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Forget Al Qaeda - It's China

We've spent trillions the past 9 years in the name of Al Qaeda - whether it's hiring thousands of TSA workers to frisk passengers at airports or fighting two wars, while at the same time, the biggest threat to America's future (other than reality television) continues to grow unabated with the blessing of the Obama Adminstration - and the Bush Administration before that. That threat - China. In 1992 Ross Perot warned Americans about that giant sucking sound coming from Mexico, as in jobs would be sucked into Mexico due to the impending approval of NAFTA. Perot was half right. 20 years later the giant sucking sound is coming from China - where American companies like Apple are using the world's cheapest labor to build products that Americans would have built 20 years ago. Apple's contractor in China has over 400,000 on the payroll, many of whom are busy making Apple's latest creation, the iPad. Why China? Because China is manipulating its currency, which allows companies like Apple to make their products for a fraction of what they would cost if made in the U.S., or even in Mexico. China artificially devalues their money, which makes everything they produce 30% to 40% cheaper than it should be. In July China's total trade surplus was $28 Billion. Can you guess how much of that su... Read More

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