With the continued weakness of the dollar, balloning trade deficit, and what T. Boone Pickens calls "the greatest transfer of wealth in history" due to our dependence on foreign oil, is our country being sold at wholesale prices?
Financial institutions are taking in investments from foreign sources to shore up their weak equity positions due to the mortgage mess, our landmarks are being gobbled up by foreigners (most recent example being the famed Chrysler building in NYC), greater percentage of our national debt is being held by foreign countries, and even that most American icon called Budweiser is now foreign owned. What will be next? Selling the Statue of Liberty back to the French? Or maybe it will GM being bought by an Indian company considering it's current market cap is around $5 billion?
Where will it all end? First it was our manufacturing base, now it's the companies themselves. It's a concern which doesn't seem to be getting that much attention and it has me worried...will we leave a nation owned by foreign companies and countries to our children?
Here's a related article from a few years back but seems even more relevant today...
Bush's Economic Policies: Don't Look Behind the Curtain
1992
America for sale at wholesale price?
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