Graph: Balance on Current Account (BOPBCAA) – FRED – St. Louis Fed
China is now #1 in yet another economic arena: global trade. The US and Japan fall further and further behind. This is why Japan and the US are both conspiring to start WWIII. To be blunt, this is the worst way to fix this ‘problem’ due to China being a very big country with a huge population that is highly educated and extremely hard working. Japan is literally dying while the US is drowning in red ink and internal hatreds. The above graph is a reminder of the US being the world’s #1 trade LOSER. It is all red ink, nearly a trillion in the year 2007. Only a deep depression trimmed it back to a mere half a trillion in red ink today.
The trade deficit is virtually never mentioned anymore by media, by our big economic publications, by politicians and our government. It is cloaked in deep silence as the red ink spills like blood from a sacrificial bull on the altar of Free Trade. Japan Posts Biggest November Trade Deficit as Imports Climb over 30% which explains why Japan is snarling at all its nearest trade partners, South Korea and China.
But the cat is out of the bag now: BBC News – New titleholder? China says it is world’s largest trader
For some, it is perhaps surprising that China didn’t already hold this position. After all, four years ago, China became the world’s largest exporter of goods. But it’s the surge in imports that has propelled Chinese trade – exports and imports – to hit a record $4.16 trillion in 2013 ($2.21 trillion in exports plus $1.95 trillion in imports). Although the full-year US trade data isn’t yet available, the first 11 months saw US trade at $3.57 trillion. This is why it seems that China has probably overtaken America.
I have predicted this, nay, the Chinese themselves told me proudly, back when I hosted them in New Jersey in the mid-1980’s, they would work very hard to be #1 in world trade by 2025. Congratulations, guys, for reaching your goal in nearly half that time! They called this goal, ‘The 50 Year Plan’ and it was quite controversial in Beijing back then but embraced in the early 1990’s. Now, it is fully hatched and this shows historical perspective of the highest degree especially when this was done due to them listening to somebody in the US who understood history, ahem. Cough, cough.
The fact is, I told the Chinese the Japanese had bribed Reagan and owned a good chunk of Congress which is why they got away with one way trade with the US! The Chinese said they would do the same. And so they purchased the entire Bush clan, uncles, cousins, all of them. They were all for sale and were bought cheap.
The Abe visit to the war criminal shrine worked wonderfully for the Chinese: 60% of Chinese execs say they cannot work with Japanese firms ‹ Japan Today: Japan News and Discussion
About 60% of Chinese corporate leaders say they cannot do business with Japanese firms because of thorny relations between the two countries, a poll published Wednesday showed.
About the same percentage of South Korean bosses said they tried to keep dealings with Japanese companies to a minimum, citing political tensions between the two countries.
However the survey, carried out jointly by the Nikkei of Japan, South Korea’s Maeil Business Newspaper and China’s Global Times, found around 80% of Japanese executives have no problem dealing with companies from the other two countries.
Sure, the Japanese executives want desperately to work with China and South Korea but few of those people want anything to do with the Japanese now that the warmongers are running riot there. If one clicks on the above Japan Today article and read the nauseating, obnoxious, often xenophobic and racist remarks of readers, one can see the future written in blood. The Asian victims of previous Japanese imperialist brutality will wipe out Japan. Totally and utterly. Unless the Japanese wake up and realize their peril. They are not top tier anymore, they are on the down escalator, big time, and falling faster and faster with everything running in the red.
Now here are some stories I wrote in the past that are relevant to this new #2 status of the mighty USA: From June 2011: Chinese Sovereign Wealth Versus US Sovereign Debt | Culture of Life News
So the US dollars were not spent. Japan’s Sovereign Wealth Fund can’t be tapped to save its own people because it would make the yen stronger. This, in turn, interferes with exporters in Japan. Increasingly, the life styles of the Japanese people have been declining as foreign trade expands just as this exact same thing is happening here. Our international corporations like this, they keep their profits overseas as well as shipping outwards and this, in turn, makes the general country’s finances worse, not better.
