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(Marketwatch)   China's manufacturing activity hits its highest level in July in more than nine years even as export demand remained in "contraction territory." Xi's so enigmatic   (marketwatch.com) divider line
    More: Followup, Manufacturing, private gauge of China, Supply and demand, China's official manufacturing PMI, much larger sample, Total new orders, manufacturing activity rose, highest level  
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206 clicks; posted to Business » on 03 Aug 2020 at 10:34 AM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



19 Comments     (+0 »)
 
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2020-08-03 9:08:13 AM  
Interesting, assuming you can trust China's numbrrs.
 
2020-08-03 9:15:40 AM  
If I'm reading that right, orders are up across the board, both export and domestic, but despite the gains, the export side is still down year over year.

Since the factories are going at record pace, it stands to reason that domestic demand has significantly increased. Jumps in demand like that are rarely organic, and are often driven by drops in other areas, which considering we're taking about domestic consumption, means they are likely importing less stuff.

Sounds like China will be fine, but any company or country that counts on exporting to China may be in for a significant downturn.
 
2020-08-03 10:10:29 AM  

Private_Citizen: Sounds like China will be fine, but any company or country that counts on exporting to China may be in for a significant downturn.


Once China is able to do this, it will also likelyt signal the end of the dollar as the reserve currency and our National Debt will become OMG HOLY SH*T territory.
 
2020-08-03 10:28:27 AM  

NewportBarGuy: Private_Citizen: Sounds like China will be fine, but any company or country that counts on exporting to China may be in for a significant downturn.

Once China is able to do this, it will also likelyt signal the end of the dollar as the reserve currency and our National Debt will become OMG HOLY SH*T territory.


I wouldn't worry too much about foreign debt. It's denominated in US dollars. Expect some inflation, in the coming years.

(Still better than deflation and a depression).
 
2020-08-03 10:38:38 AM  
And if you believe any economic statistics coming from China, I have a bridge to sell you.  And an app.  And a few shiploads of melamine soybean meal.
 
2020-08-03 10:46:02 AM  

FrancoFile: And if you believe any economic statistics coming from China, I have a bridge to sell you.  And an app.  And a few shiploads of melamine soybean meal.


Depends. No obvious propaganda purpose, it's probably true.
The Chinese aren't psychos like Trump - they don't lie about everything for lying's sake.
 
2020-08-03 10:46:14 AM  

Private_Citizen: NewportBarGuy: Private_Citizen: Sounds like China will be fine, but any company or country that counts on exporting to China may be in for a significant downturn.

Once China is able to do this, it will also likelyt signal the end of the dollar as the reserve currency and our National Debt will become OMG HOLY SH*T territory.

I wouldn't worry too much about foreign debt. It's denominated in US dollars. Expect some inflation, in the coming years.

(Still better than deflation and a depression).


I'm more worried about the rather large sum of it that we owe to Social Security.
 
2020-08-03 10:50:06 AM  

jso2897: FrancoFile: And if you believe any economic statistics coming from China, I have a bridge to sell you.  And an app.  And a few shiploads of melamine soybean meal.

Depends. No obvious propaganda purpose, it's probably true.
The Chinese aren't psychos like Trump - they don't lie about everything for lying's sake.


I'm sorry, I just laughed so farkin' hard I pissed myself.

If you really honestly believe that shiat, I've got some nice beachfront property in Otisburg to sell you.  Cheap!
 
2020-08-03 10:51:13 AM  
Thank God. I'm so glad they'll be okay after infecting the entire world.
 
2020-08-03 10:55:28 AM  

NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: Sounds like China will be fine, but any company or country that counts on exporting to China may be in for a significant downturn.

Once China is able to do this, it will also likelyt signal the end of the dollar as the reserve currency and our National Debt will become OMG HOLY SH*T territory.

I wouldn't worry too much about foreign debt. It's denominated in US dollars. Expect some inflation, in the coming years.

(Still better than deflation and a depression).

I'm more worried about the rather large sum of it that we owe to Social Security.


