China marked its President's visit to the US by announcing a cap and trade program on the burning of carbon starting in 2017. Now the Right Wing Nut Jobs really can call Obama's Cap and Trade proposal a Commie Plot with some small measure of truth.
China's economic problems are likely to get somewhat worse, but it's hardly the global disaster the short sellers would like you to bet on. Literally bet on, Wall Street has instruments to sell you that will cover you against China's collapse for a small fee. Check out their Brooklyn Bridge penny stocks while you're at it.
It appears China's problem revolves around moving to a consumer driven economy. They have 600 million middle class people to serve and are planning for 400 million more over the next 15 years.
A number of past officials in China have become absurdly rich 'investing' in the stock market and are facing long prison terms for corruption. They were also resisting the move to consumerism but that is rapidly coming to an end. So it's unclear exactly for what they're being prosecuted: for corruption, which is usually tolerated, or for resisting the new Five Year Plan from Comrade Chairman. That's the real title of China's 'President', He's really just the Chairman of the 205 member Central Committee and they represent every major power base in China.
On Monday, August 6, 1945, after six months of intense firebombing of 67 other Japanese cities,...
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