Will US’s declining economy affect Hong Kong?

The US Bureau of Labor Statistics announced that 227,000 new nonfarm payroll jobs were created by the economy during February. Is that true? Of course not!

Job lost by unreported business failures were not counted; the BLS’s estimate comes from the bureau’s “birth-death model” which delivers erroneous results during troubled times. 9 million people without jobs have been removed from the labor force simply by the government defining them as not being in the labor force anymore.

The vast majority of the new jobs are low-paying jobs, except for a few truck driving jobs. The US has nothing to export to reduce its massive trade deficit, which has, sooner or later, disastrous implications for the U.S. dollar. Middle-class-income jobs are declining, with polarization at the two extremes. U.S. economic policy continues to focus on the mega-rich at the expense of 99 percent of the population. Interest rates are kept at near zero in order to maximize mega-bank earnings while depriving tens of millions of retired Americans of interest income on their lifetime savings; hence, forcing them to spend their capital in order to live. America is no longer the land of the free and independent. It is the land of the 1 percent global Elite.

Furthermore, as result of back-room deals between union bosses and their tax-and-spend Congressional puppets, compulsory unionism provisions in federal law currently empower union officials to:

• Force nearly 11 million Americans to pay tribute to a union boss to get or keep a job
• Brazenly loot union treasuries to fund the election of their hand-picked political puppet candidates like …
• Terrorize workers and communities with violent strikes -- where they get away with beatings, arson -- even murder.

Every year Big Labor siphons over $8 BILLION from workers' paychecks; mostly from workers who, if they refused to pay, would be fired from their jobs.

Hope you can get a glimpse of the US labor calamity as their economy is in a spiral and Hong Kong dollar is pegged to their declining currency. The occasional up of the dollar is nothing more than the elite’s manipulation and it is very temporary indeed.