I hate to see anyone lose their life savings, home, their personal belongings, their family. I have ridden up high not at the top but up there way back in the 1980’s, jet setting around, working with big department store buyers, fashion models, attending gala parties, I know what the glamor is like, it ain’t bad at all. Of course when you are riding high you can never imagine what happens next in life.
I have been down lower than most can imagine, struggling and having a taste of the bottom. No, I didn’t do drugs ever, never smoked a cigarette, didn’t get into gambling debts, nor became an alcoholic. Instead it was financial and I know what it means to go hungry, not fun, quite depressing, a feeling that the train has left you behind and that you are alone. If there is one positive in falling low, it is that it humbles you more, makes you greatly appreciate whatever comes your way, causes you to want to fight for something better. You discover that many feel bad for you, but that few will really help you other than quick words of encouragement and worse yet, their pity.
So how does all this relate to China? Well, it relates to China relating to Wall Street in 1929. They are saying that China’s Stock Market is going to crash. That means that most folks there will lose what little they might have saved. The big people will lose as well, in fact they will lose quite big. The government there will lose. I read somewhere they said the communists will step in, I don’t think so this time, in fact this could quite well cause them to go one of two ways. Abandon Capitalism and free markets, kill off figuratively their Middle Class while the ultra wealthy flee, perhaps to the USA while it is still somewhat free or perhaps Canada. It’s hard to say what will be.
Then what does it mean to the US Gov? Trillions in debt holding liabilities as if the feds didn’t have enough going wrong already. Will those holding bonds being called in, hurt the USA? Probably, but there might just be one massive golden lining for the American citizen in all of this.
$$$$$$$$$$$ Corporate $$$$$$$$$$$
It seems that with that economy shot over there and most of the world going up in flames with other poor economies going bellyup, Islam on the march, there remains one last real bastion of labor long ignored, the American worker. A flood of industry and jobs just could be heading back here. Time will tell, but I have a notion a trend might occur here with China going down the tubes economically.