McClatchy DC has the story Obama wants ‘global teams’ to create more foreign investment for U.S.

Obama said he plans to expand his SelectUSA program, the first federal effort aimed at coordinating government efforts to get more foreign companies to spend money in the U.S.

“I’m here because I want your companies to know — I want companies around the world to know — that I believe there is no better place in the world to do business than the United States of America,” Obama said.

If companies around the world wanted American goods, then they would already be buying them.  My guess is that China holds $1.3 Trillion in U.S. Treasuries because we won’t let them use that money to buy U.S. companies.  Can you imagine the uproar from the Tea Party if suddenly China were buying U.S. companies?

There isn’t enough wealth and resources in the rest of the world to replace the consumer demand that has been lost in this country.  That can only be replaced either by US government spending on investment in things this country needs or by fixing the mal-distribution of wealth into the hands of the few, or more probably both tactics.

People say that massive government spending will drive this country to the poor house, while also observing that massive government spending in China is making them rich.  Can anyone explain to me how this can be?