinese customes officers. they warn all importers the danger to have US as the main market. there r also international exhibitions organized by Chinese officials to go to Eu, middle East, Afrcia, South America, ect. they may suffer a loss because US close their doors, but i am sure they will survive since they r prepared.

[julianscottsounds]

China is not 95% export it is 40% export. But more importantly 2 trillion dollars cannot be paid off by the U.S. in 2 months. I don't know why I'm even dignifying your display of economic ignorance with a response. You don't just take the GDP and divide it the liability to figure out how long it would take to pay a debt. You have to consider what the fixed expenditures/ operating costs are. And it the case of the U.S. gov. they are currently about to spend 2.5T more than they earn. lol

[Thunderwavia]

so true

[JUKIO01]

china is going to kick everyone out of america, or atleast their homes, thats what i heard, america is giving china real estate

[Rocketeer1001]

@UseSumLogic China owns their ass how?

[cabraden1]

@UseSumLogic

Hey piece of shit. Your sick comments, just this year alone, has cost the Chinese economy $50,000. I furnished a completely new home with new furniture, appliances, wall art, decor, etc., WITHOUT A SINGLE ITEM MADE IN CHINA. A

couple of years ago, I had no problems buying Chinese goods. NOW I WONT BECAUSE OF IDIOTS LIKE YOU WHO POUR FILTH OUT OF THEIR MOUTHS.

China owns only about 15% of all US debt - 60% of it is own by Americans and

1/3 of the remainder by China, Japan, UK.

[powerofthroughts]

@cabraden1 how much costing you if you don't using chinese items? maybe you are anti chinese or stupid or a very rich man/woman; you have a choice; everyone seems to use chinese goods as it is make more sense and profitable. good luck. dude

[1cabraden]

@powerofthroughts

I could care less how much extra I might have to pay to buy US goods vs Chinese

goods- but it really isn't that much difference anymore. China is losing its labor advantage edge. The SICK, whacked out crap I hear coming from arrogant Chinese

who have risen a little in their standard of life and now think they are the best people

in the world has completely turned me, and many people I know, against Chinese

products. I am also handing out 200-300 anti Chinese decals/mo.

[1cabraden]

@powerofthroughts

I'm ANTI-CHINESE because of assholes like you and other arrogant Chinese who think China "owns" the US when in reality neither country owns the other and BOTH are dependent on each other for mutual benefits of trade between the two countries, but I am now completely ANTI-CHINESE (not racist), because of the smug, arrogant

attitude so many Chinese now have adopted. Like I said, I had out 200-300 car decals a month. Would you like some?

[1cabraden]

@powerofthroughts

And yes, you may not even be Chinese, but you are very obviously anti-US and pro-Chinese. And anymore, China's price can be beaten. I'm seeing more and more

US products compete on price and those of other countries. In case you didn't know, China already outsources it labor in some cases, and it Chinese worker wages

are rising quickly and this cost is passed off to the consumer which makes their

goods more expensive, and less competitive. 

[1cabraden]

@UseSumLogic

Your sick, arrogant, cesspool mouth is turning off thousands upon thousands of American consumers every day. KEEP RUNNING YOUR MOUTH, YOU PIECE

OF CHINESE SHIT. I VERY HAPPILY SPENT $2,000 HAVING 5,000 'BOYCOTT CHINESE PRODUCTS' LABELS MADE. Give me an email address and I'll send

you some photos of the cars that have them in their back window. So, dip shit,

KEEP RUNNING YOUR MOUTH, you, and other arrogant assholes like you, are

turning the US consumer AGAINST China.

[1cabraden]

@UseSumLogic

Assholes like you are doing nothing but alienating the US consumer and turning them against Chinese goods. The movement is getting stronger and stronger in the US, and I'm doing all I can to spread the word accross America for Americans to boycott Chinese goods. Would you like some free bumper stickers? Thousands of cars each day see the stickers on my cars and thousands of other cars that have my

stickers on them. So fuck off and die you arrogant piece of shit.

