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What might the troubles of "Sock City" - the Chinese boom town of Datang which last year...
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Sunday, September 9, 2012, 8:42 AM ETWhat might the troubles of "Sock City" - the Chinese boom town of Datang which last year produced about two pairs of socks for every person on earth - say about the rest of the economy? May's collapse of Anli Sock Group - which made 60M pairs annually - may prove to be "the Lehman Brothers of Datang," according to one government economist. "I'm very worried," says a surviving producer. "This year is much worse than 2008-09."
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Logical thought. If you make .25 profit per sock then to make $25,000,000 all you have to do is produce 100,000,000 socks. If your tax base produces 10 trillion dollars, just raise your tax base by 20% and you will produce 12 trillion dollars. Simple, huh? All very logical in academia.
http://bit.ly/QsX0Kf
6 out of 7 Americans are sporting $22 each every month to the 1 out of 7's food stamp benefit.
not getting food stamps and have a family of 4? $88 a month is your family contribution to that 1 out of 7's average of $134 a month benefit.
Of course it's all printed borrowed money so we dont' feel it getting taken from our wallets.
Perhaps not the greatest example but it's quite astounding how much help so many need and are getting in our Country.
I still wear socks and don't consume any less now than in 2008
The Chinese sock makers are discovering what countless other low value manufacturing enterprises have encountered. They need to adapt or die.
Obama Must Be Defeated
P