Tag Archives: China

Chen Guangcheng and His Family Are On a Flight from China to the US

Wikipedia Image

Wikipedia Image

BEIJING, May 19, 2012 /Christian Newswire/ — ChinaAid has learned that blind activist Chen Guangcheng and his family have left China today and are en route to the United States.

Bob Fu talked with Chen just hours ago. Chen said Chinese official informed him that he would leave today, though he had not yet received his passport.  Chen was not told which city in the US he was going to but it is now confirmed he is headed to Newark, N.J.

ChinaAid and the Chen family deeply appreciate the international community’s tireless efforts to gain his freedom, including the Church’s passionate prayers, both the efforts of the US Embassy and the US Congress, who held two timely hearings on his behalf.

Chen also wanted to express his gratitude to the Chinese government who fulfilled one of its promises to allow his family to leave.

ChinaAid continues to urge vigilance and increased international attention to the situation faced by Chen Guangcheng’s extended family members, including his nephew Chen Kegui and his elder brother Chen Guangfu as well as his sister-in-law Ren Zongju. They are all facing possible severe punishment as a result of Chen’s escape from his house last month.

“We are happy for Chen and his family. This is a great day for freedom fighters,” said Pastor Bob Fu who has been campaigning for Chen’s freedom internationally, ” this further proves that constructive dialogues with international pressure can surely produce concrete positive result. We pray for his family’s safe journey.”

Blind Activist Chen Guangcheng’s Family Told to Pack Up for the USA Today

200px-Chen_Guangcheng_at_US_Embassy_May_1,_2012

Wikipedia Image

BEIJING, May 19, 2012 /Christian Newswire/ — ChinaAid just learned that the blind activist Chen Guangcheng’s family is heading to Beijing airport now and they were informed to pack up and get ready to leave China for the USA today.

Bob Fu made a phone call with Chen a moment ago. Chen said the Chinese official informed them to pack up and leave for the USA today though they have not received passports yet. Nor is their itinerary known. Chen also said he is looking forward to coming to the USA.

ChinaAid and the Chen family deeply appreciate the international community’s tireless efforts for Chen and his immediate family’s freedom including Christians’ passionate prayers, two timely congressional hearings held by Congressman Chris Smith and the US government’s assistance. We thank the Chinese central government for fulfilling one of her commitments by facilitating Chen’s trip to the US. We urge the international community to continue to monitor the situation regarding Chen Guangcheng’s extended family members including his nephew Chen Kegui and his elder brother Chen Guangfu as well as his sister-in-law Ren Zongju. They are all facing possible severe punishment as a result of Chen’s escape from his house last month.

US and China sign Agriculture Strategic Plan

The Secretary of Agriculture, Tom Vilsack signed a historic “Plan of Strategic Cooperation” with China’s Minister of Agriculture, Han Changfu at the US-China Agricultural Symposium. Bilateral cooperation in Food safety, food security and sustainable agriculture were the focus of this month’s agricultural symposium.

US-China Agricultural Symposium 2012

US-China Agricultural Symposium 2012

“This symposium and plan are a product of a vision I share with my dear old friend Minister Han for the United States and China to work more collaboratively in the future to benefit our nations and agriculture around the world,” Vilsack said.

The Plan of Strategic Cooperation between US And China will help build and guide the two countries’ agricultural relationship for the next 5 years.

As previously mentioned in the article “USDA hosting first ever US-China Agricultural Symposium”, with good relations in place, this will open the door to more agricultural exports to China, including US beef exports.

This news coupled with the USDA creating Start2Farm.gov to help beginner farmers start or grow their farms. There is a great deal of interest in the US agricultural arena, which could lead to greater agricultural growth and prosperity.

America’s position as “Breadbasket of the World” is already being eroded by countries like Canada, Soviet Union and China. Can this historic plan secure our position as the world’s breadbasket? With hopes and anticipation high, we will have to wait and see, as only time will tell.

For more information on the USDA’s Start2Farm.gov project, take a look at the article here at CDN.

USDA hosting first ever US-China Agricultural Symposium

The first ever US-China Agricultural Symposium took place today. The Symposium where government and industry leaders from the US and China will meet to tackle export issues, to allow US Beef to be exported into the Asia Pacific region.

Minister Han Chanfu meeting with US Secretary of Agriculture Tom Vilsack.

Minister Han Chanfu meeting with US Secretary of Agriculture Tom Vilsack.

