The Lady or the Tiger
Mar 10th, 2006 at 9:08 am by Susie
This is pretty funny - because Halliburton may, in fact, be the only company with the ability to handle this. But boy, it sure won’t look good, will it?
Today Dubai Ports World announced it would “transfer fully the U.S. operations…to a United States entity.†This evening on the PBS News Hour, AEI scholar Norm Ornstein said that DP World was considering selling its U.S. operations to Halliburton:
If this is done now through the backdoor, where D.P. (Dubai Ports World) has any role at all, Congress is going to go ballistic, and it’s going to be a disaster, I think, for the administration.
They have got a dilemma now, because there simply aren’t American companies that have the know-how and the breadth to do this. Interestingly, and perhaps ironically, what I had heard earlier in the day, as they were looking at those that have the — the kind of resources, Halliburton was a name that came up.
The key word is “transfer”. If I take $10 out of my wallet and put it in my pocket, I have transferred it.
This whole thing should be about our huge current account and budget deficits, which fuel the flow of money out. The only way that money can return is by purchase of American products, or by purchase of American assets. Since we don’t seem to be making many products the world wants anymore, the purchase of assets, especially in the trade sector, seems to the be the best way for those awash in petrodollars to recycle them. Of course, they’re also buying the future income stream, thereby ensuring future current account deficits.
Perhaps a little analysis of how we’re selling our children into debt peonage would do the Democrats good, rather than beating the drum of anti Ayrab racism.
Pay no attention to that man behind the curtain!
If Halliburton gets the contract I will win a 50$ bet . It will be transferred to my garden..