More exports=more profits overseas which leads to keeping these profits out of country. The declining taxes on these profits means governments have to tax citizens all the more to keep afloat or like both Japan and the US, simply silently run up immense government debts.
It now seems that the Chinese communists who are supposed to be cruel and stupid, are actually spending their own trade surplus profits to expand trade and increase the amount of money flowing back into China. That is, China’s export profits go back home, not to say, the Cayman Islands or Jersey Islands, etc. The government of China realizes that Sovereign Wealth is when a GOVERNMENT, not an international corporation, holds the profits from trade.
The problem isn’t just South Korea and China, it is also Russia which is angry with Japanese/US imperialist pretensions: From 2009: CHINA, RUSSIA & JAPAN: SOVEREIGN WEALTH POWERS | Culture of Life News
China is going to BUY the oil and lend Russia badly needed funds. Japan wanted this but insisted on tying the deal to settling issues about the Kuril Islands. Here are some headlines about this from this week:
And from September 2011: Worst Sovereign Debt Countries Cannot Bail Out Global Banking | Culture of Life News
China and Russia are not stupid. Russia quietly surrendered to the West only to be looted and broken up. China knows the US itches to break up China after looting, this happened in the past when Europe invaded and looted China from 1800 to Mao’s final victory. 150 years of systematic looting and invasions left China broken and poor. Something they will be very slow to forget. It is no wonder the top nations holding sovereign wealth happen to also be the ones destroyed the most in WWII: China, Germany, Japan and Russia. The other amazing fact is, the top four nations also were either total national socialist fascist or communist in the past. This radicalization and then destruction has impressed the populations of these countries very greatly and they are hyperaware of what wealth really is, how it works and how it can be destroyed.
This article is only a few years old and Japan’s position at the top in this article is no longer relevant. Japan is now slipping into the negative sovereign wealth ledger. The US is dead bottom last. Of ALL nations on earth. Pretending we are #1 has been a fraud for many years. And then there is the Fukushima catastrophe. The US has passively allowed Japan to fiddle while the Pacific burns. Doing virtually nothing about this hideous mess. The ocean is broken | Newcastle Herald talks about the garbage in the ocean from the tsunami and the radioactive horrors leading to a virtual wipeout of sea life.
The article also mentions the excuse for not cleaning up this mess is due to this being too expensive and would raise CO2 in the atmosphere so it is better to poison the ocean totally???? Talk about insane! This is what happens when people can’t think about two things at the same time and figure out which is more important.
Then there are the experts at the Bank for International Settlements, a paper discussing Asian trade: Asia’s decoupling: fact, forecast or fiction? Asia never ‘decoupled’ because Japan is a parasite economy, note the huge efforts to weaken the yen so they can undermine US markets and take over more markets! There is no desire to ‘decouple’. When the yen got strong and it looked like ‘decoupling’ this was due to the Japanese unable to cheat and weaken the yen due to the US howling about China doing exactly that and screaming about punishing China for this sin while…telling Japan to also not do it.
Suddenly, gears shifted and the US allowed Japan to weaken the yen and voila! Trade pours in…one way, of course. The Japanese sigh with relief and US trade deficits get worse again. Here is the bulk of the BIS study:
I love these magical formulas. They are most interesting and pretty much useless. You don’t need them! The information to watch is simple to discern. These elaborate formulas are designed to HIDE the reality, not expose it. And since most of the data information points are NOT EXACT with reality, the ‘fuzz factor’ rises immensely when a dozen of these data points are mushed together. That is, the answers are nearly always off by a considerable degree.
