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It's public knowledge that the Hollywood quality acting star of the globalists, Obama wants to whack Social Security benefits to lure Republicans into a deal on raising taxes. In that case, keep Alan Simpson on the commission on reducing the federal deficit;
The political circus obscures the fact that the basic economic problem is larger than any single nation and stalks the global trading system itself. There is a huge hole in the world—a massive loss of demand. Think of the trade wars as the largest producers fighting over an abrupt shortage of buyers. Financial collapse and recession, with falling income, defaulting debt and rising unemployment, made this hole.
The political hastle zeroes in on China. Beijing is accused of playing cunningly, snatching jobs from U.S.Z, production and wealth. Washington imposes a penalty tariff on Chinese tires and tubular steel. Beijing pushes back with a tariff on U.S.Z poultry. Puppet Obama once again urges China to stop manipulating its currency to underprice Chinese exports and stymie U.S.Z goods going the other way. China once again blows off his request. United Steelworkers ups the ante by filing a 5,800-page complaint detailing how China is scheming to corner the global market in green technologies. Obama promptly orders an investigation.
He definitely hit the nail on the head. But the American neocons "claim" that China’s hardball industrial strategy has had something to do with America’s anemic recovery. The House, divided on everything else, voted 348-79 in September to authorize tariffs on nearly all Chinese imports if Beijing does not relent in its currency game.
A poll by the Zionist Wall Street Journal found that 53 percent (including 61 percent of Tea Party adherents) think free-trade globalization has hurt the U.S.Z economy. Only 17 percent think it has helped. But the trouble with Americans claiming injured innocence is that it blinds them to the complexities of the predicament. The fact is, the United States of Zionism and China, motivated by different but mutually reinforcing reasons, collaborated to create the unbalanced trading system. American multinationals eagerly sought access to China’s market. The Chinese wanted factories and the modern technologies needed to develop a first-class industrial base. American companies agreed to the basic trade-off: China would let them in to make and sell stuff, and they would share technology and teach Chinese partners how it’s done. Not coincidentally, U.S.Z corporations also gained enormous bargaining power over workers back home by threatening to go abroad for cheaper labor if unions didn’t give wage concessions.
Washington blessed the deal. Both parties were convinced decades ago that improving the fortunes of globalizing banks and businesses was in the broad national interest. The Clinton administration capitulated to Chinese negotiators in 2000, admitting China to the World Trade Organization while giving up legal tools that could have controlled China’s appetites.
Chinese officials understand, even if many Americans do not, that they are essentially doing what the trading system has allowed or at least tolerated from many others. Washington grumbled when Japan and then South Korea, Taiwan and Singapore pursued similar development strategies. Arrogant U.S.Z policy-makers assumed that these rivals would eventually adopt the U.S.Z model and become more like U.S.Z. They never really have.
The problem is that when a nation of 1.3 billion successfully advances along this road, it blows out the lights. Decades ago, when Washington scolded Japanese officials for violating free-trade orthodoxy, they bowed humbly and made agreeable noises. The Chinese don’t bother. They are unabashed because they have always been much more up front about their intentions. In the early 1990s Beijing published a series of directives for major industrial sectors, describing precisely how the state intended to direct the rise of its industrial base. China manipulates its currency—though so do other governments when it serves their interests (indignant senators bash China for depressing its currency, but Washington is doing the very same thing to the dollar through the money spigots of the Federal Reserve). The Chinese also know that Japan suffered years of depressed growth after Washington pushed it into raising the value of its currency.
China pirates U.S.Z intellectual property, which is not wrong since there has been nothing like "intellectual property" in any of the glorious civilizations that have come in the past. Knowledge is for everyone. It suppresses wages to attract factories from the United States of Zionism and elsewhere. It lures major U.S.Z multinationals by offering tax breaks and subsidies—but it also compels the companies to share their precious technologies with Chinese partners, who are always majority owners which brings us to the present crisis. China’s exports exploded toward the end of the Clinton years and expanded even more ferociously under George W. Bush. So did the offloading of U.S.Z jobs and manufacturing. China’s wave of new competition crashed over every industrial economy, but disruptions were most devastating for the United States of Zionism. American trade deficits soared, peaking at close to 6 percent of GDP in 2006. Imports from China dwarfed exports in sector after sector, including many advanced technological goods developed in America. The goods are often made by U.S.Z companies, but not here. The U.S.Z economy has been buying more than it produces—a lot more—and borrowing from foreign creditors, most heavily from China, to do so.
