Open your eyes

[DEVOREFLYER]

The purpose of this post is to open your eyes to what is going on with China, the dollar, our debt, manufacturing loss of jobs and the future.

China’s Dagong credit rating agency on October 17th downgraded its United States sovereign credit rating to A- and maintained its negative outlook on America’s solvency. Dagong warned that despite Washington's last-minute resolution of the debt ceiling deadlock, “The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged.”

China's official state-run news agency, Xinhua, reiterated its statements that because of the continuing risk of a U.S. debt default, it is “a good time for the befuddled world to start considering building a de-Americanized world.” This language is code for China wanting to abandon the U.S. dollar as the world’s “reserve currency” and move international financial transactions to the renminbi, the currency of the People's Republic of China.

Having benefited for twenty years from their under-valued currency, importing manufacturing jobs, and exporting lower priced products, China’s comparative advantage is being destroyed by America’s oil and natural gas fracking boom. The Chinese communist authorities are terrified their loss of competitiveness will cause unemployment and the social consequences that flow from it. But with the terms of trade now substantially against China, convincing the world to dump the U.S. dollar as reserve currency and switch to the Chinese “renminbi” is their best hope to try to save tens of millions of manufacturing jobs.

When the Soviet Union collapsed in the early 1990s, China’s economy began to implode and inflation skyrocketed from 10% to 25%. The United States, Europe, and Japan saved the Chinese economy by allowing China to devalue their currency by 68% and gain tariff free export to the world’s largest markets. Under this new communist form of capitalism from 1993 to 2008, China’s economy quadrupled, the U.S. economy doubled, Europe's rose by half, and Japan's stagnated.

Contract manufacturing is a very competitive business and historically had an average profit margin of only 3.5%. This assumes uncontrollable costs of about 75-80% for purchased inputs and 13.5% for energy. The companies primarily compete over managements’ ability to get more or less productivity from an average of 8.5% in labor cost, but China’s labor rates were initially 75% cheaper than the U.S. By moving production to China, manufacturers could often double their profit margins to 7% of sales. Once in China, manufacturers could also discount their sales prices to wipe out U.S. competition.

U.S. trade “experts” in 1993 expected Chinese workers’ total factor productivity (TFP) would be less than a quarter of American workers’ 1.25% annual productivity gain. This may not sound like allot, but over a 15 year period Chinese manufacturers would produce a unit for 95% of original cost and U.S. manufacturers would be producing the same unit for 82% of cost. The “experts” predicted few jobs would be lost to China, and America would gain new markets for high tech manufactured goods.

Over the next 15 years, China grew the number of assembly workers involved in manufacturing for export to over 200 million workers. America lost about eight million manufacturing jobs to China, 40% of our 20 million production jobs. But even more damaging, every manufacturing job also lost four service jobs and another 1.58 manufacturing jobs from sub-assembly manufacturers who locate near their customer.

China understood that as it sucked manufacturing jobs out of the U.S., the Chinese renminbi currency would be expected to rise in value and destroy their “cheap” labor advantage. As a communist nation, they adopted a national policy of recycling a portion of their export sales revenue into the purchase of U.S. Treasury bonds to drive up the value of the U.S. dollar versus the Chinese renminbi.

Fearing that every 10% increase in the exchange rate of the renminbi to the dollar would cause the loss of 35 million manufacturing jobs, by 2008 China had purchased $2 trillion in U.S. Treasury Bonds. China’s bond purchases drove down U.S. interest rates and caused a real estate building boom, employing millions of Americans. But when the real estate bubble burst, the “Great Recession” educated Americans on the pain of losing manufacturing jobs.

China’s labor costs became even more uncompetitive versus the U.S. after the 2008 financial crash drove down U.S. wages. In response, the communist nation began “administering” input costs by subsidizing the cost its state-owned export manufacturers paid to purchase energy. As a country that imports 70% of its oil needs, subsidies preserved manufacturing employment. But the subsidized prices increased the demand for oil and drove the international price of oil from a recession low of $40 up to $100 barrel.

The financial crisis caused such scandal in the U.S. that banks were forced to slash their leverage risk down from holding $25 to $13 of assets for each $1 of deposits. The Chinese authorities directed their state-owned-banks to increase leverage from $35 to $48 of assets for each $1 of deposits. Chinese banks also increased infrastructure and commercial and residential property loans. Policy lending created such huge new inefficiencies in the Chinese economy that many bank loans can never be repaid.

“China's steady growth in oil demand has led it to become the world's largest net oil importer, exceeding the United States in September 2013,” according to the U.S. Energy Information Administration. China’s rising oil demand in September outstripped domestic production by 6.3 million barrels per day. But U.S. imports continue to fall as fracking technology increased production to 7.8 million barrels per day, the highest level since early 1989. Natural gas production is also rapidly increasing, and America will soon be self-sufficient in this important industrial energy source. The price for 1,000 cubic feet of natural gas averages about $3.50 in the U.S. versus over $12 in China.

China remains an impoverished nation, where 900 million people have an annual per capita income around the same level as Guatemala ($3,000-$3,500 a year) and 500 million have an annual per capita income around the same level as Nicaragua ($1,500-$1,700). China's per capita GDP is around the same level as the Dominican Republic. Stimulating the domestic consumer economy will not help manufacturers when the vast majority of Chinese cannot afford to buy the products they currently produce for export.

The Chinese benefited enormously from being allowed to devalue their currency and participating with the dollar as their reserve currency. But if China continues aggressive lending to failing businesses, they will generate higher inflation and make Chinese exports more uncompetitive. But allowing businesses to fail would cause unemployment and massive social and political problems. If China sells their $3.3 trillion of U.S. Bonds, the dollar will fall and America will become more competitive. As China’s economic decline becomes obvious, it is doubtful they will convince the world to allow China to devalue and make the renminbi the world’s reserve currency.

China, as the second largest economy in the world, will continue to be a major international power. But its days as the low-wage, high-growth center of the earth are over. Their ability to project military power in Asia will also fade. China’s future may be similar to what George Friedman of Stratfor famously said about the future of Japan after the end of its high-growth cycle: “it will play a different role.”


If you understand the above then why in "THE HELL" is the pResident against "Drill Baby Drill", building the pipeline and putting tariffs on China imports and why doesn't the Fed quit pumping printed money into the system lowering the value of the dollar. I know the answers do you?

[Lady Quagga]

The purpose of this post is to open your eyes to what is going on with China, the dollar, our debt, manufacturing loss of jobs and the future.

If you're going to suck on the breitbart.com teat Dev, at least give them the proper attribution.

[DEVOREFLYER]

If you're going to suck on the breitbart.com teat Dev, at least give them the proper attribution.

Beats what your sucking, just sayin'...........

[Lady Quagga]

Beats what your sucking, just sayin'...........

That's cute and all, but it doesn't change your plagiarism. I can understand if you lack the capability of formulating such an essay on your own, or need to copy someone else's work in order to express the thoughts you've been spoon-fed, but at least let folks know the elephant you're suckling off of.

[DEVOREFLYER]

Bite me!!!!!!