China became the number one market for US agricultural goods in 2011. China purchasing over $20 billion in US agricultural exports. This represents to the US over 160,000 American jobs in agricultural jobs and other sectors. American agriculture represents 1 in 12 jobs in the US and provides American consumers with 86% of the food we consume.

The USDA reports that strong agricultural exports contribute to a positive US trade balance, create jobs and boost economic growth. And reports that US agriculture is currently experiencing one of its best periods in history thanks to the productivity, resiliency, and resourcefulness of our producers.

Another goal of today’s meetings is to continue to strengthen bilateral trade relations and support the American brand of agriculture.

US Agriculture Secretary, Tom Vilsack has worked with China to aggressively expand export opportunities and reduce barriers to trade, helping to push agricultural exports to record levels in 2011.

Vilsack was quoted, saying “Thanks to the productivity of American farmers, ranchers and producers, consumers in China recognize the United States as a reliable supplier of high-quality food and agricultural products. Strengthening our partnership with China’s growing market is integral to the strength of the U.S. economy in the decades ahead.”

These look like strong times for US agricultural, if talks go well we can see huge gains in exports and more jobs generated.

Ron Paul: Sage Grandfather or Crazy Uncle?

I find myself intrigued with Ron Paul on a regular basis. The man can get up and say some of the most patriotic and sensible things in one sentence and then in the next sentence sound like he just came out of an insane asylum. Paul has great ideas when it comes to fiscal responsibility, spending, freedom, and the Federal Reserve. On the other side of the coin, though, his ideas on foreign policy leave me wondering where he left his brain, or if he has one that is properly balanced. When he speaks of fiscal issues he sounds like Ronald Reagan. When he speaks of foreign policy he sounds like Hugo Chavez and even to the left of Barack Obama.

When I hear him speak of auditing or eliminating the FED I stand up and cheer. The Federal Reserve is a non-governmental entity that is destroying our economy by printing money that has essentially no value, thereby lowering the value of the dollar and guaranteeing severe inflation in the very near future. The FED also has virtually no oversight from anyone in Congress. Paul is also correct in his assessment of federal government spending. We cannot keep spending money borrowed from China for building IHOP restaurants, studying ants in New Zealand, teaching African men how to wash their genitals after sex, and certainly can’t keep borrowing to prop up European countries.

I also agree with much of his stand on Iraq and Afghanistan, not to mention Libya, Sudan, Yemen, and the other third world hell holes Obama is involving us in. Fighting a war against Islamic terrorists is one thing but this “nation building” farce is only a boon for the military industrial complex and is not helping any aspect of our national security interests. We are wasting money and lives in a venture that will fail because it isn’t about winning a war; it is about being politically correct and propping up a puppet government. As we are leaving Iraq we see the sectarian slaughter returning.

Sunni and Shiite Muslims have been butchering each other for centuries and we are not going to stop it. Until these stone-age animals decide to live like human beings nothing we do is going to change anything. All we do is put our soldiers in the line of fire with a no-win policy that puts their lives in danger with rules of engagement that are insane.

While closing military bases all across the United States we build and expand bases throughout the world. While we are “helping Afghan police and military close their borders to invaders” we leave our own borders wide open to drug cartels and the very Islamic terrorists we are fighting in far off lands.

Ron Paul makes quite a stir when he talks about “legalizing drugs”. I don’t remember everything he has said about drugs but I do know he has some valid points here also. The “war on drugs” has been going on for 50 years and has cost taxpayers billions in wasted money. Not only have we not solved the problem of illegal drugs; this “war” has made it worse. Most of Paul’s position has more to do with leaving this issue to the states, not legalizing drugs wholesale as the story is reported. Ron Paul is a strong states’ rights advocate, as am I. It only took the politicians 14 years to see the problems caused by Prohibition and repeal the 18th Amendment. The war on drugs has been going on for 50 years with the same results we saw during Prohibition. I don’t condone legalizing all drugs but I see a colossal failure that could be handled better at the state level.

Paul has the same ideas on abortion; let the states decide how they want to handle this issue. I agree with him on this matter. If it isn’t in the Constitution the federal government has no business sticking their nose into it. Every time a person or group doesn’t get their way at the state level they run to the federal government to override the states, the place where these issues should be decided. I see abortion as murder, and see murder as a state issue not a federal one.

I hear all of the things Paul writes and says about these issues and I jump up and cheer him on. Then he begins to talk about foreign policy and I scream out in pain. Paul is just as bad as Barack Obama when it comes to blaming America for every ill in the world. I have a cousin who worked in the building demolition business years ago and I had several opportunities to see the activities involved in blowing a building up, or rather imploding them. When I hear Ron Paul talk about 9/11 being an inside job I want to choke his scrawny little neck.

