China will discipline reckless Obama regime

"July 10 (Bloomberg) -- Returning from China last month, U.S. Congressman Mark Kirk had a bearish take on a high-level visit by American officials.

Treasury Secretary Timothy Geithner claimed the U.S.’s biggest creditor voiced great confidence in its debt. Kirk, an Illinois Republican, came back with the opposite impression.

“China is beginning to cancel Congress’s credit card,” he told Fox News on June 10. It “doesn’t want to lend much more money to the United States and especially is worried about the Fed’s policy of printing money to buy new debt.”

A month later, there’s no doubt about whose assessment was more accurate. Chinese leaders are clearly very concerned about the dollar. How they will react is a key question hanging over markets, and it’s time to take the discussion to the next level."

http://www.bloomberg.com/apps/news?pid=20601039&sid=aKLGZEc7qoqA

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My take: I noted some months ago that conservatives are in the odd position of having to rely on the authoritarian regime in China to stop the American president from destroying this country's market-based economic system.

Fortunately, the Chinese are coming through by sending clear signals that the dollar is no longer the currency of their dreams.
They will accomplish what the corruptocrats in Washington refused to even try. By refusing to keep buying U.S. debt they will put a leash on a reckless, arrogant and economically challenged administration that believes it can spend its way back to prosperity.

China is a sure-footed, economically disciplined rising giant that will soon land a haymaker on the preening narcissist in the White House, who prefers to dwell on hallucinations like global warming while the nation's economic underpinnings crumble.

Cap and trade: devastation posing as salvation

"The House Energy and Commerce Committee has voted to send to the House floor probably the most destructive bill ever passed out of a congressional committee. The Waxman-Markey energy-rationing bill, if enacted, will be the biggest tax increase in the history of the world. It will take trillions of dollars from consumers while making massive payoffs to the big business special interests that support the bill.

By raising energy prices through the roof, it will destroy millions of jobs and create perpetual economic stagnation.

The Committee’s Democratic majority voted down numerous amendments that would limit the economic damage. They voted to continue energy rationing even if gasoline prices go above five dollars a gallon or electricity prices double or unemployment exceeds fifteen percent. They voted against provisions to restrict speculators manipulating the market in rationing coupons and against suspending the scheme if China and India refuse to agree to undertake their own energy-rationing policies.

The Waxman-Markey energy-rationing bill poses a huge threat to American prosperity and freedom. It would impoverish Americans and turn America into a third-rate economy."

http://blog.heritage.org/2009/05/23/another-opinion-on-waxman-markey-cei/