Warren Buffet called the financial derivatives "Weapon of mass financial destruction"
U.S. mega-banks credit dried up because collectively these banks sit on approximately $600 trillion of derivatives on their accounting books. The book value of these derivatives are multiple times larger than the actual U.S. stocks from which the DERIVATIVES were derived.
A WARNING TO CHINA, you dance with U.S. (financially) at your peril!
correction: I should say "one of the main causes of worldwide economic collapse today."
U.S. financial fatality is caused by a combination of artificial price fixing monetary policies (1% interest and flood mkt with cash)to stimulate demands and keep price high; In U.S. if it wasn't made in China, all goods and services are overpriced 70-500%.
Deregulations allow bank to buy out competitors and speculate on exotic risky derivative businesses to the size of $600 trillions market. PURE GAMBLING
The good news is Y4 trln provides a good boost to China domestic market and keep economy growing about 8-10% annually.
The bad news is, this economic 'stimulus' package represents China's moving toward American style Keynesian's economic approach, mainly government spending to grow economy artificially which is the main cause of world economic collapse today. Market need to correct itself once in awhile, artificial price fixing just make them "too big" to fail and too late for correction, TRAP
and fuck your mom
chinesekiller2003 3 years ago
Warren Buffet called the financial derivatives "Weapon of mass financial destruction"
U.S. mega-banks credit dried up because collectively these banks sit on approximately $600 trillion of derivatives on their accounting books. The book value of these derivatives are multiple times larger than the actual U.S. stocks from which the DERIVATIVES were derived.
A WARNING TO CHINA, you dance with U.S. (financially) at your peril!
planettan 3 years ago
correction: I should say "one of the main causes of worldwide economic collapse today."
U.S. financial fatality is caused by a combination of artificial price fixing monetary policies (1% interest and flood mkt with cash)to stimulate demands and keep price high; In U.S. if it wasn't made in China, all goods and services are overpriced 70-500%.
Deregulations allow bank to buy out competitors and speculate on exotic risky derivative businesses to the size of $600 trillions market. PURE GAMBLING
planettan 3 years ago
The good news is Y4 trln provides a good boost to China domestic market and keep economy growing about 8-10% annually.
The bad news is, this economic 'stimulus' package represents China's moving toward American style Keynesian's economic approach, mainly government spending to grow economy artificially which is the main cause of world economic collapse today. Market need to correct itself once in awhile, artificial price fixing just make them "too big" to fail and too late for correction, TRAP
planettan 3 years ago
It looks like China and only China will come out as a winner from the current global financial crisis that caused by the US.
AntiDefm 3 years ago
FUCK CHINA!!
zion42303 3 years ago