But it gets worse! More from the
EPI: “The U.S. also had a $44 billion trade deficit in “advanced
technology products” (ATP) in 2005, an increase of 20% since 2004. The United States has had a deficit in ATP products
since 2002, and the balance in this sector has fallen steadily since 1997, when the United States had a surplus of $33 billion
in these sectors. Imports of high-tech goods from China were responsible for
the entire U.S. deficit in ATPs.”
You know things are desperate when the New York Times gives print to protectionism. “In the Senate, Charles Schumer, Democrat
of New York, and Lindsey Graham, Republican of South Carolina, have proposed imposing a 27.5 percent tariff on Chinese goods
until Beijing allows its currency to float more freely against the dollar.” Though
the lack of confidence in the dollar has an affect, the fundamental reason that the greenback is doomed is the ‘triplet
1. Debt created central banking used to control the velocity of
exchange while ignoring the quality of the medium.
2. Free Trade treaties that fraudulently promise prosperity, while
stripping the economy of the domestic capacity to make, produce or employ citizens to meet the domestic needs of the country.
3. The axis of corruption willing to sell out our true national
interest for access to international power and global influence.
Tariffs are the solution to cripple China’s insatiable voracity to super
power dominance. America’s blindness to the very real Chinese ascendancy
goes well beyond economic credits from U.S. debits. The trade deficit is real
money gone forever and will need to be earned back if it ever returns.
The summary and warning offered by the EPI is so obvious that only a deliberate
liar could deny the empirical reality. “The U.S. trade deficit poses
great risks for the economy. The U.S. must borrow abroad to finance its trade
deficits. The recent decline in the dollar indicates that private foreign lenders are less willing to supply new credit. Foreign governments stepped into the gap and financed a growing share of U.S. international
debt in recent years. A rapid, uncontrolled decline in the dollar could destabilize
U.S. financial markets and sharply increase interest rates and inflation. Foreign
governments, primarily in Asia, have provided a substantial share of the net capital inflows in recent years.”
The United States used to be a pragmatic country with common sense citizens.
Today, America is occupied by a “Ship of Fools”. Investors
are so confused that they peddle worthless pieces of paper as they sail around the globe looking for a rainbow that was always
back in their own land. Putting your fellow neighbor out of work for the promise
of foreign returns on capital is suicidal. Fantasy utopian trade
leads to a very real version of dystopia deprivation, oppression and state terror.
Depriving China of the technical means and the financial muscle to bury our society
seems the sensible national interest. Is this a country of individuals or has
it become a stable of beasts of burden. Paying for a ridiculous trade deficit
to build up China is part of the plan to bankrupt this country. Free Trade backers
are “Fifth Column” subversives. Turn off the spigot, end the
debt and stop the bleeding. China may be a fake friend to corporate boards, but
is a foe to our own best interests.
U.S. trade representative, Rob Portman issued a report that would establish a chief counsel for China trade enforcement to lead a task force to ensure better compliance
by China with rules of the World Trade Organization. If this is the best that
can be done by our government to reign in this predatory tiger, then we better form a better domestic government. The WTO has proven its destructive policies. Long ago was
the time for rational protection, now is the juncture for national survival. Correct
our priorities and put an end to trade deficits. That’s how you restore
prosperity and put America back to work at living wage employment. The future
is now, before your country goes broke . . .
SARTRE - February 20, 2006