The Red Chinese Yuan set a record high this week compared to USD. The highest since they began trading them nearly 20 years ago. The Republicans are claiming they're letting their currency rise to help Obama with the election since Romney has 'pledged' to declare China a currency manipulator, something Obama has declined to do. Obama has good reason not to do this, because such move at this time would be political suicide. To cope with the consequences would take the equivalent of the war footing of WWII. The Republicans would impeach him.
Romney and his Bain company continue to work fist in glove with the Chinese destroying our industrial base, so Romney is going to get tough with China? He'll get his own planet and million sister wives first. BTW, massive super-pac donations have been tracked back to China, these benefit Romney of course.
Speaking of China, the gold bugs are pushing the line that China has a secret stash of gold that will drive the price of gold to $10,000/oz. Is there anybody here who doesn't understand the concept of Supply & Demand? Maybe all the libertarians who sent me shrill emails two years ago when I said gold had peaked at $1800/oz. It's still less than that now. Canned goods are up however, but you can find bargains this time of year, stock up. China's exports are up despite the stronger Yuan, they operate on the Alexander Hamilton plan. You know, the way we did things before Reagan, before we became a third world country run by oligarchs.
Darrell Issa who is Chairman of the Republican Witch Hunt Committee in the House is running hearings on the lack of security at the US Embassy in Libya. Some Republican loyalists assigned to Libya dutifully complained that the State Department wasn't meeting their security requests. What they actually wanted was their own aircraft, the State Dept told them to fly commercial. In fact they hadn't requested anything for the Consulate in Benghazi. That city was considered friendly territory, and in fact the locals rallied to the aid of the Americans. In the aftermath the killing of the US diplomats, the civilian population rose up, overran militant's compounds across the city and burned them down. We could use that sort of patriotism here.