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It's the end of the American Empire as we knew it.
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There are 292 living languages in China today; if they call in our debts, those signs in Spanish as well as English will be the size of billboards. I can't use chopsticks, either. Mandarin, anyone?
Well, to be technically correct Godzilla came from Japan.
And China's MFNTS was made permanent by Clinton.
Finally, the dishonesty is being unmasked. Finally, we see just how much we're being lied to when it comes to economic policy. Finally, we see it hasn't just been Hillary Clinton lying about her role in championing NAFTA, but we see it is the entire Clinton machine.
As he prepared to embark on a trip to China, President Clinton said he supports giving China normal trading status on a permanent basis rather than annually reviewing Beijing's trade privileges.
Clinton said he wanted to avoid the fractious debate in Congress over China's most-favored-nation (MFN) status, the designation for normal trade relations, which many members of Congress oppose because of China's human-rights violations.
It's the end of the American Empire as we knew it.
Was Clinton also wrong?
In February 1998, after Hussein blocked U.N. inspectors from entering Iraq, Clinton warned: "What if he fails to comply, and we fail to act? Or we take some ambiguous third route, which gives him yet more opportunities to develop this program of weapons of mass destruction and continue to press for the release of the sanctions and continue to ignore the solemn commitments that he made? Well, he will conclude that the international community has lost its will. He will then conclude that he can go right on and do more to rebuild an arsenal of devastating destruction. And some day, some way, I guarantee you he'll use the arsenal."
He said at the time the United Nations pulled out the weapons inspectors in 1998, not to return until after Bush came to power, "there were substantial quantities of botulinum and aflatoxin, as I recall, some bioagents" in addition to some "chemical agents" such as VX and ricin that were "unaccounted for."
It's the end of the American Empire as we knew it.
You must be pretty young to think like that.
You're what... mid 20s?
I'm not that old, but even I remember reading about articles describing "The Pacific Age" as early as 1986, when many predcited that the Chinese and other Asian Tiger economies would accelerate rapidly and surpass the US in terms of economic output in the 21st century.
We were even talking about it in 1997 (Clinton) when the first Asian financial crisis took place.
Bush was hardly responsible for that. Maybe he faciliated their growth, just like Clinton and Bush Sr. did before, but he certainly wasn't ultimately responsible.
It is true that Bush's unnecessary war left little "marge de manouevre" concerning the fed interest rate policy in fighting the recession, which actually had its roots in beginning 07. We had already printed a lot of money to sell to the Chinese back then to foot the bill for the US deficit. I've got lots of hard data on that, for those who want to disagree.
While many can blame Bush for the lax oversight regarding the banks, he cannot take all of the responsibility. It was just a continuation of Clinton policies back in the late 90s when Glass-Steagel (sp?) was repealed. It took a couple of years before the recent fraud type was perfected to such outlandish greedy extremes, but even in 97 when I was in school, we were celebrating the deregulation, because for many of us, it meant lucrative careers in investment banking.
Of course, I never expected unethical behavior to take the form that it did the past 2-3 years. In 1997, it was more of a wimpy financial fraud. I got out of the business, because in order to survive and make the big bonuses, I had to be very unethical, dishonest, and continuously discredit competing teams of colleagues... no thanks. I'm A type, but I'm not as greedy as the others were. We were even dividing up the bonuses already at the beginning of the year when we had not even performed our jobs yet. That's how bad it got. We even excluded colleagues from bonuses that never had a chance to perform. It was already decided at beginning year secret Sunday bonus meetings.
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