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Posts Tagged ‘China’

It’s difficult to say when it began, but I am sure the seeds were planted on the very first day the Pilgrims landed at Plymouth Rock.  Surely the beliefs that allow such betrayals are contained in the essence of the Calvinist/Puritan teaching of the concept of the “elect”.  Surely such beliefs are made manifest in the wholesale slaughter of the native Americans who owned this land.  Surely such beliefs are made manifest in the enslavement of an entire race of people, all for the sake of the enrichment of private fortunes. They called America the land of opportunity. And who comes to a land of opportunity except opportunists?

Through the centuries there have been numerous examples of men who professed a love for this country and its people, and all the while they acted out of anything but love for either the country or its people.  These captains of industry and leaders of government, clever with words and even more clever with the manipulation of the populace, time and again took advantage of the people solely for the purpose of self-aggrandizement.   The use of slaves in the south, the use of child labor in the factories of the north, the ejection of native Americans from their homelands on which they had lived for over 10,000 years, are all the work of opportunists – people without a sense of honor, righteousness, or human sympathy. These people knew only greed for wealth and would say anything, do anything, and go anywhere to obtain it. As they would say, ” You gotta do what you gotta do.” And they called themselves Americans.

We should have seen it coming fifty years ago. That’s when the captains of industry began moving the manufacturing industry of America from the industrial northeast to the south in order to take advantage of the cheap labor and thus obtain even greater profits. It was an opportunity not to be missed. And over the years the northeast lost many, many thousands of jobs and once thriving manufacturing towns became empty as people left, looking for work somewhere else. Never mind that the captains of industry had been good citizens. Some had even held political office. All had claimed they were working for the good of their communities. And then they left – for the opportunity to make even more money. And what about the people left behind? Who cares?

We missed the signs, though they were obvious to see. Then it happened again, except this time the captains of industry moved their factories to other countries where the people would work for even less money – it was an opportunity, you see. And our government? Well, it was just fine with our elected officials. No need to erect tariffs to keep out the cheaply made goods that would compete with American made products. It’s competition – good for everyone. Right? But it wasn’t. Sure it was good for Wal-Mart. Sure it has been wonderful for China. But what about the American worker? What could he do now?

Ah! The government had an idea (with the help of the banking industry). The poor people could buy and flip houses! Let them become mini-Capitalists! They can make their fortune’s that way and so can the banks. And the government said, “Let it be so.” And it was.

As Americans now look at the smoking ruin that was once the American economy, there is a strong sense of betrayal. Look at the Tea Party. They are made as Hell and they aren’t going to take it any more. Sadly, they have no clue about exactly what happened to them. They just know that they don’t want to pay taxes anymore. Everywhere there is unhappiness. The government cannot be trusted. The people we elect don’t deliver. They promise to do things and then they never even attempt to do them once they are elected. Democrat or Republican – it makes no difference, because, you see, they are all opportunists in this land of opportunity.

We, the people, don’t get it. It’s not about community. It’s not about patriotism.  It’s not about helping your neighbor. It’s not about people helping people. At least those are not the concerns of our captains of industry or our captains of government. We have been betrayed, fooled, bamboozled. The Tea Party knows it. We are a nation of suckers, believing political promises and televised slogans from big business. Our Supreme Court, in its mind-boggling wisdom, has declared that corporations are like people and that they enjoy the same freedom of speech that real, living people do.  Really! So now corporations can use their billion dollar megaphones to drown out the voices of dissent from the people.  We are indeed betrayed. Our jobs have been moved overseas. Our wealthiest citizens pay almost no taxes while our poorest people are evicted from their foreclosed homes to live on the streets. Our banks have received billions of dollars from the government in order to cover their losses. Our industries have received billions of dollars from our government in order to cover their losses. All because our government and our industry leaders deliberately moved the key machinery of our economy to China, India, and the rest of the developing world – and all at the expense of the American citizen.