The idea that the World Trade Center was taken down by internally placed explosives is ludicrous to anyone who has even a scant knowledge of building implosions. The amount of work necessary to drill into pillars, place the explosives, wire them together, and tie everything to a detonator cannot be accomplished in a building with thousands of people walking in and out all day every day. A building that size isn’t brought down on itself with a satchel charge tossed into an elevator. The idea that the Bush Administration was involved in setting up the hijackings is equally ludicrous and statements by Ron Paul and his supporters on this issue shows they are well outside the realm of sane or intelligent thought.

While Ron Paul has some very good ideas about what is needed to restore The Republic of the United States of America, he has more than enough crazy ideas to make him a danger to every person in this country. I would love to see Ron Paul be the next Treasury Secretary or Chairman of the Federal Reserve but to put this man in the White House would endanger our nation almost as much as re-electing Barack Obama.

We need a very strong leader with strong conservative values. We need someone who will articulate the conservative message and have the courage of his/her convictions. Now is not the time for waffling or being concerned about “diversity” or “inclusiveness”. The only answer to our nation’s problems is a conservative approach that relies on the Constitution that our founding fathers fought the Revolutionary War to make possible. Anything less will result in the demise of a once great nation and the rise of another Third World banana republic with a dictator such as Adolph Hitler or Hugo Chavez. Ron Paul is not the man for the job.

I submit this in the name of the most Holy Trinity, in faith, with the responsibility given to me by Almighty God to honor His work and not let it die from neglect.

Bob Russell
Claremore, Oklahoma
January 23, 2012

Iran Actually Hacked America's RQ-170 Spy Drone

This is looking bad, folks.  Reports initially said that Iran had shot down one of  America’s RQ-170 spy drones (the type of drone that was used to provide real-time data during the Osama Bin Laden raid).  And to be honest with you, that’s what we wish would have happened.  Instead, it looks like Iran actually hacked the drone and commanded it to land on one of their air strips.  Here’s video of the drone (that is clearly NOT shot down and damaged).

Below is an excerpt from BBC.co.uk

US officials have acknowledged the loss of the unmanned plane, saying it had malfunctioned.

However, Iranian officials say its forces electronically hijacked the drone and steered it to the ground.

BBC security correspondent Frank Gardner says the intact condition of the Sentinel tends to support their claim.

Iran’s Press TV said that the Iranian army’s “electronic warfare unit” brought down the drone on 4 December as it was flying over the city of Kashmar, about 140 miles (225km) from the Afghan border.

So, this is bad no matter how you slice it.  One has to wonder, however, did Iran gain the capability to bring down one of the most sophisticated pieces of technology in the world.  You would almost think they had help…..

Fed's Bernanke Props Up EU With Loan-sharking Scheme

U.S. Federal Reserve Chairman Ben Bernanke has reached out to Europe in what is being mischaracterized across America as just another European bailout. Bernanke realizes the U.S. Congress would never allow the Federal Reserve to put the U.S. Economy at further risk by directly bailing out the European Socialists, in which we are already exposed to the tune of owning 20% of the IMF debt-fund, which is basically bankrupt. The EU announced that they would be increasing the cash flow to prevent several countries from going insolvent a short while back, in hinting that China and Japan would agree to buy up more European debt. The only problem there,  is that China refused to buy into that scheme without seeing solid austerity measures put into place, which the EU refused, or was incapable of doing.  Simply put,  Europe was a very bad credit risk, and China turned them down which was very embarrassing to the EU grand banking manipulators, who had already announced more cash was on the way.  

Understanding Bernanke’s Loan-Sharking Scheme

Bernanke then decided to play the role of loan-shark king, in lowering interest rates for dollar swap lines to the ECB (European Central Bank) along with cooperation from four other major central banks (Canada, England, Japan, and Switzerland). Bernanke is attaching the European debt crisis exposure to the banking systems of the other 4 country’s mentioned above in a move to cloud the fact that he is lending more money ( and collecting lower interest rates) to the European Socialists Union, which should actually have been declared bankrupt over a year ago. Does anyone believe for one minute that Canada, Japan, Switzerland, and England are going to put their economies at risk by buying into the debt-disaster of the EU, the IMF, the ECB and the EFSF? Of course not. The EFSF, or the European Financial Stability Fund ( boy is that an oxymoron if ever there was one) has yet to explain just what their role will play in all of this.

