In the book, Wealth and Democracy: A Political History of the American Rich, historian and former Republican Party strategist Kevin Phillips skillfully explains how as the wealth of the rich in America has grown, so has its control over government ; making politics a hostage of money. As the recent Wall Street bailout of 2008 and other government bailouts over the last 30 years vividly demonstrate, average honest hard working Americans have been regularly betrayed by politicians more focused on their own short term political careers and doing the bidding of their corporate and wealthy masters, while the long term health of the country has declined to the point where America is now a debtor nation and the status of the US Dollar as the reserve currency for the world is now being questioned.
One of the most vivid examples of how both American politicians and business leaders have turned America from a country of production and a creditor nation, to a country of consumption and a debtor nation , was to allow and even facilitate the national economic policies of Chinese leader Deng Xiaoping in 1986. It was in that year that Deng Xiaoping set out to acquire and master a group of 17 rare earth elements that would be essential in the 21st century world economy.
Unlike political leaders in America who were and still are more concerned about their own short term political careers and the short term profits of their political donors , Chinese leaders like Deng Xiaoping from as far back as 1986 planned for long term economic growth and sustainability, with an eye on a post peak oil and post fossil fuel based world economy.
Similar to the way in which American business owners first moved manufacturing centers from New England and mid west states of Michigan, Ohio, and Pennsylvania, to lower cost southern states in America during the 1990s and 2000s, American business leaders then moved or sold their companies to foreign countries. More concerned about profit, rather than a commitment to the community where many American manufacturing centers were once located, American companies like Magnequench in Indiana which produced rare earth products like neodymium, samarium, and dysprosium, sold their plants and equipment to foreign investors.
Perhaps no greater example of how the migration of American jobs and manufacturing to foreign countries like China has undermined and weakened America is to look at a plant in Valparaiso, Indiana which used to produce rare earth elements for the US military, but now is now home to a doggie day care center.
For a more in depth look at the rare earth policy of Deng Xiaoping and the control of rare earth elements used by the US military by the Chinese, you can read this Bloomberg News article.
The lack of foresight by American officials to identify the future strategic use of rare earth elements like neodymium, samarium, and dysprosium in the production of 21st century renewable energy products like hybrid-electric cars and wind turbines has allowed the Chinese to become the leading producer of wind turbines in the world.
Having not enough domestic oil reserves to meet future demand and not inclined to build an enormous and expensive blue water navy to challenge American dominance of the Persian Gulf, Chinese officials, under the direction of Deng Xiaoping, quietly set out to acquire and gain a market share in rare earth elements such as neodymium, samarium, and dysprosium.
Similar to the way in which American business owners first moved manufacturing centers from New England and mid west states of Michigan, Ohio, and Pennsylvania, to lower cost southern states in America during the 1990s and 2000s, American business leaders then moved or sold their companies to foreign countries. More concerned about profit, rather than a commitment to the community where many American manufacturing centers were once located, American companies like Magnequench in Indiana which produced rare earth products like neodymium, samarium, and dysprosium, sold their plants and equipment to foreign investors.
Perhaps no greater example of how the migration of American jobs and manufacturing to foreign countries like China has undermined and weakened America is to look at a plant in Valparaiso, Indiana which used to produce rare earth elements for the US military, but now is now home to a doggie day care center.
For a more in depth look at the rare earth policy of Deng Xiaoping and the control of rare earth elements used by the US military by the Chinese, you can read this Bloomberg News article.
The lack of foresight by American officials to identify the future strategic use of rare earth elements like neodymium, samarium, and dysprosium in the production of 21st century renewable energy products like hybrid-electric cars and wind turbines has allowed the Chinese to become the leading producer of wind turbines in the world.
While the Chinese are happy to control 97 percent of the world supply of neodymium, the Chinese probably did not expect how easy it would be to corner the market of a key component in renewable energy products.
While the elements are not as rare in nature as the name implies, they are difficult to find in profitable concentrations, expensive for Western producers to extract and often laced with radioactive elements. China
Contrary to what many Americans may be told by fear pedaling politicians influenced by defense corporations and unable to see the world beyond their self absorbed bubble of Washington DC, the Chinese government rare earths priority policy did not have the intention to undermine the American defense industry, American national security, or the American economy.
Corporate greed and the politicians influenced by the wealthy elites in American business are far more responsible for undermining American national security and the long term strength of the American economy.
Corporate greed and the politicians influenced by the wealthy elites in American business are far more responsible for undermining American national security and the long term strength of the American economy.
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