I am not at all surprised. The entire planet has a trade surplus with the US. This way, we get to eat world resources at a far higher rate than any other nations. But the downside is very obvious and totally horrible: we go deeper into debt, doing this. And the end result will inevitably be the financial collapse of our entire economic system and government.
Then our trade partners and allies will be able to take over all systems here and rule us. All profits will flow to them and we will be a low-wage workforce. And the US will be completely controlled by hostile powers who don’t care about us. As if Bush ever showed the slightest interest in keeping us alive. This is why he was so totally indifferent to the mass murders of 9/11, the hurricane drowning thousands in New Orleans and even the 400 people swept away in Texas in hurricane Ike. We are not important to him or his buddies who run the planet. It is too late to arrest Bush. But we can start yelling about the Democrats who now rule us.
Our new rulers profess to care about us. They are most anxious to give us more medical coverage. This is also so our manufacturing base no longer will have to provide personal health insurance to unions, for example. I have been for nationalized healthcare simply because all our trade rivals at the top ranks of international trade have this. We are the only major manufacturing nation without this service.
Simple competition compels us to imitate our rivals. This is the nature of competition. The US can’t stubbornly run an alternative universe system when all the top manufacturing nations are doing the exact opposite. There is a lot of fear of this in the ranks of unionized workers who got gold-plated health insurance. But they should be able to read the writing on the walls: it isn’t going to be going much longer. There is no escaping this. Status quo situations are tremendously dangerous. They are like quicksand. The more you thrash about, the deeper you sink.
And the US is stuck in a dynamic that is causing our nation to sink into the red ink quicksands of global trade. Now, let’s read the news about the G20 meeting by going to the communists of China, our future dominators:
World leaders vow to undertake coordinated action to tackle financial crisis:_Xinhua
“We are determined to enhance our cooperation and work together to restore global growth and achieve needed reforms in the world’s financial system,” said the leaders in a declaration issued at theG20 summit on financial markets and world economy, which is held Saturday in Washington.
“Our work will be guided by a shared belief that market principles, open trade and investment regimes, and effectively regulated financial markets foster the dynamism, innovation, and entrepreneurship that are essential for economic growth, employment, and poverty reduction,” the declaration said…. “Regulators must ensure that their actions support market discipline, avoid potentially adverse impacts on other countries, including regulatory arbitrage, and support competition, dynamism and innovation in the marketplace.
“Financial institutions must also bear their responsibility for the turmoil and should do their part to overcome it including by recognizing losses, improving disclosure and strengthening their governance and risk management practices,” said the declaration.
The Chinese won. They gained what they wanted. We were forced to send one of the stupidest, most treasonous of Presidents to this global gathering where it was imperative that we have a leader with some sense and sanity. Instead of waiting until Obama showed up, they rushed things forwards. Why is that?
Simple: the Chinese communists have owned the Bush clan since Nixon’s days in office. Bush Sr asked for the Beijing ambassadorship and got it. He worked in China at the same time as my father. He was instantly good buddies with the Chinese communist leadership. They discovered that he was easy to bribe and they followed his instructions as to how to hide these bribes. So the Bush clan, not Bush himself, got all sorts of sweet-heart deals from the Chinese who knew they were buying influence this way.
So when the Bushes bankrupted their businesses, they would be bailed out by the Chinese and OPEC rulers. Bush Jr was saved from Harken Energy scandal by shadowy deals with foreigners coming up to him and volunteering to buy his crummy stocks. This way, Bush Jr could avoid looking like he initiated the sales.
I firmly believe that daddy Bush called his foreign buddies and told them about his son’s economic problems. They, in turn, knew that this was truly a golden opportunity to get the US Presidency in their own back pockets. The SEC investigation couldn’t prove that Bush Sr did this since they had no access to the private phone call records of Bush Sr.
When the Tiananmen Square protests of 1989 happened, Bush Sr was ordered by the Chinese to turn over all Chinese students in America who were demonstrating in front of the UN that month so they could be deported and punished. I stood in the way of this and prevented the students from being deported. After CNN raised a ruckus about this and after I got Senators Moynihan and D’Amato on board to resist this outrageous deportation order, Bush Sr. finally backed down.
The US Presidency has been sold off to the highest bidders since Jimmy Carter’s day in office. No longer does this seem to bother anyone. One major reason for this is very simple: our media thinks this is OK. Since there is no manufactured outrage, each successive President toys with greater and greater corruption while in office. And the media is fine with all this since much of our media is now owned by foreigners like Murdoch. They have an agenda: ‘free trade’ or die.
This is why anti-free trade thinkers find it nearly impossible to get published in any of the major outlets. This is why we just went through 25 years of our trade deficit getting worse and worse and under the very corrupt minion, Bush Jr, nearly a trillion dollars a year in the red. Let’s go back to the Chinese communist news media and read what the G20 decided:
_Xinhua
As expected by President George W. Bush, who said “The surest path to that growth is free markets and free people,” the leaders attending the Washington summit stressed the free market principles are essential to economic growth and prosperity.
“Recognizing the necessity to improve financial sector regulation, we must avoid over regulation that would hamper economic growth and exacerbate the contraction of capital flows, including to developing countries,” the declaration said.
“We underscore the critical importance of rejecting protectionism and not turning inward in times of financial uncertainty. In this regard, within the next 12 months, we will refrain from raising new barriers to investment or to trade in goods and services, imposing new expert restrictions, or implementing World Trade Organization (WTO) inconsistent measures to stimulate exports.
“Further, we shall strive to reach agreement this year on modalities that leads to a successful conclusion to the WTO’s Doha Development Agenda with an ambitious and balanced outcome. We instruct our trade ministers to achieve this objective and stand ready to assist directly, as necessary. We also agree that our countries have the largest stake in the global trading system and therefore each must make the positive contributions necessary to achieve such an outcome.
