“Soft despotism is a term coined by Alexis de Tocqueville describing the state into which a country overrun by "a network of small complicated rules" might degrade. Soft despotism is different from despotism (also called 'hard despotism') in the sense that it is not obvious to the people."

Thursday, November 25, 2010

China July-September surplus totaled $102.3 billion, double last year.

What is a current account surplus?

An imbalance in a nation's balance of payments current account in which payments received by the country for selling domestic exports are greater than payments made by the country for purchasing imports. In other words, imports (of goods and services) by the domestic economy are less than exports (of goods and services). This is generally a desireable situation for a domestic economy. However, in the wacky world of international economics, a current account surplus is often balanced by a capital account deficit, which is generally considered an undesireable situation. If, however, the capital account does not balance out the current account, then a current account surplus contributes to a balance of payments surplus.

China's current-account surplus widened in the third-quarter to slightly more than double its year-earlier level

By Michael Kitchen
LOS ANGELES (MarketWatch) -- China's current-account surplus widened in the third-quarter to slightly more than double its year-earlier level, the country's foreign-exchange regulator reportedly said in a statement Thursday. The July-September surplus totaled $102.3 billion, up 103% from the third quarter of 2009, according to several reports citing the State Administration of Foreign Exchange statement. The stated surplus represented 7.2% of gross domestic product, according to Dow Jones Newswires, and compared to the second-quarter surplus of $72.9 billion, which marked a 35% year-on-year rise.


  1. We meet at Challis next August. I've got this whole thing figured out. We float the Salmon. I pay.

    Get the bored city people a little break. See some real stuff.

    There won't be no rock videos, nor no quoting of books, just the real thing.

  2. The US is sending a carrier group to protect South Korea, a country with a huge trade surplus with the US. Korea has the surplus because they do not want a real free trade treaty with the US, one where they would actually have to buy US goods.

    Korea needs protection from 25 North Korean cannons.

    China protects North Korea.

    China enjoys a tsunami size trade surplus with the US, mostly because we are stupid and docile. We normally judge our politicians by their hair, porcelain white teeth and an American Fag on their lapel. Our US politicians protect our interests.

    The politicians and the president, elected and paid for by us, are spending money we do not have to keep peace for North Korea, South Korea, Japan and China.

    We have a lot to be thankful for.

  3. We are going to float the Salmon next August. I insist. Get this politics out of our heads.

  4. Frank Church Wilderness Area, the only democrat I ever voted for.

  5. Meanwhile the very nice lady from Alaska is strengthening her interviewing skills because she wants to be president and protect us:

    SARAH Palin has told radio listeners in the US that Americans should stand by their "North Korean allies".

    The former Alaska governor and potential presidential candidate was asked about the conflict between North and South Korea.

    "Obviously, we've got to stand with our North Korean allies," she said yesterday.

    North Korea labelled 'mad dog' regime

    Her interviewer pointed out that in fact, it's South Korea, not Kim Jong-il's North Korea, that is the US's ally.

    Obama fears a palin challenge to his presidency, paralyzed with fear.

    The radio gaffe came as President Barack Obama said he respected Ms Palin's political skills but had not thought about the possibility of facing the former Republican vice presidential candidate in the 2012 presidential election.

    Mr Obama acknowledged that Ms Palin "has a strong base of support in the Republican Party,'' but he says he spends most of his time focused on being "the best possible president".

  6. I probably could use a good float myself.

  7. ah,she just fucked up, they all do once in a while.....

  8. I forget. How were Frank Church's teeth and hair?

  9. You have to admit the timing was not good.

  10. You are invited, and I am serious.
    Not that it could be, but it will be....night

    I have never floated the main Salmon, I hate to admit this.
    Have floated the Grand Rhonde and the Clearwater.

  11. I guess it is possible another Obama term would be of minor consequence. He would have a hard time screwing things up much worse than they already are.

    But really,I do want to see him replaced so that I can see him or Michelle dancing with the stars.

  12. I almost drowned the last time I floated on a white water rafting trip in Costa Rica. The guide lost control of the raft in rain swollen rapids and I got flipped out of the raft.

    I had always thought that if it happened I would hold my breath and float to the surface. It did not quite work that way.

    Without warning or preparation I went under on the out breath. Instead of bobbing to the surface, I tumbled under the rapids. To make matter worse I was choking from asthma irritation in my wind pipe. I could cough out, but if I coughed in, I was dead man floating.

    I barely fought the panic but fortunately surfaced, the asthma attack so bad that I could only draw in air in tiny measured amounts, way short of my needs. If I tried to breathe faster, which my body was screaming for, I would only shut down my windpipe and then cough out what little air I still had in my lungs.

    Panic barely lost to discipline and I was fortunately dragged back into the raft, a full quarter mile down stream. It took me at least five minutes to slowly draw in enough air to keep me oxygenated and the asthma attack under control.

    An hour later, over a cold beer, I started to come out from my shock as to what had happened to me. Had my clothing or foot been caught in a snag from a submerged tree or between a couple of rocks my cold beers days would have ended.

    Once again I learned the often forgotten lesson that there is a difference between fate and tempting fate.

  13. I would not be here to torment you over Sarah.

  14. Also the tip of the day is pumpkin pie.

    Apparently the aroma of the pie arouses sexual desire in men. So, all you women out there who want a little, just serve up some pie with your dinner and you will have a night to remember.

  15. Of course that's not what I would use.

  16. I have no clue why I keep commenting.

    I do know I have a whole fucking dinner to cook and I really don't feel like it.

  17. My biggest fear is drowning. If there is a scene in a movie I have to close my eyes.

    A few of my friends were sitting around my kitchen table having drinks. We were laughing so hard that I regurgitated a little and inhaled at the same time. I couldn't catch my breath. I couldn't take a drink. I couldn't cough it out. They thought I was playing around. I removed myself from the table hoping I could catch a breath. Nothing! I couldn't breathe. I started to panic.

    After what seemed liked an hour my friend realized something was wrong. She came over to me and asked what she could do. All I could think was call 911. It wasn't until I started to pass out that I was able to take a breath.

  18. At age 2 my nephew was a survivor drowning victim.

  19. I'm back. I just heard that K-mart is open and so is Old Navy. Maybe I'll stick the bird in the oven, no pun intended, and go shopping.

    And if I continually get meaningless and unnecessary Thanksgiving texts I will throw my cell phone against the wall. Grrr….

  20. You're just all excited about the idea of a float trip on the Salmon is all.

  21. to Deuce's argument regarding foreign holdings of sovereign debt:

    "Elena Salgado, Spain’s finance minister, insisted on Wednesday that Spain would not need rescuing. She told Spanish radio that “we are in the best position to resist against these speculative attacks.” Indeed, some say that one of Spain’s relative strengths is that a large amount of its government debt — 203.3 billion euros ($271.1 billion) — is owed to its own banks, rather than foreign lenders. If the government’s financial condition worsens, the thinking goes, Spanish banks would have a greater incentive to help out by easing terms on the loans than would foreign banks, which might take a harder line.

    Of course, it is a bit of a double-edged sword; if the Spanish banks need to ease terms to help the government, they could be forced to swallow steep losses, hurting their balance sheets. "