Thank you war mongers...we are 1.3 Trillion in debt to China...I guess this would be a good reason to declare that we 'must establish the North American Union' to save ourselves!!
You’re incorrect on both counts: First, Federal social and entitlement
spending is the cause of the exploding Federal debt.
“The BIG CULPRIT … is SOCIAL SPENDING,
which grew 14 times faster than the
economy - - to a new high - - more than eating up the long-term decline of
defense spending …
National security was the prime reason our founding forefathers
formed a federal government. .. defense spending, which in 2001 had
dropped to 3.7% of the economy's national income, below where it started -
following a 5-decade downward slope. .. 2003-06 increased to 4.9% of national
income as shown in the graphic. This multi-decade declining defense ratio
camouflaged a new direction for government - - surging social programs and
spending.
This trend calls into question our nation's focus and readiness to detect
and deter major national security challenges ...” http://mwhodges.home...
Second, a trade/economic war with China would (at least in the short-term) realign
some of the forces pushing us toward integration with Mexico. It would at least decrease the need for the
expansion of TTC/NAFTA Highway, as both the ability to consume and the need to
produce and ship goods would likely be substantially decreased. Also it would probably create a bunker-like
atmosphere.
The southernmost U.S. portion is 'also known as' TTC-35 in Texas. And there are (or were) maps on the NASCO website. From the DOT website:
“REMARKS
FOR
THE HONORABLE NORMAN Y. MINETA
SECRETARY OF TRANSPORTATION
NORTH AMERICA’S SUPERHIGHWAY COALITION TRANSPORTATION FORUM
FORT WORTH, TX
APRIL 30, 2004
8:20 AM
Thank
you, Congressman Burgess, for that kind introduction. As a freshman Member of
Congress, you are doing a terrific job, especially on the Transportation and
Infrastructure Committee…
It’s always a pleasure to travel to the Lone Star State...
There are, however, some things that we still need to do in the United States
to fulfill our obligations under the NAFTA treaty. One of them is to finally
open the market between Mexico and the United States for trucking and busing.
A lawsuit has blocked implementation of this country’s commitment to allow truck travel across our borders, ...
And to our friends from Mexico who are here today, I say, “Welcome, and get
ready.” Opening the border is of mutual benefit...
I know that the members of NASCO are
gearing up. And your efforts are very important not only locally, but also to
the national – and global – economies.
Indeed, I want to congratulate NASCO
President Sandy Jacobs and the Superhighway Coalition for your leadership. You
recognized the promise of this expanding trade relationship with our NAFTA
partners early on.
You also recognized that the success of the NAFTA relationship depends on
mobility – on the movement of people, of products, and of capital across
borders.
The people in this room have vision... aggressive plans to develop the NASCO trade corridor – this vital
artery in our national transportation system through which so much of the NAFTA
traffic flows.
It flows across our nation’s busiest southern border crossing in Laredo; over North America’s busiest
commercial crossing, the Ambassador
Bridge in Detroit; and through Duluth,
and Pembina, North Dakota, and all
the places in between.
Like the Siouxland.
Tuesday, I met with representatives of the Siouxland Chamber of Commerce who
were in Washington, D.C. from Iowa, Nebraska, and South Dakota. They shared
some of their plans along the I-29
portion of the NASCO corridor...
The Bush Administration’s reauthorization bill – the Safe, Accountable,
Flexible, and Efficient Transportation Equity Act (or SAFETEA) – makes
fundamental changes in the way America invests in its transportation
infrastructure, changes that can help you develop your corridor…
We split the Federal Highway Administration’s
Corridors and Borders Program and refocused the new programs on planning.
The Corridors program is designed to
encourage multi-state and multi-modal planning. The Borders program will encourage bi-national planning to enhance
improvements at our land border crossings...
Our bill will allow you to better leverage your transportation dollars by
taking advantage of innovative financing and public-private partnership options.
There is an example right here in Texas that I use to illustrate the principles
of intermodalism and innovative financing – the Trans-Texas Corridor…”
A bit from the NASCO website, FWIW:
“For over ten years, NASCO has been developing a strong coalition of cities,
counties, states, Canadian provinces, and private sector companies to lobby for
federal funding and promote a "SuperCorridor" to address the
transportation, trade and security needs of the three NAFTA nations.
