China Threatens To Cripple U.S. Economy

China now has accumulated $1.3 trillion of currency reserves, of which $407 billion are in U.S. treasury bonds. This has happened through their escalating balance of trade surpluses with America - they sell to us much more than we sell to them. In the process, China has been instrumental in putting many of our American manufacturers out of business.

Now with this huge stockpile of money and the leverage it gives them, they are threatening to dump these bonds and our U.S. dollar on the market. If they take this irresponsible action, it would immeasurably devalue the worth of our money, send the cost of goods skyrocketing, and cripple our economy.

This condition has been building up for a long time and puts America in a precarious and vulnerable position, as we have been producing less each year and have increasingly been surviving on imports.

Most of us don’t realize these dramatic changes are taking place. America is becoming a much different country then it was when you grew up in it. You will be leaving your children with a legacy that they had not expected and will be very disappointed with.

These are the issues our political leaders should be attempting to resolve. We must do something about this now.

Send this article to your congressional representatives and demand that:
1. A crash program to reindustrialize America be developed
2. Free trade agreements with foreign countries are changed to a tit-for-tat trade policy
3. We create conditions that will allow us to get out of our massive debts and once again become a productive, self-sustaining nation.

These economic issues affect us all and should take precedence over present “wedge” issues that are often concocted to gain votes. America needs a change in direction, and our political representatives need to start fighting for sound economic policy that supports the American worker.