The Observation Deck

Why is it that SNL does a better job of explaining things than the normal press?

Had its funny moments, but that was wayyyy too long for an opening...I suppose that's not the point you were going for, but, nonetheless...

the U.S. owed China about 800 billion a year ago.

As Ravi Batra has demonstrated, enormous federal deficits are intrinsically tied to trade deficits. stagflation is intrinsically tied to free trade policies and regressive income taxes.

Wall-Street Bankers got their money before November 04, 2008.

Thomas Friedman and his Ilk promoted the trade policies that lead to China's ascendence it is okay: thomas friedman's in-laws needed the cheap merchandise to generate higher mark-ups for their shopping mall empire. it was fun while it lasted.

If Palin or Ron Paul were president we'd be in virtually the same situation or worse at this exact moment. It might go a little different: Palin wouldn't bother flying to China. She'd let dick cheney and michael bolton talk her into invading Iran. Ron Paul would be barricading himself in the white house while the city burned after most of the big banks and remaining industries crumbled under bankruptcy and gridlock and everyone's debit cards stopped working.

China plays by the rules the U.S. handed to them. they will un-peg their currency as soon as they finish expending most of their stockpiled dollars on mineral mines, oil drilling rights, timber, ports, and coal mines. when they do unpeg their currency, they will begin pursuing policies of domestic expansion. U.S. oil imports will surge to 170 "dollars" a barrel. Maybe China will let us save face by loaning us the money to invade Iran. The conservative backlash in America will probably be easy to goad into supporting an invasion of Iran. Maybe Glenn Beck will get in on it.

future technology or innovative technology will not generate meaningful economic "growth". most of our computers are made overseas. our iPods. our video game counsels. our televisions, stereos, cell phones, dvd players, microwave ovens. those GPS/Navigation devices popular in cars. we're going to get stuck with the expense of trying to send tv addicts and juvenile delinquents to college or prison or the CMHA. not the revenue, prosperity, and economic growth of sending them to assembly lines and the factories. in other words...more of the same.

Stephen Eisel wrote:http://www.nbc.com/saturday-night-live/video/clips/china-cold-open/1178451/

painful

but the truth always hurts.


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