Yet globalists paint this scheme in a rosy hue by declaring that the European Central Bank, which has been reluctant to intervene to stop the growing crisis on its own continent, was joined in the decision by the Federal Reserve, the Bank of England and the central banks of Canada, Japan and Switzerland. Central banks will make it cheaper for commercial banks in their countries to borrow dollars, the dominant currency of trade. Just what effects will this have on the value of the U.S. dollar, long-term? But while it should ease borrowing for banks, it does little to solve the underlying problem of mountains of government debt in Europe, leaving markets still waiting for a permanent fix. What is that term Obama and Congress love to toss at the American public so often today? That’s right, they use the “We can’t continue to kick the can down the road” analogy constantly, yet this is exactly what the EU and Bernanke are condoning with this latest move.  Where do Germany and France stand on all of this?

The stock markets rallied upon Bernanke’s announcement of the Fed lowering its dollar-swap interest rate, and China’s easing of it’s monetary policy for the first time in several years by reducing bank reserve requirements by 50 basis points. This may be the first of several Chinese easing moves, and it certainly added to the stock surge. Again, take note that China is not willing to buy into the EU debt-disaster, but instead slightly lowers their bank reserve mandates. Also missing from this equation are the two biggest economic elephants in the middle of the EU, France and Germany. Simply put, after Deutshe Bank of Germany received massive bailout funds from the IMF, EFSF, and the ECB schemes that prevented them from suffering massive losses due to the previous buying of EU debt , and they now refuse to take the risks to provide any funding to bailout Greece, Italy or anyone else in the EU, including the newly exposed and problematic French debt-crisis.

The bottom line here is that this is all just another batch of phony solutions to a rapidly-expanding European debt-crisis that was created by the Euro-Zone Globalists, and which is heavily rooted in anti-capitalistic, utopian Socialism and the ever-present denial of the realities of their irresponsible actions.  Nothing has been solved here, much to the dismay of Ben Bernanke, who actually believes that this latest loan-sharking scheme will fool Congress into somehow thinking that Bernanke waved his magic wand and thus prevented the European insolvency that China now sees as inevitable. ( as is proven in their refusal to further buy into the European Socialists massive debt problem nightmare)  Are we to believe that the ECB can just write a trillion dollar check to further prop up the EU’s fast-growing number of bankrupt countries? On top of that, how can the IMF expect to be allowed to borrow another $800 billion from the ECB to give those same bankrupt countries even more money? The bottom line is that they can’t, simply because the money just isn’t there, especially with Germany and France now refusing to participate in any further bailouts without the creation of a New EU treaty. Merkel and Sarkozy have made Europe into a Communist collective that was built on the Socialistic catch-phrase of  denying protectionism, or the rights of European countries to control their own economies through implementing sound fiscal policies. Now they want out of the communist collectivism that they have created to protect their own countries from falling off of the debt-cliff that Italy, Greece, Spain, and other EU infected countries are now on the edge of.  For the proof of Merkel and Sarkozy’s stealth demand for German and French “protectionism” from the European debt-crisis they helped to create,  check out this article neatly titled,  EU Planning a New Treaty. Oh what a tangled web we weave, when first, we practice to deceive.  Sir Walter Scott, 1771 – 1832.

 

 

 

The Next Generation Identifies China as a Threat

WASHINGTON, Nov. 21, 2011 — Generation Opportunity, one of the largest and fastest growing grassroots voter education organizations, released results from its national poll exploring how America’s young adults view the world, the American economy, and their personal futures. The Generation Opportunity poll focuses specifically on young Americans ages 18-29, popularly referred to as the “Millennial” generation. The data is particularly relevant in light of President Barack Obama’s recent Asia-Pacific trip, and it reveals the opinions of young Americans on issues such as U.S. debt and indebtedness to China, a variety of economic challenges, and domestic concerns.

The Generation Opportunity poll found that seventy-six percent of young American adults view China as either an economic or military threat. Sixty-two percent believe the top American national security issue is the U.S. debt followed by energy dependency and indebtedness to foreign powers.

“America’s future leaders are well aware of the world around them and the competition the United States faces both now and in the future. They know America’s ability to lead and our national security have been put at risk by reckless deficit spending and increased indebtedness to foreign powers such as China. Young Americans are prepared to change the status quo because they refuse to settle for a future defined by an ongoing lack of jobs, a poor economy, and the possibility that the U.S. will no longer be a leader on the world stage,” said Paul T. Conway, president of Generation Opportunity and the former Chief of Staff of the U.S. Department of Labor under Secretary Elaine L. Chao. Conway has also served as an official at the U.S. Department of Homeland Security and is an alumnus of the Senior Executives in National and International Security program at Harvard University’s John F. Kennedy School of Government.

