Greece, China, and Iraq: The High Price of Dimwitted and Feckless Leadership

"China and Greece Sign Deals Worth $5bn during Li Visit" -- the BBC headline says it all

“China and Greece Sign Deals Worth $5bn during Li Visit” — the BBC headline says it all

b. traven

A dimwit president and his neo conservative handlers have left a feckless president and his neo liberal handlers a conflicted, imponderable, and explosive world we now live in. Obama, with the same nationalistic hubris of his predecessor has pivoted our massive sea power to the Pacific and Far East to thwart what he sees as China’s expansionism. Mindless, of course, of the fact that China is the second largest owner of our debt and could bring our economy down with a simple decision to bail out.

Meanwhile the U.S. dominated International Monetary Fund and World Bank have wreaked havoc on everyday Greek citizens with their usual crushing austerity programs and forced the Greeks to sell off their assets to foreign investors.  At this time China has no real foothold in Europe except for trade but the wily Chinese have made their pivot into Europe not militarily, like the U.S., but economically to buy up key Greek national assets and to create jobs for the citizenry.

From an international news source:

              Greece plays host to Chinese visit

Over in Greece expectation is mounting ahead of a crucial visit to the country by Chinese premier Li Keqiang.

              Helena Smith, our correspondent reports.

This is the first time since the start of the economic crisis that Greece will play host to Chinese officials. And with investments the name of the game it is going all out with the red carpet treatment. From early this morning the Greek parliament has been flying a large Chinese flag visible to passers by in Syntagma square. Chinese premier Li Keqiang will kick off the three-day official tour holding talks this afternoon with Antonis Samaras his Greek counterpart.

The assets under discussion are sea port facilities and land systems. So while Obama is spending our money on pivoting our military to the Pacific, which will provide at best psychological support to our dwindling allies there, China is establishing a real beachhead in Europe through their Greek investments.

Meanwhile, in the Middle East Obama is about to pay the price for his false claim that he chose to withdraw our troops from Iraq rather than to blame Bush for his agreement with Iraq that in essence allowed them to kick us out over the status of forces agreement. So the entire Bush-Obama tragedy called “Mission Accomplished” has blown up into a catastrophe for the Iraqi people and may reconfigure and radicalize the entire Middle East.

With absolutely no vision or strength of purpose Obama is again letting politics rather than leadership drive his policy into intervening in a real civil war by taking sides. His weak talk of encouraging a “unified” government in Iraq comes far too late in the game. It is like trying to glue together the broken antique crystal vase you inherited and then expecting top dollar when you sell it. Can’t be done.

2 thoughts on “Greece, China, and Iraq: The High Price of Dimwitted and Feckless Leadership

  1. “… China is the second largest owner of our debt and could bring our economy down with a simple decision to bail out.”

    China hasn’t shown up for a Treasury bill auction in over a year, and has instead gone on a global buying spree seeking to amass tangible physical resources instead of shaky U.S. debt. Russia has also dumped a load of their treasury bill assets in order to minimize their exposure to a collapsing U.S. dollar and hyper-politicized U.S. sanctions for whatever Russia does in its national interests that Washington claims not to like very much. Most interesting of all, the Federal Reserve has taken to laundering its own “quantitative easing” — i.e., printing of money for near-zero-interest gifts to speculating “banks” — by first sending 40+billions of dollars worth of Treasury bills to Belgium, for example, so that Belgium could then “buy” these treasury bills back from the Fed. This carnival-league scam means, naturally, that the Fed doesn’t want to openly funnel more free borrowed money to America’s insolvent banks because this would make foreign buyers of US debt unwilling to risk buying any more. This farcical shell-game gambit doesn’t seem to have fooled anyone but the U.S. taxpaying workers who will ultimately pay the price for their government’s rapacious irresponsibility.

    Of course, the U.S. Social Security Trust Fund also owns a huge amount of treasury-bill debt and so the inevitable “austerity” bail-out after the next financial crash will no-doubt claim that New Deal retirement program as another long-intended victim. Anything to keep the permanent war machine gobbling up every last penny of discretionary income that might otherwise go to alleviating the poverty and misery increasing among so many millions of Americans today.

    • Correction. The ostensible U.S. treasury bill purchase by Belgium amounted to 141.2 billion dollars, not the mere 4o+ billion that I quoted above. For its part, China doesn’t have to go through bidding by Wall Street brokers anymore, but can now get its treasuries directly and more cheaply from its deadbeat addict U.S. junkie client. Sick and tired of U.S. politicized “sanctions,” Russia now does barter deals with Iran and conducts transactions — like with China — in rubles and ren-min-bi currencies. If the U.S. government thinks that it has anyone but its own gullible population fooled about its dangerous war-induced insolvency, the awakening will come as an even ruder shock than the ones in 1929 and 2008.

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