Watching trade figures, keeping an eye on sovereign wealth data and government red ink, one can pretty much make very good predictions of the future. Add to that political issues such as population collapses or rising numbers of engineering and hard science PhDs and we see who is rising and who is collapsing. The US hides even this data due to attracting students and others so the Chinese feed into our system boosting these numbers. But few are migrating to Japan to go to universities there. Fewer will go in the future if the Japanese insist on being aggressively racist. Their collective inability to use English as a second language after many years of school shows how the Japanese are coping with foreigners. That is, barely able to function at all at this point.
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I’m wondering what all this means for the U.S. dollar. China, Russia, & Iran have all made agreements to trade oil trades in other currencies. Will hyperinflation be the result? And because Israel and Saudi Arabia have pretty much bought our Congress lock, stock, and barrel, is it their plan to watch us descend into total chaos, as racial tensions are boiling to the surface in this country? I honestly can’t see America having any good future at all here, as any sovereign wealth we once had has been sold off long ago. As for the elite/Bilderbergers who have helped orchestrate this calamity, are they fully prepared to live n a country where 80-90 % of the population and country looks like Haiti?
Will hyperinflation be the result? see chart…# 196.
‘a country where 80-90 % of the population and country looks like Haiti?’
Anything is possible……
I am curious what made some Japanese decide to leave such an insular society and end up building communities in B.C. for example in the previous century.
What made them cross an ocean and end up in a completely alien society?
Couldn’t be xenophobic and racist to do that.
ΩΩΩ
ELAINE: Back then, Japan had this huge population surge. Just as Europe did at the same time. Several things caused this: the yam/potato/other Indian foods that had a lot of energy packed in being suddenly used by millions of peasants and modern medical break throughs in sanitation and vaccinations.
Japan’s population is now collapsing rapidly. No more colonizations possible.
I guess if I read up about it it will come down to something like having enough food to eat ,the basics of life.
The IMF has already publicly said they will use inflation and other so-called “savings-taxes” to reduce the developed countries debt. Strategies include Cypress style deposit and investment haircuts, plus offloading Gov debt to insurance and pensions funds. Basically you can kiss your life’s savings goodbye except for the little biscuit they might toss you out of pity. Or not, who knows.
“The [IMF] paper says the Western debt burden is now so big that rich states will need same tonic of debt haircuts, higher inflation and financial repression – defined as an “opaque tax on savers” – as used in countless IMF rescues for emerging markets.” – Telegraph Jan 2,2014.
Oops, link: http://bit.ly/1g4PSwH
Time to dust of that Kurt Vonnegut classic I sometimes post on here. Christie is another obvious sociopath who just does whatever he wants with no remorse, just like the Bushies. Unfortunately for the US it has been taken over by such people who are now everywhere in powerful positions. China doesn’t have to do anything, with sociopathic leaders in charge self destruction is assured.
http://inthesetimes.com/article/44/kurt_vonnegut_vs_the/
(exerpt:)
“You have lived through World War II, Korea, Vietnam, the Reagan wars, Desert Storm, the Balkan wars and now this coming war in Iraq. What has changed, and what has remained the same?
One thing which has not changed is that none of us, no matter what continent or island or ice cap, asked to be born in the first place, and that even somebody as old as I am, which is 80, only just got here. There were already all these games going on when I got here. … An apt motto for any polity anywhere, to put on its state seal or currency or whatever, might be this quotation from the late baseball manager Casey Stengel, who was addressing a team of losing professional athletes: “Can’t anybody here play this game?”
My daughter Lily, for an example close to home, who has just turned 20, finds herself—as does George W. Bush, himself a kid—an heir to a shockingly recent history of human slavery, to an AIDS epidemic and to nuclear submarines slumbering on the floors of fjords in Iceland and elsewhere, crews prepared at a moment’s notice to turn industrial quantities of men, women and children into radioactive soot and bone meal by means of rockets and H-bomb warheads. And to the choice between liberalism or conservatism and on and on.
