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China saving too much money: Bush

1

1EZduzit

Lifer
In an interview with conservative radio talk show host Rush Limbaugh, Mr Bush said China should become "a society in which there's consumers. Because now they're a society of too many savers".

"And the reason why they're saving so much money is because there's not a pension plan or a legitimate health care system. And so, therefore, people hoard the money they have in anticipating a bad day," said the president.
Click to expand...

So Bush reccomends that they should spend more and buy more US products when they don't have health insurance or social security? So the same guy who is pushing private SS accounts for this country is critical of China's people for saving too much?

My God people, this guy has busted our budget and he's preaching to China, the country who has been financing his debt, that they are saviong too much?? I can only conclude that the dittoheads will believe anything they hear from Rush and/or Bush.
 
It's more then that. I don't know what the wages are in China, but it has to be way less then $1.00/hr, and they're saving too much money??
 
Bush is the STUPIDEST or the most DISHONEST President. Ever.
China DOES have a pension system. (try searching for China Pension System on the web).
China DOES have a universal health care system (try searching for Chinese health care).

Which proves Bush is the STUPIDEST or the most DISHONEST President. Ever.


btw have some fun and check out this site. It is is for Chinese students who are coming to the US to study. It explains how our health care system works and is different from the Chinese. Very interesting:
http://www.china.nafsa.org/health/hsystem.htm
 
Originally posted by: 1EZduzit
It's more then that. I don't know what the wages are in China, but it has to be way less then $1.00/hr, and they're saving too much money??
Click to expand...

Our (my company's) Mexican plants start at $0.86 per hour. Our Chinese plants pay $0.08 per hour (in US Dolllars).

Strangely enough, they quoted a machine at $450,000 USD vs a quote of $350,000 in the US.
 
Originally posted by: Engineer
Originally posted by: 1EZduzit
It's more then that. I don't know what the wages are in China, but it has to be way less then $1.00/hr, and they're saving too much money??
Click to expand...

Our (my company's) Mexican plants start at $0.86 per hour. Our Chinese plants pay $0.08 per hour (in US Dolllars).

Strangely enough, they quoted a machine at $450,000 USD vs a quote of $350,000 in the US.
Click to expand...

Saving too much on earnings of 8 cents an hour? When they go on a spending spree what do they do? Buy a stick of gum?

 
Originally posted by: techs
Bush is the STUPIDEST or the most DISHONEST President. Ever.
China DOES have a pension system. (try searching for China Pension System on the web).
China DOES have a universal health care system (try searching for Chinese health care).

Which proves Bush is the STUPIDEST or the most DISHONEST President. Ever.


btw have some fun and check out this site. It is is for Chinese students who are coming to the US to study. It explains how our health care system works and is different from the Chinese. Very interesting:
http://www.china.nafsa.org/health/hsystem.htm
Click to expand...

This is not exactly true. China's health care and pension systems have been trimming benefits and cutting people off of it for the past years as ways to save costs. The point being that coverage is incomplete and spotty.
 
Originally posted by: Termagant
Originally posted by: techs
Bush is the STUPIDEST or the most DISHONEST President. Ever.
China DOES have a pension system. (try searching for China Pension System on the web).
China DOES have a universal health care system (try searching for Chinese health care).

Which proves Bush is the STUPIDEST or the most DISHONEST President. Ever.


btw have some fun and check out this site. It is is for Chinese students who are coming to the US to study. It explains how our health care system works and is different from the Chinese. Very interesting:
http://www.china.nafsa.org/health/hsystem.htm
Click to expand...

This is not exactly true. China's health care and pension systems have been trimming benefits and cutting people off of it for the past years as ways to save costs. The point being that coverage is incomplete and spotty.
Click to expand...

How do they afford anything on literally pennies a day?
 
China IS helping the U.S. They buy lots and lots of our bonds. Also, why the hell would they buy U.S products? Almost everything that can be made in the U.S can be made for less in China. Thats why we import so much from them.
 
