â€śIt is a moral crime to give money to support ideas with which you
disagree. It is a moral crime to give money to support your own destroyers.â€ť
Is it a stretch to say the Chinese wish to
destroy the United States?Maybe!But it isnâ€™t a stretch to say that China
wants to become the primary global economic and military power in the
world.It is why the G-20 was so fresh
with irony.We have China and Germany
teaming together for the â€śsanction of the victimâ€ť -- the United States.Even though it is US liquidity that is
keeping both their economies afloat, now that Germany has become attached at
the Chinese hip.
You know what they say boys: Be careful what
you wish for ... it may come true!I
guess it doesnâ€™t translate well into either Chinese or German.
Bashed, indeed, Mr. Obama was at the G-20; and
for a lot of good reasons.But, the
reality is this problem in the global economy is first and foremost a global
imbalance problem with China and Germany (to a lesser degree) as the two
spoiled children creating a problem they fail to admit.
German Finance Minister Schauble, tell us
again how that single currency regime, structured primarily by your country to
your own benefit by creating a captive market for your industrialists knowing
all too well by locking the other countries into a system whereby they cannot
adjust to compete with Germanyâ€™s efficiencies, i.e. the straightjacket of the
euro, is working for you?
Oh yes, you are correct Mr. Schauble -- it is
working very well.Germany is sucking
the air completely out of the eurozone as the others are wheezing on life
support.Nicely done!And you hammer the US for liquidity
generation?That is fresh!
Why so fresh?Well it is US liquidity and ability to take on Chinaâ€™s huge
manipulated trade surplus that is creating the demand for Germanyâ€™s industrial
orders, Mr. Schauble, in case you hadnâ€™t noticed.Ahh ... no good turn goes unpunished, does it
But not to be outdone in the hypocrisy
department, China, always one to love sanctioning its victims, tries to turn
the G-20 into a US bash fest.And
because the so-called leaders of most other countries are a bunch of weenies,
afraid China will turn its power on them with even more predatory practices
should they speak up, remain quiet as doves cooing in their pens.
One again, in case the rest of the world
hasnâ€™t noticed, the US in all its so-called fx manipulation has once again
taken on the bulk of Chinese exports, keeping the game alive through both US
demand and the Fedâ€™s QEs.
We canâ€™t remember China ever complaining about
the dollarâ€™s decline when demand was brisk before the credit crunch.We canâ€™t remember China complaining about US
consumers spending like drunken sailors and over leveraging then.But much seems to have changed since US
demand has fallen after the credit crunch.But much is still the same because it is the US demand that is keeping
the commies in power.It is the US demand
that is still delivering the goods to the powerfully politically connected spoiled
brats known as the â€śPrincelings.â€ťAnd it
will be interesting to see what happens to these â€śindustrial wizardsâ€ť once the
US finally gives them what they are asking for -- less liquidity.
How come nobody seems to mention Chinaâ€™s
massive quantitative easing program which on a relative scale was much larger
than that of the US?Because my friends,
the vested powerful interests inside and outside the US who make huge money
inside China would be showing the emperor with fewer cloths than he currently
credit expansion was 9.6 trillion yuan in 2009 and will be 7.5 trillion yuan
this year from 5.8 trillion in 2008.This immense credit goes to the state-owned enterprises at 5.5%
interest, lent by state-owned banks that amass captive household savings at
2.25% deposit rates.â€ť
China GDP growing at 10% and they pay 2.25% to
depositors?Talk about incredibly
suppressed market interest rates, Batman!And the US is typically the recipient (rightfully so) of bashing
criticism for its artificially low rates.Just close your eyes ... push the China-Cheerleading stuff and the â€śUS
is always the bad guyâ€ť stuff you hear from the financial press out of your head
for a moment ... then think of the massive displacement of capital inside the
Commie Kingdom; it will end badly.The
only question is when.And we know the
answer to that riddle.
It ends badly when the leaders of the US
government reach around and finally find some spine!
This maybe a bit egocentric; it may sound a
bit like your typical ugly American yahoo; it may sound like yet another
philistine in the wilderness that has not come to grips with the new power
structure of one world order; it may appear my blue-collar roots are showing;
to all that I plead guilty as charged; proudly so.But I am sick and tired of watching the US
enrich poor Asians on the backs of blue collar workers and the rest of the
middle-class so platform companies, and the powerfully politically connected
can enrich themselves and their shareholders as they transfer massive
industrial power and research to a country that wants to bury them.And then they dicker around the edges of
econometrics bull$*&^ wondering why the US has a structural unemployment
problem.It is to laugh, but so pathetic
it makes you cry.
So when does it all end badly? When the US
finally erects very high tariffs against Chinese goods flowing into the US
economy -- thatâ€™s when.The latest
election cycle should make it very clear to the Chinese that this game is about
over.The victims are sick and tired of
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