America: Out of Control and Heading in the Wrong Direction

economyincrisis ^ | April 06, 2016 | George Barlow

[central_va]

hina now has accumulated approximately $3.2 TRILLION in convertible currency reserves, of which nearly $1.2 trillion are held in U.S. treasury bonds. This has happened through their escalating balance of trade surpluses with America – they sell to us much more than we sell to them every year. In the process, China has been instrumental in putting many of our American companies out of business. This is only possible because of our failed “free trade” policies.

They are using their new found wealth to buy us out! Shuanghui International of China has agreed to buy the American meat processor Smithfield Foods for approximately $4.7 billion. The Chinese firm will pay $34 a share for Smithfield when the deal receives regulatory approval by the Committee on Foreign Investment in the United States, which is expected to happen in the second half of the year. This is the largest complete acquisition of an American company by a Chinese firm to date. By closing the deal, China will now own the world’s largest producer of pork.

[Libertynotfree]

The deal was done.