Tens of thousands of migrant workers are leaving the southern Chinese city of Guangzhou after losing their jobs, railway officials say.This places pressure on China to restore the old World Order of the dollar empire. If it does not swallow its lumps and buy up the $2 trillion in treasury debt, it will face mass erosion of its Treasury holdings, a deeper US recession, a further rise of its currency, and further displacement of these migrant workers. If it does it faces a larger tribute burden to the US, domestic inflation, and further civil unrest. Either way, they are in deep trouble. In all seriousness, please pray for China. I remind my readers: all this for the sake of protectionism and "stimulating exports." Where is the stimulation now? It isn't worth it. It never is. The spring has been wound far too tight. The process of snapping to pieces and tearing us all to shreds has begun.
Saturday, November 8, 2008
And So It Begins...
This just in from BBC. The crisis in China is accelerating.