America has been the leader for, like ever, dude.

Not now.  The medal has been stolen transferred.

The Economist listed the the biggest corporations, by market cap, in their last issue.  Of the 7 largest four are NOT U.S. — They are Chinese.  Three are American.

The four Chinese have a market cap value of over ONE TRILLION $$!!

The four U.S. companies (Exxon Mobil, Microsoft, Walmart) have a value of $750 Billion.

Am I the only one that sees a problem here?

And, does the problem have to do with currency controls and imports/exports and fair trade?

Yes to all apparently.

Sure China is growing and has the fastest (in raw numbers) growing middle-class in the world, but are they really becoming the corporate giants this list indicates?

Sadly, the answer is yes, yes, yes.  The investors of the world value Chinese companies and Chinese prospects much more than they do American.

This is because the Chinese model of Communist control of central finances and the treasury allows them to artificially stimulate their own economy at the expense of others.  Keep the yuan low and force the dollar trade to favor them and what do you get?

Big trade deficits in America and tons (literally) of our $$ flowing into the Chinese treasury.

This has got to stop.

Bush allowed it because American’s wanted the inexpensive cheap products that come from China.  Yes, for their kids, for their living rooms and for their kitchens and everywhere else (except so far their garages — but that may be coming).

Obama is allowing it to continue because he and Giethner don’t have the ‘cahones’ to do otherwise.  Well, China does have nearly a trillion $$ of our government’s debt and another trillion or so of our corporations debt . . . and if they don’t keep financing us then the recently waning recession might just look like a beach party.

Still, we have to do something.  Those guys need us too.  If we stop importing and buying all their ‘goodies’ then their economy will crash like the Russians is doing (gosh, do I ever feel sorry for that humble and kind Putin chap).

The Chinese markets are up around 80% since the first of the year.  The U.S. markets are up (on average) about 10%.  Just for your additional, special bonus, information, the Russian markets are up over 50% (crap!!).

Do you think we are suffering at the hands of other governments who have the ability to control everything because they don’t offer fair and balanced voices to their hundreds of millions of citizens?  Because they don’t deal fairly with their trading partners?

Dang right.

So, stop it right now President Obama.  Turn you attack dog Giethner and his attack kitty Summers (Treasury Sec. and Economic advisor respectively) loose.  Let’s start setting some things straight here.  Let’s balance the scales of economic justice.

Free trade.  Fairly valued currencies.  Properly supervised and regulated industry and stock markets (think bubble here).

And a bunch of other things too.  Heck we imported $675 billion more than we exported in the last 12 months.  How long can that go on??  Too long already if you want to know.

So man up here ‘invisible hand’ of the economy (the invisible hand of intelligent trade policy anyway).  Set some new rules, Obama and team.

And take it or leave it Chinese dudes.  We don’t really need all your ‘junk’ flooding our markets (to be honest though I do own a few really quality Chinese-made  big-screen TV’s so that is just my sense of fair play breaking out).

Look, I did business in China for years.  Had to quit partly because I couldn’t stop the illegal knock-offs of my patented products from showing up in places all over the world.  I paid a steep price for their unfair competitive advantage (not to mention illegal).

I speak from experience.

This current system isn’t working and it isn’t fair.

Fix it Mr. Obama.

NOW!

ps: Gosh think of how many jobs a real solution to the trade imbalance might create!!

thanks to cliff1066 at Flickr for the photo

Yet, I’ve got neighbors that don’t know how to make ends meet.? Their plates look pretty empty.? And there are about 10,000,000 others just like them out there!

What gives?

Unemployment, that’s what, you knuckleheads in Washington D.C.!? You give billions to Citi and AIG and Chrysler and GM (and a bunch others) to keep their low-powered but high-maintenance executives busy . . . but what have you done lately for my neighbors?? What about the guys and gals I see panhandling at nearly every freeway exit?? How about the poor folk that are living in tent cities (those that local governments haven’t kicked out so we don’t have the constant reminder)?

NOTHING.? Or at least that is how it seems.

Unemployment hit 9.4% today.? The real unemployment is 16.4% when you add in the frustrated people that have quit looking for jobs or taken part-time work just to survive.? That is 16.4% of our neighbors that are going begging.

What about all that vaunted stimulus money that Obama and Giethner and Summers keep talking up?? Hey, folks that stuff is mostly back end loaded.? We won’t see that for another year or so.? Our leaders are sleeping at the wheel.

It is great that BHO is off trying to assuage the hurt feelings of the thugs in the middle-east who have been holding us hostage to oil prices/supplies for the last forty years . . . sure we need some of their help and we need them to make nice.? BUT FOR CRYING OUT LOUD MR. PRESIDENT DO SOMETHING ABOUT THE UNEMPLOYMENT BEFORE YOU START TRAVELING FULLTIME!!!

