Posts Tagged ‘Communism’

China’s New Enemy: Deflation

Saturday, August 12th, 2023

I have a whole host of “China is Screwed” videos I’ve gathered to post, but haven’t had the time to properly queue them up. So here’s a big picture piece from Peter Zeihan on China’s immediate economic foe: deflation.

  • “They never really recovered from Covid.” Aw. My heart bleeds.
  • “Growth is actually lower now than it was over the course of the last two years when they were supposedly under complete lockdown.”
  • “Consumption is down. Imports and exports both dropped in July compared to a year earlier by double digits of percentages. Normally the sort of stuff you only see out of a country like, say, Ukraine or Russia when a war starts.”
  • “We saw a demographic bomb go off in China before Covid. going back to as early as 2017, the demographics really turned negative from 2017 to 2021. The birth rate dropped by about 40%.”
  • “We’ve had all of these trends with four, five, six, years behind them, and as they’re manifesting in a more normal environment, the numbers are really, really, really bad.”
  • A whole lot of that is due to the One Child Policy.
  • Problem two: Deflation. The rest of the world suffered inflation when the lockdowns ended.
  • “The consumption boom never happened, so supply chains never had to adjust. What has happened is people are less confident in their future, so they’re consuming less.”
  • “We’re seeing mounting trade wars out of Europe, Japan, the United States, and increasingly secondary states like the Koreans are joining in. And that means the Chinese have fewer places to send stuff.”
  • “Product that was normally produced for export from China is now being locked up within the Chinese system at the same time that the population is purchasing less. You have an oversupply of goods and an under demand, both at home and abroad. With all those extra goods prices go down, and you get deflation.”
  • “This is what you would expect when you’re at the beginning of a deflationary spiral that’s caused by a fundamental mismatch between supply and demand, which is where we are going with deglobalization and the Chinese demographic. Trends which are now well past the point of no return.”
  • Japan’s deflationary spiral lasted 20-25 years.
  • Deflationary spirals are very hard to pull out of.
  • “The Chinese economic system isn’t really based on exports or consumption, it’s based on investment, the idea that the state fosters mass borrowing in order to build industrial plant infrastructure. Based on whose numbers you’re using, those are somewhere between 40-70% of the entirety of the Chinese economy, and has generated the vast majority of economic growth.”
  • “You can only do that for so long. Eventually you don’t need any more bridges, or any more factories, and I would argue the Chinese reached that point before Covid. Again, there’s been this three, four year lag between reality and the data finally manifesting.”
  • More spending won’t help.
  • “The amount of growth they get for every Yuan spent has been dropping steadily for 40 years, and now it’s in far less than one to one. So it really doesn’t matter how much more fuel and how much cheap capital the Chinese pump into the system, it’s never going to generate more economic activity than what it costs to put it in the first place.”
  • Sucks to be you, China…

    Movie Review: Oppenheimer

    Monday, August 7th, 2023

    Title: Oppenheimer
    Director: Christopher Nolan
    Writers: Christopher Nolan, Kai Bird, Martin Sherwin
    Starring: Cillian Murphy, Emily Blunt, Robert Downey Jr., Florence Pugh, Jason Clarke, Benny Safdie, Josh Hartnett, Alden Ehrenreich

    I finally saw Oppenheimer, and if you have an interest in the subject, it’s well worth seeing. It’s a near-great film that’s great when it covers the atomic bomb project, and considerably less great when It Has Important Things To Say.

    The movie covers much of the life of J. Robert Oppenheimer (Cillian Murphy), director of the Los Alamos part of the project to build the atomic bomb. The movie has a non-linear format, using the framing device of two different hearings (on the renewal of Oppenheimer’s security clearance, and the cabinet confirmation hearing for Lewis Strauss (Robert Downey Jr.), who lured Oppenheimer to Princeton and oversaw the Atomic Energy Commission, and who is eventually revealed to be the film’s antagonist) interspersed with Oppenheimer’s life before and during the The Manhattan Project.