[HawgZWylde]

The purpose of this post is to open your eyes to what is going on with China, the dollar, our debt, manufacturing loss of jobs and the future.

China’s Dagong credit rating agency on October 17th downgraded its United States sovereign credit rating to A- and maintained its negative outlook on America’s solvency. Dagong warned that despite Washington's last-minute resolution of the debt ceiling deadlock, “The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged.”

China's official state-run news agency, Xinhua, reiterated its statements that because of the continuing risk of a U.S. debt default, it is “a good time for the befuddled world to start considering building a de-Americanized world.” This language is code for China wanting to abandon the U.S. dollar as the world’s “reserve currency” and move international financial transactions to the renminbi, the currency of the People's Republic of China.

Having benefited for twenty years from their under-valued currency, importing manufacturing jobs, and exporting lower priced products, China’s comparative advantage is being destroyed by America’s oil and natural gas fracking boom. The Chinese communist authorities are terrified their loss of competitiveness will cause unemployment and the social consequences that flow from it. But with the terms of trade now substantially against China, convincing the world to dump the U.S. dollar as reserve currency and switch to the Chinese “renminbi” is their best hope to try to save tens of millions of manufacturing jobs.

When the Soviet Union collapsed in the early 1990s, China’s economy began to implode and inflation skyrocketed from 10% to 25%. The United States, Europe, and Japan saved the Chinese economy by allowing China to devalue their currency by 68% and gain tariff free export to the world’s largest markets. Under this new communist form of capitalism from 1993 to 2008, China’s economy quadrupled, the U.S. economy doubled, Europe's rose by half, and Japan's stagnated.

Contract manufacturing is a very competitive business and historically had an average profit margin of only 3.5%. This assumes uncontrollable costs of about 75-80% for purchased inputs and 13.5% for energy. The companies primarily compete over managements’ ability to get more or less productivity from an average of 8.5% in labor cost, but China’s labor rates were initially 75% cheaper than the U.S. By moving production to China, manufacturers could often double their profit margins to 7% of sales. Once in China, manufacturers could also discount their sales prices to wipe out U.S. competition.

U.S. trade “experts” in 1993 expected Chinese workers’ total factor productivity (TFP) would be less than a quarter of American workers’ 1.25% annual productivity gain. This may not sound like allot, but over a 15 year period Chinese manufacturers would produce a unit for 95% of original cost and U.S. manufacturers would be producing the same unit for 82% of cost. The “experts” predicted few jobs would be lost to China, and America would gain new markets for high tech manufactured goods.

Over the next 15 years, China grew the number of assembly workers involved in manufacturing for export to over 200 million workers. America lost about eight million manufacturing jobs to China, 40% of our 20 million production jobs. But even more damaging, every manufacturing job also lost four service jobs and another 1.58 manufacturing jobs from sub-assembly manufacturers who locate near their customer.

China understood that as it sucked manufacturing jobs out of the U.S., the Chinese renminbi currency would be expected to rise in value and destroy their “cheap” labor advantage. As a communist nation, they adopted a national policy of recycling a portion of their export sales revenue into the purchase of U.S. Treasury bonds to drive up the value of the U.S. dollar versus the Chinese renminbi.

Fearing that every 10% increase in the exchange rate of the renminbi to the dollar would cause the loss of 35 million manufacturing jobs, by 2008 China had purchased $2 trillion in U.S. Treasury Bonds. China’s bond purchases drove down U.S. interest rates and caused a real estate building boom, employing millions of Americans. But when the real estate bubble burst, the “Great Recession” educated Americans on the pain of losing manufacturing jobs.

China’s labor costs became even more uncompetitive versus the U.S. after the 2008 financial crash drove down U.S. wages. In response, the communist nation began “administering” input costs by subsidizing the cost its state-owned export manufacturers paid to purchase energy. As a country that imports 70% of its oil needs, subsidies preserved manufacturing employment. But the subsidized prices increased the demand for oil and drove the international price of oil from a recession low of $40 up to $100 barrel.

The financial crisis caused such scandal in the U.S. that banks were forced to slash their leverage risk down from holding $25 to $13 of assets for each $1 of deposits. The Chinese authorities directed their state-owned-banks to increase leverage from $35 to $48 of assets for each $1 of deposits. Chinese banks also increased infrastructure and commercial and residential property loans. Policy lending created such huge new inefficiencies in the Chinese economy that many bank loans can never be repaid.

“China's steady growth in oil demand has led it to become the world's largest net oil importer, exceeding the United States in September 2013,” according to the U.S. Energy Information Administration. China’s rising oil demand in September outstripped domestic production by 6.3 million barrels per day. But U.S. imports continue to fall as fracking technology increased production to 7.8 million barrels per day, the highest level since early 1989. Natural gas production is also rapidly increasing, and America will soon be self-sufficient in this important industrial energy source. The price for 1,000 cubic feet of natural gas averages about $3.50 in the U.S. versus over $12 in China.

China remains an impoverished nation, where 900 million people have an annual per capita income around the same level as Guatemala ($3,000-$3,500 a year) and 500 million have an annual per capita income around the same level as Nicaragua ($1,500-$1,700). China's per capita GDP is around the same level as the Dominican Republic. Stimulating the domestic consumer economy will not help manufacturers when the vast majority of Chinese cannot afford to buy the products they currently produce for export.

The Chinese benefited enormously from being allowed to devalue their currency and participating with the dollar as their reserve currency. But if China continues aggressive lending to failing businesses, they will generate higher inflation and make Chinese exports more uncompetitive. But allowing businesses to fail would cause unemployment and massive social and political problems. If China sells their $3.3 trillion of U.S. Bonds, the dollar will fall and America will become more competitive. As China’s economic decline becomes obvious, it is doubtful they will convince the world to allow China to devalue and make the renminbi the world’s reserve currency.

China, as the second largest economy in the world, will continue to be a major international power. But its days as the low-wage, high-growth center of the earth are over. Their ability to project military power in Asia will also fade. China’s future may be similar to what George Friedman of Stratfor famously said about the future of Japan after the end of its high-growth cycle: “it will play a different role.”


If you understand the above then why in "THE HELL" is the pResident against "Drill Baby Drill", building the pipeline and putting tariffs on China imports and why doesn't the Fed quit pumping printed money into the system lowering the value of the dollar. I know the answers do you?

Because the pResident wants our current economic system to collapse. "Fundamental change" could not occur here without it...

[Lady Quagga]

Bite me!!!!!!

Um no thanks.

[HawgZWylde]

That's cute and all, but it doesn't change your plagiarism. I can understand if you lack the capability of formulating such an essay on your own, or need to copy someone else's work in order to express the thoughts you've been spoon-fed, but at least let folks know the elephant you're suckling off of.


So, disprove his point rather than attack the character. Who cares where the info came from, if it's inaccurate, then debate the facts rather than assassinate the messenger. So I'm curious Quagga, Dev asked "If you understand the above then why in "THE HELL" is the pResident against "Drill Baby Drill", building the pipeline and putting tariffs on China imports and why doesn't the Fed quit pumping printed money into the system lowering the value of the dollar. I know the answers do you?"

