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Chinese prisoner’s ID card apparently found in lining of Regatta coat (www.theguardian.com)

submitted 11 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 11 months ago (1 children)

So you simply will not explain your prior argument that if an oversupply is bad then an undersupply must be good, otherwise I am somehow a hypocrite.

My argument is that to say China is doing something better than America with regard to the well-being of it's citizenry is patently false. My examples included Evergrande, which is bankrupt, and the extreme overexposure of the Chinese citizenry to one type of asset which has every reason to tank into the ground because there are fewer and fewer new families being created to buy those properties at the original prices or higher. There is not now and will never be enough demand to keep those properties from depreciating massively.

Undersupply of housing in America is causing problems for new families, BUT:

the US government does not limit the financial freedoms of it's populace to the same degree, not even close, so
overbuilding in the US would not be done with the money of retail investors, but likely with a combination of federal incentives/grants/tax write-offs and private investment funds
therefore, a sudden oversupply of housing in the US would not pose the same problems as it does in China right now

Go ahead and strawman my arguments some more, you're only telling on yourself at this point.

[–] [email protected] 0 points 11 months ago (1 children)

oversupply is bad then an undersupply must be good,

My first statement was "everyone hates everything"

That is people criticize oversupply and undersupply. But it's one of the other. Markets aren't stable. It's why the US subsidizes food to keep the market at oversupply.

You criticized China's oversupply and ignored US's undersupply. Even after you mentioned US's undersupply in a reply, you still only criticized China's oversupply.

overbuilding in the US would not be done with the money of retail investors

The 2008 real estate crash was not planned by the US government. The overbuilding was done with the money of retail investors.

Low income housing projects are subsidized by the government all the time.

My personal hot take is that oversupply is good for workers at the expense of investors. Investors are excess capital looking to make money without producing anything. Workers actually produce. Shifting excess capital from investors to workers is a good thing in the long term.

[–] [email protected] 1 points 11 months ago (1 children)

This is the post I was responding to when you decided to jump in with your spicy bullshit take:

Since Xiaoping’s market reforms, China has nationalized numerous exploitative private companies, decreased working hours to 8 per day, improved working conditions, gotten rid of hundreds of thousands of corrupt officials, purged greedy billionaires like Jack Ma, and built the most extensive high-speed rail and public transport system in the world.

China, with 5x the population of the US, had 121k covid deaths, while the US had 1.2mil. Because the latter prioritizes capital/profit over human lives, while China does the opposite.

These are clearly in the interest of the Proletariat/working class, not the ruling class; China has actively punished the latter.

And all that without overthrowing foreign governments and causing genocides. So how is China even comparable to the US, aside from their economic growth? Has it ever occurred to you that maybe western media tries to show their geopolitical rivals in a bad light, even when they’re objectively better?

I'm not ignoring American undersupply, it's not relevant in this thread, but I have explicitly mentioned it being bad, and you even quoted me that it's bad. You are now being blocked, if not for being a troll then for being so irredeemably stupid there's no point interacting further. Good fucking day.

[–] [email protected] 1 points 11 months ago

I didn't defend that op. I criticized one part of your reply. But you are so angry at China, that they could cure cancer and you'd say it's horrible and America should not do it because all the Pharma investors would lose their money.