Every day reminds us how important the election of November 2008 will be. This frightening example of ‘the new world order’ and globalization illustrates how dangerous it is to do business with the devil.
Stormy US-China ties seen amid trade tensions
US-China ties are headed for turbulence as combative US lawmakers threaten Beijing with punitive trade sanctions that could draw the ire of Chinese leadership.
A week of high-level talks in Washington failed to end their biggest dispute, Chinas undervalued currency, opening the prospect of a trade war between the world’s richest and the most rapidly growing nation, analysts said. The Pentagon warned Friday that cash-flush China was militarizing under an opaque budget and that Beijing’s ballistic nuclear missiles could now strike the United States…
Anti-China trade bills being drafted in Congress “could ultimately disrupt bilateral trade flows, and more importantly, capital inflows from China,” warned Bank of America strategist Joseph Quinlan.
“Americas financial sugar daddy” is China, because it has capital “for a nation that abhors savings, worships spending and is addicted to other peoples money.”
“While this is a worrisome development in and of itself, even more worrisome is that the United States has decided to play hardball with China over trade at a time when Americas financial dependence on that nation has never been greater,” Quinlan said…
Washington is also concerned China is spending its mountain of foreign reserves on its military. An annual Pentagon report on Friday said China could be “planning for pre-emptive military options in advance of regional crises.”
Hmph. The guy’s as full of crap as a Christmas goose. We have serious issues with China, and solving them will certainly upset the oh-so-delicate trade balance. Big deal. We’ve dealt with worse. If we keep pussyfooting with these chumps, we’ll end up in a far worse position later than we would now.
These chumps are screwing us seven ways from Sunday, and we’re sitting here thinking it feels good, or something. China is killing people (and critters) because of their uncaring arrogance. Are we so stupid that we think it’s a good idea to let them get away with it, lest we “offend” them?
Well, unfortunately, it appears that a goodly portion of our population is that stupid. Let’s hope we can overcome the idiocy of the masses (not to mention the politicians), and rise above this travesty. (I’m not holding my breath.)
Sigh,
Beldar
Bottom line is the nation is living beyond its means. We’ve got to produce and save more, and/or consume and spend less. That’s a message nobody wants to hear, and certainly one the politicians are afraid to tell us. So we bumble along until the problem reaches crisis proportions.
The folks at AFP got it off by 180 degrees. Or as we used to say in the Corps they are as* backwards.†Despite heavy US dependence on China…†is pure Bull Sh*t. They are dependent on us. The trade balance is not currency related it is related to barriers put up by the Communists. Which they mention in passing in the “report†saying.†China said it will not tolerate US trade sanctions after Washington hauled it before the World Trade Organization for copyright piracy and barriers to US music, films and books†They do not mention barriers to durable goods imports! Which is why GM, Boeing et. al. have opened plants there the last 20 years – plants with Commie Army having majority ownership but paying in realistic terms nothing for it. We can not ship our cars, planes, refrigerators, etc. into Communist China. That it the main reason for the trade imbalance that has been enormous for almost 18 years. The people who talk about currency have an axe to grind and it is a liberal/leftist axe. Just like the folks calling Amnesty a solution to illegal aliens problem. Neither is candid.