The next president is being set-up with 2 or 3 wars that he’s not allowed to lose, massive payouts that go to the rich first (& the poor if we can) and the greatest national debt in history, and rising as Bush’s friends all put in their last invoices for services rendered. The aim is to make sure Obama or McCain have practically no room to move – how can you afford $30 billion for Health Care if you’ve just given the banks $700 billion? We know why Rupert’s in New York, to coordinate all his media empire voices into a perfect Greek chorus for this manipulated climax to the credit crisis, to drown out any naysayers.
But why he did he have time to accidentally bump into his ‘mate’ from Australia? What did Kevin and Rupert talk about later? I think they talked about China because there’s only one ‘Western’ leader who can talk to the Chinese in their own language and, make no mistake, at this moment in history as current global finances work, Bush’s $700 billion Bailout plan is utterly dependent on the Chinese Government. Bush can proclaim a plan, Congress can approve it, with whatever amendments they can agree on, but it is the Chinese who will have to pay for it. Last year the Chinese put over $300 billion into the American economy. Next year they will be asked to put in double or triple that amount. Kevin Rudd’s enthusiastic support for the bailout might be what is needed to get the Chinese onside.
And getting the Chinese onside really matters. There are other ways the crisis, and bailout, could be handled but they would require great intelligence, honesty and an understanding of Keynes, Galbraith and reality – all stuff that is far beyond the White House and the current American mindset. The Chinese will feel nervous – they’ve already sunk, and lost, a lot into the American dollar.
So Malcolm Turnbull, Australia’s new opposition leader, shouldn’t criticize Kevin for tripping off to New York – he needed to go. Remember, Malcolm, what makes us special is that two average aussies can meet in the streets of New York and go off to have a beer.