Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
If you read around a bit, the Chinese Canadian community are deeply unhappy about what they see as Canada inserting itself in a U.S./China trade dispute. A lot of the more prominent members of the community also conduct business between the two nations and aren't too happy about having to work in an environment where they could be arrested due to American political pressure, especially when the Americans are more and more willing to leverage traditionally non-political systems for political gain.
White House officials were literally bragging about how they planned to use her arrest as leverage in the tariff negotiations. Beyond what she is and is not guilty of, can you see how that is a major cause of alarm for the Chinese Canadian business community?
Not in any way that would explain paying her bail, no.
Meng is a favourite of the Chinese government right now.
Paying her bail is doing the Chinese government a favour.
Having a favour from the CCP is a good thing.
I don't understand why you'd grant bail to someone who's going to be extradited. Of course they're going to run away to a non-extradition country then.
She’s wearing an ankle monitor and under 24/7 direct supervision. I’m not saying it’s impossible that she could but it seems unlikely.
Edit: It’s also not a given that she’s being extradited. That’s what her future day in court is for.
If y'all get a chance, you should read about the ridiculousness of the bail hearing. Meng's lawyers literally got TWO private security agencies to come in and say that they'd "supervise" her bail, at no cost to the government. Then they started discussing the fact that her security bracelet would send an alert over a Rogers network, and Rogers is a partner of Huawei's, and all of it just sends a million, "THIS IS RICH (CHINESE) PRIVILEGE AT ITS FINEST," messages directly into your brain.
Edit: oh also, "We own two Vancouver houses and three condos so obviously we're so tied to Canada we'd never ditch bail!"
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
If you read around a bit, the Chinese Canadian community are deeply unhappy about what they see as Canada inserting itself in a U.S./China trade dispute. A lot of the more prominent members of the community also conduct business between the two nations and aren't too happy about having to work in an environment where they could be arrested due to American political pressure, especially when the Americans are more and more willing to leverage traditionally non-political systems for political gain.
White House officials were literally bragging about how they planned to use her arrest as leverage in the tariff negotiations. Beyond what she is and is not guilty of, can you see how that is a major cause of alarm for the Chinese Canadian business community?
Not in any way that would explain paying her bail, no.
Meng is a favourite of the Chinese government right now.
Paying her bail is doing the Chinese government a favour.
Having a favour from the CCP is a good thing.
Well, yes, that was kinda what I was driving at. The most obvious answer for why they would pay off her bail is that it's quid pro quo.
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
If you read around a bit, the Chinese Canadian community are deeply unhappy about what they see as Canada inserting itself in a U.S./China trade dispute. A lot of the more prominent members of the community also conduct business between the two nations and aren't too happy about having to work in an environment where they could be arrested due to American political pressure, especially when the Americans are more and more willing to leverage traditionally non-political systems for political gain.
White House officials were literally bragging about how they planned to use her arrest as leverage in the tariff negotiations. Beyond what she is and is not guilty of, can you see how that is a major cause of alarm for the Chinese Canadian business community?
Not in any way that would explain paying her bail, no.
Meng is a favourite of the Chinese government right now.
Paying her bail is doing the Chinese government a favour.
Having a favour from the CCP is a good thing.
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
If you read around a bit, the Chinese Canadian community are deeply unhappy about what they see as Canada inserting itself in a U.S./China trade dispute. A lot of the more prominent members of the community also conduct business between the two nations and aren't too happy about having to work in an environment where they could be arrested due to American political pressure, especially when the Americans are more and more willing to leverage traditionally non-political systems for political gain.
White House officials were literally bragging about how they planned to use her arrest as leverage in the tariff negotiations. Beyond what she is and is not guilty of, can you see how that is a major cause of alarm for the Chinese Canadian business community?
Not in any way that would explain paying her bail, no.
Meng is a favourite of the Chinese government right now.
Paying her bail is doing the Chinese government a favour.
Having a favour from the CCP is a good thing.
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
If you read around a bit, the Chinese Canadian community are deeply unhappy about what they see as Canada inserting itself in a U.S./China trade dispute. A lot of the more prominent members of the community also conduct business between the two nations and aren't too happy about having to work in an environment where they could be arrested due to American political pressure, especially when the Americans are more and more willing to leverage traditionally non-political systems for political gain.
