At The Mercy Of China

Can it really be that time? Today is the eve of the long awaited S&ED conference.



On July 27th and 28th the initial meeting of the US-China Strategic & Economic Dialogue [S&ED] will occur in Washington. The American representatives have been named by President Obama and will be his Secretary of State Hillary R. Clinton and his Secretary of the Treasury Tim Geithner. Meetings of S&ED will be held twice a year with each nation alternating as host.

But for some reason I don't feel a tingle of excitement emanating from you. So please recall that the S&ED, created during Obama's Presidential tenure, will "facilitate robust engagement and progress between dialogues through coordination with existing bilateral dialogues and working level interaction." How can anyone possibly not know what that means?



The real facts surrounding this S&ED meeting are that, according to the Obama Administration in a report issued July 16, 2009, the government of the United States of America owes Communist China the sum of $801,500,000,000.00 and that is only through the end of May 2009. The logic therefore is that through the use of the S&ED our biggest creditor by far wants to take a closer look at its debtor and the debtor's ability for repayment. The economic bad news as it applies to China does not stop there. If you omit the expense for the importation of oil, the remaining American trade deficit is held by Communist China at the ominous figure of 83%. While our economy is in a major recession, the economy of Communist China grew by 7.1% in just the first half of this year. By all forecasts, the end of 2009 will show that the second largest economy in the world will no longer be Japan but will be Communist China. America will still be the largest.



If these economically depressing calculations are not bad enough, Obama now wishes to spend billions if not trillions of more dollars in the socialization of the healthcare industry and also restrict American industrial growth via the cap-and-trade policy. This cap-and-trade policy has been rejected by India and Communist China with the result that the world's atmosphere will not be improved but the life style of Americans will erode. The Communist Chinese explanation for rejecting cap-and-trade is that the ratio of their carbon footprint to their population is so much lower than that of the United States there is no reason for them to even consider the policy.



The bottom line is that Communist China has a death grip on our economy. That Obama's pending policies will erode even more the financial future of America. That our financial independence will be addressed by Secretary Geithner who was laughed at by Chinese college students and by Secretary Clinton who has little in the way of international affairs esteem accruing to her from overseas leaders or from the White House.



Stay tuned, it will get worse.