Super Obama - What's next?

[WhiskeyGirl]

Barack Obama faces potential Chinese death trap

Newly emboldened by his successes with health care reform and nuclear disarmament, what next for Super-Obama?

The upshot is that financial reform in the US ought to be relatively easy. With much vital detail yet to be thrashed out, this is unfortunately proving far from the case. Broadly speaking, America seems to go along with the reform agenda set out by the G20, though signs of real engagement are still absent.

The US Treasury Secretary, Tim Geithner, nevertheless promises to be bound by the Basel Committee's new rules on capital and liquidity, and he seems too to be in favour of the idea of a universal banking levy, internationally determined but nationally applied.

Higher taxes.

Exactly where is this money going?  Main Street?

more here - http://www.telegraph.co.uk/finance/globalbusiness/7536025/Barack-Obama-faces-potential-Chinese-death-trap.html

from the comments -

China is not the enemy. The world banking community, modeled on the Bank of England 1694, that creates money substitutes in the form of promissory notes, indebting the citizenry while offering nothing in consideration except bookkeeping services (so they can accurately calculate their interest on this monopoly money they create ex nihilo!)---that's the real enemy of mankind! Change that system of economic feudalism and we all stand a chance. Leave it in place and we become further slaves to a financial elite.

China just used the money system to exploit corporate competition and global trade in order to stop the world from exploiting them as an emerging market. Had they done nothing, they would be where Greece is now. Instead, they have a billion people emerging from poverty and the manufacturing capacity to meet all their needs. China is heading back to Middle Kingdom status, where they make everything they want and want nothing to do with the rest of the world. All they need do now is instigate a trade war.

President Obama is irrelevant to this, it's entirely out of his control. In the long run, it might even make him look good.

Unfortunately, the Obama Administration has NO plans to attack America's gigantic deficit. If anything, every program he submits to Congress carries with it a price tag that plunges the country even deeper in debt.

It is this massive $12.8 trillion debt, of which China is the biggest holder, that leaves the Yanks a virtual vassal of the Chinese. Upset China too much, and they could literally destroy the American economy overnight!

Super Obama? You've got to be kidding.

Mighty Mouse has a better chance of saving America than Obama does. And even Mighty Mouse will need the help of Superman, Batman, Wonder Woman and Captain America.

America doesn't understand basic budget principles. When you spend more than you earn, eventually you will be in trouble. America is already bankrupt.

And soon China - and its other creditors - will come calling. What happens to you when you can't pay your mortgage? The bank comes and takes your house. What happens when America can't make its payments? China comes and takes American land and assets. It's that simple.

And the American people? Well, how does the bank treat you if you're thrown out of your house?