The people of America have been betrayed by the leaders of their industries and their elected leaders for many, many years.  And now, while the smoke still lazily drifts upward from the ruins of a devastated economy, the politicians prod the people once again. “Vote for me. Vote for me.” But Washington, don’t you see? The people are tired of your tricks, tired of your betrayals, tired of your promises that mean so little.  We know you are nothing but opportunists.

I fear that the time is near when the American people, like Estragon and Vladimir in Beckett’s Waiting for Godot, will simply not move.

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I suppose we should have seen it coming when China launched its own version of the Apollo spacecraft – three Chinese astronauts circling the Earth – a few years ago.  It was at a time when the U.S. space program was, at best, going sideways, partnering with Russia, making short trips to the Space Station with the Shuttle. Not a whole lot of new things have been done by NASA recently, and now NASA’s most recent brainstrom, a return to the Moon, has been canceled. But this Chinese high speed rail deal is different. We’re not talking about the Moon anymore.

It has just been announced that China is in negotiations to build a high speed rail network connecting Europe and Asia. The trains that China will build, the fastest in the world, will travel almost as fast as a jet plane. People will be able to take high speed rail, using Chinese technology, from London to Beijing. China is now in talks with seventeen countries, among them England, Russia, France, and India to build the system.

So, how did the U.S. do in the competition for the job? Let’s be serious. Nobody even asked us. And why should they? We don’t make high speed trains. Our so-called high speed train, the Amtrak Acela, doesn’t come close to the performance of Chinese trains. We don’t build real high speed trains because we can’t. We don’t have the knowledge or the manufacturing capability. We are simply not a player in high speed rail technology. China is the clear leader with Japan a fairly close second.

It’s interesting that the U.S. press, to my knowledge, hasn’t even covered this story. I found it in the Irish Independent. So, does that mean that this isn’t part of the news that is worthy of print in America? Or does it mean something else? Could it be that our news media is unaware of this development? Or, could it be that, for whatever reason, they would just rather not tell us about it? I know; it sounds kind of paranoid, but I just went through eight years of Bush/Cheney, so don’t we all have a right to be paranoid? In fact, it seems that at least half the country is paranoid now, debating things like whether health care for all of us is good or bad (does that question even make sense?).

Meanwhile, China quietly pushes ahead on all fronts.  China’s economy is booming. China is already the primary manufacturer of most of the consumer goods that are sold in America. Oh, but that’s OK we said. It’s just low tech stuff. We don’t need those jobs anymore.  We’re a high tech country now. OK. So what high tech stuff do we make? Airplanes? Sure, if you count military planes (we’re really good at making things that kill people). How about commercial planes? Well, we’re down to Boeing now. Everyone else – names like Lockheed, McDonnell Douglas, Convair – not to mention Wright – they’re not in the business anymore. Most of the planes you see in the sky in America these days are built by the European company Airbus, or by the Canadian company Bombardier, or by the Brazilian company Embraer. Boeing is fading too. My guess is that the 787 will be its swan song for commercial aviation. The last of the American commercial airplane companies.

We need to understand the significance of this new announcement about a Chinese trans – Europe and Asia high speed rail system. The handwriting is on the wall. We have been eclipsed.  China is about to become the technological King of the World.  Under Bush we were obsessed with military attacks and military expenses and nothing else.  Not even Katrina could capture his attention for a microsecond. We have built the most efficient killing machines in the world, but we have an economy that is struggling to recover from banking disaster and a seriously decayed civilian technological manufacturing infrastructure that can’t begin to compete with China. Our only hope is that there will be a need for financing for this magnificent rail system. Our banks could make the loans and then package them as collateralized debt obligations (CDOs) and then, just in case the borrowers don’t pay back the loans our banks could buy credit default swaps from our insurance companies and, of course, then sell the swaps on the derivatives market. Or at least create an options market for the CDOs and swaps. We’re pretty good at that.  We just need to figure out how the average citizen makes money this way.