SS tax rate cuts out at roughly 138k. Every dollar above that is tax free. And most forms of investment income (capital gains, bonds, dividends, rental income, etc) are completely untaxed. The majority of the money in this country is earned by people who are exempt from paying SS tax.

Want to fix SS, remove some of those exemptions.
 
2020-08-03 11:00:31 AM  

Private_Citizen: NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: Sounds like China will be fine, but any company or country that counts on exporting to China may be in for a significant downturn.

Once China is able to do this, it will also likelyt signal the end of the dollar as the reserve currency and our National Debt will become OMG HOLY SH*T territory.

I wouldn't worry too much about foreign debt. It's denominated in US dollars. Expect some inflation, in the coming years.

(Still better than deflation and a depression).

I'm more worried about the rather large sum of it that we owe to Social Security.

SS tax rate cuts out at roughly 138k. Every dollar above that is tax free. And most forms of investment income (capital gains, bonds, dividends, rental income, etc) are completely untaxed. The majority of the money in this country is earned by people who are exempt from paying SS tax.

Want to fix SS, remove some of those exemptions.


We owe about $10 Trillion to the fund already... I'm not exactly sure how we'd cover that at this point.
 
2020-08-03 11:14:44 AM  

NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: Sounds like China will be fine, but any company or country that counts on exporting to China may be in for a significant downturn.

Once China is able to do this, it will also likelyt signal the end of the dollar as the reserve currency and our National Debt will become OMG HOLY SH*T territory.

I wouldn't worry too much about foreign debt. It's denominated in US dollars. Expect some inflation, in the coming years.

(Still better than deflation and a depression).

I'm more worried about the rather large sum of it that we owe to Social Security.

SS tax rate cuts out at roughly 138k. Every dollar above that is tax free. And most forms of investment income (capital gains, bonds, dividends, rental income, etc) are completely untaxed. The majority of the money in this country is earned by people who are exempt from paying SS tax.

Want to fix SS, remove some of those exemptions.

We owe about $10 Trillion to the fund already... I'm not exactly sure how we'd cover that at this point.


Not to get too far off track from China, until recently SS ran an excess, meaning the tax was greater than the payouts. The excess has been put into the trust fund. Regardless of your feelings on the trust fund and how much you can count on it, if it were gone tomorrow, taxes still cover 79% of the payouts. So, removing or raising the cap on SS tax, or (more effectively) removing the exemptions on investment income would more than close the gap (and likely generate an excess that the government would again borrow).
 
2020-08-03 11:19:51 AM  

Private_Citizen: NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: Sounds like China will be fine, but any company or country that counts on exporting to China may be in for a significant downturn.

Once China is able to do this, it will also likelyt signal the end of the dollar as the reserve currency and our National Debt will become OMG HOLY SH*T territory.

I wouldn't worry too much about foreign debt. It's denominated in US dollars. Expect some inflation, in the coming years.

(Still better than deflation and a depression).

I'm more worried about the rather large sum of it that we owe to Social Security.

SS tax rate cuts out at roughly 138k. Every dollar above that is tax free. And most forms of investment income (capital gains, bonds, dividends, rental income, etc) are completely untaxed. The majority of the money in this country is earned by people who are exempt from paying SS tax.

Want to fix SS, remove some of those exemptions.

We owe about $10 Trillion to the fund already... I'm not exactly sure how we'd cover that at this point.

Not to get too far off track from China, until recently SS ran an excess, meaning the tax was greater than the payouts. The excess has been put into the trust fund. Regardless of your feelings on the trust fund and how much you can count on it, if it were gone tomorrow, taxes still cover 79% of the payouts. So, removing or raising the cap on SS tax, or (more effectively) removing the exemptions on investment income would more than close the gap (and likely generate an excess that the government would again borrow).


Riiiight... problem is that the Government has been funding the current account by stealing $500,000,000,000 from it every year. If you stopped that, they'd have to not only replace the $10 trillion they already took (because we don't have an excess anymore, but you'd have to plug that half trillion hole they used for current account debt.

