Last week at the 2013 U.S. Saudi Business Forum, multi-billionaire Obama Commerce Secretary Penny Pritzker, lavished praise on Obama and America's new business partners, Saudi Arabia. I read the transcript of Pritzker's speech. To call it sucking up would be an understatement.
"I'm thrilled to be here to build on the strong relationship that exists between President Obama and King Abdullah -- dating back to June 2009 when both leaders visited each other's countries," exclaimed Secretary Pritzker as she welcomed Al Qaeda's Wahhabi financiers to Los Angeles.
Pritzker began by applauding Saudi Minister al-Rabiah "for the warmth you have shown from day one." She also went on to thank Minister al-Rabiah for inviting her to be the keynote speaker at the forum well before her Senate confirmation. "I appreciate the faith you had in my nomination," swooned Pritzker. Perhaps Saudi Minister al-Rabiah had a hand in Pritzker's nomination and successful confirmation. Given her background, it would not surprise me.
If you are interested in understanding how Secretary Pritzker amassed such wealth and influence, an informative article is available by clicking here.
For some reason, both the Obama Administration and the Saudi Arabian government are not happy with current trade relations between the two nations. Therefore, Obama had a party in L.A., all the Sheiks got a taste of the local talent and the un-convicted criminal Penny Pritzker offered the Saudi's new and creative ways to build "bridges between the United States and Saudi Arabia, the largest economy in the Middle East."
Unfortunately, for the US economy, the bridges Pritzker referred to have one lane going east and four coming back west.
For decades, U.S. Saudi trade was minimal with relatively small deficits beginning to occur in the early Bush years. In 2000, the U.S. Saudi trade deficit was $-8.1 billion dollars. After Obama's 2008 election victory, American trade with Saudi Arabia grew at a greater rate than at any time in U.S. history. So has the US/Saudi trade deficit.
In 2011---the last year US Trade Representative data is available---the U.S. goods trade deficit with Saudi Arabia was $-33.7 billion, a 69% increase over the previous year. Moreover, the Obama Administration wants to continue this trend by providing in roads for Saudi Arabia to do more business in the U.S.
According to Secretary Pritzker: "I believe that we can also do more to bolster bilateral investment --particularly Saudi investment into the United States."
"Clearly promoting bilateral investment is a win-win," she added. "My hope is that more Americans will have the opportunity to go to work at good jobs at Saudi-based firms operating here."
Pritzker droned on praising Saudi Arabia "for achieving the milestone of being removed from the "301 Watch list." A list used to designate countries that put up unfair trade barriers, tolerate things like copyright violations, internet piracy, ignore patents (you know, steal from other businesses). It is fair to mention, in 2010, the United States Trade Representative, an Obama appointee removed the Saudi's from "301 Watch list," but I am sure everything was on the up and up.
Obama and his Secretary of Commerce want you and me to believe that the Saudi's ---because Obama says they are our ally's--- are going to start businesses in America and put Americans back to work. They also want you to believe that our US/Saudi trade deficit will shrink, and Islam is a religion of peace and tolerance.
Does this mean that Christian American tourists will access Mecca and Medina, bibles in hand? Do not count on it.
What magical incentives have been offered to lure the gods of big oil to the land of the infidel? Is this the same charade John Kerry put on with the Chinese, months ago, when he asked them to invest in US infrastructure projects in exchange for tax abatements?
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