However, during the same period China has considerable increased its holdings of US Treasury bills, bonds and notes. In March 2010 the the holdings were $ 895.2 billion, in March 2011 $ 1144.9 billion. See link below:
Of course there are thing they can do. For example, they can come out say they are human being and they are not perfect and they too, make mistake.
However, we are told they are perfect, without them making decision for us, we will be in a he'll hole and eating each other's flesh. When time is good, they took credit, when time is bad, they finger pointing.
This only happen in politic. If a new CEO is hired to turn around the company and he blames his failure to the guy to brought down the company, he will be fired the very minute. But why is it acceptable in politic?
I can't help but wonder how large the crop circle would be for someone who basically caused the unnecessary death of several hundred thousand people, including many innocent Women and Children, all predicated on the idea of controlling petroleum that never belonged to them and distributing profit sharing agreements like Halloween candy at the door of dishonor and reckless abandon. I bet that crop circle would cover the entire globe.
Equally as important, is the routine and customary misapplication of the term "socialism" by most of the voting electorate in the U.S., who (in the aggregate and mostly spoon fed by the Media) have yet to learn the distinction between Nordic Socialism and Marxism, which is how we end up with 41% of the country actually believing that our current President is a Marxist - without really understanding what Marxism was all about.
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The problem is with the failure of the voting electorate here in the U.S., to educate itself in the aggregate. So, we end up allowing the last 3 months of every presidential election cycle to constitute our understanding of government and how it works. That means that the too many people get snowed under by political talking points and high-paid media pimps dressed-up as purveyors of "news," but in reality are nothing more than paid propaganda machines. Of course, the USSC just made that matter a whole lot worse by essentially allowing corporations to flood the political process with cold hard cash and precious little accountability.
The problem is not politics, socialism, capitalism or government. The problem is a total lack of proper education on what works and what does not work, as the foundation for governance in the United States. We need more (proper) education - the People can do the rest once the lights get turned on.
President's and their Administrations have far more power to rip apart our economy, than they do to build-up our economy. Take for example, war. A sitting U.S. President has the ability to thrust the U.S. into war, which can be the causality for regional destabilization that impacts the entire global economy in a very negative way. Even though the U.S. imports most of its oil from Canada and Mexico, by launching a military conflict somewhere in the Middle East, other economies that depend on OPEC start to see their fuel prices rise, which places pressure on their respective economies and in turn has the natural negative impact of driving extended prices up for their trading partners. Since the United States is one of the largest Importers on the planet, we suffer that negative impact disproportionately around the globe in most cases. And, that's just one way in which our economy gets hurt by war in the Middle East. There are plenty of other examples to consider.
On the other side of the equation, the President will in most cases need the support of the Congress, to pass legislation in the form of job creating tax credits and corporate related stimulus that is dependent on a company's ability and willingness to create new jobs. Clinton, had that support, but the Republicans in both the Senate and the House, have never wanted to work with Obama, in the same way. What they gave Clinton, they turn around and denied Obama.
The reason is clear - they want Obama to fail and their biggest proponent (Rush Limbaugh) has made that crystal clear. Remember, when a Republican on Congress says something that Rush does not like, that Congressional member has to go to Rush and beg for Rush's forgiveness. We've seen this happen several times before. So, clearly, the agenda of many in Congress, is to see Obama fail as President, regardless of how that helps to continue the suppression of the United States economy.
When you are President, and you are up against that kind of reckless political opposition - it becomes extremely difficult to govern and to lead. That's the reality of Washington. We have a country AND a government that is so divided along political and ideological lines, that bringing forth real solutions to real problems that will stand the test of time, is anathema to government these days.
But, this must be the system that we want - because this the system that we've created for ourselves. One in which precious little for the American People ever gets done, while the American People suffer the consequences of rising debt and a Middle Class that slowly melts away into oblivion. It is virtually impossible in a society predicated on Capitalism, to have a long-term healthy economy with Middle Class in corresponding decline. That's a surefire recipe for man made disaster. If the Middle Class wins, we all win. If the Middle Class loses, we all lose. In a free market, capitalistic society, it simply can't be any other way.
Of course, if you are a truly successful trader then most of this does not apply economically. However, there could come a day when you grow weary of having to drive your vehicle through a scene taken straight out of Mad Max Beyond Thunderdome, just to reach your custom built 15,000 sqft. home, sitting on its pristine 14 acre lot. Having the run that kind of gauntlet just to get home, might cause some to want to seek a life elsewhere.
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In the interview -- with NBC’s Matt Lauer on Feb. 1, 2009, just days after his presidency began -- Obama said it was up to him to turn the economy around in three years, and if not, he doesn’t deserve a second term.
Lauer: "At some point will you say, `Wait a minute. We've spent this amount of money, we're not seeing the results. We've got to change course dramatically.’ "
Obama: "Yeah, look, I'm at the start of my administration. One nice thing about the situation I find myself in is that I will be held accountable. You know, I've got four years and...
Lauer: "You're going to know quickly how people feel about what's happened."
Obama: "That's exactly right. And you know, a year from now I think people are going to see that we're starting to make some progress. But there's still going to be some pain out there. If I don't have this done in three years, then there's going to be a one-term proposition."