Friday, May 21, 2010

Meanwhile Back at the Ranch

The People's Republic of China holds about $2,500,000,000,000 (trillion) in foreign-exchange reserves.  Analysts believe that the majority is in dollars.   China is hugely successful in selling products to the U. S. while at the same time restricting access to its markets in a variety of ways.  But next week U. S. "Commerce" Secretary (commerce being a somewhat forbidden word by the Obama administration) and former Washington State governor Gary Locke, will go to Beijing to tell them they're not playing nice with us and that we are feeling increasingly unwanted.  What?  China wants to own all the technology developed in the world and encourages "indigenous innovation"?  That's not fair, but Secretary Locke isn't going to be specific about how he'll talk China into being nice and by the way move up the value of the former Yen, now Yuen.  Of course, and one can hear the roars of laughter across China.

Yesterday the United States Senate passed the Obama Administration's requested takeover of the financial services in the U. S.  Its bill must be reconcilied with a less burdensome one passed by the House of Representatives.  Signing is expected perhaps by July.  Stay tuned for another plank in the destruction of freedom in the world!

Meanwhile back at the ranch, while President Obama is attempting to takeover the United States financial services industry by suing Goldman Sach to prove "Wall Street" is corrupt and dangerous to the economy, as are all large banking organizations, Obama's erstwhile fellow dictator-wannabeeVenezuelan President Hugo Chavez is undermining the reputation, strength and ultimately the solvency of his enemy, none other than President Barack Obama of the United States of America.  Citizen Hugo is grabbing $20,000,000,000 from The People's Republic of China in exchange for oil in the future and thanking Chinese president Hu Jintao and China.  This was bye-the-bye one of the largest loans ever made by China.  The money will "save" Chavez from his progressive foolishness (which is being copied by Mr. Obama) and energy shortages, broken infrastructure, 25% inflation and shrinking eonomy.

The hapless president of the United States doesn't seem to have a clue.  He simply wants to get reelected and have a legacy up there with George Washington.

As earlier posts noted, China is eating our lunch, or eating us for lunch.  And our president is going after one of the most successful United States corporations. 

Of course.

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