Don’t think that ease is man’s natural state
Don’t expect old joy as a prize that awaits.
He has no interest in what you say
When you curse his absence:
The moon follows the sun
Just to borrow his light
And never falls when there’re clouds around
Nor should we
When what we’re watching
Evades our design.
(Tuesday, October 14, 2008)
Since the U.S. began borrowing money from China fewer things have been made in the U.S. while ever more goods sold in the U.S. have been produced in China including food products, toys and pianos. Surprisingly, even products such as DKNY prescription eye glasses are made in and exported from China, and sold by U.S. merchandisers such as Sears.
Western countries such as Canada and the U.S. have become purchasers and marketers of these items made in China and other Asian nations, setting prices and creating credit vehicles from which they obtain profits. This practise of selling things created by Asian manufacturers has created a fantasy-like economy in which wealth is the product of borrowing foreign money and selling imported goods on credit in hopes that one day purchasers will have the full price plus interest.Similarly sellers of real estate sell homes and variable mortgages to people without money or income in hopes that one day purchasers will have the finances to pay rising mortgage rates and home prices.
And now borrowers including national governments have become aware that their wealth is a pocket full of I.O.U’s which governments must secure through tax payer contributions to financial institutions, and by importing purchasers from low wage manufacturing nations, and not through the manufacture and export of value creating products.
Recently I purchased a Heintzman piano originally manufactured in Toronto Canada from the 1800’s until the 1970’s. The company was founded in the 19’th century by Theodore Heintzman who is commemorated at 116 Bond Street in Toronto by a plaque before an historic church. My Heintzman was made in China and shipped to me in Toronto via our western province of British Columbia.