We have assisted in the lobbying
effort to bring hundreds of millions of dollars to the NASCO I-35 Corridor,
resulting in High Priority Corridor status for I-35 in 1995 under the
Intermodal Surface Transportation Efficiency Act (ISTEA). In addition, we
successfully assisted in lobbying for the creation of two new categories under
the Transportation Act of the 21st Century (TEA-21) – the National Corridor
Planning & Development Program and the Coordinated Border
Infrastructure Program.
NASCO also successfully lobbied to
take the Highway Trust fund "off-budget" which resulted in increased
transportation formula funding for NASCO's corridor states.
NASCO has received $2.5 million
in Congressional funding from the United States Department of Transportation
(USDOT) for the development of a technology and tracking project. The
project will have a team approach, using members of NASCO as the primary
participants in the project, to the extent possible. NASCO believes the
deployment of a modern information system will reduce the cost, improve the
efficiency, reduce trade-related congestion, and enhance security of
cross-border and corridor information, trade and traffic.
The NASCO "SuperCorridor
Caucus" was formed on Capitol Hill to promote corridor development and to
help secure NASCO legislative initiatives in both the authorization and
appropriation processes.
We continue to
be recognized as the strongest International Trade Corridor Coalition on
Capitol Hill, and we are the only Corridor Coalition with true international
representation from the three NAFTA nations.”
Really, where is it? I have driven on I-35 quite frequently and have not seen any indication of such a thing.
Besides (I really wish I would have kept this article), I read recently that Wharton County withdrew itself from some organization that supports the TTC. Last time I checked, I-35 does not traverse Wharton County.
See? The Conspiros can't even coordinate their fantasies. Sad.
Tiffany Melvin, executive director of North America's Supercorridor (NASCO) Coalition, said the development of the I-35 corridor as "the world's first international, multi-modal transportation system" is needed to accommodate freight traffic resulting from the massive swell of trade sweeping in from Mexico as a result of the North American Free Trade Agreement (NAFTA).
"We are literally facing a trade tsunami and U.S., Mexico and Canadian infrastructure is unable to handle the burden," she told Oklahoma lawmakers recently in justification of NASCO's designs.
A patriot must always be ready to defend his country against his government.
Author:
I agree with the tagline; that is why you will see a lot less of Unsane from January on. I will be answering the call, as it were.
Now, seriously, I-35 doesn't traverse Wharton County, yet they have aired reservations about the TTC going through there. So, where the hell IS this thing???
unsane--in spite of our differences-- on this nau issue, I am sorry to hear you will be cutting back on your contribution. You present logical arguments and for the most part are a reasonable debater. "For the most part", is not an insult--I feel most of us have issues and moments where the fervor of our beliefs causes us to become "fiery?? in our rebuttals.
I truly wish I were younger and could help you in your efforts.
PS Hopefully when you have fulfilled your next call-you will come back to a flat tax system.
Sadly, misterbill, I am not holding my breath on returning to a flat-tax America after my tour of duty. That being said, I am still working to make it happen, the old-fashioned way...well, via e-mails to Congress, anyways...
I shall never fear free trade, for I will always have faith in the United States and its people. My short time on earth has shown me that so long as the government doesn't screw things up and leaves people to their own devices - they will prevail. Remember the late 1980s when the United States was going to be run over by the Japanese economic juggernaut? What happened? The opposite. So what if during my run today I saw many manhole covers on the street made in India? This country is still innovating and inventing many other things like no other on earth, and will continue to do so.
"I shall never fear free trade, for I will always have faith in the United States and its people."
Interesting. I assuming that by that statement you do not have faith in other countries and their trade practices. So, how do think the US should remedy unfair trade practices?
If conservatives are RIGHT, then liberals must be WRONG. Thompson/Rice
Other countries with unfair trade practices always wind up screwing themselves. Take Japan. Why else does the Japanese consumer pay through the nose for basic food items, for one example? Simple. The farmers of Japan have zero incentive to lower their prices. Why should they? They have a total monopoly on the markets there.
Or, look at the Europeans and all they do to protect their jobs. ALl that has succeeded in doing is prevented people from getting hired, which leads to things like persistent unemployment in nations like France.
"you do not have faith in other countries and their trade practices"...where did I say that? No, specifically, where did I say that?
