短文引起了大家的关注，感谢！ good99：很清楚，从国家角度来讲，全球化最大的受益国当然是中国，所以中国的官僚资本阶层已经与美国共和党形成了紧密的联盟和利益共同体，正如老毛所说：“我们共产党一直喜欢共和党”。。。。。。 傻子6：全球化使我们新移民的境况大大恶化了，这是我们最不愿看到但每日正在发生的。美国梦啊美国梦，梦破醒来是早晨！ PH：您的分析十分清醒而有条理，我同意" The potential of each country is determined by its natural resources, manpower and brain power."但我担心的是美国即使有了新发明和新创造，对于中下层人民就业会否有帮助？未来的高科技不需要很多劳动力，仅有的工作机会马上全球化掉了。怎么办？ kcho1348：感谢你为我们揭示金融危机后仍然严重存在的杠杆化作业，看来奥巴马提出金融业监管确实刻不容缓，因为银行家已经玩杠杆上瘾了。只怕国会里又将开始下一轮交易，把监管条文最后弄成“温吞水”。
The problem is the corruption in the ruling classes, the upper echelon in America.
I work for a major investment banker and here is the deal:
To open an account through the British Virgin Islands (BVI) financial services Commission, one only needs to wire 500 bucks a year to the registrar to keep a "good standing" and $1,500 to $3,000 to a lawyer called a "Registered Agent".
Under BVI law, the company reporting requirements are limited to the name of the company, year of incorporation, company number, and registered agent. Under law, the company's directors, shareholders, employees, financial statements, what they do, and where they do it are completely secret.
An entity may register and do business anywhere in the world, except where the company is registered. It is estimated by the Suisse that most of the 70 trillion in Credit Default Swaps originated from companies in the Caribbean.
A company called "ABC Offshore Ltd" can place bets on financial vehicles defaulting and get "insurance on the failure", and the only thing the desk manager knows is that when the insured party defaults, the payment gets transferred to a numbered account, which is also secret.
All of these CDS agreements are PRIVATE, and they are all priced in dollars. The short sellers (buyers of CDS "insurance") are secret individuals. You could be a desk manager at Lehman and have an offshore entity placing bets on your "own" company". You can bet 100 times, if you register 100 different companies. Hence the bubble, the PONZI games.....
The architects of subprime are based in the Caribbean, but you will never identify them. They sold banks the MBS/CDO (note: MBS is Mortgage Backed Security, CDO is Collateralized Debt Obligations, CDO is a combination of whole bunch of ABS. ABS is Assets Backed Security, such as mortgages, credit card debts, home equity loans) adjust in two years, because they invented the products.
Transparent investors saw the potential risk, but were attracted by high monthly yield spreads. CDS allows for 100 or more bets to be put on the full value of the default policy, far exceeding what the banks have in cash in case of such a default. The amount estimated this month is 12 trillion, which represents more money than Americans have in checking and savings (7 Trillion).
Its unfortunate that these banks also took the 7 trillion of your money and used it as collateral to take out loans in excess of 70 trillion so they could generate 73 trillion in loans....."
Here it is, this is the magic, trillions after tens of trillions of US dollar generated from thin air by hedge funds, derivatives, ABS, MBS, CMBS, CMO, CDO, CBO, CLO, and other subset of structured products in the size of 73 trillion dollars.
My friends, America has too much air.... US is blowing another bubble to cover previous buddle, from Junk bond crisis to savings and loans crisis, to Eron, MCI, Anderson Accounting crisis, to sub-prime crisis, to financial crisis.......
I am going back to my village in JiangSu..... I grow up as a farmer, received all kind of education, work in financial world, and now, I find out the high finance has lots of smoking mirror.........
Good article. I partially agree with you. What I agree you: 1. "很明显，这股把美国工人推向失业的不可阻挡的力量，就是经济的全球化。" There should be a limit of globalization. 2. " 美国的困境，起源于全球化；美国的唯一拯救机会，在于其自身的科技创造力." This is absolutely true.
What I do not agree: "他号称五年内将美国的出口额增加一倍，这个话如果换了中国讲，我坚信不移；现在滑稽的是美国讲要增加出口，任何地球人都会问一句：“凭什么？”难道中国，印度这些出口大国的政府准备将工人的最低工资提高10倍？我看他们没有这么蠢。"
This is the 3rd recession I experienced in the US. Every time, people claims the empire is collasping. And yet, this country re-emerges stronger every time. A recession is painful, but it is a process to clean up the mess and an opportunity to restructure the economic system. Remember in the early 90s, Americans claimed the Japanese would catch up. They never caught up. Why? During that period, US was in a process to convert itself from a manufacturing based system to a service based system. Japan did not do anything to improve its system. look what happaned later.
This time, it is not different. There are problems in the US economic system in the past 10 years: (1) The globalization was over-done. (2) Resources have been concentrated on oil, defense, finance industries. There was not enough investment on newer technologies. As a result, the fortune moves from the middle class to teh super rich class. This did not help teh consume spending. Of course, there came a recession. Not a surprise. On the flip side, this recession forced US to correct these problems. And the corrections are happening.
Never underestimate the creativity of this country. The potential of each country is determined by its natural resources, manpower and brain power. This country is rich in all 3 categories. As long as the resources are concentrated on the right area, US can maintain the leadership for years.