    When the film is good, it’s flat out great. The scenes here tend to be small in scope, seldom more than a minute long, slowly building up Oppenheimer’s life, his love and study of physics, his dalliance with communism (he was a fellow-traveler who never joined the party, but did take a commie (Florence Pugh) as his first wife and an ex-commie (Emily Blunt) as his second), his dismay as a Jewish American at the rise of Nazism, and his involvement in the atomic bomb effort.

    The brevity of the scenes is one of the film’s greatest strengths. Though mostly quiet and understated in themselves, they slowly build up a heady steam of narrative momentum. By the time they get to Los Alamos itself you’re absolutely riveted.

    And it gets better. The scenes leading up to the Trinity detonation are a masterpiece of film editing, successfully ratcheting the tension higher and higher just by showing scenes of the elaborate preparations leading up to the blast, under-laid by Ludwig Göransson’s tense, violin-heavy score. I saw the film in IMAX, and I think I got my money’s worth out of that sequence alone.

    But that headlong pace enfolds within it a problem: Things move so fast, that some scenes have a certain checkmark quality to them, so that you know exactly what’s coming. Gee, when commie girlfriend picks up a Sanskrit text, what do you want to bet that the passage he’s reading is “I am become death, destroyer of worlds?”

    Please, no wagering.

    But that’s a minor problem compared to the biggest flaw of Oppenheimer, which is what they chose to include as the main non-Trinity storyline. Why have the climax of your film feature the literal explosion of an atomic bomb when you can spend the rest of it on the pulse-pounding excitement of committee meetings?

    To be fair to Nolan, this is obviously the film he wanted to make, and the film is called Oppenheimer rather than The Making of the Atomic Bomb. And the committee meeting scenes are as well-acted, well-directed and well-paced as you could reasonably ask of a big-budget, A-list Hollywood film. But the real reason they’re there is so the leftist screenwriters can Say Important Things.

    Oppenheimer must feel massive guilt and remorse for having helped usher in the atomic age, because this is Approved Opinion. Leftists, even commies, must be shown in a positive light, because this is Approved Opinion. Likewise, McCarthyism must be shown to be Very Bad, so all the crimes of communism have to be kept offstage.

    Indeed, an awful lot happens off-stage, including the bombings of Hiroshima and Nagasaki. Then again, Oppenheimer is the viewpoint character.

    From my better-than-the-average-layman-understanding-at-how-an-atomic-bomb-works-but-hardly-an-expert vantage point, the historical accuracy for the film seems painstaking and effective. I understood why Klaus Fuchs was important when he was introduced, appreciated the Nixie tubes in the Trinity countdown, and figured out the guy with the bongos must have been Richard Feynman. Everything sure as hell looks accurate, and the New Mexico photography is gorgeous.

    But with so much time spent on the commie and Strauss plots, and Oppenheimer having visions of particle physics (early) and atomic destruction (late), the rest of the film (the far more interesting part) feels a bit rushed. Plus the sheer smallness of the stakes that drive the frame-story/post-Trinity portion feels like a distinct anticlimax. Indeed, the primary subplot turns out to be (spoilers) Strauss secretly shiving Oppenheimer by getting his security clearance yanked for…his supporting export of radioactive isotopes to Norway? It’s like if during the climax of Kill Bill, you find out that the Bride’s entire motivation for her revenge spree was Bill never returning her DVD of Steel Magnolias.

    All that said, this is still an exceptionally good film, and even the ostensibly bad guys Have Their Reasons. Even hydrogen bomb father Edward Teller (Benny Safdie), who the writers must have been tempted to turn into a secondary villain, comes across as a smart, sympathetic figure. And history validates both his and Strauss’ view that America was right to move forward on the H-Bomb, as the Soviets were utterly untrustworthy as arms control treaty partners.

    I expect Oscar nominations galore.

    If you’re the kind of person that would watch a three hour movie on the making of the atomic bomb, this is the one to watch.

