The Discerning Texan

All that is necessary for evil to triumph, is for good men to do nothing.
-- Edmund Burke
Monday, June 01, 2009

Chinese Lauging at Geithner's Claims of US Solvency; Russians laughing at Obama's Incompetence

As the Chinese consider whether or not their enormous investment in the United States is worth throwing good money after bad, the US is sending all the Kings Men (and Nancy Pelosi) to beg and plead with China to (please) keep buying our T-Bills.

Geithner was over there yesterday, speaking to a serious group of Chinese business students (students of Capitalism) about the viability of the dollar under the Obama Administration's "plan". And what did these students do?

They laughed at him. Not with him AT him.

More on the Geithner visit via Jim Hoft:

China To Geithner: It Would Be Helpful If You Could Show Us Some Numbers

Geithner told China yesterday that the Obama Administration was committed to bringing down the US deficit.

Barack Obama will quadruple the deficit this year.

Geithner also told China that Team Obama wants to bring down the deficit next year from 12.9% of GDP this year to 3% of GDP next year (a near impossibility)...
Or, in other words, back into Bush territory.

In response, China told Geithner to show them some numbers!
Bloomberg reported, via Bizblogger:

In an interview with Bloomberg Television May 21, Geithner said the administration’s goal is to cut the budget shortfall to 3 percent of gross domestic product or smaller. That would be down from a projected 12.9 percent this year.

Seventeen of 23 Chinese economists polled in connection with Geithner’s visit said holdings of Treasuries are a “great risk” for the nation’s economy, according to a Chinese state media report yesterday. Still, the majority argued against quickly cutting them, the Beijing-based Global Times reported.

Geithner, 47, needs to show how the U.S. can prevent the value of China’s investment from being eroded by a weaker dollar or by the inflation that might be stoked by the stimulus money being pumped into the U.S. economy, according to Yu.

“It will be helpful if Geithner can show us some arithmetic,” he said.

...The Treasury released a transcript May 30 of a briefing Geithner gave last week at the Foreign Press Center in Washington. In it, he said he will stress with Chinese officials that he’s intent on maintaining the dollar’s strength.

“I will, of course, make it clear that we are committed to a strong dollar, that we are committed to bringing our fiscal deficits down over the medium term to a sustainable place, to a sustainable level,” Geithner said in the briefing May 27. “We believe in a strong dollar. A strong dollar is in the U.S. interest.”
This doesn't sound good at all.
No wonder China is concerned.

The US has lost 16,000 jobs each day since Obama signed the Spendulus Bill and sunk the US economy further into debt.

More... Geithner to China—Trust Me—Pigs Really Can Fly!
When you couple this humiliating performance with the Pravda (yes, THAT Pravda) story which appeared on their online site yesterday, well you begin to get the picture of powerful nations who are rubbing their hands in glee at the incompetence and destructiveness of these aparatchiks--and looking forward to exploiting the Democrats' cronyism and incompetence by doing business with countries who understand business and know how capitalism and profit works.

(That used to be us, folks.)

Here is the Pravda story, for those who missed it. Emphasis is mine:
American Capitalism Gone with a Whimper
It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.
True, the situation has been well prepared on and off for the past century, especially the past twenty years. The initial testing grounds was conducted upon our Holy Russia and a bloody test it was. But we Russians would not just roll over and give up our freedoms and our souls, no matter how much money Wall Street poured into the fists of the Marxists.
Those lessons were taken and used to properly prepare the American populace for the surrender of their freedoms and souls, to the whims of their elites and betters.
First, the population was dumbed down through a politicized and substandard education system based on pop culture, rather then the classics. Americans know more about their favorite TV dramas then the drama in DC that directly affects their lives. They care more for their "right" to choke down a McDonalds burger or a BurgerKing burger than for their constitutional rights. Then they turn around and lecture us about our rights and about our "democracy". Pride blindeth the foolish.

Then their faith in God was destroyed, until their churches, all tens of thousands of different "branches and denominations" were for the most part little more then Sunday circuses and their televangelists and top protestant mega preachers were more then happy to sell out their souls and flocks to be on the "winning" side of one pseudo Marxist politician or another. Their flocks may complain, but when explained that they would be on the "winning" side, their flocks were ever so quick to reject Christ in hopes for earthly power. Even our Holy Orthodox churches are scandalously liberalized in America.

The final collapse has come with the election of Barack Obama. His speed in the past three months has been truly impressive. His spending and money printing has been a record setting, not just in America 's short history but in the world. If this keeps up for more then another year, and there is no sign that it will not, America at best will resemble the Wiemar Republic and at worst Zimbabwe.

These past two weeks have been the most breath taking of all. First came the announcement of a planned redesign of the American Byzantine tax system, by the very thieves who used it to bankroll their thefts, loses and swindles of hundreds of billions of dollars. These make our Russian oligarchs look little more then ordinary street thugs, in comparison. Yes, the Americans have beat our own thieves in the sheer volumes. Should we congratulate them?