Help me out here, as I am geographically challenged. This EVIL highway which is supposed to destroy this great republic is supposed to be built on I-35, yet Wharton County recently aired its reservations about the TTC based on more mundane right-of-way concerns...yet every time I check a map, I-35 does not traverse Wharton County.
Now, where is this thing?
Is it asking too much for you Conspiros to get on the same freakin page???
(You think China is really going out of its way to piss off its biggest and best customer? Sure they are. If they are, they are dumber than I could have ever imagined. Reference the Austrian wineries' experience when one of them decided to make wine extra sweet by cheating with antifreeze, back in 1985. Not a good move.)
Seriously, China isn't anywhere near the G-7, yet it owns $1.3 TRILLION of debt? Please. If their entire economy is much bigger than that, I'll be surprised. It's growing fast, but it isn't "there" yet.
I won't need reminding the next time you throw in a little bit of sarcasm.
Why is it so hard to believe China's accounts receivable worldwide is near a Trillion dollars? Though most of the paper they hold (I don't mean real paper, in case you're sifting for sarcasm again) is American, the rest of the world also is in debt to them.
Are you therefore telling me that China plunged ALL of that into U.S. Treasuries?
Now, if that isn't a piss-poor investment strategy, I do not know what is.
And now, on top of that already full plate, you say that "the rest of the world is in debt to them", which I can only translate as "they own the debt of every nation on earth"?
Hmmm. Wouldn't that loft them ahead of Japan as the world's largest creditor nation? It would. Which would be nothing short of an economic MIRACLE, as Japan's economy is far and away MUCH LARGER than China's.
OK, I'm not saying EVERY world nation is in debt to them. Bless your nitpicking heart. Your addiction to absolute tedium is a fine evasive maneuver, but it's counter instructive.
Regardless of which size shirt you wear, it's always stuffed.
'That leaves a little over $4 trillion in public hands. The biggest chunk (about 25 percent of the $8.5 trillion total) is held by foreign governments. Japan tops the list (with $644 billion), followed by China ($350 billion), United Kingdom ($239 billion) and oil exporting countries ($100 billion).'"
Wow! China holds $350 BILLION in debt? WE ARE SO DOOMED!!! (Say, why aren't you guys all in panic mode over Japan? Oh, I forgot...that was a 1980s thing.)
It's funny how the people who cry and whine the loudest over foreign ownership of debt perhaps never ever considered the possibility of buying their very own pieces of it for themselves.
Why do you think we are "doomed"? I certainly don't think debt to another nation is necessarily the stuff of which doomsday is made.
Your comment that "WE ARE SO DOOMED" is a bit melodramatic, isn't it? I'm not in a panic over it because the economy has functioned well for years with outstanding foreign debt. Where have you been?
The $1.3 trillion number that our Conspiro points to above are more than likely currency reserves. It would make sense for China to have those currency reserves, as they peg the RMB to the dollar as part of a "basket" of currencies.
Hmmmm...I wonder if the Hong Kong dollar is in that currency basket? There would be much irony there if so.
Editor at Large
Comments Policy
You’re incorrect on both
August 7, 2007 - 22:29 ET by Ten7sYou’re incorrect on both counts: First, Federal social and entitlement
spending is the cause of the exploding Federal debt.
Second, a trade/economic war with China would (at least in the short-term) realign
some of the forces pushing us toward integration with Mexico. It would at least decrease the need for the
expansion of TTC/NAFTA Highway, as both the ability to consume and the need to
produce and ship goods would likely be substantially decreased. Also it would probably create a bunker-like
atmosphere.
Simple question, part II
August 7, 2007 - 23:31 ET by UnsaneCan someone please tell me where this "NAFTA Superhighway" can be found?
Res tantum valet quantum vendi potest.
DOT - NASCO -NAFTA Highway
August 8, 2007 - 02:02 ET by Ten7sThe southernmost U.S. portion is 'also known as' TTC-35 in Texas. And there are (or were) maps on the NASCO website. From the DOT website:
A bit from the NASCO website, FWIW:
No, really, where is it?
August 8, 2007 - 02:15 ET by UnsaneReally, where is it? I have driven on I-35 quite frequently and have not seen any indication of such a thing.
Besides (I really wish I would have kept this article), I read recently that Wharton County withdrew itself from some organization that supports the TTC. Last time I checked, I-35 does not traverse Wharton County.
See? The Conspiros can't even coordinate their fantasies. Sad.
