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Buying Spree Nets China Stakes in Top U.S. Firms
Domestic
Tuesday, 09 February 2010 18:57
Flush with cash despite the global economic downturn, China’s sovereign wealth fund quietly snapped up more than $9 billion worth of shares last year in some of the biggest US corporations, including Morgan Stanley, Bank of America and Citigroup.
Although most of the stakes were small, China Investment Corp., the government’s $300 billion investment fund, now owns stock in some of the best-known American companies, including Apple, Coca-Cola, Johnson & Johnson, Motorola and Visa. The list of holdings, totaling $9.6 billion as of Dec. 31, was disclosed Friday in a filing with the Securities and Exchange Commission. The filing offers a glimpse of how China is trying to diversify its $2 trillion in foreign currency holdings with stock, rather than investing almost entirely in US Treasury bonds. Chinese government officials have repeatedly expressed concern about how China’s holdings of U.S. Treasuries could be hurt by inflation or mounting US debt.
Newborns' DNA Routinely Harvested For Big Brother Bio Banks
Domestic
Tuesday, 09 February 2010 18:52
The government is harvesting samples of DNA from every newborn child in the country, storing them in monolithic bio banks and providing them to agencies such as the Department of Homeland Security, all without the consent or knowledge of parents. In 2008, George Bush signed into law a bill which formalized the process the federal government had been engaged in for years, namely, screening the DNA of babies in the U.S. within six months of birth. Critics say we are faced with the prospect of the nightmare outlined by Aldous Huxley in his novel Brave New World, where individuals were categorized in a social hierarchy according to their genetic traits. The web site Infowars writes: “Unless this practice is widely exposed and publicized, we could find ourselves sleepwalking towards .. "perfecting" the human race through genetic manipulation, previously endorsed by Planned Parenthood founder Margaret Sanger, and toyed with by the likes of Adolf Hitler.”
Syndicated columnist Eric Margolis says Barack Obama’s proposed $3.8-trillion budget is folly, not “a major step in restoring America's economic health,” as Obama would have us believe. Margolis says it is in fact another potent fix given to a sick patient deeply addicted to the dangerous drug, debt. Margolis points out more empires have fallen because of reckless spending than invasion. The latest example was the Soviet Union, which spent itself into ruin by buying tanks. Washington's deficit will reach a massive $1.6 trillion this year. The huge sum will be borrowed mostly from China and Japan, to which the U.S. already owes $1.5 trillion. Servicing this debt will cost $250 billion. Obama's total military budget of nearly $1 trillion includes Pentagon spending of $880 billion and secret black programs of $70 billion. Margolis says to spend $1 trillion at the rate $1 million a day would take 2,738 years.
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