So where's your answer?

[Lady Quagga]

Because the pResident wants our current economic system to collapse. "Fundamental change" could not occur here without it...

What do you mean by "current" economic system? Exactly what "new" economic system do you believe he envisions for this country in the wake of such a collapse? What speech from Obama have you heard outlining this "new" system? The actions of this administration have had no more a drastic impact than the four previous, in spite of all your blubbering suggesting otherwise.


So, disprove his point rather than attack the character. Who cares where the info came from, if it's inaccurate, then debate the facts rather than assassinate the messenger. So I'm curious Quagga, Dev asked "If you understand the above then why in "THE HELL" is the pResident against "Drill Baby Drill", building the pipeline and putting tariffs on China imports and why doesn't the Fed quit pumping printed money into the system lowering the value of the dollar. I know the answers do you?"

So where's your answer?

Hmm, are you suggesting that this administration is trying to block an oil supply which infringes upon private property ownership and presents some significant environmental concerns and does more to benefit a foreign oil and domestic refinery corporations because of some attempt to cripple our economy at the hands of foreign petrodollars? Adjust the tinfoil, man.

Tariffs on Chinese imports wouldn't serve the goal you seek, especially considering both trade agreements and a lack of regulations in other countries which have sent production jobs from American companies offshore to produce the goods we are importing back in, and created this trade imbalance in the first place.

Uh oh, the Fed is PRINTING FIAT MONEY? And controls the rate of the money it prints IN A REGULATORY RESPONSE TO THE ECONOMY? Do we get to hear about hyperinflation in the Weimar Republic now? (This is where we get to hear about someone's lineage and how they were part of the "other" Germans....) DooooOOOOooooommmMMMmmmmm!!!!!!!

[HawgZWylde]

"Saving General Motors from bankruptcy was among President Obama’s most frequently cited achievements when he ran for re-election last year. Democrats everywhere touted the company’s revival as proof of the 2009 bailout’s wisdom. That was then. Now, Obama has quietly released the auto manufacturer from a bailout requirement that it increase its production in the U.S. Instead, GM is spending billions of dollars building up its production capacity in ... China.

This is happening despite the fact that the Treasury Department has to date recovered just $36 billion of its original $51 billion loan to GM. By most analysts’ predictions, American taxpayers will be out approximately $10 billion when the remaining stock is sold off. Which is a long way of saying that it now appears that taxpayers paid $10 billion to make it easier for GM to accelerate its foreign outsourcing and send more manufacturing jobs to China.


Here’s what happened: In exchange for the bailout in 2009, GM promised to meet certain domestic car production targets over the next four years. The obvious point of this stipulation was to ensure that GM jobs remained here at home and weren't shipped overseas. The production targets started at 1.8 million in 2010 and were supposed to rise to 2.26 million by 2014. GM repeatedly missed the targets, beginning with an 81,000-unit shortfall the first year. Production increased thereafter, but never quite enough to meet the targets. Last year, GM fell about 13,000 cars short of its 2 million target.

How did it do this year? GM refuses to say. But in February, GM announced in its annual report to shareholders that Treasury had agreed to “irrevocably waive certain of its rights” regarding the federal loan. These included “certain manufacturing volume requirements.” Guess what happened next? GM announced in June that it would stop releasing its North American production figures altogether. Its spokesman tried to justify this move with Orwellian doublespeak about how providing more information would result in “an incomplete data set to look at.”

The same month, GM announced it would boost its output from its China plants by 70 percent. It is not just selling Chinese-made cars to the Chinese, either. GM is nearly doubling its export production capacity there from 77,000 units to 130,000. It doesn’t take a Ph.D. in economics to see what is really going on. GM cannot make the domestic production targets and still turn a profit. It wants to be spared the embarrassment of having everyone know that. Obama, who is in this as deep as anyone can be, doesn’t want the embarrassment, either. So both buried the news.

It is yet more proof that Mitt Romney was right in the 2012 presidential campaign: GM should have gone through a traditional bankruptcy instead of the politicized farce of a taxpayer-funded bailout and government managed “bankruptcy.” The TARP funds involved could have instead been used to provide liquidity for a managed sale to a private buyer that minimized the opportunities for political interference in the new GM’s operations."

http://washingtonexaminer.com/examiner-editorial-gm-got-bailout-now-ships-jobs-to-china/article/2537323

Think this is coincidental Dev?

[DockRat]

No, TPP is not Tea Party Patriots.
Trans-Pacific Partnership :Confused:
China is huge but watch out for Pacific nations too.

http://i302.photobucket.com/albums/nn109/Akonhomie/TPPForever.png (http://media.photobucket.com/user/Akonhomie/media/TPPForever.png.html)


WEDNESDAY, OCTOBER 16, 2013
Obama Secretly Signing Away U.S. Sovereignty

By Aaron Klein

Despite the government shutdown, the Obama administration has continued secret negotiations to complete what is known as the Trans-Pacific Partnership, or TPP.The expansive plan is a proposed free-trade agreement between the U.S., Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.The agreement would create new guidelines for everything from food safety to fracking, financial markets, medical prices, copyright rules and Internet freedom.The TPP negotiations have been criticized by politicians and advocacy groups alike for their secrecy. The few aspects of the partnership leaked to the public indicate an expansive agenda with highly limited congressional oversight.

A New York Times opinion piece previously called the deal the "most significant international commercial agreement since the creation of the World Trade Organization in 1995."

Last week, the White House website released a joint statement with the other proposed TPP signatories affirming "our countries are on track to complete the Trans-Pacific Partnership negotiations."

"Ministers and negotiators have made significant progress in recent months on all the legal texts and annexes on access to our respective goods, services, investment, financial services, government procurement, and temporary entry markets," the White House said.

The statement did not divulge details of the partnership other than to suggest a final TPP agreement "must reflect our common vision to establish a comprehensive, next-generation model for addressing both new and traditional trade and investment issues, supporting the creation and retention of jobs and promoting economic development in our countries."

In February, the Open the Government organization sent a letter to Obama blasting the lack of transparency surrounding the TPP talks, stating the negotiations have been "conducted in unprecedented secrecy."

"Despite the fact the deal may significantly affect the way we live our lives by limiting our public protections, there has been no public access to even the most fundamental draft agreement texts and other documents," read the letter.

The missive was signed by advocacy groups such as OpenTheGovernment.org, Project On Government Oversight, ARTICLE 19 and the Global Campaign for Freedom of Expression and Information.

The groups warned issues being secretly negotiated include "patent and copyright, land use, food and product standards, natural resources, professional licensing, government procurement, financial practices, healthcare, energy, telecommunications, and other service sector regulations."

LACK OF OVERSIGHT

Normally free-trade agreements must be authorized by a majority of the House and Senate, usually in lengthy proceedings.

However, the White House is seeking what is known as "trade promotion authority" which would fast track approval of the TPP by requiring Congress to vote on the likely lengthy trade agreement within 90 days and without any amendments.

The authority also allows Obama to sign the agreement before Congress even has a chance to vote on it, with lawmakers getting only a quick post-facto vote.

