
I knew it! Isn’t so hard to believe I guess. I woke up this morning and did my morning assessment aka “looking in the mirror” and saw a strange, thin black line near the crook of my elbow. I grabbed my magnifying glass for a closer look. Presto! Written in perfect sans-serif font are the words Made In China. Now there’s something you don’t see every… day. Uh. Yes you do.
USATODAY.com Editorial/Opinion
The U.S. economy, like Blanche DuBois in A Streetcar Named Desire, depends on the kindness of strangers. Each year Americans consume more than they produce, creating a trade deficit that floods the world with dollars. Fortunately, strangers from abroad like to reinvest those dollars in the USA.
The cycle works wonders. Despite the chronic overspending, American consumers have suffered few adverse consequences. In fact, all the money coming from abroad to buy Treasury bills and corporate bonds has held down the cost of borrowing.But last week, Americans got a sense of how foreign investment can also have a downside. The China National Offshore Oil Corp. (CNOOC), 70% owned by the Chinese government, offered to buy Unocal, a 115-year-old U.S. energy producer.
The $18.5 billion bid raises a number of thorny policy questions. Among them: Would ceding control of a major oil company to a communist government-controlled entity pose a national security threat? And if the bid were to be blocked, would China retaliate against U.S. companies seeking to expand in China? These questions would be considered by a special national security panel if Unocal accepted the CNOOC bid.
Those damn pesky Iraq insurgents/terrorists/facists/Islamo-facists/evil-do’ers can’t shake a stick at those running The People’s Republic of China Corporation. The China execs just say the hell with all that annoying blood, bombshells, and bullets with ol’ America. They’ll rather buy 115-year old U.S. energy stalwarts and make a grab for all our “consume it all or bust” philosophy. But I’m a big, bad ol’ alarmist! We’ll see pals and palettes. When China Corporation presses that magic button that will activate the chip embedded in our well-fed asses, I won’t be the only person outside singing with the magpies with a “what the fuck” look in my eyes.
“singing with the magpies”
Too funny!