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Minyan Mailbag: Chinese Food for Thought


I feel so isolated!


Editor's Note: Minyanville is a community of people who share an interest of fiscal literacy. As perspective is an important aspect of our daily routine, we share this email with hopes that it adds balance to your process.

This missive comes from a colleague with many years of international public policy experience. The views expressed are his own and do not reflect those of Todd Harrison or Minyanville.


My own thoughts on China: I dare to share

On Tuesday night, Jonathan talked about China stating that they will manage the price of oil at or around $ 60 to ensure that the largest buyers of the Chinese products , that is the debt ridden and debt driven 'us' or "US" or both, are not affected adversely.

In reality, we are hurting already. Many who drove to Riverhead, NY or Reading , PA for a weekend of shopping have stopped doing so. Many wholesalers and retailers who did a weekend travel for collection of past dues are no longer doing so since the cost of collection ( gas & time ) far exceeds the probability of not making a collection!

Since 1991 , I have had the opportunity to understand China - more geopolitically than economically, since I was frequently asked about the Indo-China comparisons in my presentations in the US.

A few pointers :

1. We caused the collapse of the USSR but we didn't feel the impact because all that they made was Lada cars and a few sputniks. Our local businesses were not dependent on the USSR. Consequently we didn't miss the Russians at all.

2. China , however, has the potential to destroy the US lifestyle since we have everything made in China--Disney, Toys R' Us, expensive suits, shirts and shoes, garden chairs and hundred's of other items. The Chinese have not only gotten in our pants & shirts but they are virtually in bed as well ! Destroying and victimising the life style and our values is the priority of their geopolitical game plan - something they have taken very seriously and perhaps played to perfection , be it in Taiwan , or pointing missiles at the US mainland or a convenient cancel of Boeing purchases in favor of Airbus.

3. They are principally responsible for using Pakistan ( a key US friend ) as the tool thereby neutralising any strategic advantage that the West had.

4. While the capabilities and credentials of the US Wall Street geniuses remains high, their credibility is remarkably poor and tilts more towards serving themselves. China does gain credence as the world is eagerly and curiously watching the new courtesan of capitalism and her every move!

Thanks for reading this, and for what you do in Minyanville each day. Remarkable stuff.

Minyan V

Minyan Housekeeping:

As we edge towards our upcoming "Minyans in the Mountains" financial retreat, we're proud to announce that Tom DeMark will be joining us for his first public appearance in 18 months.

Mr. DeMark, the Founder and President of Market Studies Inc., was formerly Executive Vice president of Tudor, hedge fund partner with Van Hoisington, market advisor and consultant to Soros, Steinhardt, Goldman Sachs, Dean Witter, IBM, Union Carbide, MMM, Morgan Bank, Citibank, State of Illinois, Atlantic Richfield, Trust Company of the West, First Investors, NorWest Corp, Tisch Family (Loews Corp), Leon Cooperman (Omega Advisors), Steve Cohen (SAC Capital), amongst many other large investment companies.

Mr Demark has been involved in multi-billion dollar pension and profit sharing management as well as futures' fund management with legendary floor trader Charlie DiFrancesca, the largest trader in the Chicago Board of trade Treasury Bond pit. Furthermore, he has been a featured speaker at many financial and investment conferences and seminars all over the world, and has written many articles on trading techniques.

This is a feather in the Ojai cap and we sincerely hope to see you all at our annual Sundance of Finance!

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