    Movie Review: The Death of Stalin

    Wednesday, July 19th, 2023

    Title: The Death of Stalin
    Director: Armando Iannucci
    Writers: Fabien Nury (comic book and original screenplay)), Thierry Robin Armando Iannucci, David Schneider and Ian Martin
    Starring: Steve Buscemi, Jeffrey Tambor, Simon Russell Beale, Jason Isaacs, Michael Palin, Olga Kurylenko, Adrian McLoughlin, Paddy Considine, Paul Whitehouse, Paul Chahidi, Andrea Riseborough, Rupert Friend

    Time for another edition of “Lawrence reviews a movie that came out years ago,” because I don’t have cable or streaming. And The Death of Stalin is a movie I kept waiting to get cheaper or turn up used on DVD, but it never did. So I finally ponied up for a copy.

    Now that I’ve watched it, it’s the rare film that actually lives up to the hype, an absolutely scorching black comedy about high level commies scrambling for power (and survival) as Stalin is dying and after he kicks off.

    It’s a tremendous cast, each giving a great performance, as they play one off the other in the sudden power vacuum. Jeffrey Tambor’s Georgy Malenkov is theoretically in charge but too weak to make anyone fear his authority. Simon Russell Beale’s slimy NKVD head Lavrenti Beria (one of history’s nastiest pieces of work) is decisive and cocksure, believing he has enough dirt on everyone to keep his head above water, no matter how much blood he has on his hands. Steve Buscemi’s Nikita Khrushchev is the reluctant party toady who realizes he has to unite the rest of the Committee against Beria before the latter can purge him. Michael Palin (in echoes of his Monty Python and Brazil roles) plays Vyacheslav Molotov as a man who has so mastered communist doublethink that switches from condemning his imprisoned wife mid-sentence to praising her return when Beria produces her.

    Into the inner circle comes Stalin’s children, Svetlana (Andrea Riseborough), possibly the only main character without blood on her hands, and her drunken brother Vasily (Rupert Friend), whom the Politburo hacks immediately start sucking up to. Finally, into Stalin’s funeral swaggers Field Marshal Zhukov (Jason Isaacs, having tremendous fun with the role), the macho, cocksure head of the military who ultimately provides the fulcrum upon which the others can rid themselves of Beria.

    All of this is done in the hilarious, profane, black comedy style of Director/Writer Armando Iannucci’s The Thick of It, right down to the Scottish swearing. Just about everyone here is (as in history) an abhorrent cog in a genocidal totalitarian state, and it’s a pleasure to see them sink knives (rhetorical and otherwise) into each other.

    Beria, the nastiest of the nasty, overplays his hand and succeeds in uniting the others against him, for a bloody, satisfying end.

    Certain liberties have been taken, as historically there were more than nine months between Stalin’s death and Beria’s execution. But The Death of Stalin is faithful to the spirit of the thing, if not the letter.

    All in all, this is a hilarious black comedy, and the best film about communism since The Lives of Others.

    China’s Demographics: Even Worse Than You Think

    Thursday, June 29th, 2023

    I’ve covered Peter Zeihan videos on China’s crashing demographics before. We already knew China was “the fastest aging society in human history, with the largest sex imbalance in human history.” Now he’s dug into new some new data.

    It’s much worse than he thought.

  • “We’ve gotten some new data out of the Chinese that has made it way to the U.N, and so the updates have allowed us to update our assessment, and oh my God, it’s bad.”
  • “Here is the new data, and as you can see, the number of children who are under age 5 has just collapsed, and they’re now roughly twice as many that are age 15 as age 5.”
  • “What happened back in 2017, well before Covid, is that we had a sudden collapse in the birth rate, roughly 40% over the next five years among the Chinese, the ethnic Han population, and more than 50 percent among a lot of the minorities. And that is before Covid, which saw anecdotally the birth rate drops considerably more.”
  • “We’re never going to get good data on death rate, or at least not anytime soon, because the Chinese, when they did the reopening, just stopped collecting the data on deaths and Covid and everything because they didn’t want the world to know how many Chinese died, so they don’t know.”
  • And if you look at the data from the Shanghai Academy of Science, it’s even worse than the official state numbers.
  • “China aged past the point of demographic no return over 20 years, ago and it wasn’t just this year that India became the world’s most populous country, that probably happened roughly a decade ago. And it wasn’t in 2018 that the average Chinese aged past the average American, that was probably roughly in 2007 or 2008.”
  • “This is not a country that is in demographic decay, this is a country that is in the advanced stages of demographic collapse. And this is going to be the final decade that China can exist as a modern industrialized nation state, because it simply isn’t going to have the people to even try.”
  • “Labor costs you’re having now or as low as they’re ever going to be. Consumption is as high as it’s ever going to be.”
  • “So even before you consider the political complications or issues with operating environment or energy access or geopolitical risk or regulational risk, the numbers just aren’t there anymore so you have to ask yourself why you’re still there.”
  • Add to that the fact that China economy is probably overstated by 60%, and it looks like China’s brief days in the sun are already over.