[VNVgirl]

@UseSumLogic a bunch of people who didn't have wealth will get it and you say they have nothing to worry about? i find that funny. china has problems coming they can't do anything about. :) GREED.

[Jab9ber9]

Well things are moving faster than I had orignally thought, I told my friends that the USA will become China's bitch and just look at what is happening now, look at the trade gap that exist between the 2 countries; how much money does America owes China now? How many of America's greedy billionaires move there companies to China? How many people in North America will loose their jobs to China? Well it is too late now and whatever China wants to export to they will and we wont be able to comment.

[JUKIO01]

ya thats true, alot of american businesses are moving to china now.

[razoredge45]

Fuck the China...no we dont have a problem. fair trade or no trade asshole! just wait till the full force economic hammer drops..cock of the walk one day.. a feather duster the next! They exploit they dirty the earth life is cheap! They try but they just dont get it..they have a car,they have bluejeans,,but they are just still missing something? to much to fast and now the backlash!!!! and this will be the way the fortune cookies crumble!!!

[TheFlex21]

talking about chimerica to distract you from isramerica

[jonz23m]

...the difference is the wife doesnt have to pay u back.

[miagy420hwy]

@jonz23m yes she does, she refunds you in services :))

[lingqi1985]

Now that America is poor I don't think they are useful to us anymore. Also the fact that America is killing and raping so many innocent children in the Middle-East is one part of that reason.

Just follow the news and its obvious that Beijing is strengthening economic and military ties with its Russian and Middle-Eastern friends.

I hope America some day sees what terrible losses and trouble they caused to the world.

[ric0211]

America is killing and raping, but as a Chinese, I still wish to obtain their visa and go to one of their ivey league schools.

Give me a break, its not like China is anymore virtuous, just look at how we dealt with the Darfur crisis in Sudan. Instead of killing and raping people ourselves, we SELL/GIVE guns to militias to do that. In addition, China uses its veto power in UN to block sanctions on Sudan government. Cheers~

[wocaoabcdefg]

just saying....China has only used their veto power 6times since 1946....the US has used it 82 times....talk about bad guys

[ric0211]

hmm.. sorry, what?

i dont know what you are talking about because I dont know which comment you responded to

[renegadekav]

america rocks!

[imangrynow]

"1,2,1,2 my wife spends so much..." yawn hes smart actually thought he could have come up with a better analagy than that!

[3rdwitness]

bullshitter or not, he's right.

[worcesterwombat]

yeah but all so bleedin' obvious

[blackiron60]

This man is a character, that's all I have to say.

[worcesterwombat]

I think he's a bit of bullshitter, he think's he's an expert on everything, US foreign policy, history, finance, global warming....you name it, he reckons he's an expert---all due a few powerpoint slides

[CaliBeach0007]

Ferguson may be a bit ostentatious in his delivery, but he is brilliant. I would suggest that he is an expert on foreign policy, world history, finance, etc. He's a veritable polymath (unlike most professors) and has written extensively on all of these subjects.

[worcesterwombat]

"too much leverage" - no shit Niall

[worthlessdollar1]

"Ferguson may be a bit ostentatious..."

Huh? Now you've lost me.

"He's a veritable polymath."

What do you have against vegetables, anyway?

[rothenbank]

hes been wrong in all the points he made in that speech that doesn't make him brilliant in my book

[JUKIO01]

theres a movie coming out soon, its called the illuminati

[good4fx]

One of the few possibilities left is that US goes bankrupt, China bails it out, US mortgages the future of many generations and plays as China sings

[Plutonwolf]

Don't look to China, they are in alligators up to their eyeballs too. Plus, the toxic butchers bill for their insane blindered fixation on industrial growth will start coming due very shortly. May all the good Gods have mercy on those poor people.

[good4fx]

Couldn't agree more with your point. I was just being sarcastic, sorry I didn't mentioned that, I sounded too serious.

[Plutonwolf]

Just goes to show you how outre some folks political positions have become anymore LOL