This (fictional) piece is the best from my (limited) weekend reading:
The following fictional conversation never occurred in June 2009 between Treasury Secretary Tim Geithner and a Chinese negotiator named Cheng for the sale of U.S. assets, at least not that we know of.
— USA Fire Sale, 2nd Meeting, June 2009: Political capital call, iTulip.
Some of the ‘human rights’ stuff cuts a little close to the bone. It’s almost as if the Americans (i presume to be) writing this with that they had an authoritarian / repressive system to live under… there is, after all, no accounting for puritanical tastes.
Entertaining and informative. Sightseeing on the road to a financial brave new world!
After thought. A lot of what i’m reading reinforces my views that the Chinese (or more broadly Asia) is well aware of what it is doing, and will manage the descent of the West into a far more “equal” set of relationships over a relatively long period of time. Just like the frenzy of doomsaying around peak oil last year, our systems are a lot more flexible that it first appears – stretching them to the point of collapse takes time. This is presumably because we are highly adaptive, on mass easily manipulated, and delusional. It isn’t very encouraging, but it does go some way towards explaining why what appears to be a completely untenable situation can be strung out for so long. The obvious exception to this would be Gaia, which doesn’t really care how it kills us off, just as long as it shakes this fever.