White House officials were literally bragging about how they planned to use her arrest as leverage in the tariff negotiations. Beyond what she is and is not guilty of, can you see how that is a major cause of alarm for the Chinese Canadian business community?
Not in any way that would explain paying her bail, no.
Meng is a favourite of the Chinese government right now.
Paying her bail is doing the Chinese government a favour.
Having a favour from the CCP is a good thing.
Well, yes, that was kinda what I was driving at. The most obvious answer for why they would pay off her bail is that it's quid pro quo.
It should also be remembered that the majority of the BC Chinese-Canadian crowd, for now at least, are primarily Hong Kongers, who emigrated/fled in the 80s and 90s. The Chinese consul-general was speaking Cantonese at the meeting of the Chinese Benevolent Society of Vancouver this week, ranting about Meng's arrest.
So the Chinese government has explicitly moved to build support and establish ties with the BC Chinese business community. Which fits with how the CCP manage their own local business communities, and have used the Hong Kong, Macau, and even Taiwanese business communities to undermine political opposition and achieve their own political goals.
Greed knows no political boundaries, as Mao well knew. Deng just turned that fact on its head, and now Xi is seeing how far it goes.
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
Man Trump does not understand that you never say that stuff to the media. That is the kind of stuff that is suppose to come out decades later in a staffer's tell all biography.
Saying that stuff in the open, where it becomes part of the public conversation, is going to piss off the Chinese public and give Xi every reason not to negotiate.
Jephery on
}
"Orkses never lose a battle. If we win we win, if we die we die fightin so it don't count. If we runs for it we don't die neither, cos we can come back for annuver go, see!".
I thought for one glorious moment that Donald Trump himself had said...
"You voted for it moron"
In that Twitter thread, but it was just a spoof account.
You can see the poison pills in his words even while he seems to vaguely understand why so much of what he would be saying is appealing. They are hidden there..
1) expand and make permanent the provisions of the tax reform bill
2) prevent big labor from involving itself in political action
It's just a shell game designed to distract us from the republicans plans for more tax cuts and union busting.
I thought for one glorious moment that Donald Trump himself had said...
"You voted for it moron"
In that Twitter thread, but it was just a spoof account.
You can see the poison pills in his words even while he seems to vaguely understand why so much of what he would be saying is appealing. They are hidden there..
1) expand and make permanent the provisions of the tax reform bill
2) prevent big labor from involving itself in political action
It's just a shell game designed to distract us from the republicans plans for more tax cuts and union busting.
"Big labor" hasn't been a thing for like thirty years but if these idiots keep talking about it they're liable to find it resurgent when working stiffs look it up and realize that unions are actually fucking awesome and the only way that they'll be able to get their corporate overlords to give a shit about them.
I thought for one glorious moment that Donald Trump himself had said...
"You voted for it moron"
In that Twitter thread, but it was just a spoof account.
You can see the poison pills in his words even while he seems to vaguely understand why so much of what he would be saying is appealing. They are hidden there..
1) expand and make permanent the provisions of the tax reform bill
2) prevent big labor from involving itself in political action
It's just a shell game designed to distract us from the republicans plans for more tax cuts and union busting.
"Big labor" hasn't been a thing for like thirty years but if these idiots keep talking about it they're liable to find it resurgent when working stiffs look it up and realize that unions are actually fucking awesome and the only way that they'll be able to get their corporate overlords to give a shit about them.
At this point I think every major indices had had it's 20 day rolling average fall below it's 52 day average. Which, the stock market is not the economy, but that's not good.
The stock market is an aggregate of analysis and bipolar manic depression.
}
"Orkses never lose a battle. If we win we win, if we die we die fightin so it don't count. If we runs for it we don't die neither, cos we can come back for annuver go, see!".
i increased my 401k contribution the last week of september.
sorry everyone.
I blame you for any losses to my 401K :P
In all seriousness, while I'm not wild about 401Ks because they definitely aren't as secure as pensions (though worth keeping in mind those aren't fool proof), not the end of the world for anyone that doesn't have plans to retire. It might bounce back by the time it's needed. Still not good and the current trend is still worrisome, given some of the other stuff we see going on elsewhere in regards to the economy.
At this point I think every major indices had had it's 20 day rolling average fall below it's 52 day average. Which, the stock market is not the economy, but that's not good.
