Obama’s Love Affair with Chairman Mao: Part Deux

Obama’s Love Affair with Chairman Mao: Part Deux

Stella Paul

 

Remember when Obama celebrated his very first White House Christmas by
hanging Chairman
Mao
on his tree?  After all, nothing says, “I’m a traditional American,”
better than a shiny ball emblazoned with the face of a mass murdering Communist,
sparkling like an angel’s wings on Christmas
morning.
Alas, Obama’s paltry poll numbers forced him into all sorts of tiresome
charades, like decorating his Christmas tree without any Communists this year,
and ostentatiously shlepping around a book on Ronald Reagan.
But true love is hard to hide; it keeps blazing through in all the little
things.  Like publicly bowing to Mao’s successor,
Hu Jintao, with the trusting submission of a lovesick puppy.   Hey, it’s just a
nuclear summit… it’s not like Obama needed to look strong or
anything!
And then there are this week’s adoring little signals: delighting in
pianist Lang Lang’s musical performance at the White House of a famous Chinese
ballad.  It turns out the song, “My Motherland,” is a glorious celebration of
the slaughter of American “jackals” (otherwise known as drafted American
soldiers in the Korean war).  The ChiCom tyrants loved it, and the whole world
got to laugh at us pathetic suckers. Obama
was in heaven!
Now think back to junior high school, when all your friends figured out
your latest crush, because you couldn’t stop talking about him.  Well, check out
Obama’s State of the Union!  There he was, once again sending gooey love signals
to China — “home to the world’s largest private solar research facility, and
the world’s fastest computer.”  And its limpid, lustrous eyes aren’t bad
either!
As Jim Hoft of Gateway Pundit notes,
“It was historic. Obama cheers Maoist song at White House State Dinner, Praises
Commie China in the State of the Union…All in One Week.”
America breathlessly awaits the day that Obama loves us with as much ardor
as he loves the communist Chinese.

 

Obama: Red China’s “Evolution” on Human Rights?

Obama: Red China’s “Evolution” on Human
Rights?

January 20th, 2011

Fred Lucas, CNSNews.com

President Barack Obama said on Wednesday that there has been “evolution” in
human rights in China over the last three decades, even though that country does
not allow for freedom of the press or freedom of religion, continues to imprison
political dissidents (notably Nobel Peace Prize winner Liu Xiaobo) and is run by
the Communist Party.
“And I want to suggest that there has been an evolution in China over the
last 30 years since the first normalization of relations between the United
States and China,” Obama said. “And my expectation is that 30 years from now we
will have seen further evolution and further change.”
During a joint White House news conference with Obama and Chinese President
President Hu Jintao, a reporter asked Obama, “Can you explain to the American
people how the United States can be so allied with a country that is known for
treating its people so poorly, for using censorship and force to repress its
people? Do you have any confidence that as a result of this visit that will
change?”
Obama said he and the Chinese president had discussed human rights at
length.
“China has a different political system than we do,” Obama said. “China is at
a different stage of development than we are. We come from very different
cultures with very different histories. But, as I’ve said before and I repeated
to President Hu, we have some core views as Americans about the universality of
certain rights–freedom of speech, freedom of religion, freedom of assembly–that
we think are very important and that transcend cultures.”
Read
more
.

Dispose of your fizzle material (the cartoon)

BOW TO CHINESE COMMUNIST

Barack Obama, Hu Jintao

AP Mon Apr 12, 6:49 PM ET

President Barack Obama greets Chinese President Hu Jintao during the official arrivals for the Nuclear Security Summit in Washington, Monday April 12, 2010. (AP Photo/Susan Walsh)

Poll: By 2-to-1 Margin, Americans Say U.S. Debt Owed to China Now Greater Threat than Terrorism

Poll: By 2-to-1 Margin, Americans Say U.S. Debt Owed to China Now Greater Threat than Terrorism
Sunday, March 07, 2010
By Christopher Neefus

(CNSNews.com) – By a two-to-one margin, American adults believe the amount of money the U.S. owes China to cover the U.S. national debt is now a greater threat than radical Islam.
 
According to a Zogby International poll, 58 percent said the debt was a greater concern, versus just 27 percent who chose terrorism perpetrated by “radical Islamists.”
 
The polling firm asked respondents: “When you think about the long-term security and well-being of the U.S., which of these do you believe is a more serious threat?”
 
Political ideology did not change the results significantly, the pollster pointed out.
 
“Interestingly, there was little variation by party identification with a majority of Democrats, Republicans and independents all agreeing that the debt owed by the United States to China poses the greater threat,” the Zogby report said. “Opinion was consistent across all other major demographic and politics sub-groups.”
 
Democrats barely strayed from the overall 58 percent-27 percent spread, with 57 percent of Democrats choosing the debt owed to China and 24 percent more concerned with Islamic terrorism. Likewise, independents broke 59 percent for the debt and 28 percent for terrorist attacks. The GOP followed suit, at 61-32.
 
Unsurprisingly, Republicans were more apt to choose one or the other as a serious threat, with just 2 percent (within the margin of error) choosing “Neither.” Conversely, 12 percent of Democrats said neither.
 
The GOP has made the skyrocketing debt a prime issue of late. After President Obama introduced his record $3.8 trillion budget for fiscal year 2011, which carried a record trillion-plus-dollar deficit, Senate Republican Leader Mitch McConnell (R-Ky.) said the new debt incurred was “astonishing.”
 
“This budget provides a startling figure that should stop us all in our tracks,” he said on the floor of the Senate.
 
“In fact, in just four years the administration predicts the government will have to spend more just to pay interest on the federal debt than it spends on the Departments of Agriculture, Commerce, Education, Energy, Health and Human Services, HUD (Housing and Urban Development), Interior, Justice, Labor, State, Treasury, and the Corps of Engineers, Environment Protection Agency, GSA (General Services Administration), NASA, National Science Foundation, Small Business Administration and the Social Security Administration — combined.”
 
