China Owns America – Is Trying To Kill Our Children – UPDATED
Posted By JM Bell on October 31, 2007
Does anyone have a dollar amount on how much of our debt China owns?* I heard a report last year on NPR where an economist was wetting himself at the thought of China dumping the dollar for the euro. He sounded scared. It, in turn, freaked me out a little bit.
Misty, over at Saintless, sent me this article from CNN asking why we’re still doing business with China:
Halloween ‘Ugly Teeth’ recalled over high lead levels
WASHINGTON (AP) — The government announced an 11th-hour recall Wednesday to warn consumers that fake Halloween teeth sold by the tens of thousands since last year contain excessive amounts of lead.
The $2 packages of “Ugly Teeth” are only the latest in a long line of Chinese-made toys and novelty items recalled because of lead. The Consumer Product Safety Commission announced the recall on Halloween, in a late-morning news release.
The agency estimates that since January 2006, retailers have sold about 43,000 eight-piece packages of the party favors. There were no immediate reports of injuries or illness.
Amscan Inc. of Elmsford, New York, imported the fake teeth. A message left with the company was not immediately returned.
My answer? Because we have to. And it’s not a Bush thing, really, either. The American Government has been kissing China’s ass for decades because China keeps loaning us money. We cut off their exports, they recall the debt, or dump the T-bils nd grab the Euro, and, seriously, we’re screwed.
President Clinton gave us the best chance at protecting ourselves by paying down the deficit, but, when he went out of office, the Republican Congress and the former Governor of Texas reversed the self sustaining trend and got us into hotter water at three times the depth.
I’m not saying that Clinton was doing it to get us out from under China, but, the thing about paying off your debts is: When your brother calls to remind you about the $200 bucks you owe him and then asks to borrow your car, you have no moral standing to say no. If he asks and you don’t owe him anything, you can laugh the whole time you’re hanging up on him.
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And, Misty comes through again ( in the comments) to give me a Halloween Scaryashell:
In recent years, the debt has soared and inflation has stayed low in part because China has been willing to accumulate reserves denominated in U.S. Dollars. Currently, China holds over $1 trillion in dollar denominated assets (of which $330 billion are U.S. Treasury notes). In comparison, $1.4 trillion represents M1 or the “tight money supply” of U.S. Dollars which suggests that the value of the U.S. Dollar could change dramatically should China ever choose to divest itself of a large portion of those reserves.
Wikipedia says this:
In recent years, the debt has soared and inflation has stayed low in part because China has been willing to accumulate reserves denominated in U.S. Dollars. Currently, China holds over $1 trillion in dollar denominated assets (of which $330 billion are U.S. Treasury notes). In comparison, $1.4 trillion represents M1 or the “tight money supply” of U.S. Dollars which suggests that the value of the U.S. Dollar could change dramatically should China ever choose to divest itself of a large portion of those reserves.
http://en.wikipedia.org/wiki/United_States_public_debt
There hasn’t been a president since Andy Jackson bold enough to try and eliminate national debt. He managed to get it down to a paltry $28,000 – and no, I didn’t miss any zeros.
Andrew Jackson
Pro – Democrat, economist, tall
Con – Tried to wipe out the Native Americans
So much for the “free market” regulating itself.
Clinton tried to pay down the debt. He also let a bunch of nuclear missile technology go to the chinese, at the same time taking campaign donations from them. Now the chinese have the capability of hitting the united states with nukes. Read More.
http://archive.newsmax.com/archives/articles/2003/5/26/214938.shtml
Nukes-shmukes! China could crash our economy in one fell stroke! Talk about giving away the country! This was why the CEO of Mattel went over there recently and gave the leaders all a big suck after threatening to pull their business from China.
As a Mother of three Daughters, all the china product recalls, from pet food,toothpaste,dora, the explora, funny Holloween teeth, Now aqua beads, and curious George products! I don’t think we need to be rocket scientists to realize they are trying to make our children sick, or kill them! I know I am going to make sure the product I buy is made in America, in American factories! We need to reclaim America! I hope others will read this and do the same! We do have many USA toy companies, Lets give them our business!
God Bless, Susan
I don’t know if China is intentionally trying to kill American’s, it’s that the working conditions in China are so bad that half their products even kill Chinese people, seriously it’s worse than Mexico, that is a country that has NEVER known freedom or democracy.
But also, does China really own the US? I’m serious. During the Olympics, NO news station said even a word about the horrible things China was doing. What sort of threat did China make to the US to get them to shut up? I mean sure they can talk like they’re going to pull our contracts but the Free Media we have in this country would just flip the government the middle finger and report on it anyway if the US Government told them to keep it quiet. Did our government offer the media companies money or something? Does China actually own our media? What the hell is going on and why aren’t the citizen journalists and liberal media news sources bashing China into a bloody pulp for dissing America like they are? Someone please tell me what’s going on bc I’m so confused.
[...] J.M. Bell answers the title question, with a look at the [...]
Every time i come here I am not disappointing, nice post
Appreciate the info guys, thanks
2012……we’re screwed
we shouldn’t be blaming the chinese, but the american toy companies that don’t exert enough quality control over their chinese manufacturers. it’s not the worker’s fault to figure out if so and so paint is toxic, its not even the contractors problem. and since no one in china is buying this stupid plastic crap for their fat, ugly, overprivelleged children, no in china is complaining in sufficient numbers.
if there wasn’t sufficient penalties for dangerous low quality goods (i.e. laws, regulators, litigious ignorant blog posters) then even american manufacturers would be producing low quality shitty goods. read the jungle by upton sinclair. read about how nader put seatbelts in cars… dangerous products only become safe when people complain and the correct people are held accountable. in this case, said mom with her stupid children should be at the front door of Mattel CEO, asking for more quality control agents to scrutinize suppliers, production and facilities.
but wait, if the CEOs can produce a good enough red herring, then they win, americans never know who to get angry at, nothing gets done, and the CEOs cut a fat check for outsourcing american jobs.
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brandon has made the best statement.