Trump hypocrite
dealing with Russia & China who own him
(Both have him by the short hairs bigly)
Headline – pretty startling
reporting here from
POGO (Project on Government Oversight) and the Chicago
Tribune:
“Two tech companies owned by Chinese
state-controlled firms obtained PPP SBA loans worth between $2.4 million and $6
million”
One of those two Chinese state-owned companies was featured in a March
2018 Trump
White House report on how China has been acquiring U.S. technological
know-how to better compete with the
U.S. Trump used that report’s findings to
justify new tariffs against Chinese imports.
Specific Details: According to a review of publicly available loan data by strategy
consulting firm Horizon Advisory: $192 million to $419 million has gone to more
than 125 companies that Chinese entities own or invest in.
Many of the loans were quite
sizable with at least 32 Chinese companies received loans worth more than $1
million and totaling as much as $180 million.
Major Story (Chicago Tribune):
WASHINGTON — Trump
has blamed China for the coronavirus pandemic and the ensuing economic crisis,
but as the White House looks to stabilize small businesses in the United States,
the rescue effort has had an unintended beneficiary: Chinese companies.
Millions
of dollars of U.S. taxpayer money have flowed to China from the $660 billion PPP
(Paycheck Protection Program) that was created in March to be a lifeline for
struggling small businesses in the United States.
But because the economic
relief legislation allowed U.S. subsidiaries of foreign firms to receive the
loans, a substantial chunk of the money went to America’s biggest economic
rival, a new analysis shows.
Specific Details: According to a review of publicly available loan data by strategy
consulting firm Horizon Advisory: $192 million to $419 million has gone to more
than 125 companies that Chinese entities own or invest in.
Many of the loans were quite
sizable with at least 32 Chinese companies received loans worth more than $1
million and totaling as much as $180 million.
The report acknowledges that
the participation of these companies in the lending program most likely saved
an unspecified number of jobs based in the United States, but it also suggests
that many of the businesses probably had access to other forms of capital from
public or private markets to support their U.S. operations. The Treasury
Department has estimated that the overall program has kept 50 million workers
employed in the United States.
The revelation that
Chinese-backed companies were helped by U.S. tax dollars shows the deep ties
that remain between American and Chinese businesses even as relations between
the countries have deteriorated in recent months with Trump regularly venting
his anger at China for spreading the COVID-19 virus that has left our once-thriving
U.S. economy in tatters.
Then
tie in this story – you may have
forgotten or never knew about – overview here:
Washington (CNN) – July 22, 2020: Trump has cast himself as tough on China and promised that his trade negotiations with
Beijing would economically benefit everyday Americans, that even as Trump-owned
properties have continued to contribute to the trade deficit with the country
he rails about.
Since September of last year (2019), Trump properties in the U.S.
have imported more than eight tons of goods from China.
CNN learned that by
reviewing U.S. customs data compiled by ImportGenius, which tracks information
companies are legally bound to provide to U.S. customs when they import goods
to the U.S.
The imports have arrived to
decorate his properties while Trump has sought to dress down China. For
example, more than six tons of tables were delivered to Trump International
Hotel in NY last fall.
On that very day, Trump tweeted: “We are doing very well in our negotiations with
China.”
Then
tie in this story from CNN – worth keeping in mind:
London (CNN):
On Trump's watch Russia and China have effectively re-aligned the coming world
order. They didn't do it together, but both took advantage of uncertainty and
unpredictability that Trump has helped create. It's far from clear that the
next president will be able to roll back the consequences of Trump’s impact which
leave both Vladimir Putin in Moscow and Xi Jinping in Beijing decisively
in control of their own countries and more able to act assertively.
In other words, Trump has made an indelible mark on the world, and not
be for the good. It is no coincidence that Putin and Xi have cemented their
grip on cherished goals, as the clock runs down on Trump's first, and possibly
only, term in office.
My 2 cents: Ouch on that last posting – once again proving beyond any doubt
that Trump is corrupt through and through.
Both above stories reveal the unintended consequences of Trump and his “trade
skills” which seem to amount to squat.
Apparently the Trump “Art of the Con” is still running full steam ahead
and gaining on the abyss every news cycle or so it seems.
A simple fact: Does Trump really know or remember the seriousness of
his policies that impact American taxpayers and the large number of our now-unemployed
people?
Right now according to the Department of Labor (DOL) over 1.3 million
Americans filed initial unemployment claims in mid-July. That marks the 17th
consecutive week of 1-million-plus unemployment claims.
To date, about 51 million people have filed for unemployment benefits
since the start of the Covid-19 pandemic.
Does Trump know that I wonder – sure seems doubtful doesn’t it?
Thanks for stopping by.
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