After Democrats voted to increase the debt ceiling to more than $14 trillion to accommodate new spending, Rep. Paul Ryan (R-Wis.), the ranking Republican on the House Budget Committee said on the floor that the House had “bequeathed the next generation an inferior standard of living.”
 
“I didn’t come here to make sure that my three kids are going to have a life that’s worse off than ours.”
 
Democrats, on the other hand, often say that deficit spending is the best way to spur new economic growth, and that the red ink of okay for the short term.
 
Treasury Secretary Tim Geithner appeared before the Senate Finance Committee to defend the budget in the first week of February and told members there was a “very strong economic case” for elevated government spending.
 
“Our basic test should be what’s going to add jobs, what’s going to add spark to investment, what’s going to provide good leverage for the taxpayers’ money, and we need to make sure we’re doing that in a way that’s fiscally responsible over the medium term,” Geithner said. 

Is China Headed Toward Economic Collapse?

Is China Headed Toward Economic Collapse?

November 11th, 2009 Posted By Pat Dollard.

picture1

Politico:

The conventional wisdom in Washington and in most of the rest of the world is that the roaring Chinese economy is going to pull the global economy out of recession and back into growth. It’s China’s turn, the theory goes, as American consumers — who propelled the last global boom with their borrowing and spending ways — have begun to tighten their belts and increase savings rates.

The Chinese, with their unbridled capitalistic expansion propelled by a system they still refer to as “socialism with Chinese characteristics,” are still thriving, though, with annual gross domestic product growth of 8.9 percent in the third quarter and a domestic consumer market just starting to flex its enormous muscles.

That’s prompted some cheerleading from U.S. officials, who want to see those Chinese consumers begin to pick up the slack in the global economy — a theme President Barack Obama and his delegation are certain to bring up during next week’s visit to China.

“Purchases of U.S. consumers cannot be as dominant a driver of growth as they have been in the past,” Treasury Secretary Timothy Geithner said during a trip to Beijing this spring. “In China, … growth that is sustainable will require a very substantial shift from external to domestic demand, from an investment and export-intensive growth to growth led by consumption.”

That’s one vision of the future.

But there’s a growing group of market professionals who see a different picture altogether. These self-styled China bears take the less popular view: that the much-vaunted Chinese economic miracle is nothing but a paper dragon. In fact, they argue that the Chinese have dangerously overheated their economy, building malls, luxury stores and infrastructure for which there is almost no demand, and that the entire system is teetering toward collapse.

A Chinese collapse, of course, would have profound effects on the United States, limiting China’s ability to buy U.S. debt and provoking unknown political changes inside the Chinese regime.

The China bears could be dismissed as a bunch of cranks and grumps except for one member of the group: hedge fund investor Jim Chanos.

Chanos, a billionaire, is the founder of the investment firm Kynikos Associates and a famous short seller — an investor who scrutinizes companies looking for hidden flaws and then bets against those firms in the market.

His most famous call came in 2001, when Chanos was one of the first to figure out that the accounting numbers presented to the public by Enron were pure fiction. Chanos began contacting Wall Street investment houses that were touting Enron’s stock. “We were struck by how many of them conceded that there was no way to analyze Enron but that investing in Enron was, instead, a ‘trust me’ story,” Chanos told a congressional committee in 2002.

Now, Chanos says he has found another “trust me” story: China. And he is moving to short the entire nation’s economy. Washington policymakers would do well to understand his argument, because if he’s right, the consequences will be felt here.

Chanos and the other bears point to several key pieces of evidence that China is heading for a crash.

First, they point to the enormous Chinese economic stimulus effort — with the government spending $900 billion to prop up a $4.3 trillion economy. “Yet China’s economy, for all the stimulus it has received in 11 months, is underperforming,” Gordon Chang, author of “The Coming Collapse of China,” wrote in Forbes at the end of October. “More important, it is unlikely that [third-quarter] expansion was anywhere near the claimed 8.9 percent.”

Chang argues that inconsistencies in Chinese official statistics — like the surging numbers for car sales but flat statistics for gasoline consumption — indicate that the Chinese are simply cooking their books. He speculates that Chinese state-run companies are buying fleets of cars and simply storing them in giant parking lots in order to generate apparent growth.

Another data point cited by the bears: overcapacity. For example, the Chinese already consume more cement than the rest of the world combined, at 1.4 billion tons per year. But they have dramatically ramped up their ability to produce even more in recent years, leading to an estimated spare capacity of about 340 million tons, which, according to a report prepared earlier this year by Pivot Capital Management, is more than the consumption in the U.S., India and Japan combined.

This, Chanos and others argue, is happening in sector after sector in the Chinese economy. And that means the Chinese are in danger of producing huge quantities of goods and products that they will be unable to sell.

The Pivot Capital report was extremely popular in Chanos’s office and concluded, “We believe the coming slowdown in China has the potential to be a similar watershed event for world markets as the reversal of the U.S. subprime and housing boom.”

And the bears also keep a close eye on anecdotal reports from the ground level in China, like a recent posting on a blog called The Peking Duck about shopping at Beijing’s “stunningly dysfunctional, catastrophic mall, called The Place.”

“I was shocked at what I saw,” the blogger wrote. “Fifty percent of the eateries in the basement were boarded up. The cheap food court, too, was gone, covered up with ugly blue boarding, making the basement especially grim and dreary. … There is simply too much stuff, too many stores and no buyers.”

Hussein Says Beijing’s Infrastructure “Vastly Superior To Us”, Translated From Ebonics, That’s “To Ours” – With Video

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