Don’t Piss Off China – Listen To Ron Paul
Posted by bosskitty on August 12, 2007
China’s US$1.3 trillion in foreign exchange reserves are the largest in the world and are believed to be comprised largely of dollar assets, potentially giving Beijing enormous sway over the dollar’s value and currency markets worldwide.
…. Chinese government economists as saying China would dump its dollar holdings in the event of a trade war with Washington added to jitters in stock markets already unnerved by volatility in U.S. share markets.
Once again the federal government has reached its “debt ceiling,” and once again Congress is poised to authorize an increase in government borrowing. Between its ever-growing bureaucracies, expanding entitlements, and overseas military entanglements, the federal government is borrowing roughly one billion dollars every day to pay its bills.
Federal law limits the amount of debt the U.S. Treasury may carry, and the current amount – a whopping $7.4 trillion – has been reached once again by a spendthrift federal government. Total federal spending, which now exceeds $2 trillion annually, once took more than 100 years to double. Today it doubles in less than a decade, and the rate is accelerating. When President Reagan entered office in 1981 facing a federal debt of $1 trillion that had piled up over the decades, he declared that figure “incomprehensible.” At its present rate of spending, the federal government will soon amass $1 trillion of new debt in just one year.
Why am I hearing these facts from a Libertarian? Why aren’t these facts being debated by all candidates candidly? America’s decisions must pass scrutiny by China before it listens to American Taxpayers? What exactly is the American voice in this equation? It’s not rocket science to understand that your child’s allowance will suffer when you must pay the mortgage instead. China seems to hold the note on this country, that’s fine with me as long as I don’t suffer from neglect by those I elect to administer the business of America. America’s allowance is the welfare of our infrastructure. We know all about that because we destroyed Iraq’s infrastructure and must pay to rebuild it. Meantime, our bridges are falling, our roads need repair, our local services are scraping by, our water supply is getting polluted and dwindling, our sewer systems are collapsing and our kids health care is pitiful. Oh, forgot, our electrical grid is becoming unreliable. So, what does this all mean? Ever hear of “robbing Peter to pay Paul”? Well, Peter is pissed and Ron Paul knows it.
Is this why Bush has Armageddon envy? Will this cancel our debts? It surely get everyone’s mind off his criminal behavior and focus on personal survival!