GWB swaggers as China's piggy bank grows

With more than $1,200 billion in U.S. dollars, T-bills and securities in its piggy bank, China has been losing money as the value of the dollar has fallen against the Euro………EXERPTED … by Martin Walker …UPI Editor Emeritus …Washington (UPI) May 23, 2007
This helps explain that startling announcement last week that China is planning to launch a state investment fund that would seek better returns on its money. It plans to start by investing in stocks and private capital funds like the Blackstone group, which this week announced the infusion of $3 billion of China's massive hoard of cash.
Put this into perspective. At current market values, China's $300 billion fund could buy the whole of Wal-Mart, and still have enough left over to buy the Big Three American car makers: Ford, GM and Chrysler. Or it could buy British oil giant BP and still have enough left over to buy Germany's Siemens. If China wanted to put all its $1.2 trillion into stocks, it could buy Exxon-Mobil, Shell and BP and still have enough left to buy Wal-Mart.
Or China could put some of the money into its defense budget, buy aircraft carriers and challenge the traditional U.S. dominance of the seas. The standard U.S. Nimitz-style carriers cost around $6 billion each, and America's next generation CVN-21 carriers will cost about double that sum. Then there will be the cost of the warplanes, training the crews, and the other surface vessels in the standard task force that support and protect the carrier.
So a fleet of 10 state-of-the-art CVN-21 carriers with their warplane, crew and task force support could be had for about the $300 billion that China is planning to invest -- not counting the savings that Chinese manufacturing techniques and labor costs would bring. So China could in theory afford to challenge the traditional U.S. naval dominance in the Pacific Ocean.

While George W Bush pontificates, struts, stammers, stutters, swaggers and prances on the world stage China’s “piggy-bank” grows exponentially.

Our self-anointed emperor wears no clothes, but “we” – that’s you and me – remain too blind to see, too afraid to speak and too tuned solely to the “corporate” controlled mass media propaganda.

America’s current economy is nothing more than an empty shell filled with nothing more than empty self-serving platitudes propagated by “corporate” controlled mass media.

America currently finds itself alone in the world devoid of others who feel we speak the truth or walk our talk. Our mantra to the world is … “do only as we say, not as we do” … and don’t dare to tread on us for we will immediately become your executioner.

Swaggering and blustering will not resolve the issues facing the whole of mankind only a willingness to stop, look and listen to the pulse of the whole of mankind will resolve the plethora of issues before us.