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Page added on January 16, 2019

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Waking up from the Chinese dream

Consumption

There have been better starts to the New Year. The December Caixin Manufacturing PMI, a survey of Chinese manufacturing activity, contracted for the first time in 17 months. Soon after, reports began to emerge that China’s growth target will be lower than that set for 2018.

Apple, once the world’s most valuable company, sent shock waves across financial markets. It revised down its earnings for the end of 2018 citing an economic slowdown in China that was significantly greater than they had anticipated due to weak demand and the impact of trade tensions with the US.

While the dispute with the US has undoubtedly affected sentiment, with December data showing trade to the US weakening, over most of last year Chinese exports to the US were actually very strong. Exports to the US grew 11% in dollar terms in 2018 and it was government efforts to rein in the growth of credit that had a greater direct impact on the economy. As liquidity tightened last year sales of real estate and automobiles turned negative as companies and individuals found it harder to borrow money.

The chart below shows that as credit – represented by Total Social Financing – tightened last year  sales of real estate and automobiles turned negative as companies and individuals found it harder to borrow money.

Credit drives Chinese auto, housing sales

Out of the shadows

Since the financial crisis China has been increasingly reliant on debt to maintain economic growth. At the start of 2009 Chinese credit to the non-financial sector – debt owed by the government, households and companies – was slightly more than one and a half times the size of the economy. By the end of 2018 this had grown by 65% to more than two and a half times GDP. This is much faster than any other major economy. Even Japan, the world’s most leveraged major economy, only saw debt as a percentage of GDP grow by 14% over the same period.

It’s little wonder that the authorities were concerned. Such was the vulnerability of the economy to this rapid accumulation of debt, that starting mid 2016 the government has been engaging in a process of deleveraging the industrial sector and tightening credit across the economy.

Last year saw a particular focus on curtailing lending by China’s shadow banks, financial companies outside the conventional banking sector that engage in bank-like lending activity. Not all shadow bank activity is, well, shadowy. But there is little transparency around their activity or the potential risks that they might pose the financial system, and some shadow banking activity has been significantly curtailed by the most recent credit tightening cycle.

This has had little effect on the large state-owned enterprises that dominate the energy and commodity sectors. Their links to the state-owned banks mean they have little problem obtaining finance. The impact has been greater at smaller, private, companies down the value chain like metals fabricators, traders, and even independent refiners which are unable to easily obtain credit from the state owned banks. Already contending with tighter environmental inspections, a clampdown on tax evasion, as well as slowing demand, tighter credit conditions have caused a wave of bankruptcies across the private sector.

Real estate to the rescue

A move to shut down online peer-to-peer lending platforms, a small but fast growing part of the shadow credit sector, has also constrained consumer access to finance. With analysts estimating that peer-to-peer lenders financed as much as 15% of new vehicle sales in 2017, the contraction in the sector was a major contributor to the sharp fall in sales in the second half of last year.

Indeed 2018 was the first year in decades that new car sales were down on the previous year, impacting demand for flat steel and gasoline. With the government announcing that it will not provide relief to the auto sector by cutting purchase tax for passenger vehicles as it did in 2015, gasoline demand is expected to continue to be weak. Platts Analytics expect Chinese gasoline demand to grow at under 3% in 2019,  down from 6% in 2017.

Given this backdrop, it was somewhat surprising that the property market, that bellwether of the economy, was so resilient last year. It underpinned steel demand which grew at a robust 8% over the previous year in the first eleven months of 2018. With the clampdown on P2P lending platforms and a 30% fall in the Shanghai Composite index, money flowed into investment property last year, especially in smaller cities where there are fewer restrictions on purchasing investment properties. But with prices softening and home sales falling the outlook is less optimistic for 2019. This appears to have been priced into the steel market where the price of construction rebar has fallen by nearly 20% since the end of October.

Chinese steel prices weakened in late 2018

Did someone say stimulus?