These men, of course, are not an elected panel but made up of appointees picked from the very financial oligarchs and their henchmen who are now gorging themselves on trillions of American dollars, in one bailout after another. They are also usurping the rights, duties and powers of the American congress (parliament). Again, congress has put up little more then a whimper to their masters.

Then came Barack Obama's command that GM's (General Motors') president step down from leadership of his company. That is correct, dear reader, in the land of "pure" free markets, the American president now has the power, the self given power, to fire CEOs and we can assume other employees of private companies, at will. Come hither, go dither, the centurion commands his minions.

So it should be no surprise, that the American president has followed this up with a "bold" move of declaring that he and another group of unelected, chosen stooges will now redesign the entire automotive industry and will even be the guarantee of automobile policies. I am sure that if given the chance, they would happily try and redesign it for the whole of the world, too. Prime Minister Putin, less then two months ago, warned Obama and UK's Blair, not to follow the path to Marxism, it only leads to disaster. Apparently, even though we suffered 70 years of this Western sponsored horror show, we know nothing, as foolish, drunken Russians, so let our "wise" Anglo-Saxon fools find out the folly of their own pride.

Again, the American public has taken this with barely a whimper...but a "freeman" whimper.

So, should it be any surprise to discover that the Democratically controlled Congress of America is working on passing a new regulation that would give the American Treasury department the power to set "fair" maximum salaries, evaluate performance and control how private companies give out pay raises and bonuses? Senator Barney Frank, a social pervert basking in his homosexuality (of course, amongst the modern, enlightened American societal norm, as well as that of the general West, homosexuality is not only not a looked down upon life choice, but is often praised as a virtue) and his Marxist enlightenment, has led this effort. He stresses that this only affects companies that receive government monies, but it is retroactive and taken to a logical extreme, this would include any company or industry that has ever received a tax break or incentive.

The Russian owners of American companies and industries should look thoughtfully at this and the option of closing their facilities down and fleeing the land of the Red as fast as possible. In other words, divest while there is still value left.

The proud American will go down into his slavery with out a fight, beating his chest and proclaiming to the world, how free he really is. The world will only snicker.
My God. The very people who had been oppressed by the Sovs are now busy ridiculing us in the Former CAPITAL of Marxism. And with good reason!

This is what happens when a clueless communitiy organizer--a Marxist ideologue anti-Constitutionalist, who has never run any enterprise for profit in his entire life--now finds himself running two of the three largest auto companies in the United States and what was once the envy of the world. And when he takes a $240,000 "date night" to Broadway with his wife on the taxpayers tab, all they can do is to cheer this destroyer of everything good about this country.

If we do not wake up fast, Moscow or Beijing might become really good alternatives to our own country. Barack Obama, his drones in Congress and the Press are flushing the rest of us down the cesspool of Socialism--which has NEVER engendered prosperity ANYWHERE--while they use the Greatest Experiment that has ever existed as a test lab for their own sick and discredited ideology.

I am beyond mad now; I am ashamed of my fellow citizens who were stupid enough to vote for this charlatan. Yes, I use that word purposefully: STUPID. Mentally lazy. Sheep (to use our Russian friend's word). Drones marching in lock step to a sick culture and a sicker media beat.

Generations from now--if we do not act to derail this oncoming freight train soon--we will be the generation blamed for turning the United States into a third world country, in the name of some utopian pipe dream of "fairness for all". The Russians well know the result of this dream; they know how it sucks the very life force out of an economy, the will to succeed, compete, and innovate, and ultimately, the will to live. Ask someone in East Berlin about Socialism and the STASI. Ask a Romanian or a Pole or a Czech citizen who lived under that pipe dream. We were their light in the darkness of oppression. We were their hope. Ronald Reagan stood there and said "tear down this wall". And then he forced them to do it. And now we have a President who seems destined to build a "do not enter, ye who want to prosper" wall around our own country.

Disgusting. Sickening.

Over half of our country has been sleeping and watching the freaking View while their country is systematically being destroyed by this President. And it is not like this is not happening in slow motion. This is reminiscent of the Atlee destruction of Great Britain after WWII.

After passing the Obama Porkulus budget, the United States, whose national debt had accumulated to a point from the birth of the Republic until January 20, 2009--will see that entire debt DOUBLE over the next 10 years. What Barack Obama has done to this country and this economy is not merely irresponsible, it is criminal. And, personally, I think he is doing it on purpose in a sick, pathetic attempt to make every single American dependant on Government and only Government from cradle to grave. They will decide when if and how you live and when if and how you die. Welcome to the New East Germany, folks! And you voted for it!

Meanwhile, the other half of the country--those who were not fooled by this narcissist--don't seem to be too terribly upset (nor organized) either. And McCain was not that great an alternative. But in retrospect, the choice was not even close...

It is time to change all that. We need a person now who is the anti-McCain. We need a visionary--a Reagan or a Churchill if you will--to lead us out of this darkness. But we need to start first by flushing this Congress into the cesspool next year. And that is going to require off-year organization like never before.

Otherwise we can kiss it goodbye. Future generations will suffer like none before them have suffered. And it will be our fault.
DiscerningTexan, 6/01/2009 04:43:00 PM |