To reduce these vulnerabilities and manage America’s national security challenges, young Americans believe elected officials in Washington, D.C. need to get the country on more stable economic footing by cutting federal spending rather than raising taxes. They also believe the U.S. needs to increase the production of domestic energy sources such as oil, natural gas, and coal.

Generation Opportunity commissioned a poll with the polling company, inc./WomanTrend (April 16 – 22, 2011, +/- 4 percent margin of error) and highlights some of the results below.

America’s Young Adults: The China Threat, American Exceptionalism, and U.S. Economic Priorities:

  • 76 percent of Young Americans view China as a danger: 48 percent as an economic threat and 28 percent as both an economic and military threat.
  • Top 3 greatest threats to American National Security: National Debt (62 percent), Energy Dependency (61 percent) and Indebtedness to Foreign Powers (50 percent). The threat of terrorism at (39 percent) followed as the fourth major national security concern.
  • 56 percent — more than half — indicated their agreement with “American Exceptionalism” — described as an ideal of freedom and democracy exclusive and unique to the United States, only 29 percent disagreed.
  • Only 31 percent approve of President Obama’s handling of American youth unemployment.
  • When asked on a scale of 1 (meaning not at all) to 5 (meaning a very big concern) how much of a concern America’s current” financial debt”/”deficit” rates, 66 percent of young Americans indicated very big concerns with America’s “financial debt” and 71 percent indicated very big concerns about America’s “deficit.”
  • 54 percent — more than one half — of Young Americans are not confident that the U.S. will be a global leader in just 10 years. Only 9 percent said they were “very confident” that the U.S. would be in 10 years.
  • 70 percent (net) would increase production of domestic energy sources like oil, natural gas and coal; only 22 percent (net) would decrease production of the same energy sources.

Michele Bachmann's Chinese Chips Comment Ignored

Photo courtesy of Zephyris

While Rick Perry’s “Oops” moment is one of the most reported from Wednesday night’s debate, Rep. Bachmann dropped a bomb on the stage that seems to have largely been ignored by the media – Chinese counterfeit computer components are showing up in U.S. defense weapon systems.

As long ago as 2005, Bloomberg reported that fake computer components were causing failures in multiple military systems. Some reports say that as much as 15% of the spare and replacement components the military buys are counterfeit.

While reliability and safety are prime concerns, national security must also be considered. If it is such an easy matter to get a non-conforming component into a U.S. Department of Defense weapon system, it would be even easier to hide code in those components that might cause failure on command or under a certain circumstance.

Senator Carl Levin spoke at a hearing on Tuesday relaying that his committee had investigated 100 cases of suspected counterfeiting. More than 70% of the couterfeit components came from China.

One weapon system reported to have been impacted by Chinese knock-off chips is the P8-A Poseidon military patrol aircraft.  A chip in the de-icing system failed and upon inspection it was discovered that the system had a counterfeit chip.

Counterfeit transistors have also been found in the Navy’s SH60-B helicopter by Levin’s committe. Raytheon, the defense contractor responsible for the components, did not know about the fake circuits until the investigation by the committee revealed them.

The GAO has also reported that the Navy had purchased counterfeit routers that have a high rate of failure, the Air Force had bought counterfeit chips for use in F-15 flight control systems and unreliable oscillators had been bought from a “prohibited supplier” for use in Air Force and Navy navigation systems seemingly for use in unmanned vehicles.

Sen. Levin testified that the use of counterfeit Chinese components in an Air Force missile cost American taxpayers $2.7 million to repair. Sens. Levin and John McCain are working on legislation preventing Pentagon reimbursement when counterfeit components cause problems. “There’s no reason on earth that the replacement of a counterfeit part should be paid for by American taxpayers instead of by the contractor who put it on the system.”

Defense contractors Raytheon, BAE and Northrop all purchased counterfeit components through brokers such as VisionTech who, despite not employing a single engineer or quality control expert, was able to sell components to defense contractors.

Imagine. No Religion, too.