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If there is one thing that everyone in America seems to be able to agree on, it is this: we are in big economic trouble.  After having a near miss with a second Great Depression, we are unsteadily moving towards a state of continuing economic uncertainty.  It’s not just us; it’s the whole world. Spain, Greece, and Portugal are now in deep economic trouble and if they default on their debts the euro and the entire European economy could be endangered.  China, now the prime manufacturer for the world, and the principal holder of U.S. debt obligations, is mostly concerned with their own economy, not ours; except that their economic fate is inextricably linked to ours. If we go down, they go down.  That is something they would really like to avoid, so they are taking their own self-protective steps to strengthen their currency and prepare for a second round of economic bad news.

Everyone, almost everyone anyway, seems to feel we spent a huge amount of money in forestalling the complete meltdown of our banks. We did this with borrowed money – money that was essentially borrowed from China and will eventually have to be paid back.  The problem is that we are very close to being in a situation where as a nation, we spend more than we earn. And it looks like this imbalance will only get worse in the coming years.  It is a recipe for economic disaster.  We either have to earn more or spend less. The problem with earning more is that our multinational companies have outsourced so much production to China and other countries that it is now really hard to earn more money. We just don’t make enough stuff here anymore. So what’s left? Cut expenses. Spend less.

Immediately, the right wing goes after the entitlement programs, since, philosophically, they have always opposed them. Slash Social Security, cut Medicare and Medicaid, eliminate anything that smacks of helping people – and let’s don’t even talk about universal health care. On the left we hear about different types of cuts. Recently President Obama said he wanted to cancel NASA’s plans to go back to the Moon.  He also wants to tax the banks and the rich folk (makes sense – after all, that’s where the money is).  There is one thing no one talks about. The big 800 pound gorilla in the room, the Emperor’s unmentionables, the biggest ticket in the U.S. budget, the Mother of All Budget Breakers: Defense Spending. There – I’ve said it.  That which must not be said. The ledger which must not be looked at. The sacred amount, the holy of holies which must not ever be questioned: it is this one little item that is bleeding the life blood from our country.

Whoa, pardner. Wait just one cotton pickin’ minute, Glenn Beck might say. How do you figur’ that?  How come I’m not going after that big money waster, Social Security or Medicare? Well, for one thing, I’ve already paid a lot of money into the Social Security/Medicare Ponzi scheme and I want my money back some day. And I’ll get it too, and so will you, just so long as the population keeps growing – the key ingredient to any Ponzi scheme.

Defense spending, on the other hand is different. A lot of it goes to defense contractors who get their contracts via lobbyists and cozy relationships with our Senators and Congressmen.  They build all sorts of useless things like B-1 bombers and nuclear powered aircraft carriers.  They spend a lot of money on their own version of entitlement programs like huge pensions for retired admirals and generals, free medical care, free or low cost housing, food, clothing, schooling, transportation, recreation, you name it. Talk about Socialism, talk about entitlement programs, this is the King of Entitlement programs. We all know this, but it’s unpatriotic to say so, so we keep quiet.  For a great many people, the military is a jobs program, except for those unlucky few who wind up in actual combat, of course. The thing is that vast numbers of military people never come within a thousand miles of combat. The truth is that most of our weapons are never used. The truth is that the military is the largest old boy network in the country.  It is a system where you make alliances for life.  These alliances are used to get jobs in industry after people leave the military or in the government itself where you can find groups of people working in the same office who “just happened” to know each other in the service. We all know that – we just don’t talk about it.  It’s not patriotic to say that.  The thing is this: having a nice and safe, cushy career in the military and then retiring to a fat job in government or industry while collecting a fat pension is not the same thing as dying for your country in the rocks and sand of Afghanistan. But we act like it is.

The simple fact is this: our military budget is horrendously bloated.  Our military spending is way out of line. We buy the wrong weapons.  We have the wrong strategies.  We have the wrong number of people.  We are wasting enormous amounts of money on our military budget, and like a drug addict or an alcoholic, we can’t stop.  Defense spending is our sacred cow. It must not be questioned.  It must not be cut. It is killing us financially, but we won’t and we can’t admit it.