What is radically new in 2003 is that my daughter, along with our president and Saddam Hussein and on and on, has inherited technologies whose byproducts, whether in war or peace, are rapidly destroying the whole planet as a breathable, drinkable system for supporting life of any kind. Human beings, past and present, have trashed the joint.
Based on what you’ve read and seen in the media, what is not being said in the mainstream press about President Bush’s policies and the impending war in Iraq?
That they are nonsense.
My feeling from talking to readers and friends is that many people are beginning to despair. Do you think that we’ve lost reason to hope?
I myself feel that our country, for whose Constitution I fought in a just war, might as well have been invaded by Martians and body snatchers. Sometimes I wish it had been. What has happened, though, is that it has been taken over by means of the sleaziest, low-comedy, Keystone Cops-style coup d’etat imaginable. And those now in charge of the federal government are upper-crust C-students who know no history or geography, plus not-so-closeted white supremacists, aka “Christians,” and plus, most frighteningly, psychopathic personalities, or “PPs.”
To say somebody is a PP is to make a perfectly respectable medical diagnosis, like saying he or she has appendicitis or athlete’s foot. The classic medical text on PPs is The Mask of Sanity by Dr. Hervey Cleckley. Read it! PPs are presentable, they know full well the suffering their actions may cause others, but they do not care. They cannot care because they are nuts. They have a screw loose!
And what syndrome better describes so many executives at Enron and WorldCom and on and on, who have enriched themselves while ruining their employees and investors and country, and who still feel as pure as the driven snow, no matter what anybody may say to or about them? And so many of these heartless PPs now hold big jobs in our federal government, as though they were leaders instead of sick.
What has allowed so many PPs to rise so high in corporations, and now in government, is that they are so decisive. Unlike normal people, they are never filled with doubts, for the simple reason that they cannot care what happens next. Simply can’t. Do this! Do that! Mobilize the reserves! Privatize the public schools! Attack Iraq! Cut health care! Tap everybody’s telephone! Cut taxes on the rich! Build a trillion-dollar missile shield! Fuck habeas corpus and the Sierra Club and In These Times, and kiss my ass!”
How have you gotten involved in the anti-war movement? And how would you compare the movement against a war in Iraq with the anti-war movement of the Vietnam era?
When it became obvious what a dumb and cruel and spiritually and financially and militarily ruinous mistake our war in Vietnam was, every artist worth a damn in this country, every serious writer, painter, stand-up comedian, musician, actor and actress, you name it, came out against the thing. We formed what might be described as a laser beam of protest, with everybody aimed in the same direction, focused and intense. This weapon proved to have the power of a banana-cream pie three feet in diameter when dropped from a stepladder five-feet high.”
etc.
An interesting link I found:
@Christian W….
I love Vonnegut. Good quote, thanks for including it on this thread. I feel like I’m trapped between two of his excellent novels: Slaughterhouse 5 & Breakfast of Champions. It ain’t a pretty world we’ve created (we’ve
been certainly disrespectful of its beauty.)
WWIII is shaping up to be a humdinger! Cant’ wait either! We can’t have a better world system until this present crappy one is demolished.
The Vonnegut quote was wonderful. After the anti-Iraq war rally in NC, my aunt & I went to visit her sister in law who was a correspondent for a French paper, and lived near the UN. We passed Vonnegut leaving his residence. I didn’t realize from the look on his face how deeply he felt about our endless wars.
Elaine does great work on the whole, one just needs to overlook small lapses of sanity such as when she says things like “There are no Obama scandals” LOL. Even if Obama were a saint, he is still surrounded by cutthroat jackals. And he isn’t a saint. On the subject of the effects trade imbalances and the direction of Japan, nobody is a better source for on target info.
ΩΩΩ
ELAINE: Due to ideological reasons, the GOP only investigates the stupidest, most ridiculous ‘scandals’ possible. They are not aside from Rand Paul, investigating say NSA abuses and spying on foreign leaders who are also ‘allies’ or AIPAC lobbying. Heaven forfend.
