It needs to be said. The rescue of the Chilean miners is a smashing victory for free-market capitalism. (Full Text)
China Foreign-Exchange Reserves Jump to $2.65 TrillionBy Bloomberg News - Oct 13, 2010 3:47 AM PT: China’s foreign-exchange reserves, the world’s largest, surged by a record to $2.65 trillion at the end of September, adding fuel to complaints that the nation’s curbs on gains in the yuan are undermining the global recovery...Currency holdings rose about $194 billion in the third quarter, today’s statement from the People’s Bank of China showed. September exports were the second-highest on record at $145 billion, a separate customs bureau report showed. (Full Text)
Known and very popular cialis coupon which gives all the chance to receive a discount for a preparation which has to be available and exactly cialis coupons has been found in the distant room of this big house about which wood-grouses in the houses tell.
Chinese elders call for more freedom
By Bloomberg News | October 14, 2010: Twenty-three retired Chinese Communist Party officials, led by Mao Zedong’s former secretary, have challenged the government to improve press freedom, just days before meeting to discuss the nation’s new leadership. The group, drawn from the military, state media, and academia, accused “invisible black hands’’ of suppressing a speech last month in which Premier Wen Jiabao called for greater political openness to match the country’s economic gains. The open letter by party elders including Li Rui, Mao’s secretary, was published on the Internet.
“What right does the Central Propaganda Department have to muzzle the speech of the premier?’’ the letter said, referring to a branch of the party that focuses on ideology. “What right does it have to rob the people of our nation of their right to know what the premier said?’’
Other demands in the letter:
- Our core demand is to abolish the system of censorship in favor of a system of legal responsibility.
- There are no forbidden zones in the Party’s history. Chinese citizens have the right to know about the ruling party’s wrongdoing.
- The Internet is an important platform of exchanging information and opinions. Internet regulators shouldn’t arbitrarily delete online posts and comments, except when it really involves national secrets or infringes on personal privacy.
I only mention this because, the same guys on the WSJ Editorial Board who thought opening China to free markets would be a victory for American capitalism, should pay closer attention. I believe that liberalization of China’s political and social systems will not simply mark another victory for free markets, but will spark a second leap forward, a second explosion in social growth and world influence. Unleashing the full talent and energy of the Chinese people will be something to watch. This is China’s real wealth still being held in reserve. Just wait until they start spending those trillions of dollars they have in reserve on developing their own people, their own institutions and their own 21st-century infrastructure. If you think the Chinese are becoming a world power, just wait.
And, since world influence is not a commodity that can be produced or grown when more is needed, China’s growing influence will be at America’s expense.
Finally, notice that moves towards liberalization in China come when the US is moving in exactly the opposite direction. As China looks inward and outward, Americans are spending (wasting) our time looking inward, liking what we see there less each day. But rather than fixing it, we engage in schoolyard-level name calling as we allow dimwitted bully-boys and bully-girls call the tune.
As China moves forward, in orderly and measured ways, Americans can’t seem to wait to get back to the “good ole days” and the “good ole ways.” China chases tomorrow while we chase yesterday.
And finally, this from Politico:
I’ve been getting a lot of flack lately for ragging on Obama’s lack of performance -- to put it mildly. But here we are, and anyone who disputes it is just kidding themselves. I’m done kidding myself. The humor went out of me about 6 months ago.
I’ve been asked if I’m going to vote this November. Of course I will vote. The only difference is from now on I will no longer vote FOR anyone or anything. Because the bastards never deliver. Instead I will vote AGAINST those candidates and policies I fear the most. It’s the only sane thing to do. By saying “Yes” to a particular candidate or proposition, I am really voting NO against the other choice or choices. It’s the only sane way to participate in our democracy today. I call it “Defensive Voting.”
That’s it for today. Be careful out there.
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