If there was ever an example for nations worldwide of What Not To Do, take a look at what socialist Ecuador has done to itself in dumping the U.S. and turning to align its interests to China. The New York Times has a superb (albeit stomach-churning) report about how Ecuador sold itself out as a vassal of China, getting for itself a junk dam that is already collapsing, and turning over 80% of its oil production to the communist behemoth in order to pay its massive, massive debts from it. That, in exchange for scrapping its military ties to the U.S. and skipping out on its tab with western banks. According to the Times report: “The Chinese put the hook in,” said Steve Hanke, a Johns Hopkins economist. “At the end of the day, what do these countries have? A pig in a poke.” Self-colonization, anyone? Let's take a look at what kind of government would mortgage its future so completely to the loving arms of the Chicoms: It was a...(Read Full Post)