There’s a woman who lives near me with a personalized license plate that proclaims she’s a WICCAN. If her idea of theology is a penetrating discussion with a pecan tree and she wants to proclaim her lasting commitment to cellulose; that’s her right. Even though the sentiment appears on a plate issued by the Commonwealth.
She’s joined by motorists displaying plates with DRUID, PAGAN and even VEGAN.
Although the thought processes behind the adoption of these belief systems are opaque to me — much like the decision to go out and get a tattoo — knowing religion–oriented plates are out there is not disturbing.
However, one can’t say that for atheists who are very easily disturbed. Evidently their dedication to their lack of faith is so fragile that exposure to slightest whiff of Christianity has the potential to propel them backwards into darkness and superstition. The next thing you know they’re eating Wednesday night dinner in a Baptist Fellowship Hall and wondering why there are never any salt shakers on the table.
Atheists and the separation–of–church–and–state crowd are busy banning Bibles in schools, crosses from Utah roadsides and the phrase “God bless you” from funerals in a Houston VA cemetery. Consequently, they aren’t focused on license plates, but I have a feeling it’s on a To–Do list.
Readers who rely on the news media for their Constitution instruction may not know this, but the document is not actively anti–religion. The founders were believers and the thought of banning government from even the most glancing connection with God would have seemed absurd to them.
The Constitution only prohibits the establishment of a state religion, for example: Emperor worship during the Roman Empire or the Anglican Church in England under Henry VIII.
The phrase “separation of church and state” does not appear in the Constitution. This atheist catchphrase originated in a private letter written by Thomas Jefferson and has no more force of law than this column.
And Jefferson, bless his heart, had his idiosyncrasies. Acting as the Gutenberg of the scissors and a paste–pot set, Jefferson produced his own Bible by literally cutting out the parts he didn’t like and keeping what he did.
This may make him the first Unitarian Universalist and would probably qualify Jefferson to be ordained as an Episcopal bishop, but it does not make him a reliable source on the religious views of the founders.
For the sake of argument, let’s assume the religion scrubbers are correct and the Constitution justifies purging all trace of worship from the public square. The question is what type of government do they think will result?
A cool, clean empire of intellect ruled by Mr. Spock? Maybe, but China is more likely.
This would make many progressives very happy, including those in the White House. China is a communist government run by experts. (A two–fer in progressive circles.) These experts don’t get bogged down in partisan gridlock caused by annoying Republicans who smoke. Decisions are made based on science, not politics. Plus, the experts are Asian and everyone knows how smart they are.
China is also rich. And it has bullet trains that fly between major cities. State–sponsored abortion is legal. (You could almost call it human sacrifice, but that sounds too much like religion.) And since there is only one party, there are no messy political campaigns and tacky commercials.
China is everything a secular humanist could wish for, until a toddler gets hit by a truck.
Then you learn the price for removing religion from the public square. 18 different people in Guangzhou watched as a two–year–old girl, who wandered into traffic, was smashed by delivery van. They left her lying bloody in the street until she was run over by a truck. Finally, after seven long minutes, an elderly scrap peddler, who may not have had anything to lose, dragged her out of the street.
People don’t help injured two–year–olds in China because helping others is not state–approved behavior. In 2007 a young man was sued after he helped an elderly woman with a broken leg to the hospital. The Wall Street Journal reports the court ordered the rescuer to pay 40 percent of the woman’s medical bills because “according to common sense” he would not have helped her if he had not been in some way responsible for her fall.
This is social Darwinism as a governing philosophy. Altruism only creates suspicion in a government where religion is banned.
This is why over time the religion haters won’t like the government that results from their efforts. Because when you jettison God you also jettison the Good Samaritan.

China to Help Fund Latest EU Bailout Package? No Deal

French President Nicolas Sarkozy placed a phone call to China’s President Hu Jintao after European leaders reached another last-minute deal to increase bailout funding in an attempt to tackle the regions worst debt crisis in over two decades. Apparently, Sarkozy’s pleas for China to contribute upwards of $100 billion (U.S.) to the EU bailout fund fell on deaf ears, as China’s refusal to buy EU bonds was reported early Friday morning, much to the dismay of the Global media that had been reporting that China would be buying upwards of $100 billion dollars worth of the EU’s bonds.

 

 Sarkozy attempted to woo public opinion and apply Global pressure by taking to the media in an interview right after his phone call to China’s President in which he stated:  “If the Chinese, who have 60 percent of global reserves, decide to invest in the euro instead of the dollar, why refuse?”  The answer to that question can be found in China’s state media announcement that Europe must take responsibility for the crisis and not rely on “good Samaritans” to save the continent.  Maybe China simply sees the U.S  as a good investment, and the EU..not so much.  China currently holds approximately $3.2 trillion dollars in foreign exchange reserves and was looking for “attractive, solid, safe investment opportunities according to Claus Regling, the chief executive of the European Financial Stability Fund. (EFSF) Mr. Regling is currently on a world tour talking to governments about how the EFSF might be structured so the EU bonds it sells to make money will look “more attractive” As Communist leaders in China try to deal with soaring housing costs and food prices while exporters are struggling to stay afloat, selling EU bonds to China right now is off the table.