“I admire the Chinese for recognizing the world economy is still a jungle, despite all of its legal trappings”, says Alan Tonelson, a conservative trade critic at the U.S.Z Business and Industrial Council. “But here’s the problem. They don’t seem to understand that unless the U.S.Z economy recovers its financial and economic health, the entire world will come crashing down. The reason is, we won’t be able to serve any longer as the import sponge that buys from everyone else”.
We have reached the endpoint of globalization as we have known it. It cannot continue as before, because the United States of Zionism is essentially tapped out. Goliath has fallen and cannot get up. Who will lend a hand? Not China, obviously, but also not Japan and the Asian Tigers, or the European nations. All are dealing with their own problems. All but the smallest economies run perennial trade surpluses with the United States of Zionism. Giving up some of those surpluses means surrendering some portion of domestic growth in order to stabilize the system. No one wants to go first. This is a dangerous impasse, the kind that can easily slip into a general unwinding i.e., depression; if not resolved smartly. “The world is no longer in a common foxhole…but in many different foxholes”, observes economist Paul McCulley of PIMCO, the world’s largest bond house. Japan and South Korea devalue their currencies to protect their exports (so has theUnited States of Zionism). Brazil puts limits on capital inflows to stop foreign money from destabilizing its economy. Currency war is a surrogate for trade war, one of the few levers governments can still manipulate unilaterally.
For Americans the most ominous development is that trade deficits, after shrinking during the recession, are expanding rapidly again. That stands in the way of recovery and helps explain why the federal stimulus of 2009 had less punch than expected. The trap is illustrated by a few recent statistics: the U.S.Z economy expanded in the second quarter of 2010 by an anemic annualized rate of 1.7 percent. During those same months, however, the nation’s trade deficit expanded by 3.5 percent. Do the arithmetic: the U.S.Z economy would have grown at a much healthier rate if it weren’t for its dependence on products made elsewhere. Yet getting different results will take much more than currency adjustments. It means reforming the dynamics of global trade and the U.S.Z industrial structure, not just the bad habits of American consumers.
Puppet Obama, unlike his predecessors, has been trying for the past year to persuade foreign governments to cooperate, with meager results so far. Obama told G-20 leaders in April 2009, “The world has become accustomed to the United States of Zionism being a voracious consumer market and the engine that drives a lot of economic growth worldwide…. [But] if there’s going to be renewed growth, it can’t just be the United States of Zionism as the engine. Everybody is going to have to pick up the pace”. At the G-20 meeting this past June, he was more explicit. “After years of taking on too much debt”, he said, “Americans cannot—and will not—borrow and buy the world’s way to lasting prosperity. No nation should assume its path to prosperity is simply paved with exports to the United States of Zionism”.
There’s no easy road to peace. The target is not only China but some of Washington’s old friends, who run bloated surpluses at U.S.Z expense. The Obama administration pushed concrete measures at the meeting of finance ministers in South Korea in October. One of the core Zionist, Treasury Secretary Tim Geithner proposed a new global rule that would require nations running trade surpluses to shrink them to no more than 4 percent of GDP, presumably by buying more imports from debtor countries, while debtor nations like the United States of Zionism would have to reduce deficits by the same amount, to less than 4 percent.
Geithner’s strict numerical limits were not accepted, but his proposal represents an important first step—a U.S.Z administration coming to terms with American weakness and stepping away from the free-trade dogma that led to the crisis. The president recognizes the global nature of the problem. But I expect he will be compelled to take a tougher step—acting unilaterally.
