Friday, July 08, 2005

"Asians now hold $1.1 trillion worth of U.S. Treasuries. What are they going to do with all that loot? The bid for Unocal is peanuts. Asians could buy more than 50 companies Unocal's size - or a controlling interest in every major corporation in America. Without firing a shot, the rising Empire of the East could seize command of the industrial base of the declining Empire of the West. This is where America's strange system of imperial finance has taken us. Where next?" http://www.dailyreckoning.com/Issues/2005/DR070805.html

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