Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Written by Gary North on December 10, 2012
How many millionaires are in North America? Go on. Guess. Now guess how many millionaires there are in Asia. Asia is ahead of North America. This includes Canada. Millionaire wealth in the United States and Canada in 2011 fell 2.3 percent to $11.4 trillion – still the wealthiest region by this measure – though it […]
Continue reading →Written by Gary North on November 21, 2012
This is incredible. China says it will build the world’s tallest building by next March. This is unheard of in history. If the engineers and construction crews pull this off, it will point to a completely new era of skyscraper construction. This technology will spread. To cut the time costs of construction by this magnitude […]
Continue reading →Written by Gary North on August 16, 2012
The pat-downs, the “your wife has a nice butt” scanning machines, the metal detectors, the long lines — they all rested on one assumption: people’s driver’s licenses are valid. Now it turns out that a small company in China has been cranking out perfect replicas of driver’s licenses for years. The TSA’s machines could not […]
Continue reading →Written by Gary North on July 25, 2012
The politicians have gotten used to deficits over $1.2 trillion. They assume that the public — meaning Asian central bankers and the Federal Reserve — will continue to fund these deficits forever, at interest rates lower than at any time since the 1930s. The believe in free money. But these IOUs are permanent. When rates […]
Continue reading →Written by Gary North on July 12, 2012
The news is bad from Asia. The stock markets are all down. News is bad from Europe. The stock markets are all down. Employment in Australia fell in June by 27,000 jobs. Yet Australia has been booming. China’s boom is faltering. The recession’s signs are spreading. South Korea’s central bank has announced an interest rate […]
Continue reading →Written by Gary North on June 21, 2012
There is little doubt that China is entering into a recession. The government of China’s statistics do not indicate this, but another key indicator does: the purchasing manager’s index. When it falls below 50, this indicates contraction. The PMI for China’s manufacturing sector is headed for 48.1. When China’s manufacturing sector is contracting, the urban […]
Continue reading →Written by Gary North on June 4, 2012
manufactiurtingJapan’s Topix index was back to its 1983 low (695). It was not alone. Across East Asia, stocks crashed today. Only India’s stock market was up today, just barely. Toyota fell 3.% in one day. It reported low U.S. sales. Sony fell below 1,000 yen for the first time since 1980. Hitachi Construction Machinery Co. […]
Continue reading →Written by Gary North on March 6, 2012
Oil prices are up. Gasoline prices are up. Don’t blame Obama. Blame Asia. Asia now accounts for at least 30% of world demand for oil. This is going to increase. Now this rising demand is forcing Westerners to dig deeper into their wallets. As Asia gets richer, Asians buy more cars. They build more factories. […]
Continue reading →Written by Gary North on February 23, 2012
The sign of the slowdown in China is the fact that rents in Honk Kong are falling. Rentals there have been from $10,000 to $23,000 a month. They were off almost 20% in 2011. The high-end rentals are falling faster. The market for rents in the range of US$25,000 to US$32,000 has been particularly hard […]
Continue reading →Written by Gary North on February 13, 2012
China’s imports are slowing. This indicates that economic growth is slowing rapidly. Imports are at their lowest in two years. Bank lending is also slowing. Because banking is run by the government, this could reverse if the national politicians decide to inflate. It has begun to do this, but not aggressively. “I think that liquidity […]
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