Understanding China, One Blog at a Time

An American in China

Archive for November 20th, 2011

1% and Why China Better Than USA

Posted by w_thames_the_d on November 20, 2011

Here is a piece of Americana at its worst and shows where China is better than the US. In China the government knows they must create jobs or the masses will revolt and drag the chicoms bloody carcasses through the streets.
But in the US we have this from here:
“. The top 0.1%– about 315,000 individuals out of 315 million– are making about half of all capital gains on the sale of shares or property after 1 year; and these capital gains make up 60% of the income made by the Forbes 400.
It’s crystal clear that the Bush tax reduction on capital gains anddividend income in 2003 was the cutting edge policy that has created the immense increase in net worth of corporate executives, Wall St. professionals and other entrepreneurs.”
(oh btw the pic called ‘tnman freman.png is a shot of a guy who they burnt and hanged in the t.nman event of ’89)

While it is true the Chinese have a horrific income disparity, they hold uncle red s feet to the fire about jobs, a thing we in the land of milk and contaminated Chinese honey, do not do.

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Swill Oil

Posted by w_thames_the_d on November 20, 2011

These things are filled with swill or gutter oil. This is the stuff that according to chinese sources, at least 10% of all meals here are cooked with. The process is nothing less than filtering out the cigarette butts, the bottle caps and chopsticks and then rebottling and selling it. My friends from Sichuan refuse to eat at the restaurants due to fear of this stuff. The funny thing is that the chicoms say they cannot control this stuff, but each night the streets are filled with trucks hauling it around.

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Chinese Buying Face – If You Make $18,000 Year You Buy Luxury Goods

Posted by w_thames_the_d on November 20, 2011

`The excerpt from below comes from here. It says that Chinese are buying tons of luxury goods. Supposedly half of all the gifts they buy are given as bribes, which says a lot about this place. In addition, as you can see below. it says that the Chinese buy the gifts to get face or respect. The bad thing is that half of the gifts are purchased by people who buy US standards are not well off.
I guess you could think that those Chinese you see with Luis Vitton bags are no different than those guys back home who wear all the bling, but live in double-wides or in beaten down houses with a pitbull tied up in the rear and half a dozen cars on blocks in the front as they show their buddies their new grill- dental work, as they pass a spliff…..
From here:
“The survey also found that the average consumption of luxury goods worldwide amounted to only 4% of the total personal wealth, but in China, some consumers, especially young people, allocated 40% or more of personal income to buy luxury goods.

According to the World Luxury Association’s survey, people with incomes above 10,000 yuan (US$1,573) per month account for more than half the total number of luxury good consumers. Further, these consumers’ average age is 15 years younger than European luxury consumers 25 years younger than those in the US. The survey shows that 73% of the brand-name goods consumers in China are under 45; 45% of them are aged 18-34. Of these young consumers, 70% say they only buy luxury goods for the purpose of attracting others’ attention.”

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