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Wednesday, June 10, 2009

Is Obama Offering Military Technology To China To Cancel Debt?

This was also first posted on Smart Girl Politics

I want to start this out in bold print. This falls into the unbacked rumor category.

We do know that, the U.S. is deep, deep, deep in debt, much of which is held by foreigners. This has been the underlying theme behind the trips abroad to creditor nations by the President and administration officials. People on Wall Street call them Dog And Pony Shows.

We also can make an educated guess that Obama doesn't see many government programs he wants to cut, but rather an ever larger number of worthy causes and bankrupt party backers that need help. We also know that nations like China are becoming more and more nervous about our debt and eager to start exchanging their dollars holdings into things they really want like--oil fields, gold, copper, iron ore and uranium mines as well American technology.

Placed in this context, the president of Squanderville may soon have to shop around some real assets like this...

"According to the Administration, this proposal will help the United States resolve its debt issues. They point out their belief that the B-2 bomber is "strategically obsolete", according to a source in the White House Press Office. In addition, the
source claims that the Chinese would be unable to create their own functioning stealth bomber fleet for "at least eight years."

"American allies Taiwan, Japan, and South Korea are very wary of the proposal. Koo Syi, a geopolitical analyst from South Korea, points out that this technology could be passed to China's allies. This was the case when Chinese nuclear technology was transferred to Pakistan and North Korea. According to Koo, Obama has rendered US allies' opinions as "irrelevant."

My point, really isn't that this rumor is true or false, it's that it points out the underlying fact that sooner or later, we will have to do things like this to keep on spending the way we have been."

I honestly blame not only the Democrats for this but also many of the so called
Neo-Cons many of whom seemed to think we could remain a powerful nation while allowing spending levels that were sure to make us weak. Remember the Suez Crisis?

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