China And Our Debt
Nov 23rd, 2009 by The Outsider
When someone wants something, they usually go to the place that can deliver. When someone is in financial trouble, they usually go to the loaner and cry about how bad off they are and ask that they can pay later. This is what Obama did when going to China, at least in my opinion. Why else would he go to China when they hold so much of our debt? The only thing we have is American hard and soft assets to sell since the Chinese don’t want to buy more of our debt as Hillary tried earlier. Just what would those assets be? I’ll give some examples.
1. Land.
2. Intellectual property, including our technology.
3. Corporations producing products that we need or want.
4. To export more of their products to us.
Fact: The Chinese already own much of our property. They have much of our technology, given to them by president Bill Clinton. Much of this was missile guidance technology that Clinton’s defense secretary said was dangerous. Bill didn’t take his advice and the secretary resigned. That absolutely happened!
We have companies that would love to set up shop in China and many already are. Remember, Bill Clinton pushed for and signed GAT. Our companies can not compete with the Chinese for a number of reasons. Our unions, high wages and government pollution mandates that the Chinese don’t have. Did Obama address this when he was in China? I’ll bet he didn’t, along with human rights issues. The loss of American jobs can’t possibly be reduced with this scenario. Obama is creating money like he has his own printing presses! He does! He is spending money like he expects us to switch to a currency that has more value, like the Euro.
So I wonder what kind of deals Obama made with the Chinese? Was he begging them to buy more of our growing debt? They scolded him for spending too much of “their” money on his proposed health-care plan.
Bottom Line: China is sitting in the drivers seat and we are under the wheels, thanks to our government! The next time we vote, we should think about our children instead of just ourselves.