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It's always struck as curious the way capitalists (at least nominally so) put their faith in a...

It's always struck as curious the way capitalists (at least nominally so) put their faith in a group of Beijing Mandarins to guide the Chinese economy into just the right spot. Goldman's Paul O'Neill describes the government's muted response to the severe growth slowdown as maybe a clever way of achieving the vaunted rebalancing of the economy. (latest PMI data)
Comments (5)
  • Goldman Sachs Asset managers and their fellow bankers aren't even nominal capitalists- they're fascist parasites in practice and nascent oligarchs at heart, which explains their fondness for China's oligarchs. It's no surprise at all that they applaud the central planners, since they aspire to the same station (q.v. Geithner, Paulson, et. al.).
    2 Sep 2012, 10:05 AM Reply Like
  • "Beijing Mandarins to guide the Chinese economy into just the right spot."

     

    And things are any different in the USA or EU? Doesn't this decribe the FED and ECB?

     

    Give me a break.
    2 Sep 2012, 10:52 AM Reply Like
  • wyo,
    Yep, it's pretty much the same everywhere. It 's just that in the USA or EU, they pretend to accomplish central control and wealth transfer by writing laws that purport to let them do what the Chinese just go ahead and do by edict.
    2 Sep 2012, 01:02 PM Reply Like
  • UI
    Agree. At least the Chinese are honest about what they doing.
    2 Sep 2012, 01:17 PM Reply Like
  • Exactly. Governments choose winners and losers in business. The only differences are how overt they do that, or the details behind the choices.
    2 Sep 2012, 03:40 PM Reply Like
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