As we move into 2019 the signs are that the government will continue down this ascetic path. It has approved $125 billion of new rail projects and will free up an estimated $117 billion for new lending by cutting the amount of cash banks are required to hold on reserve. But the effect of this on the economy and commodity demand may well be more muted than the headline numbers might suggest.

The government has announced a range of tax cuts to support the economy, especially small businesses. Some tinkering around the edges to support the property sector, like the lifting of some of the restrictions on secondary property purchases in larger cities, also seems likely. And policies to increase passenger cars and white goods are also imminent, according to comments by an official from the National Development and Reform Commission quoted by Chinese media last week.

In early January, some analysts were calling for stronger measures from Beijing to boost the economy. But the government is likely to tread carefully so as to channel any new lending to support smaller, private sector enterprises, not fuel a speculative property bubble as it did in 2012 and 2015.

The question is whether the government can stay the course on its debt reduction goals. An early resolution of the trade dispute with the US would certainly provide some relief to the economy and help mitigate some of the spillover from the tighter credit conditions.

The government has only just finished cleaning up the mess left over from the last decade of credit excess which left the country with industrial overcapacity and a glut of unwanted property. Another credit splurge would see debt compared to the size of the economy rise beyond even that of the Eurozone. Only Japan’s economy would be more leveraged, and China certainly doesn’t want to go down that path. Japan’s economy has gone virtually nowhere since the 1990s.

Platts



54 Comments on "Waking up from the Chinese dream"

  1. JuanP on Wed, 16th Jan 2019 7:25 am 

    I am back, bitches! I just got back from a surfing vacation in Costa Rica. I am recharged and refreshed, and ready to continue fucking with the Exceptionalist for the foreseeable future.

  2. JuanP on Wed, 16th Jan 2019 8:12 am 

    “US mindset can’t comprehend PLA”
    http://www.globaltimes.cn/content/1136020.shtml
    Isn’t US mind an oxymoron? Oris it a contradiction in terms? If there ever was a brain dead, mindless country, the USA is it! ROFLMFAO!

  3. JuanP on Wed, 16th Jan 2019 8:20 am 

    Is the USA acting hysterically towards China?
    http://www.globaltimes.cn/content/1136020.shtml

    We all know one delusional American Exceptionalist who has been ranting hysterically about China for years. ROFLMFAO!

  4. Antius on Wed, 16th Jan 2019 8:22 am 

    It would appear that China is hitting its peak. The great global unravelling is beginning and the land of sweet and sour chicken appears to be the flashpoint.

    On the plus side, it means that Makati gets to live out the last decade of life, saying what he likes on the internet, without a rifle pointing at his back. There are silver linings to everything I guess.

  5. JuanP on Wed, 16th Jan 2019 8:39 am 

    Antius “It would appear that China is hitting its peak.”
    Some thngs have peaked in China. Its population, car sales, and IPhone sales. Its economy and military power are still growing faster than all its enemies’. All those peaks are positive peaks IMO.
    Antius, I wish you talked more about things you really know like science and the UK. If you wrote more about Brexit and the UK your comments would be more valuable because that is where you are from. You obviously don’t know much about China other than all the BS published in Western MSM.

  6. JuanP on Wed, 16th Jan 2019 8:43 am 

    But, Antius, you are welcome to bash China if it helps you feel better about the mess England is in. Davy has been bashing China daily for more than five years! I think the USA and England will fall as hard or harder than China. China has an effective, functional government, the USA and England do not! I think you are projecting like Davy! LOL!

  7. Davy on Wed, 16th Jan 2019 8:50 am 

    JuanP, I am balanced you are not. You and your cohorts cover the decline of the US plenty well. This site covers the US predominantly. I add in the necessary POV on China and Europe. You as a miserable extremist anti-American can’t stand that. In fact you and your group, that now has largely dissolved, only cover anti-American topics. I have done this forum a great service by balancing your extremism. Thank you, asswipe. Besides, whenever you are on this board it is a mess. You are a stupid hypocritical egotistical dumbass who wants everyone to think he is smart. You are not smart Juanpee you are just a load mouth.

