The U.S. government is sending heavily armed destroyers to the South China Sea after a standoff between five Chinese boats and a U.S. spy ship operating in the area. Before the destroyers have even arrived, however, the Chinese communist government has sent a shot across their bow, in the form of a not-so-subtle reminder that China is now one of the U.S. government’s principal creditors.
As Chinese Premier Wen Jiabao put it, they’re “a little bit worried” about the safety of China’s investments in U.S. securities. “We lent such huge funds to the United States, and of course we’re concerned about the security of our assets.”
Translation: Don’t jack with us if you know what’s good for you because all we have to do is dump all these securities we’re holding onto the market, which will make your current financial crisis look like child’s play.
To finance its military adventures in Afghanistan and Iraq, the last thing the Bush administration wanted to do was to raise taxes on the American people. Higher taxes tend to get taxpayers upset. So, what Bush and his people instead did is what the Obama administration is doing today: simply borrow the money. The idea was that since the debt could be passed to people’s children and grandchildren, people didn’t need to be too concerned about it.
Given that Americans lacked the savings to loan all the necessary money, Bush and his people needed other lenders, which is where the Chinese communists, who have plenty of money to lend, came into the picture. China obviously recognized the financial value of investing in U.S. Treasuries while, at the same time, becoming one of the U.S. government’s principal creditors.
Reflecting the critical role that the Chinese communists now play in America’s financial future, Secretary of State Hillary Clinton recently visited China where she played nice with the communists, remaining silent on China’s brutal treatment of protestors and dissidents and politely requesting them to please continue lending money to the U.S. government.
Forty years ago, U.S. officials sent almost 60,000 men to their deaths in a senseless war in Southeast Asia. The deaths were necessary, they told us, to protect the nation from the communists, including the Chinese communists, who were assisting the North Vietnamese. Who would have ever dreamed that forty years later U.S. officials would have placed the financial well-being of our nation in the hands of the Chinese communists? Along with the wars of aggression, foreign occupations, torture and sex abuse, and dictatorial powers over the American people, it’s just another example of the road to economic ruin and moral debauchery that the pro-empire, pro-intervention crowd has plunged our nation.