Tuesday, July 10, 2007

China Takes The First Step, Admits It Has A Problem

While watching Ben Bernanke speak today about inflation, specifically in the lag variables of inflation in the Phillips Curve, which most Conservatives claim to be dead; an interesting event was reported. China has decided it has a product safety crisis. The following lead paragraph from a news article illustrates the issue:

China executed the former head of its food and drug watchdog on Tuesday for approving untested medicine in exchange for cash, the strongest signal yet from Beijing that it is serious about tackling its product safety crisis.

I suggest you read the article and think in terms of a totalitarian government and 19th Century American Laissez Faire Capitalism where railroad tycoons could say "law, I am the law" and mean it. Now, if they would just get the bastard with the tainted cat food.

11 comments:

notfearingchange said...

whilst in the shower and listening to the news I heard about the man in China...I was wondering how long til you posted!

As well Italy is protesting tomato sauce made in China!

The CEO said...

I am a responsible blogger. I haven't mentioned china for a week. This was just too much to pass up. Do you think it's a good way to reform our FDA?

My Reflecting Pool said...

your talking of reforming our FDA? Have you seen the crap not happening on Capitol Hill right now? I'm glad you are posting and ontop of all this. Please keep it going.

The CEO said...

Oh Pool, they are all Lame Ducks. The Democrats are busy trying to make the President look bad. That's not so hard, the Republicans have distanced themselves and tend to help out. So does the President. The Democrats have been singularly inept at bringing the troops home. So much for the folks that voted the Republicans out of Office. Right now, according to the Zogby Poll, the entire Congress and the entire President share the lowest approval rating in the history of approval ratings. Seems the public can't quite decide which one they loathe more.

What we have now downtown is what they like to call good old fashioned grid lock. Nothing happens in Congress, and the building turns into the Congressional Gas Works. This is your Morning Meeting Congressional Reporter, signing off.

Pool, I think my readership is trying to tell me something, I'm just not sure what.

spoon said...

Hey Monty, you know what they say. Don't go to sleep angry! :-)

Glamourpuss said...

They executed him?! Golly.

Speaking of Capitol Hill, was rather amused by the story of the escort service madam who published her clients' 'phone numbers online.

Puss

cmhl said...

off note, but here is the bushido creed for samurai (or close to it)

The Champion's Vow


I have no home; I am the home.
I have no means; I am the means.
I have no life; I am life.
I have no death; I am death.

I have no body; I am the body.
I have no mind; I am the mind.
I have no heart; I am the heart
I have no soul; I am the soul.

I have no plan; I am the plan.
I have no law; I am the law.
I have no strength; I am strength.
I have no sword; I am the sword.

I have no desire; I am desire.
I have no creativity; I am creativity.
I have no magic; I am magic.
I have no love; I am love.

***

your "I am the law" quote reminded me of that. Carry on.

The CEO said...

CMHL, the quote is from Commodore Vanderbilt of the NY Central when Congress passed a law trying to restrain the 'fight' that had erupted between him and the partners Gould and Fisk. Vanderbilt later won in Court.

I didn't go to sleep angry Spoon, but thanks just the same!

Puss, the things these madams will do to get publicity, or are they listing references?

The CEO said...

I was being tongue-in-cheek Puss, really.

mist1 said...

Hey, I think I saw China in a support group this week. We have the same sponsor.

Shibari said...

hey you... I had no idea lady bird died. I am glad i stopped by.. how are you???