A number of lawmakers have been speaking out about the secret TPP talks.

Sen. Ron Wyden, D-Ore., recently proposed legislation requiring the White House to disclose all TPP documents to members of Congress.

"The majority of Congress is being kept in the dark as to the substance of the TPP negotiations, while representatives of U.S. corporations—like Halliburton, Chevron, PHRMA, Comcast, and the Motion Picture Association of America—are being consulted and made privy to details of the agreement," said Wyden.

However, Obama has so far refused to give Congress a copy of the draft agreement.
REGULATES FOOD, INTERNET, MEDICINE, COMMERCE

The TPP is "more than just a trade deal," wrote Lori Wallach and Ben Beachy of Public Citizen's Global Trade Watch in a New York Times op-ed last June.

"Only 5 of its 29 chapters cover traditional trade matters, like tariffs or quotas. The others impose parameters on non-trade policies. Existing and future American laws must be altered to conform with these terms, or trade sanctions can be imposed against American exports."

Wallach and Beachy spotlighted several leaks in the proposed TPP text, including one that would regulate the price of medicine.

"Pharmaceutical companies, which are among those enjoying access to negotiators as 'advisers,' have long lobbied against government efforts to keep the cost of medicines down. Under the agreement, these companies could challenge such measures by claiming that they undermined their new rights granted by the deal."

Amnesty International USA warned draft TPP provisions related to patents for pharmaceuticals "risk stifling the development and production of generic medicines, by strengthening and deepening monopoly protections."

Another leak revealed the TPP would grant more incentives to relocate domestic manufacturing offshore, Wallach and Beachy related.

Jim Hightower, a progressive activist, wrote the TPP incorporates elements similar to the Stop Online Piracy Act.

Hightower wrote the deal would "transform Internet service providers into a private, Big Brother police force, empowered to monitor our 'user activity,' arbitrarily take down our content and cut off our access to the Internet."

Indeed, Internet freedom advocacy groups have been protesting the TPP, taking specific issue with leaked proposals that would enact strict intellectual property restraints that would effectively change U.S. copyright law.

The Electronic Frontier Foundation argued the TPP would "restrict the ability of Congress to engage in domestic law reform to meet the evolving IP needs of American citizens and the innovative technology sector."

In a petition signed by over 30 Internet freedom organizations, the group warned the TPP would "rewrite global rules on intellectual property enforcement."
Read more: http://www.bibleprop...l#ixzz2i1vkond8


http://www.youtube.com/watch?v=9SOokUdKYcM

[DEVOREFLYER]

"Saving General Motors from bankruptcy was among President Obama’s most frequently cited achievements when he ran for re-election last year. Democrats everywhere touted the company’s revival as proof of the 2009 bailout’s wisdom. That was then. Now, Obama has quietly released the auto manufacturer from a bailout requirement that it increase its production in the U.S. Instead, GM is spending billions of dollars building up its production capacity in ... China.

This is happening despite the fact that the Treasury Department has to date recovered just $36 billion of its original $51 billion loan to GM. By most analysts’ predictions, American taxpayers will be out approximately $10 billion when the remaining stock is sold off. Which is a long way of saying that it now appears that taxpayers paid $10 billion to make it easier for GM to accelerate its foreign outsourcing and send more manufacturing jobs to China.


Here’s what happened: In exchange for the bailout in 2009, GM promised to meet certain domestic car production targets over the next four years. The obvious point of this stipulation was to ensure that GM jobs remained here at home and weren't shipped overseas. The production targets started at 1.8 million in 2010 and were supposed to rise to 2.26 million by 2014. GM repeatedly missed the targets, beginning with an 81,000-unit shortfall the first year. Production increased thereafter, but never quite enough to meet the targets. Last year, GM fell about 13,000 cars short of its 2 million target.

How did it do this year? GM refuses to say. But in February, GM announced in its annual report to shareholders that Treasury had agreed to “irrevocably waive certain of its rights” regarding the federal loan. These included “certain manufacturing volume requirements.” Guess what happened next? GM announced in June that it would stop releasing its North American production figures altogether. Its spokesman tried to justify this move with Orwellian doublespeak about how providing more information would result in “an incomplete data set to look at.”

The same month, GM announced it would boost its output from its China plants by 70 percent. It is not just selling Chinese-made cars to the Chinese, either. GM is nearly doubling its export production capacity there from 77,000 units to 130,000. It doesn’t take a Ph.D. in economics to see what is really going on. GM cannot make the domestic production targets and still turn a profit. It wants to be spared the embarrassment of having everyone know that. Obama, who is in this as deep as anyone can be, doesn’t want the embarrassment, either. So both buried the news.

It is yet more proof that Mitt Romney was right in the 2012 presidential campaign: GM should have gone through a traditional bankruptcy instead of the politicized farce of a taxpayer-funded bailout and government managed “bankruptcy.” The TARP funds involved could have instead been used to provide liquidity for a managed sale to a private buyer that minimized the opportunities for political interference in the new GM’s operations."

http://washingtonexaminer.com/examiner-editorial-gm-got-bailout-now-ships-jobs-to-china/article/2537323

Think this is coincidental Dev?

Nothing to see here move on. Quote da Quagga. lol

Where is our tin foil hat I think da Quagga is confirming our suspicions of being a bleeding heart LIB. Just another Lib troll, she must not be havin' much luck at the boat pier these days lookin' for that Sugar Daddy.

[Lady Quagga]

Nothing to see here move on. Quote da Quagga. lol

Where is our tin foil hat I think da Quagga is confirming our suspicions of being a bleeding heart LIB. Just another Lib troll, she must not be havin' much luck at the boat pier these days lookin' for that Sugar Daddy.

I've said here previously that I was not (and am still not) a supporter of the bailouts. Troubled assets are just that - troubled. There was no guarantee the U.S. was going to recover what it invested. But while the article goes out of it's way to cite Obama's reelection claims, it fails to identify who actually signed the act into law. As for GM, if we break down the facts purported by the article quoted, we have the following:

- they met 94% of their first-year goal
- they met 99% of last year's goal
- they've increased overseas production to increase profitability
- there is nothing in the article to support its claim that this increased production has occurred at the cost of domestic jobs

Now, I would be curious to see if someone could provide stats on domestic GM jobs lost, and if those numbers (if any) correspond with the number of overseas jobs added. But I am not seeing a conspiracy here, only the effects of poor policy which was implemented before this administration.

[cutbait]

"better than what your sucking"



HAHAHAHA..

Top ten stuff right there

[DEVOREFLYER]

Cutbait do ya think her missing from the board for a while was because she getting leg humpin' lessons from that Lib French Poodle. Her and that Frenchy guy sure like leg humpin' for the pResident. I wonder if she signed up for 0bamma Care yet, ya know free birth control and abortions are hard to pass up.

[HawgZWylde]

Outsourcer-In-Chief: Obama Of General Motors;

At a Colorado pep rally, President Obama praised his GM bailout as an example for American industry to follow.

