Borrowing money from China

02008-07-20 | Uncategorized | 1 comment

Beyond the Beyond from Wired.com
We’re borrowing money from China to buy oil from the Persian Gulf to burn it in ways that destroy the planet.

From Generational Challenge to Repower America, with (sometimes hilarious) commentary by Bruce Sterling.

1 Comment

  1. Decomprose

    Borrowing vast sums of money from China has left us with little power to influence change there and has given them great power to influence change here. The power of economic interests of our political process is enormous. Remember “buy low, sell high?” In our exuberance several years ago we began looking overseas for the next “buy low.” An increasing amount of American money began being exported, and that money then was not being reinvested back in the US economy. Not looking overseas? Americans playing it safe often put their money in the old reliables: financial stocks or real estate. Real estate crashed, financial stocks crashed as a result, and now foreign capital has entered our stock markets looking for their “buy low.” That means the foreign corporations are stretching funds to take over US ones, while foreign investors’ money is leaving their countries economies creating a ripple effect.

    Here’s a question for you: what if oil prices are being pushed up intentionally by the tremendously in debt US government in order to slow down the Chinese economy? Great conspiracy theory and we currently have an administration short-sighted enough to attempt such a thing.

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