    BTW, are you capable of saying anything besides “projecting” dumbass

  8. JuanP on Wed, 16th Jan 2019 8:55 am 

    Delusional Davy “I am balanced”
    ROFLMFAO! You couldn’t possibly more delusional. If you think you are balanced then you are 100% disconnected from reality. You are the most unbalanced and biased person I have interacted with in my whole life! LOL! I couldn’t possibly make shit like that up!

  9. JuanP on Wed, 16th Jan 2019 8:57 am 

    Delusional Davy “I have done this forum a great service by balancing your extremism.”
    Do you actually believe that crap? That is simply more proof that you are 100% delusional.

  10. JuanP on Wed, 16th Jan 2019 8:59 am 

    Delusional Davy “Besides, whenever you are on this board it is a mess. You are a stupid hypocritical egotistical dumbass who wants everyone to think he is smart. You are not smart Juanpee you are just a load mouth.”

    Projecting much, Exceptionalist? ROFLMFAO!

  11. JuanP on Wed, 16th Jan 2019 9:01 am 

    Delusional Davy “BTW, are you capable of saying anything besides “projecting” dumbass”
    Your projections are so funny and self evident that they crack me up, Davy! I like posting them again to make people laugh. You are ridiculously funny, Exceptionalist! ROFLMFAO!

  12. Davy on Wed, 16th Jan 2019 9:08 am 

    The above is not worth my time say something debatable above your childish emotional level.

  13. Anonymouse on Wed, 16th Jan 2019 9:24 am 

    The exceptionalturd has in fact, been receiving his regular doses of neutering and moderating. No worries on that front. How do we know his neuterings are actually working?

    The dumbass keeps declaring victory over and over again.

    Anyhow, looks like friuitloops here just put his sock I AM THE DAVYTURD to ‘sleep’ not too long ago. Now the delusional one is the dominant dumbass for the rest of day. Fun. Or until I AM THE DUMBASS takes control again.

    I would have said dominant *personality* if the davytard was actually human, or had a personality, but, ah, no.

  14. Davy on Wed, 16th Jan 2019 9:29 am 

    Another brain dead non contributor. Anon talk about
    Stupid getting in the way of facts. Tell us again about how Americans are responsible for he Canadian tar sands. LMFAO. What a stupid millennial you are. Did you finish school?

  15. Sunspot on Wed, 16th Jan 2019 10:33 am 

    Just in case anyone here cares about facts – and I see little evidence of that, lol… – the FACT is that while it is true that China’s annual population increase is shrinking, their population is still GROWING, not declining: http://www.worldometers.info/world-population/china-population/

  16. Darrell Cloud on Wed, 16th Jan 2019 11:36 am 

    I was in China last summer. It runs on coal and oil. There in lies its limit to growth. The great wall was amazing. Considering the fact that their over all IQ is higher than ours, it is not surprising that the built one.

  17. Cloggie on Wed, 16th Jan 2019 1:39 pm 

    May survived no-confidence vote, as expected.

    Now BBC interviews Rees-Mogg, points at “opportunities” within no deal. It is obvious what these “right-wing” Btexiteers want: copy America, make a low-tax, low-wage, low social security business and oligarch paradise out of Britain, with giant mansions and large run-down areas.

    Interesting observation: the British media are getting fed up with British politics and begin to act rationally and responsible.

  18. Davy on Wed, 16th Jan 2019 2:21 pm 

    “America, make a low-tax, low-wage, low social security”

    We are as wealthy as you are clogged and much more dynamic. Who is in recession BTW! Lol

  19. Cloggie on Wed, 16th Jan 2019 2:54 pm 

    We are as wealthy as you are clogged and much more dynamic. Who is in recession BTW! Lol

    That’s because of the dollar reserve currency status, adding 35-40% undeserved GDP, based on your murdering spree in WW2, that is now about to be revenged. Expect that to evaporate over the coming decade as countries all over the world gradually eliminate the dollar from international payments.

