Comments by "HKim0072" (@HKim0072) on "$0.40 Beef, $0.80 Stir-Fry! Chinese Can Barely Afford It! Huge Deflation, Economic Collapse Begins" video.

Congrats Xi! I called this months ago. It's the worst possible scenario. Inflation in necessities and deflation in discretionary goods. The higher prices in necessities is crushing discretionary items even more. Economies run off discretionary purchases.
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The even weirder part of CPI vs PPI is...housing. In the US, 30% of CPI is housing. PPI doesn't have a housing component. Obviously, housing is falling dramatically in CCP China right now. It would be really really hard for CPI to be higher with housing costs falling. note: China's CPI is a black box. Have no idea what % they assign for housing in CPI.
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So, basically you were making minimum wage. Min wage jobs aren't supposed to be long term jobs. Yes, it's terrible for people that get stuck in those jobs. Waiting tables / bartending are the best type of jobs to make decent money without having any technical skills. When I was making minimum wage, lunch and transportation would take nearly 2 hours of my work day.
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Banks are mildly concerned about homeowners mortgage defaults. But, they are pretty aggressive in seizing and selling properties. Then, the homeowner is still responsible for negative equity for the rest of their life. But, if these brick and mortar stores all go under and commercial real estate defaults, whew. There is no recourse. Banks are going to take the loss. It's all opaque though. No one on the outside has a clue what is really on the books.
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Starbucks and Estee Lauder said their China businesses aren't rebounding as they should either. Estée Lauder stock was falling Wednesday after the cosmetics company lowered its sales outlook for the year as softness in China is expected to continue. Starbucks revised its projections for global and U.S. same-store sales growth to a range of low single digits to flat from its previous forecast of 4% to 6%. Same-store sales in China are expected to decline by single digits, down from the prior outlook of a single-digit increase.
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Agree. I've been to several Asian countries. Thought at least I'd go to HK at some point. Have zero interest. I feel more confident eating street food in Thailand than any food in CCP China.
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@PlanetCHINA.1 Wumao crying because China stock market never goes up. The SSE Index was 3100 in 2007. And, obviously has no clue how the business wires work in the US market.
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@batmansmith7422 lol, Youtube expert commenter is going back to the '30s. Dude - it's called math. It's magic! People just word vomit these days and don't do any basic research. Dude likely qualified for food stamps (SNAP). And, the Fed minimum wage is basically right near the poverty line AND you qualify for food stamps. So yeah, real data backs up my statement.
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@xhagast It's a good example of the fatal mistake by western politicians and how they miscalculated. They applied the same western sense of ethics when dealing with China and assumed CCP China would start playing by the same western rule set. I've learned to throw everything out the window and re-calibrate with CCP China. Everyone is trying to cheat each other. And, people in power will get away with it.
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