By Amy Oliver Cooke and Michael Sandoval
When it comes China, President Barack Obama’s State of the Union Speech last month was nothing more than a rhetorical exercise from the political pied piper, who, along with his supporters, believes his own words magically alter reality. He is oblivious to his own hypocrisy and frighteningly disconnected from the consequences of his policies. The Chinese probably love him for it.
Obama spoke of “American energy,” but his policies encourage reliance on unpredictable regimes like China and turn away from friendly trading partners.
Obama spoke of fairness, criticizing China for subsidized manufacturing while his policy is to heavily subsidize industry with money borrowed from China.
His references to China appeared weak in the wake of China’s strategy to influence U.S. economic and military policy and to control the world’s energy resources.
The first found the president employing one of his favorite themes of late – fairness.
“And I will not stand by when our competitors don't play by the rules. We've brought trade cases against China at nearly twice the rate as the last administration _- and it's made a difference. (Applause.) Over a thousand Americans are working today because we stopped a surge in Chinese tires. But we need to do more. It's not right when another country lets our movies, music, and software be pirated. It's not fair when foreign manufacturers have a leg up on ours only because they're heavily subsidized.
Tonight, I'm announcing the creation of a Trade Enforcement Unit that will be charged with investigating unfair trading practices in countries like China.”
Fortunately, Obama, the economic superhero, saved us from those unfairly imported Chinese tires, but he fails to recognize the hypocrisy of his criticism, which brings us to the next reference to the one Bryan Ritterby and America’s “heavily subsidized” green industry.
Paying lip service to the justifiable outcry over the $535 million taxpayer-funded Solyndra bankruptcy, Obama promised to continue spending money we don’t have by pouring tax dollars down the renewable money hole.
“Some technologies don’t pan out; some companies fail. I will not walk away from the promise of clean energy. I will not walk away from workers like Bryan. I will not cede the wind or solar or battery industry to China or Germany because we refuse to make the same commitment here.”
Wasteful and heavily subsidized at home is acceptable but considered unfair if the Chinese do it.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 29th, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 28th, 2014 | John Ransom