    China’s Targeted Espionage Continues Apace

    Sunday, May 14th, 2023

    With all that’s going on, it’s easy to forget that China’s “Thousand Talents” program of systematic industrial espionage continues apace.

    While China has attempted to steal trade secrets in semiconductors, aerospace and biotech, their espionage also has far more prosaic targets. Here’s the interrogation of a woman who stole the secret formula for the chemical lining inside a Coke can:

    Dr. Xiaorong You, aka Shannon You, was just sentenced to serve 168 months in prison.

    According to court documents and evidence presented at trial, You stole valuable trade secrets related to formulations for bisphenol-A-free (BPA-free) coatings for the inside of beverage cans. You was granted access to the trade secrets while working at The Coca-Cola Company in Atlanta, Georgia, and Eastman Chemical Company in Kingsport, Tennessee. The stolen trade secrets belonged to major chemical and coating companies, including Akzo-Nobel, BASF, Dow Chemical, PPG, Toyochem, Sherwin Williams, and Eastman Chemical Company, and cost nearly $120,000,000 to develop.

    You stole the trade secrets to set up a new BPA-free coating company in China. You and her Chinese corporate partner, Weihai Jinhong Group received millions of dollars in Chinese government grants to support the new company. Documents and other evidence presented at trial, showed You’s intent to benefit not only Weihai Jinhong Group, but also the governments of China, the Chinese province of Shandong, and the Chinese city of Weihai, as well as her intent to benefit the Chinese Communist Party.

    If China can steal something, they will steal something. Design your corporate security appropriately.

    China’s Slacker City

    Saturday, May 6th, 2023

    Remember how a bunch of young Chinese just decided to give up and let it rot? Recently, a whole bunch of them have decided to make Dali in Yunnan Province their own slacker city.

    Takeaways:

  • “Recently a city has become popular because it has been occupied by young people who want to lie flat. It’s Dali, a historical and cultural city in Yunnan province, southwest China, with a population of about 650,000. It has few factories in the area, and tourism accounts for a large share of the municipality’s revenue.”
  • It’s built around a large lake.
  • “A few video bloggers who are secondary landlords in Dali city claim that an army of 100,000 people lying flat have gathered and have occupied the city.”
  • “Here 350 yuan a room per month.” That’s a bit over $50.
  • “The cost of living in Dali is 8,000 Yuan a year. That is $1,162.”
  • “Young people [in China] see no hope for their future and choose to lie down. Their motto is no buying a home, no car, no marriage, no baby, no consumption.”
  • Chinese woman: “It isn’t that I don’t want to have children. I can’t afford it. Housing is so stressful! Without a home, I’m afraid to get married. The cost of having a baby is high. There’s no money or time to raise them, and women’s work is easily affected by childbirth.” All things that help contribute to China’s disasterous demographics.
  • “I’m a leek. I resigned myself to my fate, but I won’t drag a child down to this mess.” “Leek” was a buzzword five or six years ago for someone the Chinese government regarded as a disposable worker/consumer. Sort of like “cog in the machine.”
  • “Before the lying flat people converged on the city of Dali, it had already become a gathering place for digital nomads,” i.e. people who can work remote jobs from anywhere with a decent Internet connection.
  • For the past 20 years, the professional software engineer has been synonymous with young and rich in China. They’re the 996th Generation, who work from 9 AM to 9 PM, 6 days a week, sacrificing their health, but also enjoying the dividends of China’s dotcom boom over the last 20 years. But now China’s Internet industry has entered an era with State-Owned Enterprises (SOEs) in, private companies out, where even big tech companies are being nationalized. The overall economy is slowing down, regulatory bans are proliferating, and the epidemic is exacerbating this trend. Engineers are at increased risk of losing their jobs, and their income and benefits are reduced from time to time. Engineers who have lost their jobs will join the ranks of those who are lying flat. They usually have nothing to do, spending most of their time on the internet playing games and chatting, consuming two packs of instant noodles a day.