Res tantum valet quantum vendi potest.
nasco
August 8, 2007 - 02:22 ET by misterbillGeneral NASCO Statistics
A patriot must always be ready to defend his country against his government.
Author:
Thanks for the tag,
August 8, 2007 - 02:28 ET by Ten7sThanks for the tag, misterbill.
more
August 8, 2007 - 02:31 ET by misterbillTiffany Melvin, executive director of North America's Supercorridor (NASCO) Coalition, said the development of the I-35 corridor as "the world's first international, multi-modal transportation system" is needed to accommodate freight traffic resulting from the massive swell of trade sweeping in from Mexico as a result of the North American Free Trade Agreement (NAFTA).
"We are literally facing a trade tsunami and U.S., Mexico and Canadian infrastructure is unable to handle the burden," she told Oklahoma lawmakers recently in justification of NASCO's designs.
A patriot must always be ready to defend his country against his government.
Author:
On taglines and location, location, location
August 8, 2007 - 02:35 ET by UnsaneI agree with the tagline; that is why you will see a lot less of Unsane from January on. I will be answering the call, as it were.
Now, seriously, I-35 doesn't traverse Wharton County, yet they have aired reservations about the TTC going through there. So, where the hell IS this thing???
Res tantum valet quantum vendi potest.
unsane--in spite of our differences--
August 8, 2007 - 03:18 ET by misterbillunsane--in spite of our differences-- on this nau issue, I am sorry to hear you will be cutting back on your contribution. You present logical arguments and for the most part are a reasonable debater. "For the most part", is not an insult--I feel most of us have issues and moments where the fervor of our beliefs causes us to become "fiery?? in our rebuttals.
I truly wish I were younger and could help you in your efforts.
PS Hopefully when you have fulfilled your next call-you will come back to a flat tax system.
On flat taxes and my faith in the people of this great nation
August 8, 2007 - 03:25 ET by UnsaneSadly, misterbill, I am not holding my breath on returning to a flat-tax America after my tour of duty. That being said, I am still working to make it happen, the old-fashioned way...well, via e-mails to Congress, anyways...
I shall never fear free trade, for I will always have faith in the United States and its people. My short time on earth has shown me that so long as the government doesn't screw things up and leaves people to their own devices - they will prevail. Remember the late 1980s when the United States was going to be run over by the Japanese economic juggernaut? What happened? The opposite. So what if during my run today I saw many manhole covers on the street made in India? This country is still innovating and inventing many other things like no other on earth, and will continue to do so.
Res tantum valet quantum vendi potest.
Free trade???
August 14, 2007 - 13:36 ET by LionKing"I shall never fear free trade, for I will always have faith in the United States and its people."
Interesting. I assuming that by that statement you do not have faith in other countries and their trade practices. So, how do think the US should remedy unfair trade practices?
Trade
August 16, 2007 - 04:44 ET by UnsaneOther countries with unfair trade practices always wind up screwing themselves. Take Japan. Why else does the Japanese consumer pay through the nose for basic food items, for one example? Simple. The farmers of Japan have zero incentive to lower their prices. Why should they? They have a total monopoly on the markets there.
Or, look at the Europeans and all they do to protect their jobs. ALl that has succeeded in doing is prevented people from getting hired, which leads to things like persistent unemployment in nations like France.
"you do not have faith in other countries and their trade practices"...where did I say that? No, specifically, where did I say that?
Res tantum valet quantum vendi potest.
On I-35
August 8, 2007 - 02:29 ET by UnsaneI wish; I-35 SUCKS in Austin, AND Dallas (where it is I-35E).
But seriously, where is this thing? (Scratches head)
Res tantum valet quantum vendi potest.
Secretary of Transportation is a "conspiro"?
August 8, 2007 - 02:30 ET by Ten7sSo Norman Mineta, Secretary of Transportation is a "conspiro"?
Help me
August 8, 2007 - 02:32 ET by UnsaneHelp me out here, as I am geographically challenged. This EVIL highway which is supposed to destroy this great republic is supposed to be built on I-35, yet Wharton County recently aired its reservations about the TTC based on more mundane right-of-way concerns...yet every time I check a map, I-35 does not traverse Wharton County.
Now, where is this thing?
Is it asking too much for you Conspiros to get on the same freakin page???
Res tantum valet quantum vendi potest.