Crap, why can’t you and Congress start rebuilding the 50% or so of our bridges that are ready to fail.? What about the dams and reservoirs that are weak and overburdened.? How about the 310,000,000 pot holes in our roads (at least one for every man, woman and child in the country)?? How about upgrading our telephone, electricity and water delivery systems?? What about our sewers (you know the ones that fail and create sinkholes big enough to eat an 18-wheeler for lunch)?

Put some people to work Obama.

Start handing out $$ to the middle-class Secretary Giethner (instead of the greedy bankers).

How about recommending that we clean up our lakes and rivers Presidential economic advisor Larry Summers?

Don’t tell me it takes two years to get some real money into the pockets of the women and men who want to work for a living?? China is setting the example with front loaded infrastructure projects.? Let the dang banks and financial institutions pay back the money we ‘loaned’ them, and start creating jobs.? Get the dang money and do some good with it, somehow, someway, somewhere . . . somesmart!

There is only ONE big problem in our economy President Obama.? The same one I have been railing on for, ohh about a year now!

Unemployment, unemployment, unemployement!!? Jobs, jobs, jobs!!!

Get home and get to work quick BHO or your artificially and unjustified popularity numbers are going to start looking like the unemployment stats.? That’s right in the freaking teens!!

The awful numbers will just keep climbing . . . and those are voters.

Do it and do it now!

Thanks for the photo from flickr to brandi666

But . . .

He is showing signs of missing the boat in the economic and social part of his growingly complicated and wishful agenda.

Two things worry my right now.? The first is his lack of attention to the single biggest economic and social issue of our era . . . Social Security/Medicare.? The second is his continuing lack of concern about unemployment.

Some words of wisdom on both.

I believe that BHO has it right when he points at NOW as the time to implement universal health care.? How can we even consider ourselves a great nation, let alone the greatest, if we fail to provide basic health care for every single one of our citizens?? We can’t.? So that is high on his agenda.? However, he is completely neglecting the pending failure of Social Security and Medicare and they are inextricably related.? Everyone in this country who is not in the highest tax brackets has a varying degree of reliance on these social programs.? Yet, we know they will fail.? Sooner rather than later in the case of Medicare (2017 or earlier).? Our governments unfunded liabilities in these two programs make the current bailout and stimulus package pale in comparison (in the tens of trillions of $$).

The problem here is that even the government has recognized this for a least a generation.? No one wants to do anything about it.? How is BHO going to implement a ’self-funding’ universal health care system if all retirees are bankrupt and living under the nearest freeway overpass? Frankly, I’m already staking out my spot.

This problem has to move to the forefront now.? We have to stop delaying the debate and move on it before it is a bigger crisis than energy independence.

Unemployment.? Jeez Louise, haven’t I said enough about this already?? China has the bulk of their stimulus package tied up in infrastructure projects that are creating meaningful jobs.? There economy is growing still.

And, remember there is a multiplier effect with any new jobs (as in every new job created by the government’s stimulus creates another? half a job or so in the service/retail sectors — the people with new jobs are going to eat and spend somewhere!).? What has BHO done.? Any infrastructure money is limited and mostly out at least 12-18 months.? He’s more worried about the money flow than who it needs to flow to!

Unemployment is 8.9% today (later this week I believe we will see it at 9.3% or even higher).? We have to do something.?

Bail out the banks? Done.? Bail out GM and Chrysler?? Done.? Bail out other financial firms that have close ties to Washington through their lobbyists (AIG, GE, airlines etc.)?? Done.?

Create jobs for the average Joe.? Haven’t even started.?

We are still sliding down that slippery slope with increasing speed.? At the bottom is one heck of a concrete wall and we are heading right for it.

Create jobs Mr. President.? Save our retirement? funds and medicare.? Help out the average American, not those knuckleheads who pay the most taxes but don’t shop at Walmart and the Dollar Store witht he majority of us.

There is an economic forest out there.? Real thick admittedly.? But look for the biggest and weakest trees in the economic and social food chain.? Social Security.? Medicare.? Unemployment.

Please Mr. President.? Please, Michelle.

Don’t care if the markets are taking off.? Don’t care if the future looks bright to Timothy Giethner or Larry Summers or the CEO’s of our corrupt banks.?

Do care if we won’t have anything waiting for us at the end of the 66 year rainbow.

Start with the issues just discussed.?

Then, in 4 or 8 years your legacy will be genuinely positive.? Give us all a future.

Thanks for listening folks, and keep those $$ pouring into the social tax buckets, I’m going to need them sooner than later.

And, you will too someday!

?

Thanks to flickr’s mgspiller for the foto