Inquiring minds are looking at Sacramento at the sight of The State of California begging on the corner of World Ave. and Poorhouse Lane like a crack addict. The ‘Golden’ State’s Governor going to this nation’s biggest creditor nation asking for “just one more fix so we can quit!”:
Is China a friend or an enemy?
With the continuing economic downturn in the United States, it’s hard to tell whether China is a major part of the problem or a central part of the solution, Jerome Corsi’s Red Alert reports.”
While the Obama administration is preparing to pressure China to stop unfair trade practices, including keeping the yuan artificially low on foreign-exchange markets to boost Chinese exports, California Gov. Arnold Schwarzenegger is courting China to finance high-speed rail in the state as a way to create jobs and possibly keep the state from having to declare bankruptcy.
With the state of California still some $19 billion in the red, Gov. Schwarzenegger was in China pitching the idea that China could finance high-speed rail in the state.
Corsi wrote that the idea is reminiscent of the Texas Department of Transportation’s idea to have Cintra, the Spanish-based infrastructure company, finance the now-abandoned new I-35 NAFTA Superhighway that was planned in 2005-2006 to be a four-football-fields wide NAFTA superhighway designed to parallel the existing I-35 north/south from the Texas border with Mexico to the Texas border with Oklahoma.
How to squander a legacy. We Californians will have much to answer for in the way we have treated this state as a piggy bank for pet projects.
It is truly historic to see the mess that is California.
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