If you worry about the future of our nation vis-a-vis the Obama spending orgy, you are right. On the other hand, help is coming. It might not be the kind of help that Obama, or for that matter anyone, is hoping for, but nonetheless it will put an abrupt end to the socialist spending spree planned by Obama and the democrats – and a few republicans.
You know, when I attended the tea parties, I noticed that some of the most ardent opponents of Obama’s socialist policies were, like me, immigrants – yes, of course, legal. The reason for that is because we know first hand that socialism won’t work and it leads to untold misery.
Obama was just handed a very expensive global finance scale teabag by the Chinese government. Let’s face it. Who knows better than the Chinese that socialist policies will lead to the destruction of a nation? The Czechs maybe? Yes, they know and the Czech PM Mirek Topolanek was very blunt in imparting that knowledge to Mr. Obama. Referring to the Obama economic machinations he stated, “[a]ll of these steps, these combinations and permanency is the way to hell.” The Russians? Sure they know also and they even told us as much, when, as Putin said, “[n]or should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors, and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.”
The message from China, while maybe not as eloquent as Putin’s, it sure cost more and probably stung Obama a lot harder. The Chinese have seemingly lost their appetite for Obama issued debt. As per the Treasury Department , “For the second consecutive month, investors in China, excluding Hong Kong, sharply curtailed their purchases of US Treasury bonds. Only 4.6 billion more were bought in February than in January, the weakest monthly increase since July 2008. ” I wonder if the Chinese know that Obama is very “happy to have a serious conversation about how we are going to cut our health care costs.” I am sure that as soon as Obama makes the Chinese aware of that and shakes his “halo” at them they’ll rush right in and buy more treasuries. Or maybe he’ll threaten the Chinese with “unleashing the full force of the White House press corps against them” like he threatened the Chrysler debt holders. I’m sure that will work!
What does this mean to Obama? For starters, I believe it’s the beginning of the end of the Obama administration. Unable to continue to dole out unlimited Chinese funds to his band of charlatans ahhh, I mean supporters, Obama will be caught between his supporters and a hard place. Sure he can accept the reality that he can no longer count on Chinese money to fund his criminally irresponsible programs but that will probably lose him a portion of the base. Can he afford to lose them, especially in view of the fact that his base is already squeamish due to the broken promise of “immediately pulling troops out of Iraq?” My guess is that he won’t go that route, but instead will switch to plan B, which means raising taxes higher than even he planned. That will lose Obama a really large portion of the so called “blue dog democrats”, independents and the White House.
That, Barry, is Free Market Lesson number one. You are welcome.
What does this mean to the rest of us? Simply, it means that if our politicians are too corrupt or too weak to do the right thing, the markets will help get us on the right path as it always does. There is a saying, I forgot from whom “the market will give you what you want,” but I have to add that there are no guarantees that you will get it the way you want it.
Congressman Mark Kirk, (R-Ill) a member of the House Appropriations Committee and co-chair of a group of lawmakers working on promoting relations with Beijing, said China had “very legitimate” concerns about its investments.
“It would appear, quietly and with deference and politeness, that China has canceled America’s credit card,” Kirk told the Committee of 100, a Chinese-American group. “I’m not sure too many people on Capitol Hill realize that this is now happening,” he added.