Enjoy it while it lasts, for the Chinese economy will eventually catch that same type of "Asian flu" that all the economies of its neighbours came down with in the 1990's.

Only the contagion will spread far further, far faster, when it does. A wise government, if there were such a thing, would already be making tentative plans towards what will need to be done when this occurs.

It'll be unlikely that we'll come through it again, (albeit with the considerable economic pain we did), through the maintenance of of a minimal modicum of government spending. As was done when the NDP was in office, much to their credit, (failing any knowledge on their part of what else could be done).

Right now, by placing so much emphasis on resource exports to China always rising, we are setting ourselves up for a very big fall. While it is wonderful to be able to use and recover at least some of the value once inherent in our MPB killed forests, before this resource rots and is lost completely, we shouldn't be so totally starry-eyed at the prospects of new found wealth through employment that we ever forget what will happen when the current, seemingly insatiable, demand suddenly ceases. Which in all likelihood, if history has any credence at all, it will.

China is still in the 'pioneering' stage in its modern industrial development ~ just as BC once was, back in its Golden Era of the 1960's. That won't last forever ~ they're going to out run the ability of other countries to absorb their products, let alone ever pay for them. Even at the most artificially low price they can be offered, and no matter how generous the terms of finance.

We should begin to prepare for this NOW, and initiate steps to protect ourselves from it when it happens. We are NOT, in any physical sense of the word, a 'poor' country. It would be a shame if we were reduced to poverty 'financially', and forced to remain there, simply because we can't properly relate '$-sign figures' to 'facts'.

I think the "reality" reporters out there, should learn a litte lesson in compassion. Its obvious to everyone including the common squirrel that the government needs to wake up and find a better way to build a better mouse trap. We see it on every channel of information available on how screwed we as a nation, people, country are. I think anytime we have jobs in an industry where there has been so much job loss, that is a very good thing. I also think that some of these families are brimming with joy at the thought of being able to afford Bobby's new soccer boots, or suzies new dress, or more than likely are able to pay that nagging creditor up to date, or put more food in the fridge.

I think those that are in need of a long awaited job, or in need of those extra dollars on their paycheck are probably quite happy that there is an extra shift or two at the mill.

So to all of you government watchers, economy experts, and fear mongers out there, if you can't be happy for the common family who just got a really good break, then at least keep the negative stuff to a dull roar, and try to print something positive to those who really need to hear something positive in these trying times.

Have a little heart for those who may read your "facts", there are those who really need some good news once in awhile.

Thats my stuff, have an excellent day everyone, and to those who just got their shifts extended at the mill, or are in training for a new mill job...congrats!!
tale your family out to dinner and enjoy.

Amen to that, highlanderpg!

Epictetus (one of the Greek philosophers of ancient times) said this:

There are two apparent things out there in the world. There are things that we can have an influence on and there are things which are beyond our control. Know the difference! Act upon the things which are WITHIN your power! As to the things which are beyond your power - act as if they don't exist, as if they mean nothing to you!

"Take your family out to dinner and enjoy."

Great idea! See you there!

A discussion with our employees, Libyan government shooting their own people. Egypt having to get rid of their leader, continued turmoil in Iran, Iraq and Afghanistan.

Hmmm, makes our issues with potholes pretty much insignificant.

We live pretty high on the hog, as a society as a whole. Our grandchildren may not have this, we need to rethink the long term plan for our province, not four years at a time.

Why should we have to delude people that everything is going to be perfect if only we get the next big sale to China, or wherever, when we ALL know it is NOT?

There are certainly things in this world that we can not change. Those things are governed by natural law, i.e. the law of gravity, for instance.

But there are a great many more things we CAN change. Ones that are not governed by nature's laws at all, but entirely by man made constructs and conventions. And virtually everything to do with 'economics' and 'finance' are in this latter category.

When we don't learn from previous mistakes, we're fated to repeat them. And when China's economy goes into the tank, which is a virtual certainty in the future with the current financial system as it is now, those who have pinned all their hopes on China's continued expansion had better be prepared for what will follow. The time for us to start thinking about this is NOW, not after it happens.

Don't think for a moment that if it comes when a Liberal government is in Victoria we're going to be better equipped to deal with it than if there was a NDP government there. We WON'T be. Neither of these groups wants to face the stark reality of what lies ahead, or how that reality can best be dealt with.

Oh crap, reading your blog "socredible". wanna make me want to jump off a bridge.

Why hesitate? He's right.

Socredible,
How is it a virtual certainty that China's economy is going in the tank? First time I have ever heard such a confident statement about the economy of a country. The second biggest economy in the world from what I read recently. Would the tank be China growing half as fast as it is now? 5% instead of over 10%. If you think they are going to have negative GDP growth please do not bother responding.

Hood rich, there is no inustrialised country on Earth that currently can buy ALL its own production and fully pay for it from the wages, salaries, and dividends (profits), distributed in the course of making that production.

They are ALL dependent on exporting a part of their production, NOT only because that's how they pay for alternate imports that are more necessary or desirable to them, but more so because they ALL depend on receiving international 'credit' for the difference between their exports and imports.

This 'credit' supposedly is necessary to allow the purchase and payment of goods and services in their home economy which otherwise could not be bought at a price sufficient to cover the full cost of their making.

The problem doesn't really involve whether China has a 5% rate of growth or a 10% one, nor anything to do with its GDP (which is a spurious measurement of anything, in any case.)

The problem is that the financial system, as it's currently constituted here and elsewhere, is NOT, nor can it currently ever be, fully financially 'self-liquidating' in each, and every, successive cycle of production. And the more any country industrialises, the more so this is the case.


It is the reason why the fledgling, mid-19th century, rapidly industrialising USA, which hadn't even filled up its present boundaries on the North American continent, sent its Navy across the Pacific to "open" then feudal Japan to foreign trade.

And later had its gunboats on the main rivers of China for years, to do the same thing.

It is the reason why the Kaiser of pre-WW I Germany regarded the German concession in China as the most valuable of all the territories Germany had in its then considerable overseas empire. Not for what China could supply to Germany in the way of exports, but as a captive dumping ground for German manufactures that couldn't all be sold in Germany, and were frozen out of other markets.

The same thing can be said as to why the once mighty industrial Britain regarded India, with its teeming millions of people, the "Jewel in the Crown" of the British Empire. It was a captive market. Where a shirt from the cotton mills of Manchester could be had in the bazaars of Bombay for a fraction of the price it might be purchased for anywhere in
England.

Nowhere has this 'export or die' mania ever proven to be sustainable. At its peak it has continually led the loss of a 'trade war' by one or another of the industrialised countries to an attempt to rectify the loss by 'military war'. There is no reason to suppose, with things currently progressing as they are, that we've learned anything from past mistakes.

The answer is NOT to avoid industrialisation, but to begin to recognise and mitigate the way finance currently mis-represents our ability to fully draw upon the productive system we have created.

This doesn't mean that we cannot or should not 'trade' with other lands ~ to do otherwise would be totally foolish. But it does mean that we need to make that 'trade' into what it purports to be ~ TRADE. Not some phoney quest for some other country's 'money' to pretend that this is somehow making us 'richer', when in reality it's doing just the opposite.

It would make things easier if u addressed one topic.