Greece, a small Mediterranean country, has long been a country with major social and economic ills. For over thirty years before the turn of the century each successive Greek administration courted the E.U. to become a member. They were always turned down because their economy was such that they would be forever takers and never net contributors. Enter Goldman Sachs and their creative skills to fix the situation! At about the time Greece called upon them, Enron was a rapidly rising star. Coincidentally every trick in the book Enron used with their resourceful thinking to cook the books, Goldman Sachs applied the same to help Greece. It was all about off-balance sheet accounting. By 2000 the E.U. members were delighted to see Greece engineer such a quick and strong turnaround of their economy they accepted Greece into the fold not only with open arms but also unbridled enthusiasm.

For nearly ten years Goldman Sachs, as their advisor, did a great job of hiding the real facts about Greece’s true situation. The funny thing is; for me Greece has always been about two things, olives and a little bit of tourism. How could the likes of France, Germany and Great Britain have remained so gullible for so long. Surely they must have known the biggest crooks in the world of finance were behind the “new” dynamic and fast growing Greece. Obviously they weren’t because it took a massive global recession to expose the Goldman inspired fraud. Funny thing is Spain and Portugal are not far behind in needing hundreds of $billions in bail out money. Italy is on the precipice too. So at the end of the day Greece will not be alone. Won’t it be interesting if we find Goldman Sachs have also been the advisors to Spain and Portugal?

AIG may have been the biggest insurance company in the world, but now that I know the reason for their failure, I am disgusted the government has again intervened to perform its normal trick of helping big business. Paulson, a bible bashing billionaire, who made his fortune as Chairman/CEO of Goldman Sachs went into bat for AIG solely so he and his buddies could collect on their wagers. I have difficulty handling my own personal budget, so I know I am certainly no expert when it comes to high finance, but methinks the average American has again been duped. We already had handed money over the banks to assist with their liquidity and now we learn these dirt bags have enjoyed a double dip of the TARP funds. No wonder two banks so far can hand money back to Uncle Sam once AIG ponied up.

For my money now I know AIG’s debt was centered around acting a bookmaker for Wall Street, no-one can convince me that they didn’t deserve the same fate as Lehman Brothers. They should have been cast to the wind. Who cares if their good assets were sold at fire sale prices? Their competitors would have picked them up with no cost to the policy holders. As for the stockholders, it just would have been another punt gone wrong. Now the government is saddled with owning 80% of the company and as each month goes by it looks like their “investment” will become even more worthless. Why? Because potential buyers of the assets know it is easier to screw the government than it is a liquidator.

Earlier this month China declared a catastrophe; year over year November exports plummeted a massive 2.2%. Japan, the world’s number two economy, on the other hand announced their exports plunged 26.7%. Here we have the Ports of Los Angeles and Long Beach, the gateway for Asian imports are literally ghost towns for the past four months. The shipping industry is in total turmoil with nose-diving freight rates and fleets of container ships laid up. Meanwhile China is trying to tell us they are all but unaffected by the global meltdown in trade. This is in spite of leaks coming out of China that business activities such as the toy industry is now 50% of what it was at peak, with tens of thousands of factories shuttered and tens of millions of migrant (Chinese slave labor) Chinese from the agricultural hinterland returning home to their family rice paddy plots.

In a nutshell, the Chinese from their President Hu Jintao down to the lowest level Communist officials are totally arrogant, corrupt liars and cheats. In reality, Wall Street is not too far behind China since they actually share a great deal in common. Whereas a Chinese official might make up to tens of $millions practicing their craft, those Wall Street “gurus” led by fallen kings such as Bernie Madoff, Richard Fuld (Lehmann Bros) and Alan Schwartz (Bear Sterns) ran off with $billions in their pockets. At least in America, whether it was too late or not, Wall Street and greedy corporation CEO’s have been exposed for what they truly were/are. By contrast, in China until they return to being the agrarian economy they once were; which is what I predict happening with the wealth of the country based by barter, as was the case for centuries, China will continue to be run by filthy lowlife Communist Party officials.

In the geo-political arena, America’s ineffectual administration under George “Dubya” has lost all respect on the world stage. Much of it was brought about by sheer stupidity of an inept leader. Thanks also goes to China and Russia who have undermined this great country. Our global influence has never been so low in more than one hundred years. China, with its neighbor, Russia are our true enemies in every way. Why? The leadership of both countries are not only liars of the first order, but they also run corrupt governments. While Cheney/Bush did very well at covering up the collapse of our financial system, until it had to spend $trillions salvaging it a couple of months back, at least in a Judeo/Christian society there are checks and balances, that in the end, protect us as the greater good for mankind is the over-riding factor. What many of us do not realize is that Communism’s “official religion” is atheism. At the end of the day we have a higher order to answer to; China and Russia don’t. That is why Chinese have no conscience tainting their food exports with poison, making dangerous toys with leaded paint, tires that fall apart, supplying toxic pharmaceutical ingredients, producing a high failure rate in computer components, poor assembly of scooters and cars etc, etc. Add this China’s flagrant abuse of copyright or intellectual property and we have our enemy number one.

I say to Obama give China the flick and make it quick. We don’t need their ilk feeding off us. They are the antipathy in every way of what America stands for.