{"id":18700,"date":"2016-03-10T12:09:37","date_gmt":"2016-03-10T17:09:37","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18700"},"modified":"2016-03-10T12:09:37","modified_gmt":"2016-03-10T17:09:37","slug":"the-world-economy-wreckers-of-beijing","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18700","title":{"rendered":"The World Economy Wreckers Of Beijing"},"content":{"rendered":"
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The World Economy Wreckers Of Beijing<\/a><\/h3>\n<\/header>\n
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The desperate\u00a0suzerains of the Red Ponzi are incorrigible. There appears to be no insult to economic rationality that they will not attempt in order to perpetuate their power, privileges and rule.<\/p>\n

So now comes the most preposterous gambit yet. Namely, a veritable tsunami of state handouts to foster, yes,\u00a0capitalist entrepreneurs!<\/strong><\/em><\/p>\n

That\u2019s right. As described by Bloomberg,\u00a0Premier Li Keqiang\u00a0 gave the word, and, presto, nearly $340 billion poured into an instantly confected army of purported venture capital funds run by local government officialdom all over the land.<\/p>\n

China is getting into the venture capital business in a big way. A really, really big way<\/strong><\/em>.<\/p>\n

The country\u2019s government-backed venture funds raised about 1.5 trillion yuan ($231 billion) in 2015,\u00a0tripling<\/strong>\u00a0the amount under management in a single year to\u00a02.2 trillion yuan<\/u><\/a>\u00a0($340 billion), according to data compiled by the consultancy Zero2IPO Group.\u00a0That\u2019s the biggest pot of money for startups in the world and almost five times the sum raised by other venture firms last year globally,<\/strong>\u00a0<\/em>according to London-based consultancy Preqin Ltd.<\/p><\/blockquote>\n

Really? These are the\u00a0same folks who built themselves a 1.2 billion ton steel industry in less than two decades, representing\u00a0double<\/strong><\/em>\u00a0what they can actually use and far more capacity than the rest of the world combined.\u00a0That freakish industrial eruption is now\u00a0tumbling into a red hole of losses, decay, abandonment and waste, but never mind.\u00a0Now the Beijing\u00a0comrades are\u00a0going to seed venture capitalists at 5X the rate of the entire planet?<\/strong><\/p>\n

It puts you in mind of Mao\u2019s Great Leap Forward, which endeavored to put a steel furnace in every Chinese farmer\u2019s back yard. Of course, when they melted down their plows and hoes for scrap, the resulting leap was not exactly forward.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The World Economy Wreckers Of Beijing The desperate\u00a0suzerains of the Red Ponzi are incorrigible. There appears to be no insult to economic rationality that they will not attempt in order to perpetuate their power, privileges and rule. So now comes the most preposterous gambit yet. Namely, a veritable tsunami of state handouts to foster, yes,\u00a0capitalist […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2045,130,5979,2120,195,11368,3246],"class_list":["post-18700","post","type-post","status-publish","format-standard","hentry","category-economics","tag-beijing","tag-china","tag-contracorner","tag-david-stockman","tag-debt","tag-red-ponzi","tag-world-economy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18700"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18700\/revisions"}],"predecessor-version":[{"id":18701,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18700\/revisions\/18701"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}