No, they go after stupid things because they are themselves, very corrupt.
On the subject of China -japan recent history, I highly recommend a Chinese language film (2011) fictional story taking place during what most of the world calls The Rape of Nanking (and which the Japanese call “the Nanking Incident). It is called “City of Life and Death”. It really is one of those movies that will deeply trouble you, not only about the inhumanity perpetrated by the Japanese Army, but also on the level of man’s inhumanity to man. It really is a masterpiece you probably never heard of.
The masters of the universe have engineered China’s rise and put huge money behind the building of China’s infrastructure.
I went to China in 1988 when the building was just beginning big-time. Within a decade the cities became unrecognizable. This is like an experiment that brings huge money to a few.
2016 was supposed to be the year that China surpassed us, but now it’s 2 years early.
Everything is being manipulated from Libor, the ways economies work. The separation of workers from the market. It’s a disaster for us.
War, between 2 natural enemies or something more wide-spread. We shall see….do we now want to destroy what we created?
Life in the Emerging American Police State: What’s in Store for Our Freedoms in 2014?
By John W. Whitehead
December 30, 2013
https://www.rutherford.org/publications_resources/john_whiteheads_commentary/life_in_the_emerging_american_police_state_whats_in_store_for_our_free
Abe’s visit to the Japanese war criminal shrine got me thinking about the Japanese mindset. Ever watch a ‘Samurai’ movie? The plot line in most of these movies goes like this: you have a small group of aimless, unemployed sword fighters who love their swords more than anything else. These hero wannabes form a small group–and go around looking for a “glorious” way to die. Not, of course, before killing as many people as possible. I think this explains why the Japanese are goading the Chinese into a confrontation, most likely a military one. I listened to a Japanese “diplomat”–not sure of his title–explain Japan’s position on the islands dispute with China. The Japanese diplomat explained: “These are islands we acquired peacefully, we have owned them for years,China is to blame for all this, etc.. I really wonder how close Japan’s dispute with China is to becoming a hot, military conflict? My guess is quite close. Oh well, in the warped, Japanese mindset, they will die a glorious death–and that’s what counts with them. Too bad they are going to leave a radioactive Pacific Ocean as their legacy to the rest of the world.
http://en.wikipedia.org/wiki/List_of_war_apology_statements_issued_by_Japan
there is the above and comments in the AT article suggest that some japanese like to honor their war dead, which is natural.
ΩΩΩ
ELAINE: Apologizing while slapping everyone in the face is not apologizing.
Secondly, the shrine in Japan has a museum claiming there are no war criminals and Japan has a right to invade Korea and China! It is a NAZI type shrine. Imagine if Merkel went to a Nazi religious shrine and praised Hitler.
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Japan buys Jim Beam
http://www.foxbusiness.com/industries/2014/01/13/suntory-holdings-to-buy-beam-for-136b-cash/
@El Kabong
That takeover looks reminiscent of the pre-crash endless cashflow for multinationals, doesn’t it.
Fish testing at 124 times over radiation limit caught off Fukushima
http://rt.com/news/fukushima-fish-cesium-radiation-548/
Yes, aashild
They’ll say that level is a-ok. Keep eating that fish to boost the economy!
^^ Shinzo Abe encouraged people to eat Fukushima rice, saying it made him “healthy” and “strong”.
Yes, killing off all the Japanese via eating radioactive fish! What a great plan for world domination.
Sounds like a plot from Pinky and the Brain!
Yeah, but they will export this the world over. I always say real population control through education and safe birth control practices beats the social Darwinism of the neo-liberals who would rather control population slowly while they make money.
Catherine Fitts says a few things about PC via GMOs and Chem Trails.
Meanwhile China – Saud connection..Voila, the Petro Yuan
http://usawatchdog.com/u-s-bled-to-death-by-china-and-harvested-for-its-organs-dr-jim-willie/#more-11609
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