China Ditches US Dollar with $50 Billion IMF Bond Purchase
Last Wednesday China officially began to move away from the U.S. Dollar as it’s reserve currency when it purchased $50 billion in bonds issued by the International Monetary Fund. The Chinese government has agreed to purchase up to $50 billion worth of International Monetary Fund bonds, the first such notes in the fund’s history, the IMF said Wednesday. The global organization said the note purchase | Read More »
Tags: armenian genocide
, Barack Obama
, European Union
, International Monetary Fund
, John Kerry
, special drawing rights
, United States
Is Kay Bailey Hutchison the Republican Diane Feinstein?
Diane Feinstein is notorious for supporting greater funding for China and cooperation with Chicom military authorities because, in part, her husband makes millions of dollars dealing with China.It’s not just China. Feinstein has made out like a bandit from the Iraq War too. As chairperson and ranking member of the Military Construction Appropriations subcommittee (MILCON) from 2001 through the end of 2005, Feinstein supervised the | Read More »
Insult to Injury
We should really be insulted, if it turns out to be true. The Obama administration’s Labor Department released jobless data that was surprisingly not horrific. Caviar was served. Champagne flutes clinked. All was sweetness and light at the White House. The number of job losses was smaller than expected. CNBC looked into the data and doubted the numbers. It seemed inconceivable the number could be | Read More »
Why Do They Hate Us? Because They Can Do So and Live to Continue.
With Russia and China picking up the gauntlet for the United States, the terrorists are now in combat with nation states that spent several centuries each under the tyrannical heel of the Mongol Dynasties. Their views on military struggles are grimmer, more mordant and perhaps more realistic than any being espoused by Versailles upon the Potomac. Operations will be more “kinetic” and rules of engagement “less encumbering.”
Tamerlane rarely fielded too many complaints from those concerned about human rights. Once they got a good look at his mounds of human cadavers, they quickly hushed their whinging and offered up tribute. People that openly hated Tamerlane lasted maybe fifteen minutes.
The surviving remnants of Al Qaeda will take one look at how China handles business in Moldova and decide Afghanistan is truly the central front in their war against the 21st Century. They won’t be tactically stupid enough to espouse hatred of those who overwhelmingly respond to it.
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Do You Believe A Statement Made Or the Post-Statement Spin?
The Commerce Department is running away from Secretary of Commerce Gary Locke’s statement this past weekend in China. While there, the Wall Street Journal reports, Locke said the United States should pay for China’s carbon emissions. In his own words, Locke said: “It’s important that those who consume the products being made all around the world to the benefit of America — and it’s our | Read More »
China – Not a Nation, But an Empire
Back during the 1980s, there were many left-right intellectual divides regarding the Soviet Union. One of the forgotten ones was: How should we regard the “Soviet Union?” Mushy-leftist types were fond of the notion that the Soviet Union was a relatively normal, basic “nation” – but one that was deservedly paranoid because of the 1941 German invasion (a line of thought conveniently stoked on a | Read More »
Alcoa Can’t Wait (to Flee the US)
I’d call this a semi-“Cramer’s Remorse” entry because while I am basing this off a Jim Cramer article on RealMoney.com, it’s more an expression of a company’s opinion than Cramer’s. Specifically, the company in question is Alcoa, the giant aluminum company who is traditionally the first major company to report results for a given fiscal quarter. The second quarter of 2009 was a relatively good | Read More »
Comprehensive Cap & Trade Primer
When I think about cap & trade, I am reminded of an initiation prank that was played on new Soldiers in my unit during motor pool maintenance. A sergeant would tell a Soldier to get emissions samples from a vehicle and hand them a plastic shopping bag. The Soldier then went and put the bag on the exhaust pipe of a vehicle for a while | Read More »
Tags: "Cap and Trade"
, Carbon Credits
, Climate Change
, Global Warming
, Paul Krugman
, Trade War
, US economy
, World Bank
…..And Justice for All
Friday the House narrowly passed the Obama/Pelosi cap and trade bill, with a fight expected to go down when the bill reaches the Senate. Far more important than the war the bill wages on industrialization and wealth, the erosion of our economic power is what we should focus on. The United States economy remains the largest in the world despite a year (2008-2009) of overspending, | Read More »
The Agent Orange of our “green shoots” Economy
One of the central points in Senator Gregg’s op-ed about our debt is his warning about the Chinese government not buying our debt: If the Chinese start to reduce their purchases of our government securities because of our need to borrow increasing amounts of money to finance all the spending that the president has proposed, we will have to start offering higher interest payments to | Read More »
Tags: "Cap and Trade"
, Health Care Reform
, interest rates
, President Obama
, printing money
, The White House
, Treasury bills
, value of the U.S. dollar
Of Deficits, Health Care Reform, Interest Rates and the Value of the U.S. Dollar
These two paragraphs from the Weekly Standard reasonably sum up the connect the dots between health reform, deficits, interest rates and the value of the U.S. dollar: The president is about to engineer the takeover of the health care sector. Unless Congress refuses to go along with the establishment of a government insurer — voter enthusiasm for this “reform” is minimal — competition from an | Read More »
Health Care Reform as the Spending Canary in the Mineshaft
From the diaries, by Erick. As the health care industry collectively does a damage assessment of the Pelosi-Kennedy-Obama health care plans to their individual interests, one thing is clear: things have changed radically in the last week: hospitals will be facing cuts of billions from Medicare and Medicaid; big Pharma is facing a certain drug re-importation fight sooner than later, likely during the health care | Read More »
Today We Remember Tyranny and Defiance
People forget that the protests that June 4th were country wide, not just in Tiananmen Square. Today, China is trying its best to shut down the internet and news sources to keep the remembrances silent. China tries to wipe out the memory of the protests as it tries to wipe out the protestors themselves. We remember. We remember the tragedy. We remember that our nation | Read More »
The Value Of Human Life According To Modern Liberals
Despite all of the rhetoric of standing up for the people, the modern liberal movement continues to build a legacy that demonstrates a ruthless indifference to the plight of those who are not like-minded in their world outlook. In the mind of many extremists on the left, human life is only as valuable as the beliefs that person holds. Once upon a time, the founding | Read More »
Trading Places: Cap and Trade’s Likely Effect on the U.S. and China
From the diaries by Erick The subject of the environment is a difficult one for conservatives. The Left has owned the discussion for years, always pitching the issue in the direst terms, decade after decade. When we have tried to point out reasonable objections to this extremist rhetoric, such as that there is less than a scientific consensus about climate change, we have been called | Read More »