I’m so glad we’re in debt up to our eyeballs to a country like Communist China. If we hadn’t spent ourselves into oblivion, and then added to the fire with two years of Obama, we might be able to reason with the Chinese and prevent moves like this. When we’re paying ten dollars a light bulb, I wonder if the greenies will change their minds about having the government regulate our lighting? Probably not. They’ll just light candles and sing koombaya. Stock up folks. We squandered the easy life we had in America, sadly.
In the name of fighting pollution, China has sent the price of compact fluorescent light bulbs soaring in the United States.
By closing or nationalizing dozens of the producers of rare earth metals — which are used in energy-efficient bulbs and many other green-energy products — China is temporarily shutting down most of the industry and crimping the global supply of the vital resources.
I think we can now count China out as a source of more money. We’ll be at QE15 before they wake up.