If nothing it shows people are not predicting the economy is going to continue doing well.
At this point I think every major indices had had it's 20 day rolling average fall below it's 52 day average. Which, the stock market is not the economy, but that's not good.
If nothing it shows people are not predicting the economy is going to continue doing well.
Pretty much every leading indicator is suggesting we're close to a Recession, but nobody knows how close. Meanwhile all the lagging indicators are still pretty solid if not great. Interesting times.
i increased my 401k contribution the last week of september.
sorry everyone.
I blame you for any losses to my 401K :P
In all seriousness, while I'm not wild about 401Ks because they definitely aren't as secure as pensions (though worth keeping in mind those aren't fool proof), not the end of the world for anyone that doesn't have plans to retire. It might bounce back by the time it's needed. Still not good and the current trend is still worrisome, given some of the other stuff we see going on elsewhere in regards to the economy.
Yeah - I did my budget yesterday which includes updating some spreadsheet numbers of "this is the collection of the past two weeks on my retirement accounts." That part wasn't fun!
At this point I think every major indices had had it's 20 day rolling average fall below it's 52 day average. Which, the stock market is not the economy, but that's not good.
If nothing it shows people are not predicting the economy is going to continue doing well.
Pretty much every leading indicator is suggesting we're close to a Recession, but nobody knows how close. Meanwhile all the lagging indicators are still pretty solid if not great. Interesting times.
I think someone posted a link in the previous economy thread that showed there’s like an average of 22 months of stock market growth after yield curve flattening/inversion.
That doesn’t appear to be holding up here, but those types of metrics have correctly predicted 9 of the last 4 recessions or something 8-)
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AegisFear My DanceOvershot Toronto, Landed in OttawaRegistered Userregular
It's a difficult thing to comment on really, because usually you can discuss the economy in terms of vaguely rational actors. If someone is doing something utterly insane, which is ruining the economy, they will usually stop if they know it is bad, or just not do it at all if they are competent.
But with the Tariffs, the Trump Tax Bill and Brexit we see people doing things they know are bad, that they know will destroy the economy, that they could stop. I feel if, for example, the trump tariffs were some kind of uncontrollable sea monster which was eating 2% of container freight off of boats then we'd already be in a massive recession, but everyone is just, hoping he gets rid of them. I don't know if we've ever had a recession before where we know IN ADVANCE the exact reasons it is happening, and also know that we could stop it!
"That is cool" - Abraham Lincoln
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FencingsaxIt is difficult to get a man to understand, when his salary depends upon his not understandingGNU Terry PratchettRegistered Userregular
I got a life insurance check I need to do something with and it would be nice to know if the market would make up its mind if it's shitting it's pants or not.
I got a life insurance check I need to do something with and it would be nice to know if the market would make up its mind if it's shitting it's pants or not.
US company Badger Sportswear selling clothes made in 'concentration camps' in China
Chinese men and women locked in a mass detention camp where authorities are "re-educating" ethnic minorities are sewing clothes that have been imported all year by a US sportswear company.
Some estimates say 1 million Muslims are detained in these camps, forced to give up their language and their religion and subject to political indoctrination.
Now, the Chinese Government is also forcing some detainees to work in manufacturing and food industries.
Some of them are within the internment camps; others are privately-owned, state-subsidised factories where detainees are sent once they are released.
The Associated Press has tracked recent, ongoing shipments from one such factory — Hetian Taida Apparel — inside an internment camp to Badger Sportswear, a leading supplier in Statesville, North Carolina.
Badger's clothes are sold on university campuses and to sports teams across the United States, although there is no way to tell where any particular shirt made in Xinjiang ends up.
The shipments show how difficult it is to stop products made with forced labour from getting into the global supply chain, even though such imports are illegal in the US.
The company has actually an statement about it, surprisingly:
Badger chief executive John Anton said the company would halt shipments while it investigates.
The company said on its Twitter account: "We immediately suspended ordering product from Hetian Taida and its affiliates while an investigation is conducted.
"One per cent or less of our products were sourced from Hetian Taida. We will not ship to customers any product in our possession from that facility," the statement said.
Meanwhile, the Chinese goverment slaver had this to say:
Hetian Taida Apparel chairman Wu Hongbo confirmed the company has a factory inside a re-education compound, and said they provide employment to those trainees who were deemed by the Government to be "unproblematic".
