Friday, September 30, 2011

General Electric Gives China Technology for Passenger Plane

The Chinese are throwing their weight around and demanding American companies share proprietary technology with Chinese companies. These companies ultimately will be forced to share this technology with the government. General Electric is moving their technology there as fast as they can.

I have many Chinese friends, both here and in China. Talking with them is a pleasure and I respect them very much. But this does not mean I’m a fan of strong arm tactics.

The idea that GE should give up their proprietary technology to help the Chinese build a large passenger plane is horrendous. Our balance of payments would really be much worse if we couldn't count Boeing sales
I guess GE really isn't an American company anymore. The CEO, Jeff Immelt, and his buddies don't care what happens to our country. If the Obama administration hasn't stopped this then it's another bad mark against the administration. Oh I forgot, Obama made  Immelt the chair of a commission to increase employment. But he sure won't increase employment in Washington state. This is an arrow pointed right at Boeing.

The Chinese would never let one of their companies do this. Immelt isn't a patriotic American.Capitalism is an excuse for betraying this country

 In an earlier blog I talked about Chinese history (Zhongguo lishi). This move is no surprise to those of us who read a book called To Change China: Western Advisors in China by Jonathan Spence. He described how the Jesuits in the Ming, then Qing, Dynasty shared their advanced knowledge of astronomy with the Emperor, then stood there waiting, hoping they could proselytize in China. (Back then predictions on where celestial objects would be was important to the Emperor's face). The Emperor then looked at the priest and said, "Why are you standing there?" The priest asked what was in it for the Jesuits. The Emperor said, “Thanks a lot."

This drama played out through Chinese history and culminated with the ouster of the Russian advisors when they were no longer essential to the communist revolution and the rebuilding of China

 (At this time, I'd like to point out to my friends who are Chinese that this commentary is not an attack on China, merely an observation. An earlier blog of mine talks about the importance of Chinese patriotism.)

So the idea that technology would be taken over is a logical expectation given Chinese history. If companies don't want to sell products in China, they can go home. Since most Americans couldn't find China on a map, it is to be expected that these corporate barons wouldn't know anything about Chinese history. America is an insular land where the only other languages besides English are spoken by the children of immigrants.

More and more companies that used to be described as American moved their operations to China because the CEOs wanted bigger bonuses and the less they paid employees the more they got in their pay envelope. They didn't care whether a lot of Americans wouldn't have a job, they just wanted more money.

This is pretty close to crossing the Rubicon. Have American companies lost all that once made them American corporations? My answer is yes.

A few years ago, a spy for Israel gave secrets to them. Many Americans looked on him as a traitor.

So just as they moved American jobs overseas in the companies’ determination to make money at any cost, they now intend to share our national secrets. If our government lets this happen it’s because we have become the world’s biggest debtor. You can’t spit in the face of your banker.

Sunday, September 25, 2011

Summers, Geithner and Iago

Like many disillusioned voters across the country, I voted for Obama. Looking back, I'm not sure what I expected of a man who had never managed a city, county or state. What I do know is that all my hopes were dashed when Obama ushered Larry Summers and Tim Geithner in to run his economic program.

In addition to saying that women can't do science, Summers had worked very hard to break up the wall Roosevelt had created between banks that take deposits and banks that are trading houses. With Geithner's help he was successful in eliminating one of the safeguards we had against abuse in our financial system.

It's clear now that Obama didn't understand economics. He was, in essence, a tabula rasa. But he had a high level  of  self-confidence and considered himself a quick study. He surrounded himself with a lot of academics who'd never had to face the real world.

Larry Summers wanted to take care of all his rich friends and bankers. Instead of helping Main Street the money went to Wall Street. He and Geithner saved a lot of fortunes created from running irresponsible banks. Some banks loaned out 30 times the amount of money they had in reserve. But none of them suffered. The guys who ran Citibank, Merrill Lynch, and others walked away with their golden parachutes, probably looking for a bank they could trust with their ill-gotten gains.

This was the time that Obama could have stood up for the powerless. He could have repeated what William Jennings Bryan said: "thou shalt not crucify mankind on a cross of gold." Instead he sat back and let Summers help his banker friends rape the American people. Othello believed everything that Iago said.

Why did you and I forget any analytical standards and vote in a man who didn't understand economics and clearly couldn't judge who is qualified to run any kind of populist economic program. Summers made sure that insightful people like Paul Volcker were not allowed in to share their opinions. The foxes were running the hen house
 I'm no longer looking for the great new thing. I want a president who's run something and understands what qualities you should look for in your subordinates. If I have to hold my nose and live in a country run by Rick Perry, it's all Obama's fault.

Tuesday, September 6, 2011

Congress, Corruption and Kidneys

A Congresswoman's husband ran a kidney transplant operation that the federal government wanted to shut down because a number of kidney transplants had failed. This seemed to be the federal government doing its job.
But Democratic representative Shirley Berkley forced the government to back down. The Nevada Congresswoman worked diligently to protect her husband's income.
This is not unusual. And it happens on both sides of the aisle. No matter which party the legislator belongs to their number one concern is increasing family wealth.
Given the sorry state of affairs, who would put their trust in this Congress to solve the nation's ills?
As an independent, my view my view is not to trust any of them. Sen. Harry Reid, also of Nevada, has enriched his family remarkably well through his position in the Senate. Both parties have numerous examples of pure unmitigated greed in their ranks.
Now we are expecting these self-serving greedy politicians to redress the balance in our society, between those who have and those who have not. We expect them to reduce the federal deficit and provide jobs for the unfortunate Americans who are out of work or underemployed.
Neither party cares about corruption within its ranks. Both parties do favors for the rich. If you think these self-centered people will put America first, I figure you still believe in the Easter Bunny.