The Writing is on The Great Wall
Could GM, Microsoft End Up in Chinese Hands?
"Executives at Unocal Corp. and Maytag Corp. are on the cutting edge of a trend that's sure to shake up corporate America as rarely before: China's desire for Western brand names.
Lenovo Group Ltd.'s agreement in December to buy the personal computer business of International Business Machines Corp. for $1.25 billion was the first sign China is becoming rapidly more internationally acquisitive.
Now, with CNOOC Ltd., China's third-largest oil company, going after Unocal and Haier Group, its largest appliance maker, bidding for Maytag, there's no mistaking China's strategy. And those here in Washington pushing China to let its currency rise should know they're making that pursuit easier for Asia's No. 2 economy"
I'm no economist, but I'm no quite so dumb as to miss red flags when I see them. The above article should be read in conjunction with the article, Who Owns the Dollar?
by Paul Craig Roberts.
The hardest blow on Americans will fall when China does revalue its currency. When China’s currency ceases to be undervalued, American shoppers in Wal-Mart, where 70 percent of the goods on the shelves are made in China, will think they are in Neiman Marcus. Price increases will cause a dramatic reduction in American real incomes. If this coincides with rising interest rates and a setback in the housing market, American consumers will experience the hardest times since the Great Depression.
Not only is the leadership in Washington feeding us a bunch of lies, they are totally incompetent, shortsighted, and insane.
UPDATE: Jack's Straight Speak has written Buy America - So China Does Just That With BushCo's Help
if you need any further convincing. He put all the little Bushies in a row for you.
posted by Cyndy