    Define “much more dynamic”? In reality you have lost the competition with the rest of the world. You have the largest trade deficit, indicating that you have trouble making products the rest of the world wants.

    The only ones who are wealthy are the 1% oligarchs, the average population not so much.

    Median income:

    US $50k
    Italy $122k

    Furthermore, you are on the brink of CW2.

    https://www.theamericanconservative.com/articles/the-civil-war-on-americas-horizon/

    But for moneyman like you, only finance and economy matters and recession are seen as the end of the world.

  20. Davy on Wed, 16th Jan 2019 3:06 pm 

    Davy on Wed, 20th Aug 2014 6:59 am

    “When I go to Italy I am impressed with the high standard of living. When I say standard of living I am not saying this from a business or economist point of view. I see it from how people live. I see how they treat the land. I see it in what they eat.”

    “Europeans have one of the highest standards of living in the world in relation to a quality of life from the basics. They are an efficient people.”

    “They chose to take more time off and enjoy life instead of working like a dog to buy some needless toy like an American might or being forced by a harsh business environment to work instead of enjoy some roses.”

  21. Davy on Wed, 16th Jan 2019 3:14 pm 

    I am happy you found such a great comment dirty juanpee. I fail to follow your low IQ point. Is that supposed to upset me. Lol. What a high schooler.

  22. makati1 on Wed, 16th Jan 2019 5:40 pm 

    Welcome back JuanP. You were missed. Davy had one less intelligent person to put down and rant against. He was having arrogance withdraws.

    Delusional Davy/MOB cannot admit that China is doing much better than the US, and will continue to do so for the reasons you stated. They have a functioning government and plan years and decades ahead. Not to mention much more gold than they advertise.

    The US is so hypocritical it shows in flashing neon lights. Ditto for Davy.

  23. makati1 on Wed, 16th Jan 2019 5:55 pm 

    “I was in China last summer. It runs on coal and oil. There in lies its limit to growth.”

    “The hefty imports were spurred by another year of strong demand growth for the cleaner-burning fuel as Beijing extended a campaign against smog by switching another 3 million of homes to gas from coal for winter heating.” (2019)

    https://www.cnbc.com/2019/01/13/reuters-america-update-1-china-dec-crude-imports-at-2nd-highest-gas-imports-at-record.html

    “Russia’s Huge Natural Gas Pipeline To China Nearly Complete” (Sept.2018)

    https://oilprice.com/Latest-Energy-News/World-News/Russias-Huge-Natural-Gas-Pipeline-To-China-Nearly-Complete.html

    Better keep up with the world, Darrell. China plans ahead. Russia will gladly supply all the resources China needs.

  24. makati1 on Wed, 16th Jan 2019 6:00 pm 

    Juan, don’t leave me again. I got my ass handed to me when you were gone. I need dirty behaving people like you to help me along. You are not much on debate but you sure are good with being dirty

  25. Anonymouse on Wed, 16th Jan 2019 7:20 pm 

    Fake post @ 6:00 c/o Delusional Davytard.

  26. The United States of America on Wed, 16th Jan 2019 8:23 pm 

    Davy, we don’t want you in our country anymore. You’re giving the rest of us a bad name. Please relocate to your European estate ASAP, and leave all the money your one percenter family scammed from the rest of us behind.

    Good riddance dip shit.

  27. The United States of America on Wed, 16th Jan 2019 8:31 pm 

    And take your Nazi friend Trump with you.

    Fuckhead

  28. makati1 on Wed, 16th Jan 2019 8:32 pm 

    Fake: makati1 on Wed, 16th Jan 2019 6:00 pm

  29. JuanP on Thu, 17th Jan 2019 6:45 am 

    Following what Bloomberg calculated was a record net reverse repo liquidity injection on Wednesday, when the PBOC injected a whopping 560 billion yuan of liquidity into the financial system via open market operations, the Chinese central bank has done it again and in Thursday’s open market operation, it sold 250BN yuan in 7 Day repos (slightly below yesterday’s record 350BN), and 150BN in 28 Day repos, which net of maturities resulted in a whopping net 380BN yuan ($56.2BN) liquidity injection. This brings the net liquidity injection this week to a near record 1.14 Trillion yuan (Monday 20BN, Tuesday 180BN, Wednesday 560BN and Thursday 380BN) and the week is not even over yet – should tomorrow’s reverse repo be of similar magnitude, then this week will go down in history as China’s biggest liquidity injection on record.

