The Chinese Laugh

clipped from www.realclearmarkets.com Imagine you are Chinese, and you are peering in on the American economy from afar. You see a debate taking place that doesn't compute. All the while, America has access to one of the most enviable sources of offshore oil and gas in the world, one that could create jobs and stimulate the economy. And yet, as you watch this American reality TV show, you see oil companies continually prohibited from going after it. As an energy-thirsty country yourself with many financial decisions to make, you have a dilemma — do you lend more money to America or go after that oil yourself? China along with Cuba and Russia are beginning to do the latter. While we debate, they are inching in on our supply. Cuba has announced plans to develop oil in the Gulf of Mexico. And Chinese firms appear to be playing a role in development in this arena. our political leaders talk about the tough measures they will take to repay our debt tomorrow. And they wonder why the Chinese laugh.