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Joined 1 year ago
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Cake day: October 11th, 2023

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  • Why are there foreign judges serving in Hong Kong?

    It is a holdover from Hong Kong’s past as a British colony. After the UK handed Hong Kong back to China in 1997, the agreement between the countries stipulated that the special territory would continue to operate with its freedoms and systems for 50 years- including its common law legal system which operates in several other jurisdictions worldwide. Currently there seven foreign judges remaining on the court– three British and four from Australia.

    So, foreign judges who are meddling in HK affairs are upset that China (the inheritor of HK) is meddling in HK affairs?

    If the West actually cared about HK independence, why do they wish to maintain colonial judges in HK courts? If they cared, shouldn’t HK judges be in HK courts?

    While China has been heavy handed in its effort to speed up the timeline of the power transfer, in the end, the West has concluded that HK is to be Chinese territory. By the West’s own policy, these are foreign judges getting kicked out by the “rightful” new rulers, just a bit early.







  • the number of Americans who own 401(K) investments, which benefit from better stock index performance, has increased significantly in recent years

    This is the same as saying lots of Americans have bank accounts. The accounts could be empty.

    the US cooled inflation down to that level far faster than other Western economies (e.g. the UK and Eurozone)

    The US did not experience the same economic effects as the UK. The UK performed Brexit which raised the cost of goods by definition, and had their price of fuel skyrocket due to the effects of the Russia-Ukraine war. The US is not dependent on Russian oil.

    wage growth has actually outpaced inflation in recent years

    EDIT: Wages with respect to productivity have been stagnant since 1970, but today’s average worker produces far more value for their employer. Employers are not sharing their increased profits with their workers, who are making roughly the same as workers from 1970. So yes, workers got a very slight real increase in pay, but are still vastly underpaid.

    The inflation rate measures the price change of a basket of household goods

    No, it doesn’t. That’s the consumer price index.

    employers are more willing to be generous with pay raises when the economy is good. In short, people credit increases in wages to their own hard work but blame inflation on the Government.

    No, increased wages are not because bosses decided to be nice. Corporate profits reached records during the pandemic, paying more reduces profits. Unions and displays of labor activism in the US have expanded significantly in the past few years. People are demanding higher wages from their employers. The entire purpose of the Federal Reserve is to combat inflation. Action by the government is the only way to control inflation.

    Economists are not stupid.

    That’s debatable, but some are certainly self-serving.

    Tell me how high interest rates benefits those who have to borrow money for school, medical expenses, a car, or a first home.