Monday, September 14, 2009

China VS USA - can only end in one way...

I have been looking for more protectionist measures being taken, that’s the normal way for our elitists to react to major economic problems, and so even if protectionism have been increasing during this crisis, the actions taken haven’t yet reached those levels I expected. However, one can always count on the Obamination to make a bad situation worse.

European and Asian markets fell on Monday, shaken by news of a trade dispute between the US and China over tariffs on tyres. The US decision to impose trade penalties on Chinese tyres infuriated Beijing, which condemned the move as protectionist and said it violated global trade rules. I think this is fantastic fun. It’s idiotic, stupid and very dangerous, but hilarious none the less.
And China, feeling that they had to retaliate with their own stupidity announced some mumbo jumbo about US auto, and chicken imports. We already know that the French idiots are just looking for an excuse to “protect” their industries, and since there are a lot of mad people ruling all over, this China US thing might very well be the start of the next downhill spiral.

As I have written before, the similarities between this depression and the “great one” 80 years ago, are staggering, so more protectionism was expected and it will continue to grow, but will not be really bad until next year when the reality is starting to sink in and our politicians feel the urge to do something loony again.

Let’s recap for a moment shall we. China is the main lender to the US, and China is the main purchaser of US treasury bonds hence very important to the US economy and without China its very unlikely that the American administration could have launch such a massive deficit to “stimulate” the economy. Most of the Chinese stake in the US is in the currency, the USD. Currently China has started to diverse itself from dollars, buying other currencies and gold instead. So far this move has been kind of slow to not upset the world markets or the value of the dollar, however, now appears this “thank you” from the US government...

But the Obamination isn’t really happy only pissing of a billion plus Chinese, he also continues his campaign against the financial market. Blaming greed and calling for more restrictions. That his entire staff consists of people direct from Wall Street whom are profiting from the crisis is, however, a silence factor not to speak of. That too much government and too many regulations created the crisis isn’t either mentioned. And while the small dealer Madoff goes to jail, the biggest crocks roam free.

Barack Obama is already the worst president in US history. From one madman to an even worse one.

Yes, our future looks very interesting indeed…

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