Archive for the ‘loan’ Category

Biggest Beneficiary of U.S. Economic Stimulus?

January 30, 2009

Name one state, agency or program that will get more than $300 Billion from the $800+ Billion economic stimulus.

That would be China.  Nothing and nobody comes close.

China will reap over $300 Billion just by fincnacing the stimulus.  That will be U.S. dollars flowing from Americans to China as interest on the loan.

We’d be be better off borrowing from our credit cards.

A bank employee counts US dollar bank notes. The euro fell sharply ...

When America borrows, who pays?  First, I guess, and correct me if I’m wrong, China lends the money to the U.S.

China already “owns” as of October, 652.9 billion dollars in US Treasury bonds.

And China won’t just get the money: China will gain further in its already pervasive importance in the world.

And China may call the shots.

Just today, China said it didn’t like the “Buy American” provisions in the economic stimulus.

What else doesn’t China like?

When one country owes another country so much money, over $1 Trillion, what will happen?  We don’t know, because this has never happened before.

Like a Mafia, Boss, China will own the United States.  And, if real estate trends are any guide, China will also buy up any remaining valuable U.S. soil.

China will have all the money.  And in some places, money is power.

In the business deal called the economic stimulus, I’d rather be Chinese than American….

John E. Carey
Wakefield Chapel, Virginia

A Chinese customer shows off a handfull of hundred-yuan notes ...

The latest irritants to China from America are a “buy American” provision attached to White House-backed stimulus legislation moving through Congress and criticism of China’s currency policies by Vice President Joe Biden and Treasury Secretary Timothy Geithner….See:
China Starts to Set Limits On Its Biggest Borrower: Barack Obama and The U.S.

Related:
Economic Stimulus About “Soul of America”

GM’s Failure Would Be A World of Hurt

December 7, 2008
As the U.S. automaker’s revenue has fallen in the U.S., forcing it to turn to the government for a bailout, international operations have remained profitable.
By Ken Bensinger
The Los Angeles Times
December 7, 2008
Nearly three-fifths of the employees at General Motors Corp. work for a company that makes cars that are admired, popular and profitable.

They just don’t work in the United States.

GM has a bigger presence outside the U.S. than in it, employs more people in other countries than here, and actually makes money selling cars everywhere from Sao Paulo to Shanghai. Its U.S. revenue has sunk 24% in the last three full years, but in the rest of the world, GM can boast a 28% increase.

Now, as lawmakers mull whether to provide billions of dollars in loans to keep the Detroit-based company from collapse, GM’s global reach has become in many ways its most overlooked asset and a key to its ultimate survival.

“A major argument for keeping GM out of bankruptcy is the strength of its foreign footprint,” said Kimberly Rodriguez, a partner at accounting and management consulting firm Grant Thornton, which works with auto companies….

Related:
Get the Feeling Russia and China Are Slicing Up The World and the U.S. Will Be Left Out?

GM's Opel plant 
.
IN GERMANY: An employee works on an assembly line at GM subsidiary Opel in ƒsBochum. Of the company’s 252,000 workers, 152,000 work outside the United States. Photo: Volker Hartmann, AFP, Getty Images

Read the rest:
http://www.latimes.com/business/la-fi-gmworl
d7-2008dec07,0,5011709.story