Saturday, May 17, 2008: that was the day when Colin Powell and John McCain heard distressing news. Ambassadors that had been sent to China were not meeting with much success in persuading the U.S.A.'s biggest creditor to renegotiate repayment terms and/or restructure the debt so that America could more easily manage its financial crises. "This is a little more complex," said one of the O.U.T.RA.G.E. ambassadors, "than trying to convince your local banker to extend your car loan."
The Bush administration had borrowed heavily as it financed its war debt. This was made possible, in large part, because of George H.W. Bush's long-standing relationship with the Chinese government. Even in his eighties, the former head of the CIA, former ambassador to China, and former U.S. President still claimed an international presence, particularly in circles involving the Chinese or the Saudis. On behalf of his son, George H.W. Bush had visited China several times since 2000, arranging for the Chinese to buy more U.S. treasury bonds and loan the U.S.A. much-needed cash. Under cover of working with former President Bill Clinton to generate aid for the December 26, 2005 tsunami victims, Bush was able to divert U.S. government planes to China without much fanfare or observation. When it came to dealing with the Chinese, however, George H.W. Bush didn't have the wit, intelligence, or savvy to match their artificial grins and bows of humility. He was conned by these coy and cunning people. Bush' own hubris did him in, as he made reckless deals, authorized by his son, George W. Bush, the President of the United States. Before anyone realized what was happening, the Chinese had the United States wrapped up a financial hornet's nest in which the U.S. would surely - eventually - get stung.
Ambassadors were shocked at the stupid agreements that had been executed. Certainly from the Chinese government's point of view, it was like taking candy from a baby. The U.S. needed money to feed its million-dollar-a-day warring habit, and the U.S. Treasury couldn't just print more phony money at its whim. So Bush had to borrow, and the Chinese were all too willing to lend - considering the terms were favorable to them, of course.
By the srping of 2006, the Bush administration had squandered $1.27 TRILLION on the Iraq war. Extrapolated into terms most people could comprehend, that meant Bush's folly in Iraq was costing American taxpayers a million-dollars-d-day for the next 3,487 years! By the end of 2007, the war debt had ballooned to over $2 TRILLION. The Bush administration, in its effort to minimize the financial impact of the war, deliberately kept these numbers "off the books"; much of the true cost of the war was not included in Bush's annual federal budgets. It was a deep, dark secret, known only to those in the highest echelons of the federal government, and - of course - to the Chinese, who now had the U.S. exactly where it wanted the U.S.: pinned into a corner from which it couldn't easily escape.
Now the Chinese were being difficult, refusing to renegotiate or restructure these massive loans. Through the team of Bush, the father, and Bush, the ignorant son. the stage had been set for the Chinese to become the world's next super power. For years China had patiently sat on the sidelines and watched American politicians gorge themselves on their own greed and lust for power. Now it was all paying off for the Chinese. As China's economy began to boom, the United States was mired in debt, destruction, and disorder. For the past few years, Chinese motorists were buying more new cars per capita than U.S. motorists. Their demand for oil, as well as all kinds of material goods, was on the rise. Powell and McCain recognized that China would now become the greatest threat to American security, all because of the way George H.W. Bush and his feeble-minded son, George W. Bush, had botched everything. While Bush worried about the AlQaeda "terrorist" threat, the more serious danger came from that quiet giant to the east of the Middle East: The Peoples' Republic of China.
The Bush administration had borrowed heavily as it financed its war debt. This was made possible, in large part, because of George H.W. Bush's long-standing relationship with the Chinese government. Even in his eighties, the former head of the CIA, former ambassador to China, and former U.S. President still claimed an international presence, particularly in circles involving the Chinese or the Saudis. On behalf of his son, George H.W. Bush had visited China several times since 2000, arranging for the Chinese to buy more U.S. treasury bonds and loan the U.S.A. much-needed cash. Under cover of working with former President Bill Clinton to generate aid for the December 26, 2005 tsunami victims, Bush was able to divert U.S. government planes to China without much fanfare or observation. When it came to dealing with the Chinese, however, George H.W. Bush didn't have the wit, intelligence, or savvy to match their artificial grins and bows of humility. He was conned by these coy and cunning people. Bush' own hubris did him in, as he made reckless deals, authorized by his son, George W. Bush, the President of the United States. Before anyone realized what was happening, the Chinese had the United States wrapped up a financial hornet's nest in which the U.S. would surely - eventually - get stung.
Ambassadors were shocked at the stupid agreements that had been executed. Certainly from the Chinese government's point of view, it was like taking candy from a baby. The U.S. needed money to feed its million-dollar-a-day warring habit, and the U.S. Treasury couldn't just print more phony money at its whim. So Bush had to borrow, and the Chinese were all too willing to lend - considering the terms were favorable to them, of course.
By the srping of 2006, the Bush administration had squandered $1.27 TRILLION on the Iraq war. Extrapolated into terms most people could comprehend, that meant Bush's folly in Iraq was costing American taxpayers a million-dollars-d-day for the next 3,487 years! By the end of 2007, the war debt had ballooned to over $2 TRILLION. The Bush administration, in its effort to minimize the financial impact of the war, deliberately kept these numbers "off the books"; much of the true cost of the war was not included in Bush's annual federal budgets. It was a deep, dark secret, known only to those in the highest echelons of the federal government, and - of course - to the Chinese, who now had the U.S. exactly where it wanted the U.S.: pinned into a corner from which it couldn't easily escape.
Now the Chinese were being difficult, refusing to renegotiate or restructure these massive loans. Through the team of Bush, the father, and Bush, the ignorant son. the stage had been set for the Chinese to become the world's next super power. For years China had patiently sat on the sidelines and watched American politicians gorge themselves on their own greed and lust for power. Now it was all paying off for the Chinese. As China's economy began to boom, the United States was mired in debt, destruction, and disorder. For the past few years, Chinese motorists were buying more new cars per capita than U.S. motorists. Their demand for oil, as well as all kinds of material goods, was on the rise. Powell and McCain recognized that China would now become the greatest threat to American security, all because of the way George H.W. Bush and his feeble-minded son, George W. Bush, had botched everything. While Bush worried about the AlQaeda "terrorist" threat, the more serious danger came from that quiet giant to the east of the Middle East: The Peoples' Republic of China.
posted by Bushwacker! at 8:01 AM
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