Here’s something to think about: how many years has it been since 9/11? It’s getting close to nine years. So how is our military doing fighting this war against terror? Well, let’s see….we bombed Afghanistan and toppled the Taliban, but we didn’t get Bin Laden. We invaded Iraq and killed Saddam Hussein, but we didn’t get Bin Laden.  We’re back in Afghanistan but we can’t seem to locate Bin Laden. Nine years our military has been fighting yet still we face possible terrorist attacks from Al Qaeda every day. Does this mean our military isn’t up to the job? No.  It means that this is not a job for the military.  Remember when Cheney said that the war against terror was going to be a clandestine war and we wouldn’t hear much about it? Well, that was about as close as Cheney ever got to the truth. We are not going to defeat Al Qaeda with armored columns or stealth bombers or aircraft carriers or 20,000 Marines. We don’t even know where they’re hiding.

After World War II Europe pretty much disarmed. We didn’t. Neither did the Soviets. President Reagan drove the Soviet Union into bankruptcy by accelerating the arms race. Massive military spending didn’t help the Soviet economy, it killed it. Even so, we don’t learn.  We continue on, preparing to fight multiple simultaneous wars on different fronts, like the Cold War never ended.  We’re spending enormous amounts on the War on Terror at the same time.  More than anything else it is this unconstrained defense spending that is destroying our economy.  Why? Because the military does not create a product. Money goes in but no consumer products come out. It isn’t a business. Money spent on defense is not an economic stimulus, it is a burden on the taxpayer – a burden we have to acknowledge and sensibly reduce. This doesn’t mean we stop fighting Al Qaeda, it means we have to fight in a more productive, intelligent, and clandestine way – but not the way of the military.

Our problem is that we cannot even talk about this. Our problem is that we have a corrupt system that continually increases defense spending in ways that are not useful or effective. Our problem is that, more than anything else, defense spending is killing our economy and we won’t admit it; we are afraid to admit it.  Our problem is that defense spending has become our sacred cow and it has become unpatriotic to question anything about it. Even so this will end, either when we get up enough courage to honestly debate defense spending or when our economy simply collapses and defense spending, like everything else, simply withers away.

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For America’s capitalists, it is the 800 pound, unacknowledged gorilla in the room.  China has the most successful economy in the world today. Despite the current worldwide economic meltdown that has caused the worst recession in America since the Great Depression, China has not had a recession.  The great engine of the Chinese economy has chugged along, continually churning out the goods that we have all come to rely on for our everyday needs – now that, it seems, almost nothing is made in America anymore. So, does this mean that Communism is superior to Capitalism? (I can almost hear John McCain and Sarah Palin choking at the very thought – not to mention the entire Republican Party. How can we even ask the question, they would say.  Isn’t it unAmerican to even ask questions like that?  I’m sure it is in Sarah Palin’s world.)

The question, however, is a valid one. What is going on here?  If capitalism is such a great economic system and communism is such a vile system why is China on top and not the U.S.?  In case you missed it, because the U.S. press tends to ignore economic successes in China, it was announced yesterday that China now has the world’s fastest high speed train. It travels at 380 km/hour (236 mph). Even more notable, China plans to build 42 more high speed rail lines in the next three years, covering 13,000 kilometers of track (about 8,000 miles).

If that isn’t enough, consider this: China is the world leader in Green technology. Even as President Obama is talking about starting a green tech initiative, and even while he is hoping to recharge our economy by major investments in green tech, China is the world’s largest producer of wind turbines, and it is also the world’s largest market for generating power from the wind.  It has 10 gigawatts of newly installed wind power generation capacity. So how much wind power generation capacity does the U.S. have? About 1/10 of China’s capacity – not much more than a gigawatt.