"We're making our contribution to eradicating poverty," Mr Wu said
"One per cent or less of our products were sourced from Hetian Taida. We will not ship to customers any product in our possession from that facility,"
I seriously doubt that. Who sources 1% of any major product they sell
I guess I could be wrong, but why not just order your 0.5% of product from a larger supplier? Seems like even if it cost more, it'd be easier to ship bulk and not have to go through the logistics of dealing with another entity for a very minimal part of your line
The current standards are so low that I'm surprised that they even bothered to address it. Apple doesn't even bother.
It's easier for people to switch to other shitty cheap clothes than to switch out their iPhone. Apple can say fuck you and get away with it. They probably can't.
"One per cent or less of our products were sourced from Hetian Taida. We will not ship to customers any product in our possession from that facility,"
I seriously doubt that. Who sources 1% of any major product they sell
I guess I could be wrong, but why not just order your 0.5% of product from a larger supplier? Seems like even if it cost more, it'd be easier to ship bulk and not have to go through the logistics of dealing with another entity for a very minimal part of your line
The garment industry often works like that. The company you know of designs the clothes, and then contracts to some larger manufacturers to make them. The larger manufacturers then look at the prices and the breakdown of the materials required, and outsources to their partner factories all over the world. The finished products then go to the central manufacturer and on to the designers.
In this case, its likely that they designed one or two products which were very low margin (likely addon items or things to bring a broader client base into the store) and insisted on a low manufacturing bid. As such, they ended up with stuff from a factory which wasn't their usual place, and was instead slave labor in China.
"One per cent or less of our products were sourced from Hetian Taida. We will not ship to customers any product in our possession from that facility,"
I seriously doubt that. Who sources 1% of any major product they sell
I guess I could be wrong, but why not just order your 0.5% of product from a larger supplier? Seems like even if it cost more, it'd be easier to ship bulk and not have to go through the logistics of dealing with another entity for a very minimal part of your line
The garment industry often works like that. The company you know of designs the clothes, and then contracts to some larger manufacturers to make them. The larger manufacturers then look at the prices and the breakdown of the materials required, and outsources to their partner factories all over the world. The finished products then go to the central manufacturer and on to the designers.
In this case, its likely that they designed one or two products which were very low margin (likely addon items or things to bring a broader client base into the store) and insisted on a low manufacturing bid. As such, they ended up with stuff from a factory which wasn't their usual place, and was instead slave labor in China.
"One per cent or less of our products were sourced from Hetian Taida. We will not ship to customers any product in our possession from that facility,"
I seriously doubt that. Who sources 1% of any major product they sell
I guess I could be wrong, but why not just order your 0.5% of product from a larger supplier? Seems like even if it cost more, it'd be easier to ship bulk and not have to go through the logistics of dealing with another entity for a very minimal part of your line
The garment industry often works like that. The company you know of designs the clothes, and then contracts to some larger manufacturers to make them. The larger manufacturers then look at the prices and the breakdown of the materials required, and outsources to their partner factories all over the world. The finished products then go to the central manufacturer and on to the designers.
In this case, its likely that they designed one or two products which were very low margin (likely addon items or things to bring a broader client base into the store) and insisted on a low manufacturing bid. As such, they ended up with stuff from a factory which wasn't their usual place, and was instead slave labor in China.
aahhh gotcha
This has actually been an issue with cleaning up the garment industry. I mean, one can and probably should be pretty cynical about how hard most of these companies are trying, but it's actually genuinely not simple to make sure there's no slave/child labour in your supply chain because of how many layers there are between the company and the actual factories that make shit. You contract to one company that contracts to another that contracts to another and like 3 layers deep you've got 10 year olds making your jeans. And of course, even if you do find out what's going on, it's then gonna cost you money to do anything about it. Almost certainly raising the price of producing your clothing to police it and insure it's coming from sources not doing X bad practice.
you know .... I kind of wonder if the only thing keeping us from a huge recession is the fact that 75% of the country will continue their spending habits as they have because they still don't have any more money due to the last recession.
like for me? so what if there's a recession? I'm going to keep spending like I haven't had a cost of living increase in a decade because I haven't had a cost of living increase in a goddamn decade.
