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Paul B. Farrell
Sept. 14, 2010, 12:01 a.m. EDT · Recommend (3) · Post:
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By Paul B. Farrell, MarketWatch
ARROYO GRANDE, Calif. (MarketWatch) -- Goldman's "ultimate goal is hunting and killing China," warns Li Delin, the Chinese author of "The Goldman Sachs Conspiracy," a bestseller in China.
Li is not as visually dramatic as Matt Taibbi's Rolling Stone picture of Goldman as a "great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money." But Li's Chinese readers love his "Goldman Sachs knows when to go for your neck" like a "Manchurian tiger."
Ren Zhiqiang, chairman of Hua Yuan Property Co. and one of China's most outspoken real estate tycoons, explains why he criticizes the Communist Party and what it takes to attract two million followers to a Chinese microblog.
But is the Goldman Conspiracy really a threat to China? That's a joke, right?
It's the exact opposite. In fact, it should be obvious that China is actually a "great vampire squid wrapped around the face of Goldman, relentlessly jamming its blood funnel into anything that smells like Goldman's capital, talent and connections."
Then, eventually, in a generation, by 2040, China will suck the life out of Goldman. At the same time, back here stateside, China must be quietly cheering as America's "bloodsucking vampire squid" sucks the life out of our capitalism and democracy, as the Goldman Conspiracy's insatiable greed aggressively sabotages America from within.
Get it? China is very effectively using the out-of-control Goldman Conspiracy greed machine as a vital weapon in China's two-pronged global strategy against America, over in China and back here in America. And tragically, Goldman's insatiable greed is so blinding that Goldman has lost the ability to see the long-term consequences of its sad un-American behavior.
Today, the Goldman Conspiracy is America's unfortunate Black Swan, a Trojan Horse helping our enemy abroad, undermining our economy back home.
All this became obvious while reading the Foreign Policy Journal. Earlier this year Nobel economist Robert W. Fogel of the University of Chicago published a feature article in Foreign Policy titled: "$123,000,000,000,000: Why China's Economy Will Grow to $123 Trillion by 2040."
It's crucial to see why China is so successful, so prosperous while Americans are trapped in a paranoid self-destructive culture, why we're blinded, virtually incapable of thinking outside a box that's projecting years of high unemployment ... as our suicidal war economy continues eating up roughly 50% of our tax dollars ... as our ideological battles dig us deeper into debt ... as our press keeps distracting us, focusing narrowly on self-serving warmongering wingnuts ... as the actions of partisan leaders irresponsibly and unconsciously aid and abet China's grand strategy to replace America as the world's economic superpower ... and as the Goldman Conspiracy sabotages us from within.
Read this and weep, or get mad as hell: By 2040, in just one generation, 30 years, here's how Fogel sees the rapidly emerging new world order, with China as the world's sole superpower economy and America a distant second, a has-been on the global stage, thanks in part to the Goldman Conspiracy and its influence on so many bad decisions in recent years. Fogel warns:
"In 2040, the Chinese economy will reach $123 trillion, or nearly three times the economic output of the entire globe in 2000. China's per-capita income will hit $85,000, more than double the forecast for the European Union, and also much higher than that of India and Japan. In other words, the average Chinese megacity dweller will be living twice as well as the average Frenchman when China goes from a poor country in 2000 to a superrich country in 2040.
"Although it will not have overtaken the United States in per-capita wealth, according to my forecasts China's share of global GDP -- 40% -- will dwarf that of the United States (14%) and the European Union (5%) 30 years from now. This is what economic hegemony will look like" by 2040.
Yes, in one generation China's economy will be almost three times bigger than America's economy while our kids, the next generation of Americans, will still be digging out of the war deficits we've been piling on since 2000.
Fogel sees six reasons America will lose in this race with China:
Paul Farrell writes the column on behavioral economics. He's the author of nine books on personal finance, economics and psychology, including "The Millionaire Code," "The Winning Portfolio," "The Lazy Person's Guide to Investing." Farrell was an investment banker with Morgan Stanley; executive vice president of the Financial News Network; executive vice president of Mercury Entertainment Corp; and associate editor of the Los Angeles Herald Examiner. He has a Juris Doctor and a Doctorate in Psychology.
Hewlett-Packard Co. made another pricey acquisition Monday, giving rise to concerns that -- without a CEO -- financial discipline at the tech giant is fading.
11:59 a.m. Sept. 13, 2010 | Comments: 12
- Longshorn | 12:01 a.m. Today12:01 a.m. Sept. 14, 2010
"'Goldman Conspiracy' helps China beat U.S. http://on.mktw.net/dnGQYL" 11:26 p.m. EDT, Sept. 13, 2010 from MKTWFarrell
"Seven lean years: No recovery till 2016 http://on.mktw.net/9xCFc6" 11:21 p.m. EDT, Aug. 30, 2010 from MKTWFarrell
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