Tuesday, March 24, 2009

Comment on Belmont Club
"Loss of lift"

Dodd's wife's side jobs are a smoking gun. Game, Set and Match.

China's call for a new reserve currency is just more kicking the can of the problem down the road. Can't run an honest local government or steal enough from your neighbors? Then send all the power and responsibility to Washington. Uncle Sugar has no more credit to pay for your toys? Then send all the bills to the UN and IMF. The virtues of capitalism include the joining of responsibilities for choices at the point of production. Socialism constantly seeks to offload responsibility. The US borrowed massively from China to pay for hundreds of billions worth of consumer goods and subsidize some of the inflated levels of professional employment in education and financial services. China also got something for the trade. They bought domestic tranquility. The chinese regime is fundamentally illegitimate since it is not based on any ancient lineage like a monarchy, is not based on any revolutionary or divine truth like the white heat of communism was and is not based on the sovereignty of the people. All they have is the Mandate of Heaven, which is another name for inertia.

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