Simple question
August 7, 2007 - 23:30 ET by UnsaneHow can China own that much in Treasuries when Japan has a vastly larger economy and doesn't even own that much?
Res tantum valet quantum vendi potest.
}}---> It's easy Unsane
August 8, 2007 - 02:21 ET by Cool ArrowChina makes all those safe Fisher-Price toys our kids play with.
On China
August 8, 2007 - 02:26 ET by UnsaneOh. My bad.
(You think China is really going out of its way to piss off its biggest and best customer? Sure they are. If they are, they are dumber than I could have ever imagined. Reference the Austrian wineries' experience when one of them decided to make wine extra sweet by cheating with antifreeze, back in 1985. Not a good move.)
Seriously, China isn't anywhere near the G-7, yet it owns $1.3 TRILLION of debt? Please. If their entire economy is much bigger than that, I'll be surprised. It's growing fast, but it isn't "there" yet.
Res tantum valet quantum vendi potest.
}}---> OK, insane
August 8, 2007 - 02:33 ET by Cool ArrowI won't need reminding the next time you throw in a little bit of sarcasm.
Why is it so hard to believe China's accounts receivable worldwide is near a Trillion dollars? Though most of the paper they hold (I don't mean real paper, in case you're sifting for sarcasm again) is American, the rest of the world also is in debt to them.
More on China
August 8, 2007 - 02:40 ET by UnsaneAre you therefore telling me that China plunged ALL of that into U.S. Treasuries?
Now, if that isn't a piss-poor investment strategy, I do not know what is.
And now, on top of that already full plate, you say that "the rest of the world is in debt to them", which I can only translate as "they own the debt of every nation on earth"?
Hmmm. Wouldn't that loft them ahead of Japan as the world's largest creditor nation? It would. Which would be nothing short of an economic MIRACLE, as Japan's economy is far and away MUCH LARGER than China's.
Time to think critically...
Res tantum valet quantum vendi potest.
}}---> Yes, Unsane
August 8, 2007 - 03:02 ET by Cool ArrowIf Microsoft were legally free to buy a controlling, or influencing interest in Apple, do you think they wouldn't be just a little tempted?
Is there another country offering better return on investment?
I know if Mexico owed me a billion bucks, I'd discount it into US securities at 90% in a heartbeat. You wouldn't?
}}---> Forgot again
August 8, 2007 - 03:07 ET by Cool ArrowOK, I'm not saying EVERY world nation is in debt to them. Bless your nitpicking heart. Your addiction to absolute tedium is a fine evasive maneuver, but it's counter instructive.
Regardless of which size shirt you wear, it's always stuffed.
Cold water
August 8, 2007 - 03:16 ET by UnsaneWhat you call an "evasive maneuver" I call "clarification" (which you just did, thanks!).
Now that that's settled, let's look at some research another poster did. Hat tip, in a massive way, goes to acaiguana.
"...here is the scoop.
'That leaves a little over $4 trillion in public hands. The biggest chunk (about 25 percent of the $8.5 trillion total) is held by foreign governments. Japan tops the list (with $644 billion), followed by China ($350 billion), United Kingdom ($239 billion) and oil exporting countries ($100 billion).'"
Wow! China holds $350 BILLION in debt? WE ARE SO DOOMED!!! (Say, why aren't you guys all in panic mode over Japan? Oh, I forgot...that was a 1980s thing.)
It's funny how the people who cry and whine the loudest over foreign ownership of debt perhaps never ever considered the possibility of buying their very own pieces of it for themselves.
Res tantum valet quantum vendi potest.
}}---> Doomed?
August 8, 2007 - 03:47 ET by Cool ArrowWhy do you think we are "doomed"? I certainly don't think debt to another nation is necessarily the stuff of which doomsday is made.
Your comment that "WE ARE SO DOOMED" is a bit melodramatic, isn't it? I'm not in a panic over it because the economy has functioned well for years with outstanding foreign debt. Where have you been?
Sarcasm!
August 14, 2007 - 05:41 ET by UnsaneYou are SO missing the sarcasm...
The $1.3 trillion number that our Conspiro points to above are more than likely currency reserves. It would make sense for China to have those currency reserves, as they peg the RMB to the dollar as part of a "basket" of currencies.
Hmmmm...I wonder if the Hong Kong dollar is in that currency basket? There would be much irony there if so.
Res tantum valet quantum vendi potest.