Communism Rescues Capitalism!?

27 09 2008

I was flying back to Washington, DC this week as the US governement worked overtime on a financial-Prozac remedy to stop the another U.S. Depression. In between the power-down and cells-on phase of flying I don’t have a lot to do but read and think. Probably the most innovative part of the flight for me. This time an insane ides hit me: Communism is now highly interested in bailing out the Capitalists. Wha??? They don’t want to bury us?

That’s right. Rumors abound that China is looking at investing billions into US entities to help. Albeit the help is selfish – if we suffer, they suffer. Yu Yongding, former advisor to China’s central bank, said that if the Fannie and Freddie fail the consequences will be catastrophic . . .  the end of the current international financial system. This isn’t new news:

  1. Foreign central banks have been propping up the U.S. economy for years; financing the US to keep their exports heavily dependent on U.S. consumer spending. And now? Can you spell “vendor financing”?
  2. At the end of 2007, Chinese banks held $376 billion in US financial markets.
  3. www.thenation.com :”dangers are compounded by the fact that the United States is now utterly dependent on foreign creditors–Japan and China lead the list–holdings of US long-term debt securities have more than doubled since 1994, from 7.9 percent to 18.8 percent as of June 2007. If these countries get fed up with their losses and pull the plug, the US economy will be a long, long time coming back.”

So the communists are trying to help rescue the capitalists. Are Stalin and Mao laughing? Of course you could argue that China made its money on capitalist practices, but once again business commerce tranforms the world. The only difference now is that it doesn’t take centuries anymore. WWII veterans are still alive today.

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One response

24 11 2010
BettyLaVerne

It is the World according to garp- upside down, and the Chinese Communists are loaning us money , too!
But, if i remember my history, Kruschev was mistranslated, and actually said he was going to “overtake” us. The word he used could have been interpreted as “bury” , and the press went to town with it. but, we won the Cold War anyway, since they overspent their resources on defense and the administration of all their satellite countries.
Wait a minute, aren’t we overspending on defense?

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