China is what the U.S. was.  China is the merchant to the world these days. China is the banker to the world too.  China has demonstrated capabilities in space that rival the U.S. Apollo program.  China recently hosted the Olympic games and put on a show that amazed the world.  So – do all of these accomplishments mean that communism is a superior economic system compared to capitalism? Not necessarily.  Consider for a moment a much smaller country that also made major economic advances in the past – a country that is primarily Chinese, yet is far from being a communist country. I am referring to Singapore. As small as China is large, Singapore was once a part of Malaysia. An island state, and now an island nation, Singapore was not much more than a port city – a stopover for merchant ships plying the far east trade routes. However, that all changed with the election of former Prime Minister Lee Kuan Yew.  Lee took control of Singapore and it’s economy.  Far from being a communist, Lee was a capitalist – except that he believed in planning. For Lee, uncontrolled capitalism made no sense. Under his guidance, Singapore’s economy flourished.  Singapore is now a major hub for international finance, technology, and tourism. Lee Kuan Yew implemented a carefully drawn plan for economic growth – a plan that included strict controls on business practices (as well as lifestyles).

The lesson that can be drawn from Singapore and China then is not that communism is superior to capitalism, or that capitalism is superior to communism when we are talking about economic systems. Both can produce good results and both can produce disasters. The key to success for both China and Singapore has been intelligent, responsible government.  It doesn’t take a lot of thought to realize that intelligent design will always succeed over random chaos.  Darwinian economics of the sort advocated by the most right-wing of politicians – every man for himself and let the government just stay out of the way – is a recipe for economic disaster and chaos.  The Neanderthal economic doctrines of Bush/Cheney of  “just let ‘er rip” led to the greatest financial disaster in eighty years.  The lesson we need to learn is that non-functioning, or dysfunctional governments inevitably lead to disaster.  Intelligent, thoughtful, responsible governments lead to success.  The key is not whether the government is communist or capitalist, the key is whether the people who are in charge have intelligence, integrity, and compassion for the people of the country – all of which qualities were lacking in the Bush years.

We are not out of the woods yet. Just one look at Congress shows the problem we face. Obstructionist Republicans in Congress use every trick that can think of to stymie legislation on almost any topic – except war – they like war.  Health care reform that might bring America into the civilized world of the 21st Century is held up so that the Republican cronies in the insurance industry can continue to feed off the people. Never mind that so many people suffer and die without health insurance. Anything for a buck.  Obstructionist Republicans create a situation where almost nothing can get done in Congress and the country is unable to move forward on any major initiatives whether they are related to health or the economy. That is the principle difference between China and America.

Once upon a time we had people in Congress that honestly worked for the “good of the country”. Today, the “good of the country” is a joke. It’s not about the country, it’s about power and control and money in your pocket from whichever lobbyist has the most.  China is our largest creditor. China is our major supplier of consumer goods.  China is growing while we are stagnant.  The reason for this is not the “isms” of economic systems; the reason is intelligence and integrity in government – both of which have been in short supply in our nation’s government for far too long.

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In 1776, a group of revolutionary minded people, many of whom were Freemasons, created the United States of America.  This new country was to be a break from the past. The leaders of the movement: George Washington, Thomas Jefferson, Benjamin Franklin, John Hancock, and many more were Freemasons.  They were informed and inspired by some of the tenets of the Freemasons, tenets that were at odds with the established manner of world governments at that time.  Many of the governments of various European countries had a long established and close relationship with one branch or another of the Christian church.  Most of the governments had kings or queens, whose right to rule was based upon their ancestry.  The American revolutionaries had a different concept in mind – a democratic, elected  government that had no association with any religion.  It was a daring concept, and a complete break from the European view of government.  These Freemasons even documented this break from traditional government when they made the Great Seal of the United States and when they printed the one dollar bills that we have today. One each of these bills are printed the words: Novus Ordo Seclorum, i.e. A New Order of (0r for) the Ages.

