Home Business The Ignorance Of Marco Rubio

The Ignorance Of Marco Rubio



I have – once at least – praised Marco Rubio. His Thorium Bill does solve a particular and precise problem. Admittedly, it solves one caused by government in the first place and the solution is only put forward to aid an industry – the phosphates one – in his own electoral state of Florida. But, you know, even if it’s just coincidence that we might gain a good idea from the political system that’s still a good idea.

And then we’ve got this intensive – intense even – display of idiocy from Senator Rubio.

Wall Street Must Stop Enabling Communist China
America’s financial elite is helping to finance America’s prime strategic adversary.

Well, no. This is reification. Wall Street is a market, a marketplace. There is no central direction of what it does. It is a place where willing participants engage in voluntary transactions.

“More fundamentally, Wall Street advances the goals of the CCP with its investment in China, which needs American capital to grow its economy. “

But “Wall Street” doesn’t do anything at all. It’s a convenient phrasing, a fiction, for those marketplaces.

In 2019, the United States became a net investor in China for the first time in history.

No it didn’t. Complete, utter and total claptrap. The United States is, if there’s anything at all which we can call that in terms of economic actors, the US government. We can also call the US the geography that makes it up and all that but that’s obviously not what is meant here.

What did happen – assuming the assertion is correct which I’ve not bothered to check – is that people who are resident in the United States had invested more in – or even the value of their investments had risen by more than – China than residents of China had invested in the US. They owe us – or we own more of their economic assets – more than we owe them.

But it is individuals who have done this. Possibly as part of those voluntary associations called pensions funds, or companies, but it’s not Wall Street and it’s most certainly not the United States which has done so. It is residents of which have.

…the portfolios of American investors have been increasingly invested in Chinese companies.

Yes, quite.

Thankfully, there are legislative solutions that both Republicans and Democrats should be able to support. First of all, we should ban any U.S. investments in Communist Chinese military companies.

If you don’t wish to invest in the Chinese military then don’t. You’re currently wholly and entirely at liberty not to do so. What Rubio wants is to take away your right to make your own decision.

But then, of course, he is a politician, isn’t he?

Similarly, no Chinese company on the U.S. Department of Commerce Entity List or the U.S. Department of Defense list of Communist Chinese military companies should be allowed to access U.S. capital markets—a move that could simply be accomplished by passing my American Financial Markets Integrity and Security Act.

You should not be allowed to put your own money where you wish. Shame on you for even thinking of your own liberty!

Guess who’s making a bid to inherit Trump’s China Bashing constituency?



Comments are closed.


in British English
expunct (ɪkˈspʌŋkt)
VERB (transitive)
1. to delete or erase; blot out; obliterate
2. to wipe out or destroy

Support Us

Recent posts

Agatha has been published.

Aunt Agatha has been published (the money came from an anonymous donor). It was £2500+ If you'd like a copy, donate £10+ and you'll get...

American Hyperconsumerism Is Killing Fewer People!

This report does not say what the Guardian headline writers think it does: Three Americans create enough carbon emissions to kill one person, study finds The...

Contracts Often Lag New Revenue Streams

I've been - vaguely and not with any great interest - anticipating a story like this: Scarlett Johansson sues Walt Disney over Marvel’s Black Widow...

Richard Murphy Rediscovers Monetarism

We have a delightful example of how Richard Murphy simply doesn't understand the basic nuts and bolts of the economics he wants to impose...

Vox Is Missing The Point About Having A Constitution

Not that we should be all that surprised by this from the progressives at Vox. No government- well, no one not controlled by...

Recent comments