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A 0.075% Joke December 11, 2013

Posted by hslu in Congress, Economics, Politics, Taxes.
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The “bipartisan” budget deal agreed by party leaders Tuesday achieved this:

$23 billion saving, on paper, in 10 years.

That’s $2.3 billion every year; represents a saving rate of about 0.075% of the US annual federal budget

My question is this: how can Paul Ryan and Patty Murry keep their straight faces when presenting this so-called “saving” to the American people?

It was a joke; a 0.075% joke!

This translates into this to something you and I can understand:

For a family of four with a disposable income (after all taxes paid to the governments before all expenses) of ~$3,000 a month, Mom and Dad called in their kids and said:

“Time is tough. We have to work multiple part-time jobs when they are available out there. Yet we are spending like there is no tomorrow because we are borrowing 20 cents of every dollar we spend. Don’t laugh, that ratio used to be 40% a couple of year ago. In fact, we have been using our credit cards for many years because we like to spend, Period. 

In fact, we owed a lot of money to many people but they are not chasing us down to get their money back. In that sense, we don’t have a problem yet!

But, since we are nice parents and we like to leave you two with a bright future, we decided to come up with new ways to reduce our spending. We worked hard and long and we fought tooth and nail. We have finally reached a new milestone and that’s why we called you in for the good news.

We are happy to let you know that we have come up with a saving of $2.25 a year for the next ten years.

How do you like that, huh?”

Some people call it “Kicking the can down the road.” I call it “The demise of the Democracy” which roughly translates to ” Let the other guy cut the benefits.”

These people call themselves the representatives of the people. But they are not. They only represent people who vote the most or people who has the most of money to hire lobbyists. They next generation does have a representative at the table.

In the end, they will get the can .

 

IMF, Taiwan and China September 27, 2013

Posted by hslu in China, Global Affair, Politics, Taiwan.
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I was searching for some data on Taiwan‘s GDP growth rate and found this table in a paper by IMF. The reason for the search is because “台湾的经济实在很差“ was all I heard when I was in Taiwan a week or so ago.

Look at the last entry at the bottom of the table.

Hint: Don’t pay attention to the numbers.

Energy Consumption - coal to gas project

Source: http://www.imf.org/external/pubs/ft/weo/2013/01/pdf/text.pdf; page 168.

Should China Label the U.S.a Currency Manipulator? Yes, of course. November 30, 2012

Posted by hslu in China, Economics, Euro, Global Affair, Obama, Politics.
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Obama administration has just decided not to label China a Currency Manipulator.

For good reasons.

Actually, the real question should be “Should China label the U.S.a currency manipulator? ” The answer is, of course, “yes!”

Just ask Bernanke! He’ll tell you that’s exactly what he intended to do and we have WSJ to prove this: “Bernanke wanted developing economies to let their currencies appreciate.”

http://online.wsj.com/article/SB10000872396390443749204578055600111447318.html

All that fiat money printed by Bernanke for QE3, $40 billion every month until who know when, is searching for higher yields and a lot of that has gone to the purchases of currencies of foreign countries.

America is not only manipulate the US dollar, it even wants to manipulate other weaker countries’ currencies.

It really give “currency Manipulator” a new meaning.

 

Whether Bernanke succeed or not is not the question answer

 

 

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