The EFSF has already “announced” an increase of some measures including quadrupling the firepower of the fund to one trillion euros ($1.4 trillion). Now the main problem is just where that cash infusion will come from. As stock markets rallied on the recent news of the EU bailout fund quad-rupling, the EFSF is seen to be scrambling to raise the funds.  Isn’t that akin to be placing a bet on an as yet unfunded entity?  China certainly thinks so.

The EFSF fund was set up in May 2010 and is designed to provide financial assistance to European economies at risk of default, such as Greece, Ireland and Portugal. Here we  some 17 months later, and the crisis is now looming larger than ever. Next up on Regling’s EU bailout begging tour is Japan, whom as also offered “vague promises” ( just like China in the beginning) that Japan might be willing to expand it’s already large contributions to the EU’s bailout fund. We can expect Japan to take the route China has in refusing to bury itself in the EU bailout debacle simply because, as The People’s Daily Communist media outlet in China stated: “The (EFSF) summit did not reach any decision on institutional reform and therefore did not eliminate concerns over the (causes of) the European debt crisis at the root.”

Adding to the fact that the EFSF has apparently promised a $1.4T cash infusion into the EU bailout fund without first securing the actual funding, is that, as is usually the case, China will want to put certain “conditions” on their participation in buying EU bonds to increase the EU bailout fund. Those conditions: Greater market access in Europe and silence on their currency manipulation which most economists say is being unfairly undervalued. That tidbit comes to us from IHS Global Insight analyst Ren Zianfang.  Didn’t the U.S. Senate recently pass legislation calling for sanctions against China for undervaluing their currency? Yes they did, as you can see here.

In another shocking revelation, (sarc) also on Friday, a deputy Chinese finance minister said Beijing needs to learn how the new investment vehicle will work before deciding whether to invest.

China wants details on the amount of bonds issued by Italy and other individual European governments that might be guaranteed by the fund, Zhu Guangyao said at a separate briefing. Oh the nerve of those Chinese, wanting petty “details” before committing another $100T to the EU bailout fund!

So the Global market rallied on the EFSF’s recent announcement that they will quadruple the EU bailout funding. All they need to do now is find the money to put into the fund. What a dysfunctional mess of an organization. This is a grand example of how the EU Global government has become so involved with the European banking system that it has exasperated the European financial crisis tenfold, and instead of helping European countries to pull out of the recession, it now threatens to drag the U.S. and the rest of the world down with it.

 

 

 

The New China Syndrome

When hearing a number of conservative (some real, some alleged) figures speak about China, the tone and rhetoric are usually a mix of concern, anger and fear. Donald Trump, one of the alleged conservatives, has spoken at length on the issue, which is probably a chief reason why he gained some traction while contemplating a run for president. Trump has lambasted China for manipulating their currency and “stealing our jobs”. To be clear, China has seen a number of American companies open up facilities there; but I hesitate to calling it “stealing” when we generally push our businesses their way. China, a partially communist country, has a lower corporate tax rate and much fewer regulations than the supposedly capitalist United States. In that sense, its our fault, not their's.

Does China manipulate their currency? Yes, they certainly do. Do we manipulate our currency? Yes, we certainly do. Is the federal reserve endlessly printing money economically beneficial or does it have a brief minor stimulative effect before damaging an economy long term? Most people would agree that its the latter. So if us doing it has negative effects on ourselves, how does China do it to their long term benefit?

China also gets talked up by President Obama as a nation that has invested in “green energy” and that if we don't also invest in green energy, we'll fall behind them. First, China does have a fair amount of factories producing green energy products; and not coincidentally GE has exported a large number of jobs there (yes, that’s correct, our President's chief economic adviser has outsourced thousands of jobs overseas). China also actively builds as many coal power plants as it possibly can. According to the BBC, China is the world's worst polluter; this is not a nation we should always take our cues from. In 2007, a study released by the World Bank has shown that 760,000 people die yearly from pollution related illnesses. But back to green energy briefly, I don't want to insinuate that I hate green energy, because I don't. What I hate is paying billions yearly to companies that produce products that don't work or people don't want. If green energy had such great potential, why do companies need the government to invest in it, wouldn't investors be lining up to make money in such a terrific venture? I am still curious what the realistic expectations from when solar/wind has been sufficiently explored; as far as I know, they aren't expected to be a main source of energy, just complimenting main energy sources. My next question is, why don't we let China dump tons of money into green energy, and if they come up with a product that works, our companies will begin improving on their methods and creating a better product. If not, and so far green energy has been a money sink, then the joke is on them; they've wasted billions of dollars in mal-investments.