  • “The employment market in Shanghai is very bad right now…what is scary is that there are no jobs for you to work again. Private companies are closing their doors, going bankrupt.”
  • As always, it’s hard to determine just how widespread “lying flat” is among young Chinese. If the videos are anything to go by (a big “if”), they all seem considerably cleaner and better behaved that America’s ranks of tent-dwelling, drug-addicted transients. And many seem to be actually renting space for their tents.

    At 9:50 in, you see that cyberpunk dystopian scene of hundred of young video blogger “hosts” broadcasting from their own tiny spaces under a bridge. “Why are there so many young people in China working as online hosts? It’s not that it’s glamorous, it’s more of a helpless attempt under the current job hunting predicament.” Supposedly this happens in multiple Chinese cities, though evidently streaming locally in rich areas like Shanghai brings higher “tips.”

    What a life…

    Observing 2023 Victims of Communism Day

    Monday, May 1st, 2023

    Today is May 1st, which means that once again it’s time to observe Victims of Communism Day, remembering that a false, brutal ideology killed over 100 million people.

    VictimsofCommunismDay

    Here’s Jordan Peterson on the crimes of communism:

    If you want a candidate for the sin against the holy ghost in the 21st century, the statement “communism, real communism, was never tried” with the underlying idea that if you had been the person implementing it, it would have worked, I think that’s a pretty good contender for something for which you should never be forgiven.

    Here’s a list of memorials to the victims of communism.

    More information on the Holodomor can be found in Robert Conquest’s The Harvest of Sorrow: Soviet Collectivization and the Terror-Famine. Conquest estimated that for the entire Collectivization/”De-Kulakization”/Holodomor period (including the Soviet suppression of the Kazakhs and the Crimean Tartars, etc.) some 14.5 million died due to the actions of the Soviet government.

    I know that November 7 is also designated as Victims of Communism Day, but the crimes of communism are so vast that there’s no reason we can’t observe Victims of Communism Day twice a year.

    LinkSwarm For March 17, 2023

    Friday, March 17th, 2023

    Another packed week with no time for a big LinkSwarm!

  • “Biden Family Members Paid by Chinese Firm with Ties to CCP.”

    A Chinese company based out of Hong Kong which paid at least $3 million to several members of the Biden family has since been revealed to have ties with the ruling Chinese Communist Party (CCP).

    According to the Daily Caller, State Energy HK Limited sent $3 million via wire transfer to Robinson Walker LLC, a company run by an associate of the Biden family named John Robinson Walker. The wire transfer took place in March of 2017, shortly after Joe Biden’s term as Vice President came to an end, according to a report released on Thursday by the House Oversight Committee.

    One of the direct subsidiaries of State Energy HK is State Energy Group International Assets Holdings Limited (SEIAH). At the time of the wire transfer, SEIAH’s chairman was Ren Qingxin, who previously worked for the CCP as a representative at a business organization.

    Shortly after the $3 million transfer, Ren was succeeded in his leadership position by Lei Donghui, who had been a member of the CCP since 2002, where he served as Secretary General of the International Engineering Business Bureau of China State Construction (CSC). CSC has since been designated by the Department of Defense as a “Communist China military company.”

    Subsequently, the $3 million sent to Robinson Walker was then transferred to four different members of the Biden family: Joe Biden’s son Hunter, brother James, daughter-in-law Hallie, and a fourth unidentified family member, the Oversight Committee reports. The transfers were sent in several transactions, both to the family members directly and to several of their companies, including Owasco PC, JBBSR Inc, and RSTP II, LLC.

    The previously-unknown involvement of Hallie – the widow of Biden’s elder son Beau, who later became Hunter’s girlfriend after Beau’s death – has proven to be one of the biggest bombshells yet in the GOP’s investigations into Biden family corruption.