The New order that was founded by these Freemasons created a Republic where the principal ideas and visions were centered on individual liberty.  A key concept was that the government was not made up of the elite or the wealthy or the influential or the religious leaders. The government was changed regularly, based upon a schedule of elections, and anyone could become a member of the government – as long as they could convince their friends and neighbors to vote for them.  This concept of a republic also implied something else, there would be a distance, a division, between the will of the wealthy and the will of the government, i.e. the will of the people.

Today, as our economy lurches towards a dubious recovery from a worldwide economic meltdown, we can observe that there has been a key change in the Novus Ordo that was created by the Freemasons.  There is no longer a distance between the government and the wealthy. Indeed, it was the closeness of the wealthy to the government that directly led to the meltdown.  It was the money in the pockets of the our governmental representatives that led to the relaxation or the complete annulment of laws that had protected us from nefarious economic practices by the banking industry.  It was the government’s Securities and Exchange Commission that looked the other way when Bernie Madoff ran his gigantic Ponzi scheme.  Over the years, the wealthy had established a cozy relationship with the representatives of our Republic – all for the purpose of gaining more money for themselves and less for the average citizen.

Today, the wealthy have almost a stranglehold on our government.  Some would say it is more than that.  They say we have an oligarchy – a situation where hidden, wealthy people rule through a puppet government and all laws are made to benefit the small, wealthy elite.  All you need to do is look.  Our American companies have become multinational. Our once good paying jobs have been moved to other countries where the cost of labor is much less.  Our government has “reformed” our tax laws allowing millionaires and billionaires to pass on their fortunes from one generation to the next while not a cent of tax is imposed on this transfer of wealth.  The wealthy have used the government to create income tax cuts for themselves and income tax increases for the middle and lower class.

The New Order created by the Freemasons is fast dying.  Today, our multinational companies, owned by the wealthy, fabricate our goods in China- creating no jobs for American workers – except those who work for Wal-Mart.  Our multinational companies pay little or no tax to our country, because they are officially located in the Bahamas or some other idiotic legal location.  And our government just winks and says, “OK”.  Our country has been transformed without our even realizing it.  We have a new world order that we never saw coming.  In this new world order, it is the wealthy who rule and it is the poor who pay taxes.  In this new world order everyone can vote, but it hardly matters who you vote for. Money flows like water from the mighty Mississippi into the pockets of our Congressional representatives who pretend to ask for our opinions but then vote the way they are told.

The Novus Ordo Seclorum of the Freemasons has gone, and we didn’t even see it go.  We can only sit and watch, dazed, as the government tires to stimulate a dying economy, knowing in our hearts that we are only surviving on financial life support.   How can our economy ever rise again when the wealthy have sent all our jobs to China?  How can our children ever compete again when our schools can’t compete with those in Malaysia or Norway?  How can we lead and inspire the world when so much of our television and radio news is now filled with the lies of the wealthy media owners, propaganda, and gross distortions of truth?

The new order of the world is here.  It is the multinational companies of the world who now make the economic rules. It is China that will be the world’s supplier of almost everything anyone needs.  We are to be the consumers, borrowing money from banks in order to live – while living forever in debt.  Meanwhile the people of the wealthy class return to their rightful place: Rulers of the World.  And the elected leaders of our Republic grovel before them and do their bidding – all for a pocketful of change.

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There are a lot of Americans who are invested in the stock market one way or another.  Many have 401k retirement plans.  Many have 529 college fund plans.  Some have IRAs and others simply buy stocks or bonds directly through a broker.  One way or another, I would guess that perhaps half or more of the adult population has investments in the stock market.  Let’s say that is about 100 million people, give or take.

Today, the Dow Jones fell precipitously from the opening bell.  It fell very quickly and stayed low the entire day without a lot of up and down motion after its initial drop.  By the time the market had closed the Dow had dropped 2%.  There are a few curious things about this.  First, the Chinese market had fallen 5.8% earlier.  Interestingly, the Japanese market had also fallen.  The Nikkei fell by 3.1 %, despite the report that Japan had just exited from recession and was now in an economic recovery. So one has to wonder a bit.  Did those 100 million or so American investors suddenly wake up in their sleep, perhaps due to a bad dream about the stock market, and sometime in the wee hours of the morning place a massive amount of sell orders before the U.S. market opened?

