Tuesday, February 09, 2010
China owns the United States --or, at least, holds a 'mortgage'. China props up the dollar just enough to ensure that its excess production can be dumped here by way of its US retail outlet --Wal-Mart! The value of the US dollar is almost entirely dependent on China. When it ceases to be advantageous for China to prop up the dollar, the dollar will collapse.
The neoliberals have paid off its elite base with tax cuts which, impoverishing the poor, enriching the rich, exporting the US manufacturing base, exporting the jobs that it had supported
Barack Obama whom it is hoped will take the rap
to spread economic dogma like 'supply-side' or 'trickle down theory'.
Wealth might have 'trickled down' IF the wealthy had invested tax cuts domestically! But instead it gets squirrel away, offshore banks, havens, shady investments
If the government wishes to stimulate an economy by stimulating spending
put bucks in mason jars, bury them in a landfill and let 'labor' dig them up
Lower income citizens do not bear smaller tax loads as claimed.