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Only a jerk like you wouldn't get that ! The deficit stats were from 1985-1992 you &%@! and I didn't want to expand the list of Presidents back any further, Einstein !
This is the United States of America, In order to bring manufacturing and jobs back to the USA, we'll pay more for products made here ! Why are you trying to ruin our countries-economy even further with more unneeded foreign made products ? Haven't we destroyed our countries-economy enough buying your corrupt-criminal slave labor contraband !
according to Treas-Dept. "Direct bidding is open to a wide range of investors, but as a matter of gnrl-plcy we do not comment on indvdl bidders," says Matt Anderson, Treas-spksprsn, in a stmnt on the matter. In order to acmdt China, the US Treas-Dept had to upgrade its computer system to avoid hacking attempts. "It's also a big mistake to let the world's arch cybercriminal direct access to Treas-Dept computers," says Gordon. "What is Geithner thinking ? He should know better, but then again he always lets the Chinese walk all over him." In a phone-conv with Treas-Dept's Anderson, when asked to confirm whether any other govt has similar access or about how this change in policy developed, he reverted to Treas-Dept's previous statement.
Not only is China the largest US creditor, it is the largest exporter to this country. The US-China trade deficit widened to $51.8 billion in March up from $45.8 billion in February, growing at the fastest pace in the last 10 months, according to the US-Cmrc-Dept. "Unfortunately, by failing to address Chinese mercantilism, resulting trade deficit with China, the USA is getting too deeply in debt to the Middle Kingdom," says Unv-MD-econ-prof Peter Morici. "Granting it special status at Trsry is just another example of the policy of appeasement, pursued by both Pres, Bush, Obama." The change in US-China policy was not disclosed publicly, only discovered recently after Reuters sifted through Trsry docs. This nondisclosure is not unusual
"What’s Geithner Thinking ?” Treasury Grants China Direct Access to Buy US Bonds ! 5-22-2012 - In an unprecedented move, in June 2011 the US Treas-Dept granted the Chinese Govt direct-bidder status to purchase US-Trs direct from the US Govt, reports Reuters. All other cntrl-banks must purchase US-Trs through primary dealers on Wall Street, which then place bids on their behalf at Trsry-auctions. The People's Bank of China holds roughly $1.2 trillion in US debt, more than any other entity, and it is now the 1st foreign govt with direct computer access to the US govt Trsry auction process. "It's a big deal because the Chinese are getting very special treatment," says Forbes columnist Gordon Chang. It saves the Chinese Govt alot-$$.
Wake Up ! To What The Liberals-Dems-RINO's-Neo-Cons Have Done To Our-USA's Economy ! In 1985 the US-China Trade Deficit was only -600-million-$$ US-Foreign Unfair-Free-Trade Deficits Totals ! Goods-Products Obama - 2009-2012 --- 2.5-trillion-$$$ G-B-2 -- 2001-2008 -- 5.4-trillion-$$$ Clinton - 1993-2000 - 1.65-trillion-$$$ US-China Unfair-Free-Trade Deficits Totals ! Obama --- 2009-2012 -1.1--trillion-$$$ G-B-2 --- 2001-2008 -1.44-trillion-$$$ Clinton - 1993-2000 ---385-billion-$$$ G-B-1 --- 1985-1992 ----56-billion-$$$ Given-wasted-lost to; uncivilized-barbaric-sadistic, beligerent, corrupt-criminal Communist China ! In 1985 the US-China Trade Deficit was only -600-million-$$ Traitorous-Treasonous-Corrupt-Criminal-Disgrace !
we have witnessed a new breed the theo-classical-economist who maintain views akin to religious dogma. T-c-e's believe that govt must be removed from everything. The leading t-c-scholars in economic-law have now taught a generation of lawyers that a rule against fraud is not necessary or important. Their position is that markets automatically make fraud disappear. Unfortunately, that is a view that has no basis in reality or in any sound economic theory. It is contradicted by all human experience ! Alan Greenspan's role, infusing t-c-doctrine into govt: The Warning: video.pbs.org/video/1302794657 a superb doc, CFTC-Chair Brooksley Born warns about derivatives in the 1990's. Fed-Res-Chair, Al-Gs, high-level Reps-Dems crushed her !
that our most elite institutions are our worst ones, that time after time violate the law and cause recurrent intensifying crises ? Natural tendency of unregulated capitalism to evolve into crony capitalism: Pure capitalist systems do not exist anywhere - for very good reason; they throw lots of humanity into the ditch, and they produce elite criminals. Conservative economists like Adam Smith have recognized this from the beginning. They always emphasize that govt must be there. And they always emphasize one key role for govt: Enforcing the law against fraud. Even Ayn Rand emphasized that the govt is essential to stop businesses from using fraud. How economics has lost its way: Over the past 30 years in the US and Europe, we have
US Promotes Flawed Economic Dogma that Encourages Fraud and Needlessly Perpetuates a Pattern of Recurring and Intensifying Financial Crises Banks' traditional role as middleman: Some do very useful things for the world. According to economic theory, act as a m-m, take savings, accumulate money, make loans to co's to invest productively. M-m serve a very useful purpose, but should not be very big and should not make alot of money based on the efficiency principal. Elite financial institutions: In the world we live in, finance has become the dog instead of the tail. USA, 35% of all profits in business come from the financial sector, weakening the US-economy ! Overall, finance has lost its way - in an immensely destructive way. Why is it
were instructed to treat the business as the client. This was not a partisan effort. Everyone agreed, apart from a small group of rational folks who said this was insane. The USA exports theoclassical dogma, resulting in criminogenic environments, to the world: Americans tend to think of Europe as socialist, highly regulated. But 1 of our leading exports is economists. We train much of the world through our PhD programs. Senior ranks of Europe, key technocrats, have largely been taught theoclassical dogma. Result, across the entire EU banking regulation largely disappeared ! Looting: The Economic Underworld of Bankruptcy for Profit brookings.edu/~/media/Files/Programs/ES/BPEA/1993_2_bpea_papers/1993b_bpea_akerlof_romer_hall_mankiw.pdf
successor. The other gentlemen are holding pruning shears. The message is that they will destroy regulation - the rules. They will work hand in glove with the lobbyists to do so. Gillerin, holding the chain saw, is signalling that he is going to be completely indiscriminate. 2.bp.blogspot.com/_pMscxxELHEg/SSj9kLPDgvI/AAAAAAAAD1U/b7uNjYr5p-w/s320/chainsaw.png The view was that govt was a failure, the private sector was a success, the way for govt to become successful would be to emulate, embrace the private sector, to wack back with a chainsaw the role of govt. Wherever possible the goal was to privatize, remove govt. Where it was not possible to privatize, it would be downsized, put it in partnership with the private sector, regulators
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