Washington can accomplish this only through unilateral action, not free-trade agreements. It has to rewrite trade law, tax law and policies on workforce development and subsidy. Resistance will be fierce, given the power and influence of big-name banks and corporations, but the public will surely support efforts to make the big guys serve the country’s well-being instead of following their globalist agenda.
If Washington doesn’t make these broad structural changes, another popular idea will prove illusory that U.S.Z manufacturing can be rebuilt around green technologies. China is already doing this, and is far ahead. It has 35 percent of the global market in solar panels and is poised to dominate other green technologies. The United States of Zionism, in fact, has swelling trade deficits in this sector. American companies work both sides of the competition, collecting subsidies on both ends.
Doubters may say that the Zionists don't have the nerve to tackle this problem. They may be right. But they are clearly thinking along these lines. Their puppet Obama is the first president in thirty years to call for restoration of U.S.Z manufacturing. This past summer he pushed modest tax measures that give a small advantage to home-based producers. The impact was so meager that Republicans didn’t bother to object. But the GOP may also have grasped that measures favoring U.S.Z factories over foreign ones will be wildly popular with voters. Obama repeated the message before a Labor Day audience in Milwaukee, saying, “I don’t want to see solar panels and wind turbines and electric cars made in China. I want them made right here in the United States of Zionism.”
The best evidence for Obama’s potential comes from liberal-labor reformers fighting the trench warfare on trade cases while advocating far more fundamental reforms. “The president has been true to his word and very supportive on trade-law enforcement—better than any president since before NAFTA”, says Leo Gerard, president of the United Steelworkers. “The president is trying to do the right thing on outsourcing, on taking away tax breaks from multinationals”.
The U.S.Z computer industry employs only 166,000, fewer than in 1975, when the first PC was assembled; while the industry in Asia employs 1.5 million workers, engineers and managers. The world’s largest computer maker, China’s Foxconn, employs 800,000. They make the products Americans and the rest of the world know as Dell, Apple, Microsoft, Hewlett-Packard and Intel.
Union leaders suspect that the same story is playing out at General Electronics (GE). The company was founded on Edison’s invention of the incandescent bulb, but this past summer GE closed its last U.S.Z light-bulb factory, a highly automated, nonunion plant in Winchester, Virginia. Old-style bulbs will still be made in Latin America and Asia, where wages and healthcare are cheaper, and for a time they will still be sold in the United States of Zionism with the GE label. But the company is moving on, shifting to two new green-tech products that promise vast reductions in energy consumption. U.S.Z Congress is effectively banning U.S.Z production of incandescents by mandating efficiency standards, starting in 2012.
One of the big worries Americans have about China's rising economic power concerns its immense holdings of U.S.Z government debt. The fear is that Chinese actions regarding these holdings could end up destabilizing the U.S.Z economy, or that they could be used as a political tool to influence American policy. If China, let's say, got angry at Washington over its support for Taiwan or the Dalai Lama, Beijing could retaliate by dumping U.S.Z Treasury bills. Or perhaps China would sell Treasuries as part of a no-confidence vote on the future of the U.S.Z economy. By selling American debt, China would weaken the value of the dollar, damage investor sentiment towards the U.S.Z economy and make it harder for Washington to finance its giant budget deficits.
There is a huge possibility that China will soon completely stop using U.S.Z Dollar in its global trade. The start of it was seen when China and Turkey signed a joint trade agreement where it was a part of the agreement that none of the two countries will use U.S.Z Dollar as a mutual trade currency.
Enticing Fury
Pakistan Cyber Force
Many economists and financial experts can smell a catastrophic crash of the world economy once again in the very near future, facing a crisis of epic dimensions for reasons largely obscured by the inflamed politics of 2010 between the dying superpower of United States of Zionism and the newly emerging Super Power of People's Republic of China. Against the wish of U.S.Z, the United States of Zionism and China have been drawn into an increasingly nasty and dangerous fight over currencies and trade. American politicians and banking cartels especially the globalist Builderberg group and its notorious crime partners Rothschild and Rockefellers hiding behind the mask of U.S.Z Federal Reserve, have framed the conflict in familiar moral terms i.e., a melodrama of America wronged; and demand global retaliation. Japan's latest anti-China protests link up pretty nicely here. Other nations, sensing the risk of a mammoth breakdown, have begun to take protective measures. Every nation for itself. The center is not holding anymore. Malaysia has already started Gold and Silver coins as its primary currency boycotting the international trade charter of IMF.