“The American automobile industry has come roaring back…So now I want to say what we did with the auto industry, we can do it in manufacturing across America. Let’s make sure advanced, high-tech manufacturing jobs take root here, not in China. And that means supporting investment here. Governor Romney … invested in companies that were called ‘pioneers’ of outsourcing. I don’t want to outsource. I want to insource.” Applause!

According to Obama, GM does everything right. It offers high-paying jobs to American workers. It invests at home. GM put American manufacturing back in the high-tech race on American soil. The new GM is good for America, and America is good for GM, as a former GM chairman declared in 1953. GM is back where it should be.

We need to look no further than General Motors’ own figures to learn that GM outsources almost two thirds of its jobs overseas. Less than one in five GM vehicles are manufactured in the United States.

To be exact: GM’s December 31, 2011 annual report shows General Motors of North America accounting for 98,000 of the 207,000 GM jobs worldwide. But 12,000 of these jobs are in Canada and 11,500 are in Mexico. Accordingly, GM has 74,500 jobs in the United States and 122,500 abroad, even after Obama’s touted surge in Detroit jobs. Almost two thirds of GM’s jobs are in other countries.

GM’s outsourcing is not a slip. GM clearly states that foreign investment and outsourcing of jobs are an integral parts of its growth strategy.

Grace D. Lieblein, President and CEO of GM Mexico, for example, proudly announced in a GM Mexico press release:

“75 years ago, General Motors came to our country with a dream to fulfill: turning Mexico into a prosperous nation for the benefit of millions of families. Today, after 75 years into the adventure, we have achieved goals that seemed unattainable, thanks to the efforts and dedication of Mexican talent. During the 75 years GM Mexico has been in operation, the subsidiary has produced 7 million vehicles, 20 million engines, and 4 million transmissions. GM Mexico employs 11,500 direct and about 90,000 indirect employees.”

So it now appears that GM’s goal is to make Mexico prosperous, not the good old US of A! In the same press release, GM heralds its upcoming billion dollar investments in its Mexican plants (versus a $100 million investment in Rochester, New York). It should have saved the Rochester announcement for another day.

GM is no less ambitious with respect to manufacturing in the BRIC countries of Brazil, Russia, India, and China. Again from GM’s annual report:

“We will continue to grow our business under the Baojin, Jiefang, and Wuling brands. We operate in Chinese markets through a number of joint ventures and maintaining good relations with our joint venture partners, which are affiliated with the Chinese government, is an important part of our Chinese growth strategy.”

Seems like a good match: U.S. Government Motors with China’s “national champions.” Well, Obama likes government-private partnerships. Our GM is now in cahoots with the titans of the Chinese Communist Party.

http://www.forbes.com/sites/paulroderickgregory/2012/08/12/outsourcer-in-chief-obama-of-general-motors/

[etucker1959]

That's cute and all, but it doesn't change your plagiarism. I can understand if you lack the capability of formulating such an essay on your own, or need to copy someone else's work in order to express the thoughts you've been spoon-fed, but at least let folks know the elephant you're suckling off of.

My hero is back!!!!!! I don't have the time or the desire to debunk the cut/paste articules of others. If it's mainstream news I'm there, if not I call that a rabbit hole argument. So people stop calling me clueless to your rabbit hole arguments. My debunker is back!!!!! lol

[Lady Quagga]

Cutbait do ya think her missing from the board for a while was because she getting leg humpin' lessons from that Lib French Poodle. Her and that Frenchy guy sure like leg humpin' for the pResident. I wonder if she signed up for 0bamma Care yet, ya know free birth control and abortions are hard to pass up.

Sweetheart, if I wanted to learn about leg humping, I'd sit in on one of your bako boy champagne room sessions.

Now stfu and get back to huffin' spraypaint!

[cutbait]

Devo, I'm this close to my own personal Quagga inspection. Don't **** this up for me.

I still have some moisture in the bilge though

[Lady Quagga]

Hawgz, it's no secret that many GM jobs are not domestic, and as the previous article indicates, they've increased overseas production. My question was, has this increased production overseas occurred at the expense of domestic GM jobs?

Don't think for a second I am a particular fan of GMs outsourcing efforts (or the trade agreements which facilitate them) or multi-billion dollar TARP losses. But if we are going to engage in political hit-pieces, there is plenty of blame to go around....


Outsourcer-In-Chief: Obama Of General Motors;

At a Colorado pep rally, President Obama praised his GM bailout as an example for American industry to follow.

“The American automobile industry has come roaring back…So now I want to say what we did with the auto industry, we can do it in manufacturing across America. Let’s make sure advanced, high-tech manufacturing jobs take root here, not in China. And that means supporting investment here. Governor Romney … invested in companies that were called ‘pioneers’ of outsourcing. I don’t want to outsource. I want to insource.” Applause!

According to Obama, GM does everything right. It offers high-paying jobs to American workers. It invests at home. GM put American manufacturing back in the high-tech race on American soil. The new GM is good for America, and America is good for GM, as a former GM chairman declared in 1953. GM is back where it should be.

We need to look no further than General Motors’ own figures to learn that GM outsources almost two thirds of its jobs overseas. Less than one in five GM vehicles are manufactured in the United States.

To be exact: GM’s December 31, 2011 annual report shows General Motors of North America accounting for 98,000 of the 207,000 GM jobs worldwide. But 12,000 of these jobs are in Canada and 11,500 are in Mexico. Accordingly, GM has 74,500 jobs in the United States and 122,500 abroad, even after Obama’s touted surge in Detroit jobs. Almost two thirds of GM’s jobs are in other countries.

GM’s outsourcing is not a slip. GM clearly states that foreign investment and outsourcing of jobs are an integral parts of its growth strategy.

Grace D. Lieblein, President and CEO of GM Mexico, for example, proudly announced in a GM Mexico press release:

“75 years ago, General Motors came to our country with a dream to fulfill: turning Mexico into a prosperous nation for the benefit of millions of families. Today, after 75 years into the adventure, we have achieved goals that seemed unattainable, thanks to the efforts and dedication of Mexican talent. During the 75 years GM Mexico has been in operation, the subsidiary has produced 7 million vehicles, 20 million engines, and 4 million transmissions. GM Mexico employs 11,500 direct and about 90,000 indirect employees.”

So it now appears that GM’s goal is to make Mexico prosperous, not the good old US of A! In the same press release, GM heralds its upcoming billion dollar investments in its Mexican plants (versus a $100 million investment in Rochester, New York). It should have saved the Rochester announcement for another day.

GM is no less ambitious with respect to manufacturing in the BRIC countries of Brazil, Russia, India, and China. Again from GM’s annual report:

“We will continue to grow our business under the Baojin, Jiefang, and Wuling brands. We operate in Chinese markets through a number of joint ventures and maintaining good relations with our joint venture partners, which are affiliated with the Chinese government, is an important part of our Chinese growth strategy.”

Seems like a good match: U.S. Government Motors with China’s “national champions.” Well, Obama likes government-private partnerships. Our GM is now in cahoots with the titans of the Chinese Communist Party.

http://www.forbes.com/sites/paulroderickgregory/2012/08/12/outsourcer-in-chief-obama-of-general-motors/

[etucker1959]

Outsourcer-In-Chief: Obama Of General Motors;

At a Colorado pep rally, President Obama praised his GM bailout as an example for American industry to follow.

