Guizhou Students Protest Inflation, Attack School Cafeteria

[Watchman]

Guizhou Students Protest Inflation, Attack School Cafeteria
84 commentsby Fauna on Friday, November 26, 2010

From NetEase:
Thousands of students at a Guizhou high school unhappy
with increasing food prices attack cafeteria at night

Summary: November 24, a netizen published a post stating that a
school cafeteria/canteen riot occurred at the Number 2
Middle School in Liupanshui city of Guizhou province, with
over a thousand participants.
The reason the students vandalized the cafeteria was because
the school cafeteria that evening announced a price increase.
At present, the school has already begun cleanup and repair
of the damaged portions of the cafeteria.

 

[GoFlyKiteNow]

Just as the financial experts warned...Inflation is a big threat to China,
thanks to its stimulus package of last year. !
Bubbles are forming everywhere.- "Social stability" is at risk !

 

[Dreamer1]

The Communists prevented the bubble from imploding in 2009 by expanding their bank loans by something like 40% of GDP in a year and a half.
If you grow your bank loans by 40% of GDP and only get 10% GDP growth, that’s a pretty poor performance.
It just makes the Chinese economy even more bloated and unsustainable and prone to crisis than it was before.
More to come!
But it is not only Communist China.
This crisis is all about imbalances.
On the supply side, there’s too much supply, because credit has been expanded without limit using paper money.,credit to Ben Bernanke
On the demand side, we can’t keep pace with the supply because wages aren’t going up in the world.
Globalisation has meant that wages in the Western world have stopped rising — and wages in the developing world aren’t rising fast enough.
80% of people in Communists China, despite more than 30 years of lumber (1) economic growth,are still earning around US$5.00 per day

But if we find a way to redistribute the income away from the wealthiest people on the planet: the Billionaires Club, the $100 Million Club and the $10 million Club. Redistributing some of their income will be good for everybody.
They will accept in the end it will be good for the billionaires, multi-millionaires,millionaires,and for the poorest people on the planet (9,000,000,000,000 of them by 2030)— because then the game can continue.

That seems to be the only way moving forward.