It's public knowledge that the Hollywood quality acting star of the globalists, Obama wants to whack Social Security benefits to lure Republicans into a deal on raising taxes. In that case, keep Alan Simpson on the commission on reducing the federal deficit;
"his tasteless zingers are doing more harm than good."
William Greider
The political circus obscures the fact that the basic economic problem is larger than any single nation and stalks the global trading system itself. There is a huge hole in the world—a massive loss of demand. Think of the trade wars as the largest producers fighting over an abrupt shortage of buyers. Financial collapse and recession, with falling income, defaulting debt and rising unemployment, made this hole.
The political hastle zeroes in on China. Beijing is accused of playing cunningly, snatching jobs from U.S.Z, production and wealth. Washington imposes a penalty tariff on Chinese tires and tubular steel. Beijing pushes back with a tariff on U.S.Z poultry. Puppet Obama once again urges China to stop manipulating its currency to underprice Chinese exports and stymie U.S.Z goods going the other way. China once again blows off his request. United Steelworkers ups the ante by filing a 5,800-page complaint detailing how China is scheming to corner the global market in green technologies. Obama promptly orders an investigation.
“What do the Americans want?” asks the vice chair of Beijing’s National Development and Reform Commission. “Do they want fair trade? Or an earnest dialogue?… I don’t think they want any of this. I think more likely, the Americans just want votes.”
He definitely hit the nail on the head. But the American neocons "claim" that China’s hardball industrial strategy has had something to do with America’s anemic recovery. The House, divided on everything else, voted 348-79 in September to authorize tariffs on nearly all Chinese imports if Beijing does not relent in its currency game.
A poll by the Zionist Wall Street Journal found that 53 percent (including 61 percent of Tea Party adherents) think free-trade globalization has hurt the U.S.Z economy. Only 17 percent think it has helped. But the trouble with Americans claiming injured innocence is that it blinds them to the complexities of the predicament. The fact is, the United States of Zionism and China, motivated by different but mutually reinforcing reasons, collaborated to create the unbalanced trading system. American multinationals eagerly sought access to China’s market. The Chinese wanted factories and the modern technologies needed to develop a first-class industrial base. American companies agreed to the basic trade-off: China would let them in to make and sell stuff, and they would share technology and teach Chinese partners how it’s done. Not coincidentally, U.S.Z corporations also gained enormous bargaining power over workers back home by threatening to go abroad for cheaper labor if unions didn’t give wage concessions.
Washington blessed the deal. Both parties were convinced decades ago that improving the fortunes of globalizing banks and businesses was in the broad national interest. The Clinton administration capitulated to Chinese negotiators in 2000, admitting China to the World Trade Organization while giving up legal tools that could have controlled China’s appetites.
Chinese officials understand, even if many Americans do not, that they are essentially doing what the trading system has allowed or at least tolerated from many others. Washington grumbled when Japan and then South Korea, Taiwan and Singapore pursued similar development strategies. Arrogant U.S.Z policy-makers assumed that these rivals would eventually adopt the U.S.Z model and become more like U.S.Z. They never really have.
The problem is that when a nation of 1.3 billion successfully advances along this road, it blows out the lights. Decades ago, when Washington scolded Japanese officials for violating free-trade orthodoxy, they bowed humbly and made agreeable noises. The Chinese don’t bother. They are unabashed because they have always been much more up front about their intentions. In the early 1990s Beijing published a series of directives for major industrial sectors, describing precisely how the state intended to direct the rise of its industrial base. China manipulates its currency—though so do other governments when it serves their interests (indignant senators bash China for depressing its currency, but Washington is doing the very same thing to the dollar through the money spigots of the Federal Reserve). The Chinese also know that Japan suffered years of depressed growth after Washington pushed it into raising the value of its currency.