    There is, of course, a much simpler explanation: with Chinese economic and trade data turning from bad to worse with every passing day, Beijing’s response is increasingly one of a panicked “spasm”, as Nomura’s Charlie McElligott wrote today when he noted that with regard to the response of Chinese authorities in addressing their economic slowdown and credit crunch, “it had to get worse before it got better”—recently collapsing Chinese data has now clearly forced an escalation of easing-/stimulus-/liquidity- policies

    https://www.zerohedge.com/news/2019-01-16/china-injects-gargantuan-11-trillion-liquidity-week
    China Injects Gargantuan 1.1 Trillion In Liquidity This Week

  30. Davy on Thu, 17th Jan 2019 7:06 am 

    Weeeee! This is so much fun!!! I’m squealing like a widdle girl!!!

  31. JuanP on Thu, 17th Jan 2019 7:21 am 

    I am back, bitches! I just got back from a surfing vacation in Costa Rica. I am recharged and refreshed, and ready to continue fucking with the Exceptionalist and his multiple personalities for the foreseeable future.

  32. Tamila on Thu, 17th Jan 2019 9:09 pm 

    A year and a half ago I flew from Beijing to Berlin for work. I can say that the Internet service is not comparable at all. And this is a very serious indicator. Both cities are one of the 5 largest tech hub in the world, and here you can see how it affects real estate prices: https://tranio.com/articles/top-5-global-tech-hubs-a-paradise-for-property-investors/

    China is investing in technology, and that’s a smart way to go.
    Also China has general passion for foreign property, you know what I mean… The Chinese bought property in Europe, obtaining Golden visas and residence permits; after Brexit, the Chinese began to buy property in London.

  33. Cloggie on Fri, 18th Jan 2019 12:18 pm 

    Uh-oh, Bregret!

    https://www.dailymail.co.uk/news/article-6607317/Poll-finds-half-Brits-want-STAY-EU-Mays-Brexit-plan-defeat.html

    “Remain is 12 points ahead of Leave in new poll of how Britons would vote in a second Brexit referendum after May’s crushing defeat”

    56-44

    The great identity question for Britons these days. What are we?

    – Europeans?
    – Globalist Anglos?

    Lot of work to do for Boris Johnson!

    Chamberlain-2.0 (PM May) vs Churchill-2.0 (BoJo)

  34. Anonymouse on Fri, 18th Jan 2019 3:02 pm 

    No one really cares about it cloggenturd. And if they did, they can find out about it on their. No one needs your ‘help’ keeping up on the matter, if they care to at all, or your jew-stream media links. The only person here, that brings the matter up (at all), is, surprise, you. And no one else. Why is that cloggenkike? Could be it, no one else really gives a shit?

  35. Davy on Fri, 18th Jan 2019 3:14 pm 

    Anon, I am wondering if you are just a bot. You click on about the same time every day saying the same thing then you are gone like clock work. If you are not a bot you definitely are a troll and contributing noise. I see why you and stupid Juan are best buddies.

  36. Boat on Fri, 18th Jan 2019 3:46 pm 

    Deport JuanP from my country, bitches.

  37. Anonymouse on Fri, 18th Jan 2019 7:19 pm 

    Exceptionaltard, I am wondering if you are just a bot. You click on about the same time every day, from sun up to sun-down, and you never leave. If you are not a boat….bot you are definitely a dumbass troll and contributing noise. I see why you and stupid cloggkike are best buddies.