"One per cent or less of our products were sourced from Hetian Taida. We will not ship to customers any product in our possession from that facility,"
I seriously doubt that. Who sources 1% of any major product they sell
I guess I could be wrong, but why not just order your 0.5% of product from a larger supplier? Seems like even if it cost more, it'd be easier to ship bulk and not have to go through the logistics of dealing with another entity for a very minimal part of your line
The garment industry often works like that. The company you know of designs the clothes, and then contracts to some larger manufacturers to make them. The larger manufacturers then look at the prices and the breakdown of the materials required, and outsources to their partner factories all over the world. The finished products then go to the central manufacturer and on to the designers.
In this case, its likely that they designed one or two products which were very low margin (likely addon items or things to bring a broader client base into the store) and insisted on a low manufacturing bid. As such, they ended up with stuff from a factory which wasn't their usual place, and was instead slave labor in China.
It could also mean that they literally just made certain buttons or something.
you know .... I kind of wonder if the only thing keeping us from a huge recession is the fact that 75% of the country will continue their spending habits as they have because they still don't have any more money due to the last recession.
like for me? so what if there's a recession? I'm going to keep spending like I haven't had a cost of living increase in a decade because I haven't had a cost of living increase in a goddamn decade.
If there is a recession, the banks will drive down interest rates again. If they drive down interest rates again, your frugal ways will be punished, as you won't be able to earn interest on your savings.
In addition, the slight pressure there is to increase wages and better working conditions right now will fade away.
Posts
Meng is a favourite of the Chinese government right now.
Paying her bail is doing the Chinese government a favour.
Having a favour from the CCP is a good thing.
If y'all get a chance, you should read about the ridiculousness of the bail hearing. Meng's lawyers literally got TWO private security agencies to come in and say that they'd "supervise" her bail, at no cost to the government. Then they started discussing the fact that her security bracelet would send an alert over a Rogers network, and Rogers is a partner of Huawei's, and all of it just sends a million, "THIS IS RICH (CHINESE) PRIVILEGE AT ITS FINEST," messages directly into your brain.
Edit: oh also, "We own two Vancouver houses and three condos so obviously we're so tied to Canada we'd never ditch bail!"
Well, yes, that was kinda what I was driving at. The most obvious answer for why they would pay off her bail is that it's quid pro quo.
A LannisCCPer always pays their debts.
Well... not always. But often enough.
Meng is a favourite of the Chinese government right now.
Paying her bail is doing the Chinese government a favour.
Having a favour from the CCP is a good thing.
It should also be remembered that the majority of the BC Chinese-Canadian crowd, for now at least, are primarily Hong Kongers, who emigrated/fled in the 80s and 90s. The Chinese consul-general was speaking Cantonese at the meeting of the Chinese Benevolent Society of Vancouver this week, ranting about Meng's arrest.
So the Chinese government has explicitly moved to build support and establish ties with the BC Chinese business community. Which fits with how the CCP manage their own local business communities, and have used the Hong Kong, Macau, and even Taiwanese business communities to undermine political opposition and achieve their own political goals.
Greed knows no political boundaries, as Mao well knew. Deng just turned that fact on its head, and now Xi is seeing how far it goes.
Man Trump does not understand that you never say that stuff to the media. That is the kind of stuff that is suppose to come out decades later in a staffer's tell all biography.
Saying that stuff in the open, where it becomes part of the public conversation, is going to piss off the Chinese public and give Xi every reason not to negotiate.
"Orkses never lose a battle. If we win we win, if we die we die fightin so it don't count. If we runs for it we don't die neither, cos we can come back for annuver go, see!".
You're so fucking close, you asshole.
So close, yet infinitely far because the only thing that could bridge that gap is a spine.
If only so many Senators hadn't joined you to vote for a tax bill that did explicitly that...
That twitter thread is pretty fun, though.
"You voted for it moron"
In that Twitter thread, but it was just a spoof account.
You can see the poison pills in his words even while he seems to vaguely understand why so much of what he would be saying is appealing. They are hidden there..
1) expand and make permanent the provisions of the tax reform bill
2) prevent big labor from involving itself in political action
It's just a shell game designed to distract us from the republicans plans for more tax cuts and union busting.
"Big labor" hasn't been a thing for like thirty years but if these idiots keep talking about it they're liable to find it resurgent when working stiffs look it up and realize that unions are actually fucking awesome and the only way that they'll be able to get their corporate overlords to give a shit about them.