And if they did, why did they also bail on the Japanese economy?  Japan is now the third major country, after Germany and France, to announce that they have recovered from the recent economic meltdown.  Wouldn’t you have thought those sleepy Americans would have held onto their Japanese stocks? Or was it maybe the Japanese citizens themselves who panicked when they heard the dire news that they had recovered from the recession? And what got into all those people who had invested in Chinese stocks? China has the largest stimulus package in this corner of the universe and they also own several tons of U.S. treasury bills.  Did the investors suddenly forget that?  Why would all these little investors suddenly wake up in the middle of the night and scream, “Sell all my Chinese stocks!”

Why indeed.  Unless there is more to this instantaneous worldwide sell off than meets the eye.  I wonder.  Could it be that this massive, worldwide purge of investments wasn’t the result of millions or billions of investors all making the same “sell” decision at the same instant?  Could it be that perhaps something else was going on?  Could it be that maybe this was an orchestrated sell off instigated by a relatively small group of traders?  And if so why?  Why would any group of traders that control maybe 5 0r 10% of the entire world’s stock markets suddenly sell everything?  What could they gain – except to maybe trigger a massive number of stop losses.

And even if they did.  What good would that do for them?  What would they do then?  What would you do?  Perhaps we’ll see tomorrow.

Of course, I could be wrong.  Maybe everybody did just run to the same side of the boat at the same time.  It could happen…. Right???  Couldn’t it?

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I’m pretty sure that if I crawled into the shiny-bright, luxurious offices of Goldman Sachs, Morgan Stanley, or any of the other big Wall Street banks on my hands and knees I wouldn’t have a chance in Hell of getting any of them to loan me a dime. Not this year or any other year; past, or future. That’s probably true for 90% of the U.S. population and for 99.9% of the world’s population.  Do you think these bankers suspect there might be a little resentment by the U.S. taxpayers about the bailout?  Probably not , or if they do have some inkling of this, they probably don’t care anyway. That’s because there is really only one constituency they, and our present government, care about anyway: the people of China.

At last count, the population of China was over 1.3 billion people, i.e. China outnumbers the U.S. four to one.  These Chinese resources, oops – I mean people, are as valuable to the U.S. businesses as Arab oil is to our “energy” companies.  Remember about twenty years ago how most U.S. businesses changed the name of their “personnel departments” to “human resources”?  A real change came over our nation some time ago, it’s hard to pinpoint exactly when, but it was reflected in our use of language.  Our businesses started feeling odd about having departments made up of “people”. It made them uncomfortable. Maybe it made everything too personal. So American employees changed from being people and became “resources”, like oil or money.  This depersonalization made it easier for Big Business to think of people as commodities that can be bought and sold, acquired and disposed of, without feeling guilt about actually affecting someone’s life.As they say, “it’s not personal, it’s business”.

The human resources of China are astounding. They are hardworking, they work very, very cheap, and they don’t complain. They don’t agitate for safer working conditions, they know their place in life, and they are conveniently far away and out of sight.  They are infinitely better than troublesome, noisy, complaining workers who are always asking for more benefits, like health insurance and time off to go to their kid’s baseball game.  The solution for American business, of course, in so many ways, was to outsource as many of our jobs to these unnamed resources in China. Our multinational companies have made billions by getting these resources to make all the things we buy with our credit cards.  Hell, they even make the credit cards.  We, of course, used our credit cards to buy everything because we didn’t have enough cash.  That’s  because we hardly made enough money to pay our adjustable rate mortgages, let alone our adjustable rate credit cards.

