Only Mao Can Save Us
Re: Only Mao Can Save Us
A way to look at it is what has been openly admitted and confessed to in court. HSBC has been fined for laundering $300 Billion in drug money, numerous banks have been fined for financial fraud, no prison time, TBTF, prison is for little people. You can google Mena, madcowprod, C.A. Fitts, etc. At a certain point it's not unconfirmed, it's basic, dangerous denial of reality to say the problem doesn't come from the top.
CHoff
Re: Only Mao Can Save Us
How much was the fine, vs. how much would it have cost to fight?
The daylight is uncomfortably bright for eyes so long in the dark.
Re: Only Mao Can Save Us
The fines are chunk change for the banks, but compare the penalty with the girlfriend of a coke dealer who didn't know what he was into, and got life in prison because he placed a brick in her possesion without her knowing. Another thing to look at is the NATO protected opium crop in Afghanistan, doesn't square with millions doing time on drug related charges.
CHoff
Re: Only Mao Can Save Us
Why China hates being No. 1
Beijing reacted with thinly disguised animosity to reports that China would overtake the U.S. in 2014 as the world's largest economy. Why? They don't want the responsibility.
http://management.fortune.cnn.com/2014/ ... ahoo_quoteFORTUNE -- Few countries would turn down the title of world's largest economy. You can count China among them.
Only the United States has enjoyed the immense power and prestige conferred by this position in the last 140 years (the U.S. surpassed Great Britain as the world's largest economy in 1872 and has held the spot ever since). But last week, the Chinese government reacted with thinly disguised animosity to an authoritative economic report announcing that China would overtake the United States in 2014 as the world's largest economy in terms of purchasing power parity (PPP).
According to the International Comparison Program of the World Bank, in 2011, the Chinese economy totaled $13.5 trillion in purchasing power parity. It is on target to grow 24% between 2011 and 2014, compared to 7.6% cumulative growth for the U.S. For its part, the U.S. had $15.5 trillion in PPP in 2011. The Chinese economy at the end of this year is expected to have $16.7 trillion in PPP, slightly bigger than the $16.6 trillion projected for the U.S.
Before the release of the latest World Bank report, the consensus estimate among economists was that China would surpass the U.S. as the world's largest economy in PPP terms in 2019. That China has managed to catch up with the U.S. five years sooner is largely due to the effects of the financial crisis and the Great Recession, which caused anemic growth in the U.S. but affected the Chinese economy only moderately.