You've probably never heard of the United States-China Economic and Security Review Commission, or USCC. Created in 2000, they research and review economic and security ties with China. Yes, someone, somewhere is trying to monitor the situation.
Today this commission held a hearing, " Research and Development, Technological Advances in Key Industries, and Changing Trade Flows with China".
Guess what folks! China doesn't want those low end jobs or even manufacturing as a long term economic strategy. Nope, they are going for high end research and development in key technical areas!
I'll let you click on the link for the stats, but the numbers are saying, "hey let's Disco, it's the 1970's!"
(without the good paying jobs or increasing wages of course!)
This is interesting. Naked Shorts are officially illegal as I understand it, but I guess because they are piling on the financials, Freddie/Fannie, must be a real problem. Not a good sign.
The stock market is tittering, the financial sector is imploding, real estate instead of a place to live for families, is now a gambling chip, the deficit is rising and the dollar is tanking.
So, how long can the United States be only seen as a consumer market and not as a nation to invest in her people and infrastructure?
On a mile high level, it seems the great generation, that of WWII , understood what happens with unfettered capitalism, no regulation and no power to workers and we have stood idly by while all that was built has been under attack for over 30 years. Now the United States stands not as an economic world leader, but more of a fat cow to slaughter. Hungry nations prey, salivate and take the prime cuts.
To continue the current immigration policy and save the Banking Institutions, the U.S. will need to create millions of jobs -- right away. Since there is a job deficit of some 13 million jobs this decade, perhaps we should re-think immigration policy.
The economic health of the nation is generally measured by the BLS Unemployment statistic. The Unemployment statistic is not historically comprable due to methodology changes. My interest is in immigration policy, I need an immigration related statistic that trumps the low unemployment statistic.
Now you may be asking, Budweiser? What's all this then? I thought you handled manufacturing stuff, you know gears, plastics and metal thingies? Yes we do, but here is something to keep in mind as to why food is also covered. When they (being the mainstream media) has a manufacturing story, sometimes they include that little nugget "yet America is still the largest manufacturer." Sounds crazy, I mean look around in stores, it seems like everything is made in China. Yet, this often-used tidbit is used because when this country calculates manufacturing, processed foods gets included. Yes..that's right, those chicken nuggets and mac 'n' cheese microwavable meals are considered "domestic manufacturing." And you know what else is also? Beer!
Fannie Plan a `Disaster' to Rogers; Goldman Says Sell
They are short, at least there is a disclosure.
The U.S. Treasury Department's plan to shore up Fannie Mae and Freddie Mac is an ``unmitigated disaster'' and the largest U.S. mortgage lenders are ``basically insolvent,'' according to investor Jim Rogers.
Taxpayers will be saddled with debt if Congress approves U.S. Treasury Secretary Henry Paulson's request for the authority to buy unlimited stakes in and lend to Fannie Mae and Freddie Mac, Rogers said in a Bloomberg Television interview. Rogers is betting that Fannie Mae shares will keep tumbling.
Treasury Secretary Henry Paulson said the Bush administration plans to ask Congress to enact legislation to temporarily increase the line of credit that the companies have with the Treasury. It would also allow the Treasury to buy stock in the companies.
Paulson also said the Federal Reserve should be given a greater role supervising the finances of Fannie and Freddie.
In addition, the Federal Reserve announced Sunday that the mortgage finance companies can turn to the Federal Reserve Bank of New York for funds. The move gives Fannie and Freddie the same access to the funds as commercial banks and Wall Street firms. The agency granted investment banks such access earlier this year in the wake of a similar crisis of confidence when investors lost faith in Bear Stearns
Last November I wrote a diary called The Panic of 2008? in which I predicted:
This is NOT the Great Depression II. Nor is this the stagflationary 1970s. It is going to unfold as some other Beast. Only the broad outlines of this Beast appear discernable now: it will likely feature (1) increasing import prices; (2) wage stagnation (that does not keep up with price inflation); (3) real asset deflation; and (4) possibly a Japan-style "liquidity trap."
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