HN user
Ah yes, the old - it’s too complex to understand by outsiders argument. And claims of racism to boot.
Taiwan is Chinese, they don’t have this system. So spare me the crocodile tears.
Single party rule and state controlled media with one of the most sophisticated censorship infrastructure in the world has exactly one simple goal.
Correct, so long as there is a state controlled media and no independent media and we can only speculate on where people who have “disappeared” from public view are, this is exactly the position everyone should hold.
This is single party autocracy, no matter how much people cry about propaganda.
This is just Chinese propaganda and you’ve swallowed it while.
China is undergoing a massive recession and they haven’t protected citizens. They won’t let citizens be refunded or cancels their mortgages bankrupting them.
They are shoveling money into AI and burdening their cities with massive debt and leaving behind 500 million people in agrarian rural towns. There is now a shift backwards to rural life because AI is high skilled, unlike their manufacturing boom.
Where did you come up with this nonesense?
Again, the govt was responsible for pushing this framework in the chase for gdp growth.
They’ve paid for it now. They’re deep in a recession with signs it may be a 1990’s style Japanification.
Nope they didn’t. They refuse to let citizens cancel the mortgages even though developers haven’t delivered condos for years and they haven’t bailed out the little folk.
Moreover China’s govt was the cause of this by setting gdp growth quotas to get promoted, see all my other comments regarding this.
You’re just repeating propaganda and interestingly the other commenter responding to me has said the exact opposite, but also has said that China’s response was “morally superior”
Not at all what’s happening. China’s government privatized real estate and was the engine of the bubble by disallowing localities from taxing and only allowing revenues via land sales. See above how central planning in the CCP has forced massive debt upon localities.
State banks backed Evergrande’s with cheap credit and govt guarantees.
Local officials were promoted for hitting GDP growth targets - see above how they put localities deep in debt by speculating on real estate.
The CCP gave households social credit for moving to cities and buying real estate.
The CCP is not protecting consumers in the aftermath. They won’t let consumers out of mortgages for unfinished condos because they don’t want the crisis to worsen - effectively bailing out developers.
Not sure where you came up with the idea that China is acting in the interest of its citizens rather than the state. That’s not a fundamental characteristic of an autocratic socialist state.
China is undergoing a 2008 style financial crisis due to real estate speculation and deflation due to very weak domestic spending.
They have drowned their municipalities in debt cumulatively equivalent to the US federal and state debt as a percentage of GDP. Localities aren’t allowed to tax but are responsible for local services and industry. Local governments borrowed heavily to hit GDP growth targets and compete with each other for investment and talent.
There is now a backwards migration of the working class back to rural towns from the cities because the incentives China gives is towards technologies that only benefit their already upper-middle class workers. About 500 million Chinese live in rural areas and over 20% of their workforce toils in the fields. That’s not changing anytime soon. Youth unemployment has been 15-20+ percent for some time.
There is some weird obsession on the internet about proving the U.S. is the worst at everything.
Believe me, the majority of “The rest of the world” does not protect its citizens from harmful food contamination.
Inflation adjusted 10 year cumulative return is ~192, no matter how much you don't understand how math works.
You don't re-apply inflation onto the principal.
Home ownership is not the definition of economic class.
The s&p has vastly outstripped inflation, this isn’t even an argument. It’s a very bizarre and uninformed opinion to say “inflation is correlated with s&p value”.
In economics, you deduct the inflation rate from growth to get the real rate of return.
I wonder why so many people with such little understanding of financial markets make comments like these.
Is it ironic? Or did you just read the comment incorrectly?
Feelings aren’t fact. A lot of data shows the doomerism is not reflected in the actual numbers and much of it has to do with rapid inflation and continued vibes.
Consumption has risen, inflation adjusted wages have risen for blue collar and white collar alike. Most social mobility has been the middle class moving into the upper middle class, not moving to the lower class.
The main thing holding people back is the housing crisis. This is orthogonal to the value creation of businesses.
Value creation is growth. If it didn’t exist the S&P would still be 42.55$.
NYC was built without alleyways and much of NYC is single vaulted sewer systems due to its age. There is no space to put underground trash bins.
NYC is also non-uniform, so there are different types of trucks and streets.
Adam's admin largely solved this during his term, but the above ground bins are unpopular because they're ugly and then it takes time to retrofit the garbage trucks for mechanical pickup.
https://www.nytimes.com/interactive/2024/03/02/upshot/nyc-tr...
5 minute swap is not needed for this.
As someone who suffers from a complex autoimmune disorder which has caused dysautonomia and suspected mitochondrial dysfunction, stress flares and exacerbates symptoms. This has a physiological basis in the complex way the HPA axis/cortisol affects us at the cellular level. My primary diagnosis is sarcoidosis with small fiber neuropathy, but they don’t fully understand all the mechanisms of auto-immune fatigue and dysregulation.
Only someone trying to silence any dissent to their position would use platitudes like this rather than addressing why the OP mentioned antisemitism out of nowhere.
It’s very clear that comment is agent provocateurs trying to sow discord. They have a lot of comments about “the west”.
I’ve seen minimal gains trying to adopt agents into my workflow beyond tests and explanations. It tends to be distracting.
It’s so interesting that engineers will criticize context switching, only to adopt it into their technical workflows because it’s pitched as a technical solution rather than originating from business needs.