“The American automobile industry has come roaring back…So now I want to say what we did with the auto industry, we can do it in manufacturing across America. Let’s make sure advanced, high-tech manufacturing jobs take root here, not in China. And that means supporting investment here. Governor Romney … invested in companies that were called ‘pioneers’ of outsourcing. I don’t want to outsource. I want to insource.” Applause!

According to Obama, GM does everything right. It offers high-paying jobs to American workers. It invests at home. GM put American manufacturing back in the high-tech race on American soil. The new GM is good for America, and America is good for GM, as a former GM chairman declared in 1953. GM is back where it should be.

We need to look no further than General Motors’ own figures to learn that GM outsources almost two thirds of its jobs overseas. Less than one in five GM vehicles are manufactured in the United States.

To be exact: GM’s December 31, 2011 annual report shows General Motors of North America accounting for 98,000 of the 207,000 GM jobs worldwide. But 12,000 of these jobs are in Canada and 11,500 are in Mexico. Accordingly, GM has 74,500 jobs in the United States and 122,500 abroad, even after Obama’s touted surge in Detroit jobs. Almost two thirds of GM’s jobs are in other countries.

GM’s outsourcing is not a slip. GM clearly states that foreign investment and outsourcing of jobs are an integral parts of its growth strategy.

Grace D. Lieblein, President and CEO of GM Mexico, for example, proudly announced in a GM Mexico press release:

“75 years ago, General Motors came to our country with a dream to fulfill: turning Mexico into a prosperous nation for the benefit of millions of families. Today, after 75 years into the adventure, we have achieved goals that seemed unattainable, thanks to the efforts and dedication of Mexican talent. During the 75 years GM Mexico has been in operation, the subsidiary has produced 7 million vehicles, 20 million engines, and 4 million transmissions. GM Mexico employs 11,500 direct and about 90,000 indirect employees.”

So it now appears that GM’s goal is to make Mexico prosperous, not the good old US of A! In the same press release, GM heralds its upcoming billion dollar investments in its Mexican plants (versus a $100 million investment in Rochester, New York). It should have saved the Rochester announcement for another day.

GM is no less ambitious with respect to manufacturing in the BRIC countries of Brazil, Russia, India, and China. Again from GM’s annual report:

“We will continue to grow our business under the Baojin, Jiefang, and Wuling brands. We operate in Chinese markets through a number of joint ventures and maintaining good relations with our joint venture partners, which are affiliated with the Chinese government, is an important part of our Chinese growth strategy.”

Seems like a good match: U.S. Government Motors with China’s “national champions.” Well, Obama likes government-private partnerships. Our GM is now in cahoots with the titans of the Chinese Communist Party.

http://www.forbes.com/sites/paulroderickgregory/2012/08/12/outsourcer-in-chief-obama-of-general-motors/

You laugh at my thoughts of mercantilism for the USA. GM would have to pay a price for enriching other countries if we enforced a form of mercantilism. In the future you going to hear more and more talk about that. Remember where you heard it first!!!!!!!!!!!!

[DEVOREFLYER]

You laugh at my thoughts of merchantalism for the USA. GM would have to pay a price for enriching other countries if we enforced a form of merchantalism. In the future you going to hear more and more talk about that. Remember where you heard it first!!!!!!!!!!!!

MERCHANTALISM LMFAO. Hey Frenchy is that what your Cracker Jack box MBA thesis was on. If so you should have gotten an "F" as it's MERCANTILISM and not MERCHANTALISM. Yip your a real genius my little French Poodle.

[City Dad]

Too long for my short attention spa

[TroutOnly]

I told you already what a quagga does it sits there and waits for something to come by that it can suck on,,,,,,,,,,,,,,lol,,,,,,,,,,,,,,,,,,,carpboy keep poundin them beers,,,,,,,,,,,,,,,,,

[Lady Quagga]

Dammit, who drank all the Dewars?

[etucker1959]

MERCHANTALISM LMFAO. Hey Frenchy is that what your Cracker Jack box MBA thesis was on. If so you should have gotten an "F" as it's MERCANTILISM and not MERCHANTALISM. Yip your a real genius my little French Poodle.
Hey, I was using my computer without the spell check. I wonder what everyone else's comments would look like, if they didn't have a spell checker. lol Where is Seal when you need him to complain about the spelling Nazis. lol

[DEVOREFLYER]

Hey it was your thesis you should know it by heart my little lap dog French Poodle. lol

[HawgZWylde]

My hero is back!!!!!! I don't have the time or the desire to debunk the cut/paste articules of others. If it's mainstream news I'm there, if not I call that a rabbit hole argument. So people stop calling me clueless to your rabbit hole arguments. My debunker is back!!!!! lol

http://i152.photobucket.com/albums/s162/calimae/hat2.jpg (http://media.photobucket.com/user/calimae/media/hat2.jpg.html)

"I don't have the time or the desire to debunk the cut/paste articules of others"

Because you can't. Facts always befuddle French poodles.

Hey L/Q, you better watch out, I think Frenchy's about to go A. Weiner on you...

[HawgZWylde]

Simply amazing.

U.S. debt jumped more than $400 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.

The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.

The increase is an all-time record, shattering the previous high of $238 billion set two years ago.

Read more: http://www.washingtontimes.com/news/2013/oct/18/us-debt-jumps-400-billion-tops-17-trillion-first-t/#ixzz2i63xWTUu

[DEVOREFLYER]

That's because the debt was stuck for 150 days at $25 million below the ceiling. 150 fricking days unchanged how does that happen.Fuzzy math ya think. Wake up people we are being PAWNED!!!!

[Lady Quagga]

"I don't have the time or the desire to debunk the cut/paste articules of others"

Because you can't. Facts always befuddle French poodles.

Hey L/Q, you better watch out, I think Frenchy's about to go A. Weiner on you...

French poodle? I know we all love the pet names people have for one another (I know the Bako Boy Pole Dancer loves his), but I don't recall the origin of this one. At any rate, we've covered this ground regarding our relative posting before.

[DEVOREFLYER]

French poodle? I know we all love the pet names people have for one another (I know the Bako Boy Pole Dancer loves his), but I don't recall the origin of this one. At any rate, we've covered this ground regarding our relative posting before.

Short memory eh, no surprise I though it was selective memory. Oh and you don't rember Frenchy aka etucker wavin' the white flag. What relatives do you have posting here is it DS?

[Lady Quagga]

Short memory eh, no surprise I though it was selective memory. Oh and you don't rember Frenchy aka etucker wavin' the white flag. What relatives do you have posting here is it DS?

Devdancer, that doesn't explain the poodle part.

And sorry, but DS and I are not related. Try again.

EDIT: And are you actually pulling the short/selective memory card? After I explained to you previously that etucker and I post independently from one one another, and that rarely do I comment upon his posts? Something you've chosen to forget or gloss over yet again? Keep sucking that Krylon Dev, it's doing miracles for your brain cells.

