The Ascent of Money - US:0 - China:1
 

chimerica ... the all so wealthy USA ... living on debts :1orglaugh

start here and watch related videos ...
https://youtube.com/watch?v=QmLNV8WYAO0

remarkable:
average annual income in US: $44.000
-""- in china: $2000

so how come the US needs to borrow so much from a poor country? :pimp

China is far from being poor.

USA population: 300 mil
China population: 1.5 bil

Do the math.

err, simple math ... population * average income/yr:
US: $13.200.000.000.000
China: $3.000.000.000.000

hmmm ... how come the chinese save so much more
with a way smaller income?

they don't believe in debt?

a vast majority of these people live far below the poverty line?

communist govt takes the money from the people. then u.s. consumers buy cheap chinese goods- it's a win-win for china.

It isn't just about average income. It is also about the tax rate. China taxes its wealthy at around 45% and since they are a communist country many of the businesses are owned (or at least partially owned) by the government. This allows them to pocket the profits from these businesses and helps give them a nice chunk of change.

starting watchin on it
but , i think America considering having debt on there own , while china accepting help to other country like japan and US

depends on how you define poverty, not? if you cud get by with
less than $2000 yr covering all expenses and still have some left;
wud ya call it poverty? other way around; if earning $44k and ya
still not able to get by w/out CC or other debts; who is closer to
poverty? :upsidedow

How are they doing so well, when you read shit like this?

http://online.wsj.com/article/SB123171862994672097.html

They had a piece on the CBS news tonight about thousands of homes that have to be torn down because of this substandard drywall. This is the tip of the iceberg with that country. I don't know how a country with no fucking standards is going to compete with the rest of the world. They're growing too fast, and it will catch up with them eventually -- and I'll be there laughing at them, holding my nuts.