That won't change Taft-Hartley or Janus.
i increased my 401k contribution the last week of september.
sorry everyone.
At this point I think every major indices had had it's 20 day rolling average fall below it's 52 day average. Which, the stock market is not the economy, but that's not good.
"Orkses never lose a battle. If we win we win, if we die we die fightin so it don't count. If we runs for it we don't die neither, cos we can come back for annuver go, see!".
I blame you for any losses to my 401K :P
In all seriousness, while I'm not wild about 401Ks because they definitely aren't as secure as pensions (though worth keeping in mind those aren't fool proof), not the end of the world for anyone that doesn't have plans to retire. It might bounce back by the time it's needed. Still not good and the current trend is still worrisome, given some of the other stuff we see going on elsewhere in regards to the economy.
battletag: Millin#1360
Nice chart to figure out how honest a news source is.
If nothing it shows people are not predicting the economy is going to continue doing well.
Pretty much every leading indicator is suggesting we're close to a Recession, but nobody knows how close. Meanwhile all the lagging indicators are still pretty solid if not great. Interesting times.
Yeah - I did my budget yesterday which includes updating some spreadsheet numbers of "this is the collection of the past two weeks on my retirement accounts." That part wasn't fun!
I think someone posted a link in the previous economy thread that showed there’s like an average of 22 months of stock market growth after yield curve flattening/inversion.
That doesn’t appear to be holding up here, but those types of metrics have correctly predicted 9 of the last 4 recessions or something 8-)
I invested for the first time in the last week of september.
I'd like to invent a time machine to go back and slap my past self in the face.
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But with the Tariffs, the Trump Tax Bill and Brexit we see people doing things they know are bad, that they know will destroy the economy, that they could stop. I feel if, for example, the trump tariffs were some kind of uncontrollable sea monster which was eating 2% of container freight off of boats then we'd already be in a massive recession, but everyone is just, hoping he gets rid of them. I don't know if we've ever had a recession before where we know IN ADVANCE the exact reasons it is happening, and also know that we could stop it!
Samesies!
Its prairiedogging
The company has actually an statement about it, surprisingly:
Meanwhile, the Chinese goverment slaver had this to say:
Apalling doesn't begin to cover it.
I seriously doubt that. Who sources 1% of any major product they sell
I guess I could be wrong, but why not just order your 0.5% of product from a larger supplier? Seems like even if it cost more, it'd be easier to ship bulk and not have to go through the logistics of dealing with another entity for a very minimal part of your line
It's easier for people to switch to other shitty cheap clothes than to switch out their iPhone. Apple can say fuck you and get away with it. They probably can't.
The garment industry often works like that. The company you know of designs the clothes, and then contracts to some larger manufacturers to make them. The larger manufacturers then look at the prices and the breakdown of the materials required, and outsources to their partner factories all over the world. The finished products then go to the central manufacturer and on to the designers.
In this case, its likely that they designed one or two products which were very low margin (likely addon items or things to bring a broader client base into the store) and insisted on a low manufacturing bid. As such, they ended up with stuff from a factory which wasn't their usual place, and was instead slave labor in China.
aahhh gotcha
https://www.cnbc.com/2018/12/17/worst-start-to-december-for-the-stock-market-since-great-depression.html
It could come around I guess by the end of the month but still.
This has actually been an issue with cleaning up the garment industry. I mean, one can and probably should be pretty cynical about how hard most of these companies are trying, but it's actually genuinely not simple to make sure there's no slave/child labour in your supply chain because of how many layers there are between the company and the actual factories that make shit. You contract to one company that contracts to another that contracts to another and like 3 layers deep you've got 10 year olds making your jeans. And of course, even if you do find out what's going on, it's then gonna cost you money to do anything about it. Almost certainly raising the price of producing your clothing to police it and insure it's coming from sources not doing X bad practice.
like for me? so what if there's a recession? I'm going to keep spending like I haven't had a cost of living increase in a decade because I haven't had a cost of living increase in a goddamn decade.
It could also mean that they literally just made certain buttons or something.
If there is a recession, the banks will drive down interest rates again. If they drive down interest rates again, your frugal ways will be punished, as you won't be able to earn interest on your savings.
In addition, the slight pressure there is to increase wages and better working conditions right now will fade away.