Saturday, January 14, 2012

WHO owns YOUR town?

WHAT would you say if a foreign government did?

If they owned the water and the roads and the right to eminent domain.

What was Betsy Price doing in China?

Catch up on TURF.  YOU need to protect yours.  No one else will.

Seeking to defuse fears that it might use its massive USD 3.2 trillion in foreign reserves as a "political weapon", China today said it is willing to turn some of its holdings of US debt into investment in America to improve its infrastructure. 
It seems like foreign governments and corporations are craving U.S. public assets like toll roads, electrical grids and railways. In the case of our largest creditor, the Chinese government, they don’t want any more U.S. Treasuries, but they do want to own the hard assets that comprise our nation’s infrastructure.

It’s a good stance for our President to encourage foreign investment. But is it such a great idea for foreign firms to own our most vital infrastructure? In 2006 an enormous controversy rocked Washington when a private firm from Dubai was negotiating a deal simply to operate 22 U.S. ports. A bipartisan opposition centering on national security eventually emerged and killed the arrangement.

If the Chinese government wants to invest in U.S. infrastructure, the best place for them to do so is the municipal or corporate bond market where they can buy bonds in water and sewer systems, among other infrastructure assets. Direct ownership, even through public/private partnerships, shouldn’t be allowed. Again, national security concerns must be paramount when it comes to our infrastructure.

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