hyopocricy:

Pronunciation: hi-'pä-kra-sE  

Etymology:    Middle English ypocrisie, from Anglo-French, from Late Latin hypocrisis, from Greek hypokrisis act of playing a part on the stage, hypocrisy, from hypokrinesthai to answer, act on the stag 

Definition:  the false assumption of an appearance of virtue  

Merriam Webster Dictionary

******

China's defense is offense.  Never mind that country's currency manipulation causing a government-enforced, economy wide trade advantage of 40%.  Never mind their economy-wide export subsidy program called the value added tax export rebate, which gives another 17% trade advantage.  The U.S. is at fault for failing to allow more high tech exports to China, otherwise we would not have a trade deficit.  That is U.S. protectionism, they say.

Does anyone really believe this?  China already gets more U.S. sensitive military and industrial technology through espionage than any other country.  Don't believe me, believe FBI Director Robert S. Mueller III, and other counter intelligence experts. 

I suppose that if we allowed free trade and access to our defense technology, they would buy more.  And would not have to spend all that money on surreptitious means.

Dubai, having given up on owning US ports, has decided instead to gamble on some prime Nevada Desert land, Las Vegas style.

In a deal valued at $5.1 billion, Dubai plans to become Kerk Kerkorian's partner in MGM Mirage.

The deal gives 90 year old Kerkorian a needed capital boost for his real estate venture involving hotels and casinos.

Dubai announced plans at the beginning of the year to invest $13.5 billion of surplus oil profits. The Las Vegas investment keeps them on track to meet their goal.

One analyst terms it a bargain for Dubai, but it looks more like snake eyes to me.

The Economic Policy Institute debunks Henry Paulson. Rob Scott does good work.  The summary of his recent report is below.

 Foreign Companies in U.S. Reduce American Jobs

Stung by criticism over the loss of U.S. jobs abroad, some prominent officials and economists have countered with claims that the United States is gaining jobs as a result of direct investments made in the United States by foreign companies, a process referred to as “insourcing.” Treasury Secretary Henry Paulson recently declared that U.S. affiliates of foreign companies “bring investments to our shores, creating jobs and revitalizing communities.” But a new Economic Policy Institute report shows that foreign companies operating in the United States have actually reduced their payroll employment by 4 million jobs since 1990, and that insourcing is not creating American jobs.

[hit "read more"]

A new report documents China's stainless steel production industry subsidies.  The PDF file is here.   The Specialty Steel Industry of North America produced the report.

I'm at a loss to understand why radical "free traders" ignore this stuff.