We are thus in the position of having to borrow from Europe to defend Europe, of having to borrow from China and Japan to defend Chinese and Japanese access to Gulf oil, and of having to borrow from Arab emirs, sultans and monarchs to make Iraq safe for democracy.
We borrow from the nations we defend so that we may continue to defend them. To question this is an unpardonable heresy called "isolationism."
And the chickens of globalism are coming home to roost.
We let Europe to get away with imposing value-added taxes averaging 15 percent on our exports to them, while they rebate that value-added tax on their exports to us. Thus, the euro has almost doubled in value against the dollar in the Bush years, as NATO Europe begins to bail out on Iraq and Afghanistan.
We sat still as Japan protected her markets and dumped high quality goods into ours and China undervalued its currency to suck jobs, technology and factories out of the United States. Now, China and Japan have $2 trillion in cash reserves. The Arabs have an equal amount of petrodollars. Both are headed here to spend their depreciating dollars snapping up U.S. assets – banks, ports, highways, defense contractors.
America, to pay her bills, has begun to sell herself to the world.
38:14 The earth takes shape like clay under a seal;
its features stand out like those of a garment.
15 The wicked are denied their light,
and their upraised arm is broken.
16 "Have you journeyed to the springs of the sea
or walked in the recesses of the deep?
17 Have the gates of death been shown to you?
Have you seen the gates of the shadow of death [a] ?
18 Have you comprehended the vast expanses of the earth?
Tell me, if you know all this.
19 "What is the way to the abode of light?
And where does darkness reside?
20 Can you take them to their places?
Do you know the paths to their dwellings?
21 Surely you know, for you were already born!
You have lived so many years!
22 "Have you entered the storehouses of the snow
or seen the storehouses of the hail,
23 which I reserve for times of trouble,
for days of war and battle?
24 What is the way to the place where the lightning is dispersed,
or the place where the east winds are scattered over the earth?
25 Who cuts a channel for the torrents of rain,
and a path for the thunderstorm,
26 to water a land where no man lives,
a desert with no one in it,
27 to satisfy a desolate wasteland
and make it sprout with grass?