[DEVOREFLYER]

etucker aka Frenchy waved the white flag get it? Them Frenchy's are always wavin' the white flag "LOSERS" always the LOSERS. They did have a draw once I think it was the French Revolution. etucker is the French Poodle that won't quit leg humpin' for the pResident and I heard a rumor he licks his private parts too, just a rumor mind ya, just a rumor......

On the second question I guess I messed up, it was just a sleep over?

[Lady Quagga]

just a rumor mind ya, just a rumor......

Indeed, it's amazing how rumors persist.

Now get back up on that pole and start dancing. Oildale's finest are counting on you.

[DEVOREFLYER]

Did ya polish it for me?

[DockRat]

JPMorgan sells New York building to Chinese firm for $725 million
By Charles Riley @CRrileyCNN October 18, 2013: 9:13 AM ET

http://i967.photobucket.com/albums/ae151/MinusOne26/jpmorgan.jpg (http://media.photobucket.com/user/MinusOne26/media/jpmorgan.jpg.html)

HONG KONG (CNNMoney)
JPMorgan Chase has sold the One Chase Manhattan Plaza skyscraper to Fosun International for $725 million, the latest in a series of New York real estate purchases by Chinese investors.
The purchase was disclosed Friday in a regulatory filing by Fosun, a Shanghai-based conglomerate that controls large swaths of China's pharmaceutical, investment, property and steel industries.

The 60-story Lower Manhattan office building is a New York landmark, and one of the anchors of the city's financial district. It's not yet clear whether the building will continue as a commercial space, or be converted to an apartment building. A JPMorgan spokesman did not immediately respond to a request for comment.
A spokeswoman for Fosun said that property will only grow in value, citing its prime location and the renovation of the nearby Fulton Street transportation hub.
The purchase is the second major property acquisition by a Chinese company in recent days as buyers with money to burn look for value outside China.
Related: Chinese acquisitions of U.S. firms
Shanghai-based Greenland Group last week became 70% owners in a joint venture that will develop Atlantic Yards, a 22-acre residential and commercial real estate project in downtown Brooklyn.
The overall project, located at a commuter rail hub, includes the Barclays Center, a basketball and hockey arena that opened last year. It is home to the NBA's Brooklyn Nets and will be home to the NHL's New York Islanders starting in 2015.
Earlier this year, a Chinese property developer took a 40% stake in the General Motors Building in Manhattan.
Related story: China not impressed by U.S. debt deal
Why Chinese are buying U.S. real estate
Why Chinese are buying U.S. real estate
For JPMorgan, which is in talks to settle a number of government investigations, the sale should provide a cash infusion.
The bank is facing a possible settlement related to mortgage-backed securities that could cost as much as $11 billion. JPMorgan (JPM, Fortune 500) said Wednesday that it would pay $100 million to the U.S. regulators, conceding "reckless" behavior led to the London Whale trading debacle that generated about $6 billion in losses.
Chase moved its headquarters from One Chase Manhattan Plaza to an address near Grand Central Terminal in 1996, although some employees remain stationed downtown.
It was not immediately clear whether those employees will be relocated.

http://money.cnn.com/2013/10/18/news/china-jpmorgan-real-estate/

[HereFishy]

What I gather from a few different sources is that the American fracking boom is going to happen no matter what Obumer or china tries to do. America is headed for growth, exporting cheap LNG to the world while becoming independent of foreign oil with our own oil production. What obama is most likely doing now, is figuring out how to slap his name all over this growth, making him look like god to his already blinded followers. Having achieved that "status", and while standing on the backs of American innovators and engineers, he won’t be leaving his throne anytime soon, even after his second term is up... having said that, I also am preparing for a zombie apocalypse, so that shows how valid my opinions are...

[HawgZWylde]

What I gather from a few different sources is that the American fracking boom is going to happen no matter what Obumer or china tries to do. America is headed for growth, exporting cheap LNG to the world while becoming independent of foreign oil with our own oil production. What obama is most likely doing now, is figuring out how to slap his name all over this growth, making him look like god to his already blinded followers. Having achieved that "status", and while standing on the backs of American innovators and engineers, he won’t be leaving his throne anytime soon, even after his second term is up... having said that, I also am preparing for a zombie apocalypse, so that shows how valid my opinions are...

Yup, they can't wait to get their dirty socialist hands on the profits and the glory. Remember, "we in the did not build that"...

[HawgZWylde]

Oh it's getting better DR;

Senate Democrats back automatic debt limit hikes

WASHINGTON (AP) — The Senate voted along party lines Tuesday to reject a GOP effort that would have blocked the approved increase in the national debt limit.

The chamber voted 54-45 against the GOP move to try to use a special "disapproval" process to block that increase.

The move came as Senate Democrats proposed to avoid future showdowns over the so-called debt ceiling by giving the president authority to authorize additional federal borrowing unless Congress can muster veto-proof margins to block him.

The move by Sens. Charles Schumer, D-N.Y., Barbara Boxer, D-Calif., and Mazie Hirono, D-Hawaii, is aimed at heading off future Washington confrontations over increasing the government's borrowing cap. Debt limit battles this fall and in 2011 spooked financial markets and took the government precariously close to a default on its obligations.

"It's time for us to put in place a straightforward process to avoid a catastrophic default on our nation's debt," Boxer said, adding that the legislation "sends a strong message of certainty to the markets, to our families and to the world."

The Democratic legislation is based on a proposal first unveiled by GOP Leader Mitch McConnell of Kentucky during the 2011 debt limit battle. But McConnell weighed in against the Democratic plan even before it was unveiled, saying debt increases must be paired with spending cuts or other reforms.

The recently-passed debt limit measure included the mechanism under which the president proposes a debt increase that takes effect automatically unless Congress approves legislation to overturn the move. He could veto that legislation, however.

"Increases in the debt ceiling should be accompanied by reforms," McConnell said. "That's just what we did in 2011, when Congress raised the debt ceiling in return for enacting $2 trillion in bipartisan spending control."

McConnell is positioned to filibuster the measure if Democrats try to force a vote and the measure is a non-starter with the GOP-controlled House.

http://news.yahoo.com/senate-democrats-back-automatic-debt-limit-hikes-145832075--finance.html

"giving the president authority to authorize additional federal borrowing unless Congress can muster veto-proof margins to block him."

So in order to stop him, any other party would have to have a super majority. Anybody else see where this is going? I do...

[HawgZWylde]

Bend over and say ahhh

Your share of the national debt is now $1.1 million

Each U.S. taxpayer now has a federal-debt liability of $1.1 million, and rising.

Remember that when President Obama boasts that the federal deficit—the shortfall between annual revenues and spending—is declining. Of course, the primary reason for the decline is the sequester, which was his idea but now adamantly opposes.

The public tends to focus on the total national debt, which just passed the $17 trillion mark—up from $10.6 trillion when President Obama took office. But that figure pales in comparison to the federal government’s long term unfunded liabilities—money the government is obligated to pay over and above the revenues it is estimated to receive.

