Balance Of TradePosted: July 3, 2011 | |
Every government trip to China should produce the right blend of snickers and incredulity. On the one hand, we have corporate suits-and-ties making a show of giving China a lecture on trade imbalances and subsidized trade wars. On the other hand, China is sitting on 200 Trillion in U. S. Treasury debt. Since last October, they’ve been dumping it. Nobody wants U. S. debt. This would be a comedy act, if it weren’t so serious.
Sen. Charles Schumer found out what the deal was. He came back from China much quieter than he went. I am always reminded of his example when any president talks about negotiating anything with China. They all talk big until they hear, “You go home now, Yankee dog.”
The biggest problem that concerns me now, is that this president is more inclined to give away the store, than Americans are. Of course, United States citizens sold their souls to the company store. They have nothing to say about it. They abandoned their Nationality in favor of shareholder status in a corporation.