WatchRemember when we lost our manufacturing base to China? Turns out that China is now overtaking us in financial infrastructure. Now, it may seem great that bankers are moving to China -- let them ruin China's economy -- but what will be the long-term consequences of China becoming the financial center of the world like it has become the manufacturing center?
http://peoplesgeography.com/2009/05/22/the-shift-eastward-worlds-biggest-banks-1999-and-2009/
Also, an interesting graph showing that half of U.S. Treasuries are owned by insurance companies. Image if we defaulted only on those half and let the insurance companies get a taste of their own medicine. Ah, it would probably come to bite us back if we did. Still, tempting...
Follow
Befriend (4)
328 threads
913 comments
Being unable to destroy this country by buying Communist Chinese products,maybe we can succeed by depositing our money in Chinese banks. I'm glad there aren't any U.S. companies doing business in C.C. If one buys products from Communist countries are they Communist sympathizers? Can hypocrisy bite me in the ass? ROFLMAO.
Follow
Befriend (13)
50 threads
2,626 comments
Premium
Dan8267 says
Not good for the US and UK. Something like 30% of UK GDP is from Finance.
HEY YOU says
Just to amplify your comment, US Free Traitors building factories and teaching the Chinese technology, much of it dual-use, that will eventually be used to sink our Navy.