Another fear is that China's military is growing stronger and has started to use advanced technology. China spent $100 billion last year on their military budget, the US by comparison is proposing a national defense expenditures of over $950 billion. In terms of money spent, they won't overtake us for a long while. At the moment, China has no bases outside of its borders and hasn't expressed plans to do so. If in the event this does happen, one can expect conservative talk radio to be paranoid and abuzz for weeks, but in my opinion this offers us an opportunity. China has been pressuring North Korea to quit threatening everyone with nuclear war, being as they are in the region, they have quite an interest in stability. If China is dumb enough to ever want to put military bases in locations that we currently police, we can give them the reins to the costly burden we currently carry. If they want to spend tens of billions to put bases in the Korea's and such, we should not only let them, we should encourage them. If needed we can pull the “rope a dope” and fund insurgents to bog them down, however we should be grateful we've found an idiot willing to pay the full cost of an expensive liability that yields no tangible benefits.

Lastly, another of Trump's main issues was the trade war with China. Trump proposed a 20% tariff on Chinese imports. Now, if our goal was to stick it to them, that would be one way of doing it. The problem though is that the goods purchased here by our lower income citizens would cost 20% more, a burden which they cannot afford. Worse, as was caused by the Smoot-Hawley tariff under Hoover, a trade war would likely ensue and China would put a 20%+ tariff on their imports; harming not only our companies but our diplomatic relations. So the best analogy I can think of to this whole 20% tariff on Chinese goods would be comparing it to the Middle Eastern punishment for thievery, which is cutting off the thief's hand. Except when the enforcer went to cut off the thief's hand, he accidentally cuts his hand off as well. Actually its a bit worse than that, because the Great Depression saw the harmful consequences of protectionism and trade wars, so really it'd be more like the enforcer seeing an instructional video of what to avoid doing when severing hands, and still screwing it up anyway.

Do not conclude from this writing that I am a fan of China. As a libertarian, I despise a collectivist state that crushes the individual and China assuredly is that. It is natural for Americans to resent China, as they see our nation's power and prominence transfer to China, in a tragic “changing of the guard” ceremony. But trade agreements only work if they are beneficial to both nations, and our trading with China is mutually beneficial. Spiting them will only cause diminished prosperity in both nations and besides, you don't really want to get on the bad side of your main creditor/a rising power. As Calvin Coolidge once said, “Don't expect to build up the weak by tearing down the strong”. China's rise doesn't have to be America's fall. Be skeptical of all governmental action, foreign and domestic, but don't let irrational fears cause irrational actions.

Another green company scandal?

As if the Solyndra and LightSquared controversies were not enough, another one of President Obama’s favorite companies pushing the green agenda is being investigated, this time in China.

Johnson Controls Inc., which is headquartered in Wisconsin and operates a battery manufacturing facility in Shanghai, has recently come under scrutiny by locals for excessive cases of lead poisoning in children living in the area.  According to China Daily, 25 children in Kangqiao town are being treated for lead poisoning.  The Johnson Controls plant, along with others in the area, has been shut down.

The company released a statement claiming the shutdown was due to reaching their lead production quota set by the Shanghai Environmental Protection Bureau and that the company had voluntarily halted production upon exhausting the quota.

The Johnson Controls plant is located just 700 meters (less than 1/2 mile) from Kangqiao town where the poisoned children live.  The company spends more than $470 USD on health protection for each worker every month.  Some have been found to have excessive lead levels in their blood.  (Source:  China Daily)

Lead poisoning affects the nervous system primarily but can also affect the muscular and reproductive systems.  Children are more affected by excessive blood lead levels than adults.

“In March of this year, 332 people, including 99 children tested positive for lead poisoning in Zhejiang province in eastern China. Local government suspended a local battery factory responsible for the poisoning.”  (Source: CNN International)

Obama visited Johnson Controls Inc. in Wisconsin last summer as part of his push for the green agenda.  Johnson Controls manufactures lithium-ion batteries, also called “stop-go” batteries for hybrid vehicles.

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