In short, we don't have the money, at all to cover any of this shiat. Even if we raised the lifted the caps and raised taxes.

We're f*cked.
 
2020-08-03 11:23:32 AM  
Have they recovered the thousands of mobile phone accounts that disappeared in the early days of Covid?
 
2020-08-03 11:27:52 AM  
China's entire end goal appears to be to make themselves entirely self sufficient, and then just make extra money selling stuff to the rest of the world. They seem to be doing rather well in this regard.

It'll also be really scary when they do succeed. Think they're throwing their weight around now? Imagine what they'll be like when there's basically no leverage against them.
 
2020-08-03 11:36:37 AM  
SuPPly sIeD EkOnoMiKs!!!11!
 
2020-08-03 12:00:01 PM  

NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: Sounds like China will be fine, but any company or country that counts on exporting to China may be in for a significant downturn.

Once China is able to do this, it will also likelyt signal the end of the dollar as the reserve currency and our National Debt will become OMG HOLY SH*T territory.

I wouldn't worry too much about foreign debt. It's denominated in US dollars. Expect some inflation, in the coming years.

(Still better than deflation and a depression).

I'm more worried about the rather large sum of it that we owe to Social Security.

SS tax rate cuts out at roughly 138k. Every dollar above that is tax free. And most forms of investment income (capital gains, bonds, dividends, rental income, etc) are completely untaxed. The majority of the money in this country is earned by people who are exempt from paying SS tax.

Want to fix SS, remove some of those exemptions.

We owe about $10 Trillion to the fund already... I'm not exactly sure how we'd cover that at this point.

Not to get too far off track from China, until recently SS ran an excess, meaning the tax was greater than the payouts. The excess has been put into the trust fund. Regardless of your feelings on the trust fund and how much you can count on it, if it were gone tomorrow, taxes still cover 79% of the payouts. So, removing or raising the cap on SS tax, or (more effectively) removing the exemptions on investment income would more than close the gap (and likely generate an excess that the government would again borrow).

Riiiight... problem is that the Government has been funding the current account by stealing $500,000,000,000 from it every year. If you stopped that, they'd have to not only replace the $10 trillion they already took (because we don't have an excess anymore, but you'd have to plug that half trillion hole they used for current account debt.

In short, we don't have the ...


As a person who will never see any of the money that I've put in to the fund. I say let it fail. Then let me put the money on the open market, in much of the same mandated way that SS was, so that at least I know what I'm getting, instead of hoping this promise made in the dark holds true.

There is zero reason that I need to hope that the fund will still be there in 30+ years or whenever my body breaks and I have to retire. Lord knows I wont be able to do it before then. And I will be royally farked when that happens.

SS is a relic and needs to be replaced. Do not try to fix it, DC has made certain that it is FUBAR. replace it with something that more reflects the current situation.
 
2020-08-03 1:07:06 PM  

NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: NewportBarGuy: Private_Citizen: Sounds like China will be fine, but any company or country that counts on exporting to China may be in for a significant downturn.

Once China is able to do this, it will also likelyt signal the end of the dollar as the reserve currency and our National Debt will become OMG HOLY SH*T territory.

I wouldn't worry too much about foreign debt. It's denominated in US dollars. Expect some inflation, in the coming years.

(Still better than deflation and a depression).

I'm more worried about the rather large sum of it that we owe to Social Security.

SS tax rate cuts out at roughly 138k. Every dollar above that is tax free. And most forms of investment income (capital gains, bonds, dividends, rental income, etc) are completely untaxed. The majority of the money in this country is earned by people who are exempt from paying SS tax.

Want to fix SS, remove some of those exemptions.

We owe about $10 Trillion to the fund already... I'm not exactly sure how we'd cover that at this point.


Why do you think the federal government let Covid-19 run wild?
 
2020-08-03 4:42:23 PM  
Christmas trees (fake), lights, ornaments, inflatables and decorations aren't going to make themselves.
 
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