Tossing and Tortured 'Till Dawn

I come back to you now, at the turn of the tide.

Thursday, August 10, 2006

I'm not moving to China.

Just yet.

Still, a few points of note: Did you know China has freedom of speech guaranteed in its constitution?

It's true. And, according to The Economist's August 4th issue, it's starting to get used. Recently, the Chinese government considered a law banning certain types of news reports without government permission, the penalty being a fine of between 50,000 and 100,000 Yuan ($6,250 - $12,500). Public outcry forced the law to be retracted.

As for the United States, in June President Bush signed a law that would increase the fine for "indecency" on television tenfold, to a maximum of $325,000 "per incident." Consider that an "incident" refers to the display of the material by a single affiliate, and that large, nationwide programming can be broadcast on over a hundred of these.

One exposed nipple? Thirty-Two Million dollars!

Dare I make a joke about freedom of the press and "priceless?"

Other items of note:

United States's Debt 9 August 2006: $8,448,162,775,201.94

United States Federal Government Deficit FY2005: $333 to 427 billion

Chinese Foreign Reserves (Money in the bank): $925 Billion USD, mostly in US funds.

and

US GDP growth: +3.7%, Q1 2006
US Consumer Prices (inflation): +4.3%, June 2006

Chinese GDP growth: +11.3%, Q2 2006
Chinese Consumer Prices : +1.5%, June 2006

THAT IS TO SAY that, in the United States, inflation exceeds growth by 6/10%, whereas in China growth exceeds inflation by 9.8%

ALSO in the United States, Wages are growing at a rate of 3.9%. This means that Real average wages are declining at a current rate 4/10% annually.



I don't have the time to dig up the rest of these numbers, but this sort of thing has been the trend for the past 5 years, at least.

"They" keep saying that China's economy is "overheating," and that the US's will "recover," but so far it hasn't happend.

To be fair to the United States, it's much easier to grow when you're starting at a lower point. China's GDP per capita was estimated in 2005 at $6,800, whereas the United States' was $41,800.

In 2000, however, it was $36,200, while China's was only $3,600. 89% increase versus 15%.

Information from The Economist and the CIA's World Factbook.

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