[StBernard] ban cheap goods made in China

[Westley Annis]

I would love the idea John and here's why it won't work:

The Bank of Korea's reserves of foreign exchange have roughly doubled in the
past 3 1/2 years, to $207 billion -- a staggeringly large sum for a country
of 48 million people but not a uniquely Korean phenomenon. The Bank of Japan
holds reserves of $823 billion; the People's Bank of China holds $769
billion; Taiwan's central bank holds $252 billion. The vast bulk of those
reserves are invested in U.S. Treasury bonds and other U.S. securities, such
as bonds issued by the mortgage finance company Fannie Mae.

Link to old story [this was pasted from it]  http://tinyurl.com/5dxg95

The thing is, we have to deficit finance our government and we sell bonds at
auction as ref'd above.  Who's buying those bonds T-bills, T-notes, etc?
Foreign governments and mainly these days it's China.  If we stop their crap
from coming in, they stop buying our paper and we're up the crick.  

I forget now what it was even, but the other day I purchased an item (and
not at Walmart) which was just, ya know, every day crap...got home opened it
and upon flipping it over there it was:  Made in China.






	-----------------------------------------------------
	I've been saying it for years, the U.S. government or the President
needs to
	revoke Favored Nation Status to China. Give U.S. businesses who have
	interests based in China 2 years notice to make the necessary
adjustments,
	then pull the plug on Red China.
	
	John Scurich