All at once we see not only confirmation that permanent, near-zero interest rates are a failed policy; but also confirmation that our own near-zero interest rates were
never intended to fix our economies. Instead, they are merely a form of permanent financial triage -- intended solely to prevent the West's criminal, zombie-banks from instantly drowning in an ocean of their own fraudulent bad bets
fraudulent bad bets
Note that even in
The Telegraph's piece of transparent propaganda that it's impossible to hide the real story here:
China's export sector is suffering from anaemic demand from Europe and the United States. In the first seven months, exports rose 7.8pc, while imports rose 6.4pc, leaving China in danger of missing its 10pc target for trade growth this year...
The Telegraph's Chicken Little vainly struggles to incite hysteria over China's economy, the facts leak out. China's only "economic problem" is weakness in the West. Now the propaganda is fully on display.
We're supposed to be "worried" because China's strong, healthy, growing economy may miss its growth targets
due to the economic weakness in the West -- and most notably the U.S.
What is the prescription from the mouthpieces of the Corporate Media? We're all supposed to take our money out of China's strong, healthy, growing economy and move it to a "safe haven."
What is the supposed "safe haven" which the propaganda machine always places at the top of its list
top of the list
? U.S. Treasuries -- the
most overvalued paper
ever produced by the Western banking cabal. With the U.S. already
, this makes the bonds themselves obviously worthless, since the debts can never be repaid.
Yet despite this, Treasuries are priced at their highest level in history. At the same time, these bonds are denominated in U.S. dollars, a currency that U.S. measures would indicate is
Note that the Corporate Media continues to peddle the myth that China's economy is dependent upon exports to the dying economies of the West, despite a
Harvard research paper
, which established that by 2008 China had already ended its export-dependence and become primarily a domestically fueled economy. Meanwhile, the propaganda machine engages in yet another exercise in lying-with-numbers when it talks about the "declining growth rate" of China's economy.
Here we have an economy that had (incredibly) achieved near double-digit economic growth, almost without interruption, for the better part of two decades. This massive, cumulative growth means that China's entire economy has increased in size by several multiples over that period of time. Thus as an obvious matter of arithmetic China's economy would grow as much (in absolute terms) today with a 3% growth rate as it did with 10% growth, more than a decade earlier. Even a 7% growth rate today would indicate a phenomenal rate of growth for an economy of this size.