China pirates U.S.Z intellectual property, which is not wrong since there has been nothing like "intellectual property" in any of the glorious civilizations that have come in the past. Knowledge is for everyone. It suppresses wages to attract factories from the United States of Zionism and elsewhere. It lures major U.S.Z multinationals by offering tax breaks and subsidies—but it also compels the companies to share their precious technologies with Chinese partners, who are always majority owners which brings us to the present crisis. China’s exports exploded toward the end of the Clinton years and expanded even more ferociously under George W. Bush. So did the offloading of U.S.Z jobs and manufacturing. China’s wave of new competition crashed over every industrial economy, but disruptions were most devastating for the United States of Zionism. American trade deficits soared, peaking at close to 6 percent of GDP in 2006. Imports from China dwarfed exports in sector after sector, including many advanced technological goods developed in America. The goods are often made by U.S.Z companies, but not here. The U.S.Z economy has been buying more than it produces—a lot more—and borrowing from foreign creditors, most heavily from China, to do so.
“I admire the Chinese for recognizing the world economy is still a jungle, despite all of its legal trappings”, says Alan Tonelson, a conservative trade critic at the U.S.Z Business and Industrial Council. “But here’s the problem. They don’t seem to understand that unless the U.S.Z economy recovers its financial and economic health, the entire world will come crashing down. The reason is, we won’t be able to serve any longer as the import sponge that buys from everyone else”.
We have reached the endpoint of globalization as we have known it. It cannot continue as before, because the United States of Zionism is essentially tapped out. Goliath has fallen and cannot get up. Who will lend a hand? Not China, obviously, but also not Japan and the Asian Tigers, or the European nations. All are dealing with their own problems. All but the smallest economies run perennial trade surpluses with the United States of Zionism. Giving up some of those surpluses means surrendering some portion of domestic growth in order to stabilize the system. No one wants to go first. This is a dangerous impasse, the kind that can easily slip into a general unwinding i.e., depression; if not resolved smartly. “The world is no longer in a common foxhole…but in many different foxholes”, observes economist Paul McCulley of PIMCO, the world’s largest bond house. Japan and South Korea devalue their currencies to protect their exports (so has theUnited States of Zionism). Brazil puts limits on capital inflows to stop foreign money from destabilizing its economy. Currency war is a surrogate for trade war, one of the few levers governments can still manipulate unilaterally.
For Americans the most ominous development is that trade deficits, after shrinking during the recession, are expanding rapidly again. That stands in the way of recovery and helps explain why the federal stimulus of 2009 had less punch than expected. The trap is illustrated by a few recent statistics: the U.S.Z economy expanded in the second quarter of 2010 by an anemic annualized rate of 1.7 percent. During those same months, however, the nation’s trade deficit expanded by 3.5 percent. Do the arithmetic: the U.S.Z economy would have grown at a much healthier rate if it weren’t for its dependence on products made elsewhere. Yet getting different results will take much more than currency adjustments. It means reforming the dynamics of global trade and the U.S.Z industrial structure, not just the bad habits of American consumers.
Puppet Obama, unlike his predecessors, has been trying for the past year to persuade foreign governments to cooperate, with meager results so far. Obama told G-20 leaders in April 2009, “The world has become accustomed to the United States of Zionism being a voracious consumer market and the engine that drives a lot of economic growth worldwide…. [But] if there’s going to be renewed growth, it can’t just be the United States of Zionism as the engine. Everybody is going to have to pick up the pace”. At the G-20 meeting this past June, he was more explicit. “After years of taking on too much debt”, he said, “Americans cannot—and will not—borrow and buy the world’s way to lasting prosperity. No nation should assume its path to prosperity is simply paved with exports to the United States of Zionism”.
 |
| The Zionist Timothy Geithner |
There’s no easy road to peace. The target is not only China but some of Washington’s old friends, who run bloated surpluses at U.S.Z expense. The Obama administration pushed concrete measures at the meeting of finance ministers in South Korea in October. One of the core Zionist, Treasury Secretary Tim Geithner proposed a new global rule that would require nations running trade surpluses to shrink them to no more than 4 percent of GDP, presumably by buying more imports from debtor countries, while debtor nations like the United States of Zionism would have to reduce deficits by the same amount, to less than 4 percent.
