China’s Full Speed Economic Disaster

Chris examines China's deteriorating economic situation, attributing its struggles to command-and-control policies under Xi Jinping. From dismal trade activity to youth unemployment and the housing market collapse, China faces mounting challenges. Markowski highlights the CCP's reliance on printing money and currency devaluation while noting internal unrest, mass layoffs, and violent incidents that reveal growing dissatisfaction among citizens. He warns against emulating China’s policies, urging the U.S. to chart a path away from centralized economic control. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
China's full speed economic disaster. Again, this is not a
black Swan moment coming out of nowhere. This is something
that we have talked about for some time. I actually,
you know, again were Equal Opportunity Bacheler's here on the program.
I've described the direction that this country has been heading in,

(00:39):
you know, the old road to serfdom, highway to Hell.
On this path towards some government directives running the country
and the economy out of Washington, d C. More often
than not, whether it be by the President or unelected
bureaucrats and various different acronyms, agencies have put us on

(01:03):
a very very difficult path. And you know, God willing,
we can you know, eventually hit that off ramp. China
is a prime example of what not to do. I
don't know why in God's creation people in Washington, d C.
Feel the best way we can compete with China is
by being China. China is a mess, been a mess.

(01:26):
You're actually taking a look at some of the economic
numbers that have come down the pike as of late,
and none of this should be any sort of surprise.
Dismal import and export activity numbers not meeting estimates, not
surprised by at all. And again these are these are
numbers coming out of China which you cannot trust. Again, Uh,

(01:49):
the policymakers in Beijing, what are they going to do?

Speaker 1 (01:54):
Print?

Speaker 2 (01:55):
Yes, we're going to try. They're going to try to
stimulate the economy. They're going to try to print money.
They're also, i said, they're going to want They're going
to let their currency depreciate. And again this is you know,
talking about the trade war with the United States and
the various tariffs that are being put on. And again

(02:16):
they're saying, Okay, we've got to value our currency to
make our exports more attractive. Again, doing the same thing
over and over again, expecting a different result. Xijinping has not.
He's been a loser for the Chinese. Chinese economy and
the direction that they were heading. In several other stories

(02:37):
over the past week showing signs that they're having issues there.
This one was from the epic times talking about various
different military officials that are being fired, to defense ministers
being fired. Why is this the case again, You're dealing

(02:57):
with a command and control you want to call it, communists,
call it whatever you Maybe there's there's palace intrigue that's
involved in countries like this, and you know, my my
take is probably the uh, you know, Zijian ping and
as people that probably feel threatened by certain members of

(03:19):
the military for whatever it may be. Maybe they're trying
to make an example. Who knows, who knows, But it's
this again, this We're not getting these stories here in
the United States. There has been a spate of deadly
attacks in China, mass stabbings, car ramming incidents. Why, well,

(03:45):
people are fed up. They're fed up, they're angry, stagnating growth,
you know, many people again they've lost everything in regards
to their housing market. As there the communist parties, securities
are ordered nationwide efforts to resolve conflicts at the grassroots

(04:08):
and nip them in the butt. China's top prosecutor urged
officials to better protect the rights of low income workers,
jobs seeking graduates, and vulnerable groups such as the elderly,
t is a way to strictly prevent extreme cases from
happening again. Kids graduating from college over there, they've got nothing.
Youth unemployment is through the roof. Millions of young Chinese

(04:34):
struggle to find jobs. Homeowners have been watching their property
values sinc debt, laid developers not finishing building the apartments
that they had already bought, people not being paid, including
government workers. Again, one disaster after another. But this is
what happens when you have a command and control economy. Again, dixispies,

(05:00):
he's got that, He's got that Mao in him, without
a doubt he does. And he has put the country
on this path. Am I expecting anything better out of China?
And this guy now, now he is a true believer.
And unless you know, he goes by the wayside and

(05:22):
somebody replaces him. Printing money and devaluing their currency is
not going to get them out of the hole or
this car crash that they're you know again, full speed ahead,
they hit the wall, that's where they're going. It's going
to happen. Watchdog on Wall Street dot Com