Let's Make a Deal! How Much for the Colliseum?

As we Tweeted yesterday about Greece, maybe they should sell themselves to China to get out of their yawning fiscal crisis.  Tongue was in cheek, of course, but I've seen several other commentaries/Tweets suggesting something similar for Greece - and now for Italy. 

All snide comments and jokes aside, we have to stop, take a deep breath and take note of the time warp in which China has come to dominate the world.  Yes, they are dominating and we need to acknowledge this fact: In Africa (for minerals and natural resources), in South America (for the same), throughout the rest of Asia (to the discomfort of India, Japan, Australia, South Korea, Vietnam and others) and in the United States. 

Again, yes -- we must acknowledge this fact.  Whether it is exports to the US, owning our US Treasury's and GSE debt, hacking the living hell out of our corporations and US government websites and sizing up ways in which to dominate us on the next battlefield.  The economic growth China has experienced and continues to experience is stunning (see the chart below as a great overview - biggest surprise: How slowly India is moving up the list).

Where is the push back from the Obama Administration?  Where is the grand plan to deal with ultimate result of twenty years of globalization?  there is none.  And this is beyond worrying.   It is life altering and we must acknowledge it.  The world has literally turned upside down.  And we suspect it will continue turning over and over again.





Source: The Economist

 

China Offers to Buy Greek Debt

Chinese Premier Wen Jiabou and Greek Prime Minister George Papandreou

Brilliant foreign policy.  Brilliant economic policy.  And there is nothing the U.S. or the EU can do to counter this (or want to do).  The message to the rest of the world?  China is a superpower, both economically and politically.  Soon, militariliy, too.
http://english.aljazeera.net/business/2010/10/2010102195730121409.html

Americans Again Under Heightened Threat of Terror - in Europe...

We thought the drone attacks in Pakistan last week was enough to cause the terrorists from striking in Europe in the same form and fashion as they did in Mumbai.  We were wrong.  State Department putting high alert out for US tourists in Europe - stay away from areas typically frequented by tourists.
http://www.foxnews.com/politics/2010/10/02/source-issue-travel-warning-public-places-europe/