BrotherJohnF- China More Honest Than America

Here is my latest interview with BrotherJohn F.

4 comments to BrotherJohnF- China More Honest Than America

  • Rojelio

    How did US become the biggest baddest empire in the history of the earth? How did we crush Hitler, send a man to the moon and pave the country in record time?

    Answer: 10$ or less per barrel of oil. Those days are over, even for the Chinese.

    China may have their fiat debt under better control than the west does, however it bugs me that the financial experts seem to spend about 0% of their time taking into consideration the world oil situation.

  • Dana Meador

    On April 2, it was announced that China’s “official” PMI increased from 51 in February to 53.1 for March, demonstrating that fears of a hard landing for China are vastly overrated. The only problem with the figure was that it contrasted starkly with the PMI decrease from 49.6 to 48.3 computed by independent banking group HSBC. Since a figure over 50 indicates expansion while a figure under 50 indicates contraction, it is important to to judge just which reporting agency is more credible.

    Anyone who thinks that China publishes truthful economic figures that investors can rely on probably failed to follow the outcome of the 2000 Olympic Games in which it was determined by the International Olympic Committee that Dong Fangxiao was, in fact, only 14 years old and therefore ineligible to win the bronze medal. (we have yet to see whether the Chinese perpetrated the same hoax in the Beijing Olympics but one needed only to look at the missing baby teeth of those Chinese gymnasts to realize they weren’t anywhere near 16, regardless of what their “official” birth certificates said). Look, if Chinese officials are willing to commit fraud for something like the Olympics, what’s to stop them from doing the same thing with something far more important like their economic data?

    People everywhere are being encouraged to invest in Chinese companies that take advantage of China’s “emerging middle class”. The theory is that the Chinese are getting richer, are developing a taste for the American way of life, and, therefore, China is a great place to invest. It’s not. The bankruptcy of Sino-Forest, which caught investors of the calibre of John Paulson with their pants down demonstrates just how risky investing in China can be.

    With the continuing suspension of mark-to-market accounting in the US, many investors have opted to channel their wealth into investments in China and other emerging nations with even more lax accounting rules than here in the States. Peter Schiff, Marc Faber and Jim Rodgers have all recommended investing overseas as a hedge against the demise of the dollar. This is foolish in the extreme.

    Chris Duane is right, right, right to recommend investing only in the things you can put your two hands on. Anyone who thinks an investment in China is a safer, better bet than PMs you can lay your hands on at a moment’s notice, fails to understand how the Chinese operate. When the fiat currency music stops and people are scrambling to find a chair to park their dollars in, China is the last country I would trust to give my money back when the music starts up again. In 1959 the Dali Lama landed homeless and impoverished on India’s doorstep when the Chinese confiscated Tibet, and I am not even close to having as much international clout as he.

    • “Anyone who thinks that China publishes truthful economic figures that investors can rely on probably failed to follow the outcome of the 2000 Olympic Games in which it was determined by the International Olympic Committee that Dong Fangxiao was, in fact, only 14 years old and therefore ineligible to win the bronze medal.”

      Yes. I agree with you on this. I don’t trust American numbers, and the Chinese numbers are most likely off as well. That’s where I don’t agree with Bro John’s analysis about China.

  • Rainmaker

    Perhaps a better title would be “US less honest than China”?

    @Rojelio. Oil was the decising factor in WWII, its US oil that tipped the scales in that war, along with alot of Russian blood and a few nukes in Japan. As far as being “the biggest and the baddest empire empire in the history of the earth”, thats a moniker that might come bite us in our big bad ass.

    @Dana. China may not be the best place to invest, but the question to ask is, is China a better place to invest than the US? Is the east a better place to invest than the west? Are the BRICS a better investment than in “the west”? What investor in its right mind would invest in bankruptcy? (One that could see profit?)

    Unfortunately, our choices in life, and politics is for the the least worst.

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