According to the U.S. Debt Clock, total long term unfunded liabilities are at $126 trillion, a $1.1 million liability for each U.S. taxpayer.

The main driver of that astronomical number is two of our major entitlement programs: Social Security and Medicare.

The Debt Clock says Social Security is looking at $16.6 trillion in unfunded liabilities, while Medicare faces $87.6 trillion. And Medicare’s prescription drug benefit, which passed in 2003, adds another $22 trillion.

The Debt Clock’s Medicare unfunded liability is twice the current government projection—$43 trillion—because Democrats used Obamacare to try and deceive the public. Prior to passage the government’s estimate was similar to the Debt Clock’s.

That difference is because Obamacare requires the Medicare trustees, who annually report on the program’s financial condition, to assume that Medicare will significantly cut reimbursements to doctors and hospitals in the future.

Medicare’s chief actuary, the now-retired Richard Foster, didn’t believe a word of it and published a separate “memorandum” to shine a light on the Democrats’ financial foolery.

“The Trustees Report is necessarily based on current law; … however, the projections shown in the report are clearly unrealistic … The purpose of this memorandum is to present a set of Medicare projections under hypothetical alternatives to those provisions to help illustrate and quantify the potential magnitude of the cost understatement under current law,” Foster’s memorandum states.

In Obama-land, disclosures like that— unlike lying to Congress or bungling the Obamacare rollout—can lead to retirement in a hurry.

The health law requires the trustees to assume a steady decline in hospital reimbursement rates for Medicare to about 39 percent of what private insurance would pay in 2086. And reimbursements for physicians serving Medicare patients “would eventually fall to 26 percent of private health insurance levels.”

The chief actuary didn’t think many doctors would see Medicare patients if they were taking a 75 percent cut to do so—and he’s right.

So keep a close eye on members of Congress as they get together soon to consider budget changes, including entitlement reform. Democrats have proven they are willing to cook the books to make it look like they are spending less—so they can spend much, much more.
- See more at: http://rare.us/story/your-share-of-the-national-debt-is-now-1-1-million/#sthash.m3V6OB0K.dpuf

Ya gotta love those "fuzzy numbers" eh?

[sktruth]

i will say hawgz that medicare and social security needs to be dealt with, but in my opinion, the defense budget is the biggest problem to the deficit, by numbers anywaise...

[HawgZWylde]

China? Authoritarian communist China? Owning anything USA? Say it ain't so;

What will China buy? Beijing goes shopping in the U.S.

China is forecast to spend roughly $1 trillion over the next decade buying up foreign assets, including about $15 billion to $20 billion a year on U.S. investments, according to the Kiplinger Letter.

But what, exactly, are Chinese firms buying?

Kiplinger offers its best guess as to which sectors will be targeted, based on recent acquisitions:

1) Energy: With China relying on imported energy, it may seek assets here. Kiplinger cites state-owned Sinochem’s $1.7 billion purchase for a share of Texas shale formations owned by Pioneer Natural Resources Co. PXD

Sell off OUR energy assets to communist China? How about energy independence for us? Hey, aren't out our gas prices high enough yet?

2) Financial Services: Some Chinese interests may look for purchases that offer U.S. financial expertise, “as the Asian giant prepares for the more open financial markets that will come with a consumer economy,” the investment letter said.

Ah hell why not, we already owe em a trillion or more right?

3) Food Production: Here, the main impetus is securing food supplies not tainted with the litany of food-safety scandals that plague the Chinese market. Case in point: Shuanghui Group’s $4.8 billion deal for Smithfield Foods Inc. (Read Craig Stephen’s column of China’s food-safety ambitions.)

Anybody been to the grocery store and seen the prices lately?

4) Real Estate: While the appetite for U.S. property among individual Chinese investors is well known, Kiplinger also sees more purchases ahead in the commercial real-estate space, along the lines of Fosun International Ltd. HK:656 snagging One Chase Manhattan Plaza, or the Chinese consortium which bought the General Motors building, also in New York.

Hummmmmer. Are we really the United States of China?

5) Manufacturing: This front involves China seeking “to hang on to work that is, in some cases, moving back to the U.S.,” according to Kiplinger, citing a recent investment in a U.S. auto-parts plant by Chinese firm Yanfeng USA.

Yup, gotta make sure those USA folks have plenty of part time jobs...

marketwatch.com/thetell/2013/10/28/what-will-china-buy-beijing-goes-shopping-in-u-s/

America, your politicians and it's crony capitalists have sold you out...

[DockRat]

Good read Hawgz.

Check this banned commercial.


https://www.youtube.com/watch?v=TYKAbRK_wKA

[etucker1959]

Good read Hawgz.

Check this banned commercial.


https://www.youtube.com/watch?v=TYKAbRK_wKA
Obliviously that commercial was made by a Conservative organization. If I wanted to make a counter commercial, here's what I would do. I would start by showing the Chinese laughing, then fast forward 10 years when America struck back with total Mercantilism. Their goods would have no market place to be sold, and their factories along with their Economy would be in total shambles!!!!!!

[DockRat]

Etucker, Banging the drum 'Say No to Chinese Products since the 1980's' I wish people would listen. We are turning into SLAVES of the Chinese.
Human livestock. This video explains how it happens. Some minor graphic clips at the beginning.

EVERY SINGLE PRODUCT WE BUY FROM THEM MAKES THEM STRONGER AND THE USA WEAKER.

http://www.youtube.com/watch?v=Xbp6umQT58A

[DockRat]

Obliviously that commercial was made by a Conservative organization.

This is what I wrote about in a previous reply. Any content that you absorb must first be LABELED ? Instead of INDEPENDENTLY THINKING about the content like us REGISTERED INDEPENDENTS all information you ingest gets labeled. WHY DO YOU LIVE THIS WAY ? Classic Sheep mentality. Very common IMO.
Try living more open minded, Dems like yourself have some good ideas (and many coo coo ones too) Reps, Ind's, Grn party all can bring something.
People just need to listen to all ideas and NOT just believe in ONE parties ideas.

Actually I was a closet Obama fan about some of his ideas in 08. Turned out to be TOTAL BULLSH!!!T SPEECHES. Dude completely lied to 'The American People' Frikin Loser.


Glad I stayed in the closet. Lol
DR
http://i200.photobucket.com/albums/aa104/defying_sanity/biden-fist-pump-o.gif (http://media.photobucket.com/user/defying_sanity/media/biden-fist-pump-o.gif.html)

[etucker1959]

Etucker, Banging the drum 'Say No to Chinese Products since the 1980's' I wish people would listen. We are turning into SLAVES of the Chinese.
Human livestock. This video explains how it happens. Some minor graphic clips at the beginning.

EVERY SINGLE PRODUCT WE BUY FROM THEM MAKES THEM STRONGER AND THE USA WEAKER.

http://www.youtube.com/watch?v=Xbp6umQT58A

I'm with you on this Bro!!!!!!!! Remember the old bumper stickers that said, "Buy American." It should of come with a second bumper sticker. The second would have said, "OR YOU END UP WORKING AT MCDONALDS."