Poor Charlie @PoorCharliePM

@JeffreyCain8 @runclepennybags @_damian_bot @PEWilliams_ it's not a bad option, as the other guy said, by your logic a 30-year is bad too, why not just buy with cash? The point of a mortgage is it locks in your payment over the period of the loan, and you ought to build equity passively from inflation eroding away your debt

@JZ281C working long rigid hours in specialized formal sector. This means men and women both have little time and flexibility in careers to have children. Rich ppl can get around this by buying childcare services. this dynamic doesn't seem like it will change anytime soon. 2/2

@JZ281C nothing to do with capital intensity, everything to do with labor intensity. if rich people are having more kids it likely has more to do w/ being able to afford expensive domestic labor (services) than tangible goods. being competitive in global market requires... 1/2

@oLevLovesLove @favelaoverlord Immigration is not killing the west you dipshit. Without it western countries would be economically unviable. Rural Chinese seniors receive a pension of 100RMB when they retire. The welfare state is stingy in China and working class people are the ones who suffer.

@Kapowskli @2024dion It will be pound for pound one of the most dynamic and innovative economies on Earth? You realize US is already filled with so called "third worlders" including millions of mainland Chinese who immigrated when China was (and arguably still is) a "third world" country.

@dasanil That clown actually believes that denying adequate welfare and condemning hundreds of millions of Chinese seniors to abject poverty is beneficial for China.

@JamNana7 @yesokyeahsure The West did not forcefully modernize itself to match powers like China. The West had no motivation to "match" China, no fleet from the Chinese navy ever bombarded a European port city. Modernity is a product of competition amongst Western powers.

@yesokyeahsure Modernity does not originate from China. It was adapted from the West, and the single-minded focus on modernization and increasing production has taken a massive toll on Chinese society.

@yesokyeahsure Modern China is a discontinuity from the past 3000+ years of Chinese history. Modernity is something China forcefully imposed on itself because the nation felt humiliated by Japan and Europe. It's unlikely China will recover from this like it has in the past.

@JZ281C China undervalues its currency so looking at nominal gdp in US $ terms will lead to underestimation of Chinese economy compared to other economies. China current account surplus was 4 percent of GDP in 2010 and India's current account is in deficit of 1 percent GDP currently.

@favelaoverlord @tafphorisms Also, a developing country needs to import capital goods and raw material to speed up industrialization. When the population is growing quickly, a lot of forex gets eaten up in domestic consumption, leaving behind little to invest in future growth or to export surplus production.

@favelaoverlord @tafphorisms Because governments don't want to be overwhelmed. It's hard provide education, healthcare, and other responsibilities that lie within the government's purview in a country with rapid population growth, especially in countries which have a very shallow capital pool to begin with.

@JZ281C Even the most developed economies in the world, take Switzerland for example, seem to be able to absorb more workers. It's countries like China and Italy with terrible macro-demographics and shrinking labor pool that are plagued with high youth unemployment. This is the paradox.

@JZ281C What levers of productivity? Is productivity actually booming? China is still playing catch-up in so many high value added sectors. If micro-demography were playing out as you say, youth unemployment in far more developed economies would not be a fraction of China's.

@JZ281C @GuthmannR it's not about size of tech gap but the nature of tech gap. tech gap between ak-47/f-35 bigger than tech gap between longbow/ak-47. ak-47 posseses qualities estab. deterrent that f-35 civ will never dominate an ak-47 like an ak-47 civ would dominate longbow civ.

@JZ281C Japanese employment rates are high because quality of employment is abysmal. Contrary to expectations, Japan did not see wage growth despite shrinking workforce. Instead, consumption declined, companies saw declining sales, they shut down, economy stagnates and so do wages.

@paulnovosad @patrickc Are you people stupid or something? The % of Muslims in Denmark is higher than in Germany.

As a resident of Canada this should be your lived experience. People in industrialized societies forego having children to accumulate large amounts of capital. Then when they retire, the cohort that inherits this capital is too small to utilize it productively so there's a strong incentive to import foreigners who will start generating income using this pre-existing capital and will require very little additional investment from the host society to do so. Even Japan and Korea are starting to open up on immigration. It's only a matter of time before China opens up as well.

@JZ281C "Centuries" China will have 7-8 million births this year and 3-5 million in 2050s. China's rising phase ended years ago.

I think you mean French President Emmanuel Macron and his dad are suing Candace Owens for defamation.