by Karl Denninger
Market-Ticker.org
If you don’t understand the issue with counterfeit goods and the wide-open door to cheating that it involves for nations like China that have “most favored” status, you’re nuts.
If you do nothing about it and allow a nation that does not instantly imprison the actors and confiscate any factory or facility used for such, you’re insane.
Why? Because you, dear American, are eventually going to glow in the dark this way.
One Tuesday morning last April, a blonde woman from Sweden stood out from the crowd, leading nine Kenyan officers to a storefront she believed was selling counterfeit goods. But they weren’t after knock-off handbags, watches or sunglasses. The shop specialized in a far less sexy — and ultimately more dangerous — fake product: ball bearings.