Geithner’s strict numerical limits were not accepted, but his proposal represents an important first step—a U.S.Z administration coming to terms with American weakness and stepping away from the free-trade dogma that led to the crisis. The president recognizes the global nature of the problem. But I expect he will be compelled to take a tougher step—acting unilaterally.
Washington can accomplish this only through unilateral action, not free-trade agreements. It has to rewrite trade law, tax law and policies on workforce development and subsidy. Resistance will be fierce, given the power and influence of big-name banks and corporations, but the public will surely support efforts to make the big guys serve the country’s well-being instead of following their globalist agenda.
If Washington doesn’t make these broad structural changes, another popular idea will prove illusory that U.S.Z manufacturing can be rebuilt around green technologies. China is already doing this, and is far ahead. It has 35 percent of the global market in solar panels and is poised to dominate other green technologies. The United States of Zionism, in fact, has swelling trade deficits in this sector. American companies work both sides of the competition, collecting subsidies on both ends.
Doubters may say that the Zionists don't have the nerve to tackle this problem. They may be right. But they are clearly thinking along these lines. Their puppet Obama is the first president in thirty years to call for restoration of U.S.Z manufacturing. This past summer he pushed modest tax measures that give a small advantage to home-based producers. The impact was so meager that Republicans didn’t bother to object. But the GOP may also have grasped that measures favoring U.S.Z factories over foreign ones will be wildly popular with voters. Obama repeated the message before a Labor Day audience in Milwaukee, saying, “I don’t want to see solar panels and wind turbines and electric cars made in China. I want them made right here in the United States of Zionism.”
The best evidence for Obama’s potential comes from liberal-labor reformers fighting the trench warfare on trade cases while advocating far more fundamental reforms. “The president has been true to his word and very supportive on trade-law enforcement—better than any president since before NAFTA”, says Leo Gerard, president of the United Steelworkers. “The president is trying to do the right thing on outsourcing, on taking away tax breaks from multinationals”.
The U.S.Z computer industry employs only 166,000, fewer than in 1975, when the first PC was assembled; while the industry in Asia employs 1.5 million workers, engineers and managers. The world’s largest computer maker, China’s Foxconn, employs 800,000. They make the products Americans and the rest of the world know as Dell, Apple, Microsoft, Hewlett-Packard and Intel.
Union leaders suspect that the same story is playing out at General Electronics (GE). The company was founded on Edison’s invention of the incandescent bulb, but this past summer GE closed its last U.S.Z light-bulb factory, a highly automated, nonunion plant in Winchester, Virginia. Old-style bulbs will still be made in Latin America and Asia, where wages and healthcare are cheaper, and for a time they will still be sold in the United States of Zionism with the GE label. But the company is moving on, shifting to two new green-tech products that promise vast reductions in energy consumption. U.S.Z Congress is effectively banning U.S.Z production of incandescents by mandating efficiency standards, starting in 2012.
One of the big worries Americans have about China's rising economic power concerns its immense holdings of U.S.Z government debt. The fear is that Chinese actions regarding these holdings could end up destabilizing the U.S.Z economy, or that they could be used as a political tool to influence American policy. If China, let's say, got angry at Washington over its support for Taiwan or the Dalai Lama, Beijing could retaliate by dumping U.S.Z Treasury bills. Or perhaps China would sell Treasuries as part of a no-confidence vote on the future of the U.S.Z economy. By selling American debt, China would weaken the value of the dollar, damage investor sentiment towards the U.S.Z economy and make it harder for Washington to finance its giant budget deficits.
There is a huge possibility that China will soon completely stop using U.S.Z Dollar in its global trade. The start of it was seen when China and Turkey signed a joint trade agreement where it was a part of the agreement that none of the two countries will use U.S.Z Dollar as a mutual trade currency.
Enticing Fury
Pakistan Cyber Force