Originally posted by: techs
Bush is the STUPIDEST or the most DISHONEST President. Ever.
China DOES have a pension system. (try searching for China Pension System on the web).
China DOES have a universal health care system (try searching for Chinese health care).

Which proves Bush is the STUPIDEST or the most DISHONEST President. Ever.
Click to expand...

Don't hold back, techs.........tell us how you REALLY feel!! :roll: LOL
 
Originally posted by: blackllotus
China IS helping the U.S. They buy lots and lots of our bonds. Also, why the hell would they buy U.S products? Almost everything that can be made in the U.S can be made for less in China. Thats why we import so much from them.
Click to expand...

Exactly. It's just more pollyanna from the NeoCon's. I find it pretty ironic that Bush choose the Rush Limbaugh show to talk about something so obviously flawed. About the only thing China ever buys from us is food.
 
Originally posted by: 1EZduzit
Originally posted by: blackllotus
China IS helping the U.S. They buy lots and lots of our bonds. Also, why the hell would they buy U.S products? Almost everything that can be made in the U.S can be made for less in China. Thats why we import so much from them.
Click to expand...

Exactly. It's just more pollyanna from the NeoCon's. I find it pretty ironic that Bush choose the Rush Limbaugh show to talk about something so obviously flawed. About the only thing China ever buys from us is food.
Click to expand...

Well, technically it is what is allowing the tax cuts. His massive spending policies either required a tax increase (well, leaving them where they were) or a large increase in borrowing. It will be nice when he leaves office.
 
It's amazing that Bush seems to think his saying that the problem his policy causes is a problem will do anything to help it.

The Chinese are just enjoying the crap out of themselves. Long ago, the Russians said the foolish capitalists would sell them the rope they'd use to hang the capitalists.

There were just ahead of their time, as it's happening now.
 
I don't listen to rush, but I gather rush agrees with bush on this. Sigh.......

How can china afford to live on penny's a day? Well, you use your pennies to buy US government bonds. They start adding up real quick! Those penny's start turning into dollars.

Oh, yeah, they didn't teach you that in high school... What they don't even teach you this crap in college... They just hand out credit cards like candy. America sucks... We need to start teaching our kids how to start saving money and use a condom... I bet 80% of all college kids doesent even know the meaning of compound interest.

Bush, you have dumped down america enough....
 
they have all that money from our current account defecit and they need to use it to buy our stuff... to bad they cant because its spent on the defecit...
 
Originally posted by: techs
Bush is the STUPIDEST or the most DISHONEST President. Ever.
China DOES have a pension system. (try searching for China Pension System on the web).
China DOES have a universal health care system (try searching for Chinese health care).

Which proves Bush is the STUPIDEST or the most DISHONEST President. Ever.


btw have some fun and check out this site. It is is for Chinese students who are coming to the US to study. It explains how our health care system works and is different from the Chinese. Very interesting:
http://www.china.nafsa.org/health/hsystem.htm
Click to expand...
China doesn't have a socialist health care system. Trust me. I'm chinese and even though I live in the US, I know about this. China USED to have a socialized health care system (which sucked) but now their system is effectively private. (by the way, China is definitely more authoritarian than the US but the US is actually more socialist than China.)

By the way, I was reading the Economists this week and they have a lot to say about China's saving. It's actually mostly from business saving rather than personal saving. In america, there is neither so it's a strange concept for most Americans. Basically, George prints dollar bills to pay for the war in Iraq. This causes the dollar to fall. Chinese companies then use their profits to buy US treasuries to shore up the US dollar so that americans will continue buying from them. So basically the chinese are subsidizing the purchase of chinese products by americans. This may sound nonsensical but I remind you that Cisco did essentially the same thing back in the dotcom days. The reason China does this is because China is willing to sacrifice current profit and spending in order to increase development and employment. Since there are so many people that are still essentially subsistence farmers, this isn't a bad idea really.
 
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