On Sep 5, 12:34 pm, Bret Cahill aol.com> wrote:

Cite.

Admittedly, I don't know (but then neither do you). If I were to guess
though I would guess that the gap is increasing in China - and
probably by more than in the USA. It is in fact the very source of the
economic dynamism of China right now that it is allowing people to
become rich, even very rich.

China now has over 100 billionaires vs. only a handful a couple of
years ago. That's vs. the poor in China (mostly peasant farmers of
which there are still 100's of millions) who, even today, are
fortunate to eke out an income of a few hundred dollars a year.
According to ChinaDaily there are over 20million Chinese who earn less
than $100/yr. The official poverty cut-off in the USA by contrast is
over $20,000 (for a family of 4) and only about 12%% of the population
falls into that category.

You do the math.

Or make up more B.S. to try and slither out of your absurd position.

Btw, according to the same ChinaDaily the Chinese themselves
officially categorize about 80million Chinese as middle class - or
less than 7%% of the population.

Perhaps, especially since we're in an economic slow-down at the moment
and a major source of net worth for Americans is their homes which
have decreased in value for the moment. But the Chinese still have a
long, long way to go to catch up with us - or almost any major Western
country for that matter, not to mention some of the more prosperous
Asian countries, such as Japan.

Do you deny the 30%% drop in crude oil prices in recent weeks? Not the
price action you would expect in a world supposedly running out of
oil. Of course anyone who understood economics could have anticipated
this price drop - but that of course doesn't include you. Though it is
noticeable that you've stopped squawking about $10/gallon gasoline
recently - just as you stopped squawking about Hillary's expected
landslide victory.

Certainly. It's unsustainable and no one has ever done it - especially
not an economy as managed (and thus as prone to be fucked up) as is
the Chinese. (No one is smart enough to manage an entire economy.
Just ask Alan Greenspan who apparently once thought he was). We saw
what happened to the "Asian Tigers" and their vaunted and oft touted
managed economies in the 1990's when they, too, were regarded as
unstoppable. Japan has still not recovered, e.g. the Nikkei index even
at its recent peak last year was still less than half what it was 10
yrs. ago. But everyone, like you are doing now about China, was sure
that Japan was going to "own us". Btw, the Shanghai stock index is off
over 50%% from its highs - or, in other words, its bubble burst.

You mean other than he is an idiot who overgeneralizes from his skill
at short term trading to the grandiose assumption that it gives him
special insights into the long term direction of economies?

You mean other than the fact that he is now losing his shirt because
the dollar has been rallying strongly? Just as Berkshire Hathaway
stock has been falling?

However, very much unlike you, I'm sure that Warren Buffet doesn't
think he is omniscient.

It will need far more than the 10-12%% growth rates of recent years to
accomplish that. It has to bridge the gap between a $3-4trillion gdp
and a $13-14trillion gdp.

Apparently you have some difficulty with basic arithmetic.

Do you know what a non-sequitur is?

Fred Weiss