  38. Davy on Fri, 18th Jan 2019 10:00 pm 

    I work for the US ZOG bureau of disinformation dumbass. You must be exceptionally stupid if you haven’t been able to figure that out yet. MOB works in the cubicle next to me and sometimes we trade off during breaks and/or time off. Personally I don’t take any time off ever cause I don’t have a life. MOB has a girlfriend.

  39. Davy on Fri, 18th Jan 2019 10:22 pm 

    BTW. MOB is my supervisor and he SAYS he has a girlfriend. I havn’t met her but he says she’s Jewish. That’s good enough for me.

    Dumbass

  40. Cloggie on Fri, 18th Jan 2019 11:18 pm 

    I’ve just recently come out of the closet and I must say it’s very liberating. Now I can walk straight into gay bars without having to hang out around toilet blocks for pick ups. You must try it Davy!

  41. Cloggie on Fri, 18th Jan 2019 11:54 pm 

    Lucky I’m in a LGBT tolerant country otherwise my skinny white cracker ass would be toast in them Arab countries

  42. not me on Sat, 19th Jan 2019 5:20 am 

    Davy on Fri, 18th Jan 2019 10:00 pm
    Davy on Fri, 18th Jan 2019 10:22 pm

  43. Free Speech Message Board on Sun, 20th Jan 2019 2:26 am 

    The USA is collapsing.

    The US is in debt, is conducting multiple wars, is a police state, is flooded by illegal immigrants, and has become immoral.

    Americans are either ignoring the decay or think that nothing can be done to stop the decline. Almost no one thinks the US can be saved.

    No one appears to be worried about tyranny because liberals think the police state only applies to conservatives and conservatives think the police state only affects liberals.

    The truth seems to be that the elites want to wipe out the strong white men and plan to send the weak liberals to the gulags where they will be starved and killed. The 1% will then divide the wealth and land of the US among themselves.

    How else can you explain the destruction of the USA? Economics isn’t rocket science. If you want a strong economy, don’t punish hard work with taxes and regulations while rewarding laziness with welfare and allowing millions of 3rd world immigrants to flood the country.

    http://www.americanthinker.com/articles/2014/12/psychopathy_and_politics.html

    Those fail to learn from history are doomed to repeat it.

    Sadly Americans won’t realize what is happening until it is too late.

    Never underestimate the inhumanity of man towards man. Greed has no bounds.

    Wake up.

    Think.

    Pass the word.

  44. Cloggie on Sun, 20th Jan 2019 6:11 am 

    In the Winter 2019, my favorite brunch is coffee with British newspapers:

    Every British “have” fears comrade Jeremy Lenin:

    https://www.dailymail.co.uk/money/experts/article-6610789/How-guard-wealth-Comrade-Corbyn.html

    “How to guard your wealth from Comrade Corbyn…just in case Labour comes to power”

    Mr Brexit Farage fears that “Leave” is in danger and is prepared to go back into politics:

    https://www.dailymail.co.uk/news/article-6612015/Nigel-Farage-adopts-brand-new-pro-Brexit-party.html

    “Nigel Farage backs new BREXIT PARTY and warns Theresa May he will ‘step back into the fray’ to defend Leave vote if exit is delayed”

    He won’t return to UKIP, that is now flirting with British white nationalism, which Farage condemns. He never was a “blood-and-soil” Englishman, but always an English globalist businessman.

    May and her strategy get a boost as a major no-dealer switches sides:

    https://www.dailymail.co.uk/news/article-6611129/Enter-Mogg-peacebroker-Help-save-Theresa-Brexit.html

    “Enter Mogg the peacebroker: Help me to save Theresa May and Brexit, says hardliner in stunning about turn as No10 braces for snap poll”

    May’s offer: I’ll resign, so you Brexiteer hotheads can fight over who will become my successor, if you back my deal first.

    Parliament threatening taking over government from government:

    https://www.dailymail.co.uk/news/article-6611461/Downing-Street-warns-concerning-moves-rebel-MPs-TWO-groups-try-frustrate-Brexit-plans.html

    “Downing Street warns of ‘extremely concerning’ moves by rebel MPs as TWO groups try to frustrate Theresa May’s Brexit plans with amendments”

    May doesn’t want to block a no-deal, because she wants to use that possibility as a threat to line up Remainers behind her deal.

