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newspaper - tuttosport - 18 maggio 1953 - advertising (18)
newspaper - tuttosport - 18 maggio 1953 - advertising (14)
newspaper - tuttosport - 18 maggio 1953 - advertising (17)
cnModes Royale
©1917 Kellogg's Corn Flakes Magazine Ad. Art by J.C. Leyendecker.![Wed, 2024-09-18 11:15 - “Nature makes no mistakes in her ‘inventions.’ Among the million or so things she ‘invented,’ were feet for our Adamite ancestors to walk on – and toes to make walking sure.
“Then she calloused and hardened those toes into durable, tough ‘nobs’ which gave primal man a good, tenacious grip on the ground.
“Since Nature makes no mistakes, we made no mistake when we copied her and invented the ‘Nobby’ Tread. Tough, resilient callouses that grip the ground with all the tenacity of Adamite toes. . .” [Ad copy]
[Note: The term “Adamite ancestors” in the ad likely refers to descendants of Adam, as in Adam and Eve from the Bible. However, the term also has a more specific historical context. The Adamites believed they had regained the primeval innocence of Adam and Eve before the Fall. They practiced nudism during their religious assemblies, rejecting marriage and other social norms, which they saw as unnecessary in their state of regained purity. This sect was often considered heretical by mainstream Christian authorities.]](https://live.staticflickr.com/65535/54004884213_699beaae6d_q.jpg "Wed, 2024-09-18 11:15 - “Nature makes no mistakes in her ‘inventions.’ Among the million or so things she ‘invented,’ were feet for our Adamite ancestors to walk on – and toes to make walking sure.
“Then she calloused and hardened those toes into durable, tough ‘nobs’ which gave primal man a good, tenacious grip on the ground.
“Since Nature makes no mistakes, we made no mistake when we copied her and invented the ‘Nobby’ Tread. Tough, resilient callouses that grip the ground with all the tenacity of Adamite toes. . .” [Ad copy]
[Note: The term “Adamite ancestors” in the ad likely refers to descendants of Adam, as in Adam and Eve from the Bible. However, the term also has a more specific historical context. The Adamites believed they had regained the primeval innocence of Adam and Eve before the Fall. They practiced nudism during their religious assemblies, rejecting marriage and other social norms, which they saw as unnecessary in their state of regained purity. This sect was often considered heretical by mainstream Christian authorities.]")
©“Tire Toes” ad for United States Tires in “The Saturday Evening Post,” April 21, 1917.You are here
Who is Lending to China?
With all the talk about China financing the US debt, one would think the Chinese are running a budget surplus. They’re not. The Chinese government appears to be afflicted with neo-Keynesian foolishness, too:
China announced Thursday a fiscal deficit budget of 950 billion yuan (139 billion U.S. dollars) for 2009, a record high in six decades, as the country boosts spending to cushion the impact of the global financial crisis.
The total deficit accounts for less than 3 percent of China's gross domestic product (GDP), said Premier Wen Jiabao at the opening of the parliament's annual session.
Despite the deficit surge, China's constant deficit drops in previous years provide room to issue more bonds this year, said Wen in his government work report to the second session of the 11th National People's Congress (NPC).
Their deficit is currently less than 3% of GDP, compared to the US at 12% and rising. At 3%, the Chinese deficit may be within a range where Keynsian theory can appear effective. But the Chinese apparently aren’t following the theory anyway.
Neo-Keynesians recommend budget deficits during recessionary times to counteract diminished consumer demand. The article, however, reports that China has been running a persistent deficit during all the 2000s boom.
So, if China has been financing US debt, who has been financing the Chinese?