I took a break (for just a little bit) from obsessing over the catastrophe that is fraudclosuregate and was flipping around the television. I stumbled on a sobering program on CNBC called, “The China Question”. It’s one of those programs that is real long on facts, a bit dense and very troubling and very important to watch.
We all know that America’s jobs are gone and that many if not most of them have gone to China, but there is so much more. This is a sort of non partisian, just the facts kind of program, but it presents some very stark and very troubling data. As you may be aware, the United States Stock Market is doing very well, despite the fact that normal Americans are suffering. A good chunk of the profits that have led to the record Wall Street profits, comes from products sold in China….a few years back some portion of those products might have been manufactured here in the USA, but that has changed dramatically over the last several years. Now everything is made in China…especially the “American” products sold there. But that’s not the real disturbing part.
China has extracted huge concessions out of virtually every company that sells products in China…..in order to sell there, our companies were required to provide them with all of America’s intellectual property. Companies like Boeing, Ford, GM….anything that our scientists and engineers developed (and much of the technology that spurs our growth) was developed with the support of the American taxpayer…..and with all this technology being whored out to China….we’ve all lost the investment made in those developments. But that’s not the worst of it. The real problem is that now that all our technology has been given away, China is able to reverse engineer and they are making earth shattering advances in innovation…China is buckled in, they are bearing down and they are crushing us….and it’s only gonna get worse…..
Obama says, “We are not very good negotiators, we get taken to the cleaners by China.”
Click on the trailer below to see a disturbing lowlight…once again, great job by our leadership and another area where Wall Street and the corporate serpents have sold us all out.