CHINA HAS PICKETED OUR POCKET AND STOLE OUR WEALTH NOW WHAT? episode artwork

EPISODE · Mar 15, 2023 · 46 MIN

CHINA HAS PICKETED OUR POCKET AND STOLE OUR WEALTH NOW WHAT?

from The American Enterprise Manifesto: My America's Vision of Peace and Nonviolence for Humanism · host Jerry Rhoads

CHINA HAS PICKETED OUR POCKET NOW WHAT? That pocket was deep ... now it is depleted to the point of excess current debt ($32 trillion exceeding the debt ceiling the 78th time) and unrecorded onligations for Medicare, Medicaid, Social Security, Entitlements, Government pensions, Accrued interest) of $182 trillion or a total of $211 total debt versus national assets of $181 trillion per the www.usdebtclock.org.  The short term dbt exceeds annual GDP of $28 trillion by 114% and national debt exceed national assets by 115%.  Under water and sinking with the negative imbalance of trade of $1 trillion loss of profits and cash flow of deficit spending of $7 trillion annually, with proposed new taxes proposed by the Biden Administratiion of $5.4 trillion per year exceeding the current national income tax revenue of $5 trillion.  Doubling the burden on taxpayers while the shortfall continues to be borrowed money (T Bills and the US Treasury printing currency to pay for the negative imbalance of trade.  China now owns us with the $1.7 trillion debt instruments.  The South Seas consortium of Japan, Sourth Korea, India, Indochina, Africa hold the majority of $7 trillion of total current debt.   Underlying this loss of GDP and cash flow every year (since World War II) to our competitors, listed above, along with a total of 30 countries that have a trade hold on USA.  All this with the Federal Reserve increasing the cost of debt 5% that becomes 10% prime and 15% in the worldwide Libor rate of %20 increasing the annural interest of $600 trillion to $1 trillion now and $7 trillion in five years.  All if this is being hidden from taxpayers by have a cash budget as our financial records, that includes excessive borrowing as cash recreipts to be able to balance a cooked budget, with no accruals for current debt and long term debt.  No govermental agency in America uses GAAP generally accepted accounting principles to show the nationfinancial negative cash flow, loss on GDP, loss on imbalance of trade and loss due to deficit spending and interest on current and long-term debt of $211 trillion.   So, in effect every country that exports more to the USA than we export to them is picking our shrinking ability to borrow and print fiat currency.  Then What? In business you fire management and cut overhead to the breakeven point to make a profit and create cash flow to pay down the secured debt for Medicare, Medicaid and Social Security owed to the elderly ... then perform a hair cut to the current debt holders of those that are owed T Bills for imbalance of trade. Then redo the trade agreements or arrangements that have the supplier pay shipping, unloading and distributing the products to the USA wholesalers and retailers.  And charge them for shelf space and marketing of their products to the American consumer.  Not tariffs on the imports, nor sanctions on the shippers, nor embargos on trade for nationalizing the problem ... that won't work soon enough.  Okay, wise guy China will just raise their prices.  China has employed the USA as the human capital it takes to get their products (stolen from us) generating their GDP and ability to pay its increasing payroll (no longer child forced labor) and support its 7,000 cargo ships, steel mills making 10,000 to 18,000 20 to 40 foot containers, loaded on Chnesee container ships that China is charging its worldwide customers.  A cost to USA of $1.9 trillion shipping and distribution costs to our leading consumer markets of the world.  For examle, in Shanghi, China's largest exporting port, 90% to USA has a 14,000 acre storage plot for using their robotic transport, loading and unloadking of the hundreds of thousands of containers to the thousands of container ships.  To unpick the pockets of imbalance of trade the USA must turn the tables on this now. How

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CHINA HAS PICKETED OUR POCKET AND STOLE OUR WEALTH NOW WHAT?

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