  • Arrest Warrant Issued For President Putin By Hague-Based ICC.” Maybe ICC can hire Dog the Bounty Hunter…
  • Truth:

    (Hat tip: Not The Bee.)

  • DeSantis administration revokes Hyatt Regency Miami alcohol license after it hosted “A Drag Queen Christmas” in front of children.
  • Dutch Farmer’s Party poised to win 16 or 17 seats in parliament thanks to opposing that country’s mad global warming anti-meat mandates. “The Boer-Burger Beweging (BBB), or Farmer-Citizen Movement, is set to become the largest party in the country’s senate, winning more seats than Prime Minister Mark Rutte’s ruling conservative VVD party.”
  • Baltimore Democrats want to decriminalize murder for anyone under age 25. Evidently they’re jealous that New Orleans took their crown as murder capital…

  • Red Guards come to Maine. “Kristen Day said students affiliated with one of RSU 14’s Civil Rights Teams harassed her daughter. When her daughter refused to speak about her sexuality, two students affiliated with the club began to bully her and call her homophobic.” (Hat tip: Stephen Green at Instapundit.)
  • Oklahoma State Rep. Regina Goodwin: “‘DEI’ as in ‘deity.’ Diversity, Equity, and Inclusion is god!”
  • Roy McGrath, the ex-Chief of Staff for former Maryland Governor Larry Hogan, is evidently still on the run after an indictment on wire fraud charges. (Hat tip: Dwight.)
  • Eric Weinstein on Joe Rogan about what really happened with Kayne West. He suggests that West’s Hitler comments were simply him trying to channel Thomas à Kempis.
  • Tiger Woods’ girlfriend is told to pack for a short vacation…at which point he locks her out of his mansion and said she’s not allowed to return. Cold. Also effective.

    Cue up the Bill Burr rant about “gold digging whores.”

  • The first rule of cemetery machete fight club is you don’t talk about cemetery machete fight club. The second rule is you don’t drive over the headstones.
  • Man lives in a tiny house in a dumpster in London. Sadly, his name’s not Oscar.
  • Cockatootle doo.
  • The Nightmare Before St. Patrick’s Day.
  • LinkSwarm for March 3, 2023

    Friday, March 3rd, 2023

    In addition to getting over a cold, I spent most of the non-work day trying to assemble a pressure washer so I could attach a water-jetting attachment so I can clean out a blocked exterior line so I can run my dishwasher without it overflowing my sink.

    The result of all this labor is that I still need to call a plumber. So enjoy yet another abbreviated LinkSwarm.

  • Hmmmmmm! “Hunter Biden Business Partner Flips, Now ‘Cooperating’ With GOP Investigators.”

    Eric Schwerin, a close business associate of Hunter Biden who also dealt with Joe Biden’s business and tax affairs, is now working with House GOP investigators looking into Biden family dealings – particularly in Ukraine and China, where the family collected millions of dollars, Just the News reports.

    Eric Schwerin, a close business associate of Hunter Biden who also dealt with Joe Biden’s business and tax affairs, is now working with House GOP investigators looking into Biden family dealings – particularly in Ukraine and China, where the family collected millions of dollars, Just the News reports.

    “He is cooperating with us,” House Oversight and Accountability Committee Chairman James Comer (R-KY) told the outlet.

    “His attorneys and my counsel are communicating on a regular basis. Now, I feel confident that he’s going to work with us, and provide us with the information that we have requested,” Comer continued. “I think that Schwerwin is going to be a very valuable witness for us in this investigation.”

    Of note, Schwerin, the former president of Hunter Biden’s now-dissolved investment firm Rosemont Seneca Partners, visited the White House at least 19 times from 2009 to 2015, according to White House visitor log records reviewed by The Epoch Times and first reported by the New York Post.

