Telegraph.co.uk The article reads in part: “The US Federal Reserve's policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.” China will reform its portfolio from U.S. Treasuries to euros, yen, and other currencies.

        If China’s economy is suffering, at least they have a $2 Trillion surplus; the largest in the world. China is also not required to spend that surplus on anti-pollution equipment. China is not required to conform to the Kyoto treaty, and as of 2008 China has surpassed the U.S. as the world’s biggest polluter of CO2 from power generation, according to the Center for Global Development.

        Has Al Gore said anything about how China will destroy the planet?  In the last report that I read he was giving China a pass until all the nations adopt anti-pollution measures. Fat chance of that ever happening in Iran, China naysayers point to the pollution that will limit China’s economic growth. It hasn’t so far. Naysayers also point out that it will take 80 years before the standard of living of the Chinese rivals Americans.

        But China has a surplus and the U.S. is underwater for all intents and purposes. At the rate that Mr. Obama is incurring national debt and printing money to buy back government bonds, it might not take China eight years to surpass the standard of living in America. Look what FDR did to Americans in the 1930’s. Of course FDR naysayers will point to the capitalist, the Wall Street traders, and Hoover as the parties responsible for that 20 year depression.