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China: “If it is not the end of the world…”

Okay.

We admit it.

We are prone to excessive pessimism regarding the impending catastrophe facing you; to exaggeration; to hyperbole – indeed, you can even say we underestimate your ability to muddle, once again, through the dark tragedy which is about to descend on you.

The United States is not Argentina, the Dollar is not the Peso, you say.

Almost.

Read this nasty little item from the Australian site, The Age:

A high-ranking Chinese economist has put his nation’s cards on the table in the global financial poker game by effectively telling the US to fix Freddie and Fannie … or else.

“A failure of US mortgage finance companies Fannie Mae and Freddie Mac could be a catastrophe for the global financial system”, Yu Yongding, a former adviser to China’s central bank, says.

“If the US government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic,” Yu said in e-mailed answers to Bloomberg. “If it is not the end of the world, it is the end of the current international financial system.”

“Men like Yu Yongding don’t just get up one morning and say this sort of thing.” We are told by the writer.  “He is possibly the most highly accredited economist in China. A list of his positions would fill a little red book.”

Not a word this week from a single member of the elite bosses of the Party of Washington. Not a peep from the economic vandals of the Party of Wall Street.

Not a single response from The Presidency, the office of the Speaker of the House, nor from the office of the Senate Majority Leader.

Not a word of this and its implication for you and those you love from the lips of the nominee of the Party of Washington, who waxed eloquent regarding how life will profoundly change under his enlightened term in office.

He went on for forty-two minutes, we are told, yet found not ten seconds of it where he could have told the nation, “Uh, sorry. The Chinese just sent us an ultimatum: Either we fix our economy, or we are cut off from the spigot.”

Not a peep.

Let us speak frankly, so that you are clear about the stakes for you and your family, when next John McCain or Barack Obama hold one of those town meetings in your area.

There are only two choices here:

  1. Dismantle America’s Empire – withdraw from Iraq, Afghanistan, all overseas bases, pull back the fleets, recall the submarines, and stand down, or,
  2. Starve.
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