  • Chicago’s massively incompetent Democratic mayor Lori Lightfoot defeated for reelection.
  • “Lori Lightfoot Blames Election Loss On ‘Tricksy Hobbitses.’
  • The Democratic Party’s war on natural gas continues apace. (Hat tip: Director Blue.)
  • Patrick L. Wojahn, the Democratic mayor of College Park, MD, resigns over child porn charges. Name that party: His political affiliation only shows up in the 19th paragraph of the piece. (Hat tip: Dwight.)
  • “Russia’s Latest Advance on Vuhledar Fails After 12 Seconds.”
  • Fruit and vegetable shortage hits the UK.
  • Illnesses to Democratic senators Dianne Feinstein and John Fetterman mean that Democrats have temporarily lost their senate majority. That will teach you to rely to Octagenerians and visibly impaired stroke victims to carry your water. (Hat tip: Stephen Green at Instapundit.)
  • Pakistan swears it won’t default on it’s debt.

  • SUV struck by lasers. And by lasers, I mean a minigun. Watch the video.
  • Cuba facing shortages of just about everything. Communism will do that for you. (Hat Tip: The Other McCain.)
  • Fully automated, 100 ton, container-moving robots.
  • Baltimore police chase ends in building collapse.
  • “Rockets owner Tilman Fertitta submits $5.5 billion bid for NFL’s Commanders.” He should move them to Austin and change the name back to the Redskins, just to spite them.
  • Breakfast Bitch convicted of interstate wire fraud.
  • Did MacKay get Tulipmania wrong? It turns out he was also an enthusiast for the far more destructive “Railway Bubbles” that struck England in the 19th century.
  • Man, the pollen in Texas is just brutal this time of year. (Hat tip: Ace of Spades HQ.
  • God Confirms Heaven Will Have A Buc-ee’s.
  • Dear Chinese Workers in 2023: Sucks To Be You

    Monday, February 27th, 2023

    It turns out that having your ruling party alienate the entire world with a genetically engineered plague, rampant human rights abuse and widespread intellectual property theft is not conducive to continued economic success. Who knew?

    Hence comes the hashtag #SaveTheBoss, i.e. the company needs to survive to save jobs. I assume there’s more than a little irony to the tag, given how badly conditions suck in so many Chinese factories. .

    Takeaways:

  • “In the first half of 2022, 460,000 companies announced their closure, and 3.1 million self-employed people have canceled their business.”
  • “It’s hard to be a boss this year. All industries are in decline. In order to maintain the factory, profits have to be squeezed and squeezed. Many have even accepted orders with zero profit outright. The purpose is simply to keep the cash flowing.”
  • “According to data released by China’s General Administration of Customs, China’s exports fell 9.9 percent year on year in December 2022, widening the decline from 8.7 percent in November and marking the biggest drop since February 2020.” And those are the official numbers. It’s almost certainly worse.
  • “The once congested roads in this major terminal in Guangdong Province, and also in the Pearl River delta region, are now empty. Trucks are parked all over the parking lot, reflecting how depressed the foreign trade export industry is.”
  • “The Chinese government is carefully covering up the situation of its major economic regression, so it isn’t easy to tell from the statistics how serious the situation is.” But employers think it’s really bad.
  • “I heard that four or five factories are closing down here every day.”
  • Foreign companies are pulling out as well. “500 European companies have already moved to Singapore to set up their headquarters.”
  • Workers are returning from their Chinese New Year vacations only to find their factories shut down owing them back wages.
  • “At least 80,000 to 100,000 people are stranded in Suzhou, and there are probably more than 200,000 workers in the whole Yangtze River delta who are looking for work.”
  • “If someone promises to work in an electronics factory for 30 RMB, that is 4.3 USD an hour, don’t believe it. It’s all a lie.”
  • “Just after the Chinese New Year, the labor prices are dropping like an avalanche.”
  • And more foreign companies are pulling out of the country, like Toshiba, Microsoft and Panasonic.
  • “4.6 million factories are without orders.” I’ve got to think some of those “factories” have to be pretty small.
  • American capital firms are planning to pivot to Europe for foreign growth.
  • “The largest wave of unemployment in the history of CCP country is here.”
  • Many Chinese business owners are mystified by this drop in foreign orders.
  • Here’s a hint: Your crooked commie rulers acted like the biggest jerks in the world and everybody got tired of it. You reap what you sow…