Indispensable Nation needs Third-World Investment
April 6th 2006
The decision of Dubai Ports World to withdraw its bid to operate several
American ports has inspired speculations that the decision will have
negative consequences for the American economy.
"At a time when America is living on borrowed foreign credit and
endangered by offshore competition and outsourcing, most foreign
investments can and should be seen as a Good Thing," wrote Christopher
Deliso of balkanalysis.com, an independent provider of news and analysis
in the Balkans.
"The US Treasury and corporations that are increasingly dependent on
investment from overseas, particularly from cash-flush Arab oil
exporters, are anxiously awaiting the aftershocks, as well," added Jim
Lobe of the Interpress Services in Washington, D.C.
The points of Deliso and Lobe have been in development for more than a
decade. Pat Buchanan, in The Great Betrayal, published in 1998,
documented that in 1997 the New York Stock Exchange dropped 192 points
in one day because Japan's prime minister hinted that Tokyo might cash
in their US securities. More recently Buchanan, in a review of America's
trade relations with Mexico (The fruits of NAFTA, World Net Daily, March
10) pointed out that, "From 1999 through 2005, the US trade deficit with
Mexico grew every year, from $27 billion in 1999 to last year's $54
billion....NAFTA delivered some $400 billion in cumulative US trade
deficits." A large part of that deficit is 700,000 autos Mexico sends to
the US every year compared to less than 500,000 this country exports to
the entire world annually.
Mexico, however, is not the biggest exporter to the US.
That title belongs to China which boasted a $202 billion trade surplus
with the US shared last year. To be sure, President Bush is not going to
allow China go without facing some stiff competition. During his recent
trip to India he recognized that, "...the middle class of India is 300
million people large. That's larger than the entire United States. And
when America looks at India, America ought to look at India as a
strategic partner...with whom to trade."
The important point to recognize in the president's statement is that
India has a population of over one billion. Consequently, unless India
has a huge upper class, the nation has over 700 million lower class
laborers--and judging from the flood of outsourcing of tech jobs to
India, those low wage laborers are lusted after by global
industrialists. Furthermore, the dwindling and indebted American middle
class is becoming less attractive to the same.
Perhaps the greatest warning sign that America is facing a serious
economic collapse is the viciousness with which the political and
economic ruling classes are attacking opposing views. "America rejects
the false comfort of isolationism," so pronounced President Bush in his
2006 State of the Union Address. Later he added, "Isolationism would not
only tie our hands in fighting enemies, it would keep us from helping
our friends in desperate need," and, "American leaders -- from Roosevelt
to Truman to Kennedy to Reagan -- rejected isolation and retreat,
because they knew that America is always more secure when freedom is on
the march (there is some interest that Bush's reference includes liberal
The president is not alone in labeling detractors of America's
international military and economic excursions. PBS and New York Times
commentator David Brooks said of the opponents to the Dubai Ports bid,
"This Dubai port deal has unleashed a kind of collective mania we
haven't seen in decades ... a xenophobia tsunami ... a nativist,
isolationist mass hysteria ... God must love Hamas and Muqtada al-Sadr.
He has given them the America First brigades of Capitol Hill. " Thomas
Friedman, also of the Times, added that opposition to the Dubai deal
was, "borderline racist ... There's a poison loose ... If we go Dark
Ages, if we go down the road of pitchfork-wielding xenophobes, then the
whole world will go Dark Ages."
In other words, if the American economy suddenly tanks the blame will
fall on those who stood in opposition to one international transaction
regarding a handful of ports--not on those benevolent souls who have
been engineering the sell out of American workers to encourage
indebtedness and consumerism for more than three decades.
In years passed the US boasted of, "The highest standard of living in
the world." Hard work devoted to a single employer over a lifetime
offered passage into the middle class and self-sufficient family life.
Those days are gone as native born Americans are not only competing for
wages with $20 a week serfs throughout the world, but also find job
markets glutted at home by floods of both legal and illegal immigrants.
Meanwhile, the national government is usurping responsibilities from the
state governments, but leaving the tab to them. Record deficits of the
conservative government are making the nation dependent upon third world
dictatorships for loans to prop up the currency. Worse yet, the national
economy is almost totally dependent upon consumer debt which is reaching
it limit because of an ever-growing number of private bankruptcies.
Once the foreign investors in America see that the consumer market is
tapped out, the money will stop flowing and they will call in payment of
their loans. America will face consequences similar to those of the
German Wiemar Republic of the 1920's. At that time the job of restoring
American culture will return to those of us who have a vested interest
in the welfare of our neighbors. The work won't be easy, but we should
know, by that time, who we can trust.
Bob Strodtbeck has been writing editorial
commentaries since 1993. He has professional experiences in
pharmaceuticals, radio, and education. He has also served as a church
elder in an Orlando congregation where he has made his home since firstname.lastname@example.org
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