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Wednesday, July 9

FYI -- Discovery Channel Tonight -- Ted Koppel presents "The People's Republic of Capitalism" -- a 4 part series

Here's the line up:

Part 1: Joined at the Hip — Wed., July 9, at 10 p.m. ET/PT

The American and Chinese economies are irreversibly intertwined. The common complaint that the Chinese are taking jobs away from American workers is in many cases true. China's cheap and abundant labor attracts manufacturing from all over the world. Still, American economists estimate that the U.S. is as much as $70 billion richer each year because of its relationship with China —something must be going right.

Wal-Mart, America's largest retailer, is able to maintain low prices in part because of cheap Chinese labor. And when Apple sells a $299 iPod (designed in California and assembled in China), the American computer company makes an $80 profit, while the Chinese assembly plant makes just $4.

We'll trace the interconnected web of U.S./China trade, from Mexican migrant workers in North Carolina to a Chongqing teenager working on a boombox assembly line; quality control inspectors at Ethan Allen to a Chinese homemaker shopping at Wal-Mart in Chongqing; and laid-off workers from Briggs & Stratton's Rolla, Missouri plant to the American who runs the Briggs & Stratton plant in Chongqing.

Part 2: MAOism TO MEism — Thur., July 10, at 10 p.m. ET/PT

Part 3: The Fast Lane — Fri., July 11, at 10 p.m. ET/PT

Part 4: It's the Economy, Stupid — Sat., July 12, at 10 p.m. ET/PT


if you'd like to save yourself some time


SAVE YOURSELF from Ted Koppel, you can watch this interview with Jon Stewart


or better yet......

Just read this SPOT ON comment by our resident economist The Dark Wraith:

Good afternoon, Jersey Cynic.

Ted Koppel should study economics before he tries to play Junior Economist.

Barring that, Mr. Koppel should consider the counsel of economists who are not bought and paid shills of corporate interests.

Absent that, Mr. Koppel should simply shut his pie hole.

In summary, Mr. Koppel is nothing but another media shill trying to spin the relatively simple fact that the Chinese communist thugs figured out that they could bleed the American economy of trillions of dollars and tens of millions of jobs by pegging their currency at a third of its purchasing power parity value against the dollar with no fear of retaliation by the Clinton Administration as long as they beat the drum about "free markets" while the idiotic globalists here in the United States blubbered naïvely (or, perhaps, with a paycheck helping their thinking) about how "economic" freedom in China would ultimately lead to a growing middle class that would demand political liberalizations.

The Bush Administration and its enablers in Congress were simply delighted to keep this blood-letting rolling along because all those greenbacks the Chinese were amassing via our trade deficits would be available to lend back to the United States to allow the U.S. government to run year upon successive year of staggering budget deficits.

I have explained this process over and over again at The Dark Wraith Forums, most recently in my series, "The Economics of Wreckage," particularly in Part 4. The only requirement for citizens to understand how the process works is a willingness to stop saying, "That's all too complicated for little-ol'-moi," and start taking responsibility for the destiny of our nation.

On the other hand, it is far easier to do the following:

1) Borrow as households and as a nation so we can live beyond our means, with low-low taxes, high-high consumption, and all manner of other people to blame besides ourselves for the parochial interests of the leaders we choose.

2) Find Bogey-men and criminals to incarcerate at ungodly rates consistent with those of the most repressive nations on Earth.

3) When getting scared by the Bogey-men and criminals gets boring, turn the television to American Idol and other pathetic mind rot to watch other people who can be idolized, laughed at, and otherwise used to live vicariously.

4) Start wars with nations that might have oil we can steal, then get all kinds of morally indignant when that oil doesn't flow and thereby keep gas prices cheap.

And, of course, when all else fails, sit around debating whether an addled Republican corporate shill with neo-con advisers or a vapid, no-nothing moron with gyrating sex-pots on YouTube should be our next pretender to the throne of dying Empire.

In the interim, as we await the electorate's decision with respect to our next failed President-in-waiting, we can all sit around listening to a man who's made his life in journalism, a college major tailor-made to those who cannot pass any courses that require actual cognitively high-level thinking.

For me—and this is just a personal choice, mind you—I would rather listen to the evening wind whispering through the trees outside my place than endure the blow-hard wind of another TV imbecile trying to explain that of which he has no clue to an American audience that has even less.

The Dark Wraith has growled.
07.09.08 - 5:28 pm |

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