It all had to end sometime, I guess.  Eventually too many of us ran out of credit cards that still had an available credit balance on them that could be used to pay the minimum payments due on all the other credit cards.  Then the whole absurdity really started cascading downward with the collapse of the U.S. toxic housing market pyramid scheme.  It was about this time that the bankers of Wall Street, who wouldn’t normally give either you or me the snot from their noses, turned to their golf buddies in the insurance business. They told them that “now” would be a good time for them to pay off on the insurance policies they had purchased to cover the loans they had made to the ordinary, everyday, cutthroat banks who had made real estate loans to the American peasant masses.

Imagine the surprise on the faces of Messrs. Goldman, Sachs, Morgan, Stanley, and the other blue bloods of Wall Street when they learned, to their abject horror, that their insurance policies (also known as “credit default swaps” so no ordinary person could figure out what they were really for) didn’t actually cover all of their losses.  You see, the insurance companies are really the same thing as big time Las Vegas gamblers. They don’t really ever have enough money to cover everyone’s losses at the same time (just ask any homeowner who ever survived a big hurricane, like Hurricane Andrew), insurance companies, like AIG, plan on only a very small number of claims ever actually being filed. Guess what Wall Street nobility?? Ooopsie!!

Getting back to our unnamed, and barely human, resources in China, it turns out that the noblemen of Wall Street, the princes and earls of our elite society, didn’t actually have enough of their own money to lend to all the cutthroat banks either. They are, after all, not THAT rich.  So they borrowed a lot of that money. A lot of money, most of it came – at extremely low interest rates – from the top dogs who oversee the Chinese human resources.  It was a lot of money. Lots and lots of money.  More money than the mafia has.

These are the same Chinese top dogs the U.S. had to turn to in order to finance the Iraq War because we don’t have enough money ourselves to wage that kind of endless war either. The thing to take away from this is that we owe China one helluva lot of money.

And now, as the earls and princes of Wall Street stand by in abject horror and their golf buddies in the government cover their aghast mouths with hankies and make strange gurgling noises, they all know one thing: if these last two remaining financial institutions on Wall Street melt into cute little golden rivulets that flow softly away into the sewers of New York, somebody in China is going to be very unhappy.  Very, very unhappy.  You know what I mean paisan?

Someone in China is going to be wondering what happened to the trillions of dollars that he lent in good faith to the demented sharpies of Wall Street. This unhappy camper controls 1.3 billion people, and he has nuclear weapons.  He has a slew of intercontinental ballistic missiles, and just completed a space walk equivalent to the Apollo program. This unhappy camper also fabricates most of the stuff we buy because we shut down all our factories and outsourced everything to the faceless, uncomplaining  Chinese resources.  We are totally dependent on this Chinese top dog.

A few days ago, our President and Secretary of the Treasury looked us in the eye and, voices choked with fear, they quakingly told us to be afraid, be very afraid.  We should be.  Our King Bush II has told us peasants that we have no choice but to bail out the earls and princes of Wall Street and save their gold from melting.  It’s all for the good of us peasants, they say. “Peasants to the rescue!”  They even have an a plan anointed by Congress. It goes like this: they’ll give some of our money right away to the princes and earls because their treasuries are running dry. But, don’t worry peasants, they won’t give them everything they asked for! We are being protected. Instead of buying all of Wall Street’s rotten trash, also known as toxic mortgages, the government will instead merely insure a lot of these mortgages.The U.S. government is going to insure mortgages for Wall Street!

Insure the mortgages?!?  Can you believe it? The U.S. government is going to issue Credit Default Swaps to Goldman Sachs and Morgan Stanley, and we peasants are going to fund the whole thing because we are terrified of what will happen if we tell China that they have to eat the losses!  These credit default swaps are one of the main reasons the whole financial world is crumbling down around us and now, in the eleventh hour,  the U.S. Government wants to play the game too???  This is the ultimate solution??

This sounds like government by The Three Stooges, doesn’t it? The only thing I wonder is who are the real stooges here? Any ideas?  Any ideas?

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