The China Symdrome

No, not a nuclear meltdown, but the financial nuke China holds over the US.

Paul Krugman has a new editorial stating, basically, that we have China over a barrel and not the other way around. Here is the part of the article where the faulty reasoning shines through:

It’s true that if China dumped its U.S. assets the value of the dollar would fall against other major currencies, such as the euro. But that would be a good thing for the United States, since it would make our goods more competitive and reduce our trade deficit. On the other hand, it would be a bad thing for China, which would suffer large losses on its dollar holdings. In short, right now America has China over a barrel, not the other way around.

Our dollar is already very weak against other currencies. Making it weaker (by trying to outprint China) will only make it worse. The proposed upside here, that our exports would be worth more would mean something if we still actually made anything. Corporate America has spent decades shipping all the manufacturing jobs overseas (a bunch to China in fact) to turn us more into a consuming society rather than a producing society.

The problem is obvious, the answers aren’t. We have been engineered to be bled dry and now that the turnip is out of blood, and people are getting scared. Rightly so perhaps. The few that seem to have enough brain cells to figure this all out are vastly outnumbered by the ones that will only realize what’s going on once American Idol is shut off and they are being marched into train cars. It’s not China ‘doing this,’ it’s all part of the plan. China is just playing their role in the whole thing. The few (white) folks at the top are still the ones in command, manipulating the globe to their desires. So all you NASCAR drinking idiots can at least rest assured that you aren’t being destroyed by some minority you hate and fear, but by rich white guys that you somehow believe you can one day be…once your trailer is paid off, right?

Also, are we still bothering to pretend that Obama is some beacon of civil liberties and all that? This should certainly be the final piece of evidence you need to see why that is all fake. Collecting everyone’s DNA that is suspected of a crime (i.e. arrested) and even for traffic stops. Not to invoking Godwin’s law for the heck of it, but this really is way beyond Nazi level control. It just is.


One Response to “The China Symdrome”

  1. Krugman’s been salivating for the death of the dollar for years now. Our economy being destroyed and no longer the basis for international commerce is the one best hope he has for the neo-Socialist, government-ran economy that he so desperately desires.

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