    “Britain on the brink of serious civil unrest”, says Tory MP:

    https://www.dailymail.co.uk/debate/article-6611581/Tory-MP-tells-DAN-HODGES-hes-loading-shotgun-amid-fears-Britain-brink-civil-unrest.html

    “Conservative MP tells DAN HODGES he is ‘loading my shotgun’ amid fears Britain is on the brink of civil unrest”

    Greatest EU asshole opines:

    https://www.dailymail.co.uk/debate/article-6611487/Lock-room-agree-EU-Brexit-boss-GUY-VERHOFSTADT-haughty-intervention.html

    “Lock them in a room until they agree: EU Brexit boss GUY VERHOFSTADT in a typically haughty intervention”

    (he’s right btw)

    UK-Gaullists for Europe:

    https://www.dailymail.co.uk/debate/article-6611593/BLACK-DOG-Dominic-Grieves-plots-family-foible.html

    “BLACK DOG: Are Dominic Grieve’s plots a family foible after his father’s exploits in the Second World War?”

  45. makati1 on Sun, 20th Jan 2019 6:23 am 

    Cloggie, do the British still wrap their “fish & chips” in their newspaper or is that history also? Just curious.

  46. Davy on Sun, 20th Jan 2019 6:39 am 

    You are a friggin loon clogged with your brexit obsession.

  47. Davy on Sun, 20th Jan 2019 7:01 am 

    Clogged, I have some good news for you. I had some DNA analysis done. I am a majority German and Dutch. I also have Britch Islander and a smaller amount of East European. I am 99.9% European with no Ashkenazi Jewish ancestry. LOL. Have you check yourself out?

  48. Cloggie on Sun, 20th Jan 2019 7:12 am 

    “Cloggie, do the British still wrap their “fish & chips” in their newspaper or is that history also? Just curious.”

    https://youtu.be/lvZ3a6IHgpE

    The Dutch have some peculiar fish habits too:

    https://youtu.be/87gqRKCJyJM

    But nothing beats the jewish “gefillte fish” routine. Perhaps mobster can elaborate on that one.lol

  49. Cloggie on Sun, 20th Jan 2019 7:29 am 

    “Clogged, I have some good news for you. I had some DNA analysis done. I am a majority German and Dutch. I also have Britch Islander and a smaller amount of East European. I am 99.9% European with no Ashkenazi Jewish ancestry. LOL. Have you check yourself out?”

    OK, so your Czech father is not your real father?

    German-Dutch, eh?
    Well, it certainly explains your big mouth.lol

    No need for a check, I know exactly who I am: protestant Saxon-Dutch, going back all the way to the Reformation.

    Father: https://en.wikipedia.org/wiki/Twente
    Mother: https://en.wikipedia.org/wiki/Achterhoek

    Well at least you know where your home is, “after the break”.

    So I have to design a re-Dutchification program for you?

    Let me see… Here is a song I learned at school around 1960. Now it is considered as “too racist”. There we go:

    https://nl.wikipedia.org/wiki/Wien_Neêrlands_bloed

    Wien Neêrlandsch bloed door d’aderen vloeit,
    Van vreemde smetten vrij,

    “Who has Dutch blood running through his vains,
    Free of foreign impurities“

    How about chewing on that one first.lol

    Good luck!

  50. Davy on Sun, 20th Jan 2019 7:52 am 

    “OK, so your Czech father is not your real father?”
    Well, shows how much you understand about DNA. He is likely more Sudeten German and less Eastern European than he thought.

    “German-Dutch, eh? Well, it certainly explains your big mouth.lol”
    Exactly and probably why I enjoy moderating you.

    I forgot to mention there is Scandinavian in me too. A little less than the Eastern European.

    I did this for health reasons. If I have a disease issue related to genetics I would like to know.

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