Pres. Obama told Democratic Party senators that he would put "constant pressure" on China and other countries to stick to their side of trade agreements. But he said he did not intend to take a protectionist stance towards China, warning that "to close ourselves off from that market would be a mistake".
http://news.bbc.co.uk/...
notice that Pres. Obama only did this after....
$6B arms sale to Taiwan
Flexing military muscle in Mideast with Iran
In Afghanistan to make sure oil pipelines are built ( and CIA gets their poppy supply )
US launches largest Asian war games in Thailand
Net Net: when the US economy is looking grim call in the MIC to keep 'extend and pretend' ruse going. That's why we pump them with $700B/yr. right ?
OK sounds kinda good so far....however more on the flip
Obama Vows to Address Yuan Exchange Rate Issue
http://www.calculatedriskblog.com/...
Hmmm read this though and it's a bit tougher i.e. Getting the Chinese to revalue (or float) their currency is probably critical to the U.S. achieving Obama's ambitious SOTU goal of doubling U.S. exports in the next five years.
But what's really happening behind the scenes
Never short a country with $2 trillion in reserves?
http://mpettis.com/...
China owns $2 Trillion
But the US owns a US $ printing press
64% of world's reserve currency gives USA more rope but not unlimited rope
interest on federal debt becoming huge
interest and taxes rates are going up
The gamesmanship ( and smack talk ) is killing me ;)
However what I really think is happening is that the Vampire Squid from Hell is telling Obama get your ass out there and get the US economy going with consumer spending, asset bubbles, and ponzi schemes or Financial capitalism ( which doesn't generate any real value for the rest of the economy ) is dead!
I'm telling ya this is a must see...
David Walker on U.S. Fiscal Health http://bit.ly/...
update 1
Carlin was absolutely right. They gave it all to Wall street, just like he said would happen.
http://www.youtube.com/...
The game is rigged and nobody seems to notice. Nobody seems to care. Good honest hard-working people . . . white collar, blue collar it doesn’t matter what color shirt you have on. Good honest hard-working people continue, these are people of modest means . . . continue to elect these rich ***** who don’t give a ***** about you. They don’t give a ***** about you . . . they don’t give a ***** about you. They don’t care about you at all . . . at all . . . at all, and nobody seems to notice. Nobody seems to care. That’s what the owners count on. The fact that Americans will probably remain willfully ignorant of the big red, white and blue dick that’s being jammed up their ass everyday, because the owners of this country know the truth. It’s called the American Dream, 'cause you have to be asleep to believe it . . ."