“And lastly, he failed to take on China. It’s been a mistake for both Democrat and Republican Administrations. China is still cheating on trade. They are taking the life blood out of the industrial base of this country, which is taking the good wages and good jobs of the middle class that underpins the housing industry in this country, a major segment of our economy. “
One of only a handful(Issa, Hayworth, DeMint) who understand how economies actually operate.
AJM: One of the reasons he’s not going to be particularly or even mildly bellicose to the Chinese is that he has to fund all of his trillion dollar spending sprees, he needs them to keep buying the securities.
DH: Well, I think that’s the argument made to almost every president. The point is, if you really believe in that argument, and you believe that the red Chinese have an enormous amount of leverage over the United States right now, then by allowing them to continue this drag on the American industrial base you are agreeing to them INCREASING leverage over the United States in the coming decades! Meaning it is going to get much worse, and that China will continue to become an industrial powerhouse, that they will continue to accumulate American assets. And they’ll spend a great deal of those assets on a war machine, which they are building right now!
(snip)
So by saying “they’ve have a hold on us, they’ve got us by the shorthairs, they’ve got leverage on us, therefore we’re going to allow them to continue to extract America’s industrial base, and build up theirs while weakening ours” is essentially conceding the future to communist China. That’s what Obama is doing. I reject that. I think that’s a huge mistake.