“We reaffirm the importance of the Millennium Development Goals, the development assistance commitments we have made, and urge both developed and emerging economies to undertake commitments consistent with their capacities and roles in the global economy.
“In this regard, we reaffirm the development principles agreed at the 2002 United Nations Conference on Financing for Development in Monterrey, Mexico, which emphasized country ownership and mobilizing all sources of financing for development,” said the declaration.
The G20 are united in one major regard: they are very, very anxious that the US be stuck in the present status quo. No tariffs or barriers are to be even suggested, much less, enforced. They expected Mr. Bush to endorse this treasonous response to the US being utterly ravaged by trade partners. This betrayal of our nation didn’t bother Bush in the slightest. Nor did it upset any of our media pundits or people running our media. This was treated as a natural outcome of us being the ‘Leaders of the World’ and being ‘Number One’ and other bizarre and very childish propaganda roaring points.
The only riddle here is the problem our trade rivals have with funding US misspending. None of them want to be the ones stuck with holding the majority of US debts when we go bankrupt. This is why they issued, via Goldman Sachs and JP Morgan’s lawyers, a series of astonishing demands. These are, the US government has to insure and guarantee all principal and interest due on any and all loans written by US bankers and sold overseas. This blackmail was noticed by Bloomberg reporters which is why I learned about it. Thank you, Bloomberg news!
But the US is unable to control our own destiny due to our trade deficit. This is at the core of our internal rot. The banking collapse is due to trade deficits. No one can run in the red to infinity or eternity. The goddesses who control the Cave of Wealth and Death do not allow this. They slay anyone trying this. The fools who think they can do this end up on the scrap heap of history. Any empires foolish enough to think they can do this end badly and seldom recover for sometimes, thousands of years.
The US is in grave danger from the modern mindset that we can accumulate infinite debt and there is nothing wrong with this. We just turn it over and over and keep it as our basis for our economy. This is very dangerous because we can clearly see today, this leads directly to bankruptcy. Our government seriously feels they can sell us down the river, forever. So even the slightest hesitation to overspending has vanished.
This mentality is deadly! We will not survive it as a free people. Debt is slavery. And our nation is being rapidly enslaved even as we use a lot of these debts to fund the world’s most expensive and inefficient and dangerously out of control military machine. More about that in a later story today.
*Bloomberg.com:Textron, AEP Ask for Access to Commercial-Paper Fund
A group of companies including Textron Inc., Nissan Motor Co. and American Electric Power Co. is pressing the Federal Reserve to expand purchases of commercial paper to include them.
The coalition wants the Fed to go beyond top-rated paper and buy debt with the second-highest grade, two people said on condition of anonymity. American Electric Chief Financial Officer Holly Koeppel said the group is seeking to add more companies and preparing a letter to outline its case.
While accepting lower-grade debt could reduce borrowing costs for a broader group of companies, it would also expose the taxpayer to greater risk. The request is one of a number of attempts to get a share of federal rescues, with industries from automakers to heating-oil retailers seeking funds.
“We are really creating a mindset where no one fails,” said Adolfo Laurenti, a senior economist at Mesirow Financial Inc. in Chicago.
Some of the people reading here have contacted me about this story. If this story is true, it simply shows how much contempt Asia has for the US government and systems. At every possible juncture, as the Japanese LDP gang has yanked our chain, the US government obeys the True Masters and doesn’t complain. We didn’t blow up when Koizumi, supposedly Bush’s goodest and bestest of friends, slapped us in the face by honoring WWII war criminals. China and Korea erupted in tremendous fury over this. But not the US.
It would not surprise me at all to see Japan demanding we give them cheap loans so they can expand their anti-union factories here in the US. Since we are enslaved by ‘free trade,’ we can’t simply tell them to take a hike. They get tax breaks and government assistance as they open their facilities here. They then collect all the profits and ship that back to Japan. If they threaten to move their factories to Mexico and flood us from there, we obey them and yield to blackmail. And since our own, native corporations have done this with total impunity, of course, all our trade rivals do this, too.
Not one US factory would have moved overseas if the US government slapped a tariff on the products coming back here. The advantage of using cheap labor would be nullified this way. For centuries, all nations that did considerable trade used tools like this for two purposes: to fund national governments and to protect native markets. Huge wars have been waged by aliens seeking to pry open foreign markets to ‘free trade’. This is a dark history we should heed.
Our trade rivals are very much aware of this history. The US, after WWII, was the only major industrial power that wasn’t even slightly damaged by the war. Indeed, we saw our own industries grow. Since then, our trade rivals have sought to undo this historic boon we won by hard fighting and work. They have been whittling down our industrial base with the assistance of corrupted US leaders and US media overlords seeking ‘free trade’ so Israel could invade our markets and run a huge trade surplus with the US.
Percentage wise, the country whose one-way trade has grown the most this last 10 years, it isn’t China. It is Israel. And this is one reason why our media has struggled to portray China as an export danger but never, ever mentions Israel at all. Never. To keep our post-WWII alliances alive, the US has ceded power to Japan and Germany and thus, has allowed both to run huge trade surpluses with us, too. And allowed both to establish factories here.
Back to the G20: they want some sort of functional international trade finance system set up somehow. This is simple: the US dollar is doomed. They all know this. They have to rig up some sort of system. They all know perfectly well, what that should be.
*FT Alphaville » A ‘paper-gold’ reserve system?
http://emsnews.wordpress.com/2008/11/16/g20-encourages-us-surrender-to-free-trade/#more-255
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