The world as we know it has gone nuts, or we are truly heading for an apocalypse. I saw this article on the Bloomberg website. The Chinese are suing U.S. companies for patent infringement! This completely boggles my mind.
For years and years, the Chinese have been illegally knocking off our products, and we have been completely powerless to stop it. I guess now with the new policy of the United States of apologizing for everything to everyone, the Chinese feel emboldened enough to have the audacity to come to our country, use our courts to try and enforce our laws to their benefit.
Personally, I think the trial should follow along these lines.
Yes China, you are correct, you finally had an original thought, and you should be protected. We will award you damages, but first, we are going to calculate the counterclaim of all the American companies that you have ripped off for all this time.
Then we can go back to the tried but true MaterCard commercial formula.
Award to China: $4.6 Million
Award to American Companies: $7.3 Trillion
Finally giving China a taste of their own medicine: Priceless.
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Unfortunately, it appears as though we might have to endure shoddy treatment at the hands of the Chinese for many years to come. In late 2008, China became the United States' largest foreign creditor. It is estimated that China owns nearly $1 out of every $10 in U.S. public debt. Last month, Treasury Secretary Geithner had to visit Beijing to reassure the Chinese that their money was safe. How humiliating is that?
With the U.S. now preparing to issue hundreds of billions of dollars in debt over the next few years to fund our growing deficit, we will be more beholden to the Chinese than ever.
I think that we're getting pretty close to the point in time where the Chinese tell us, "Wash and iron your own darn shirts."
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