HOW IT WORKS: CHINA’S NEW CARRIER-KILLER MISSILE. Unfortunately for them, it’s nothing compared to Ben Bernanke’s creditor-killing monetary policy . . . .

UPDATE: Reader Richard Wagner emails:

Regarding your recent post on Chinese Carrier-Killer missiles:

No doubt China’s present capabilities were enhanced by the Clinton Administration weakening controls on missile technology flowing to the Chinese, and that this has enabled the subject of your post. Now Obama is doing the same thing in demoting the present missile-tech-to-China decision process from the White House to the Commerce Department. With whatever they get as a result of this Obama decision, the Chinese will undoubtedly be able to close the technology gap further due to yet another unwise lessening of controls.

Curious thing about American exceptionalism: In the defense area it not only allows us to stay ahead of our competitors, it also allows us to make up for the stupid decisions of our leaders who would give away the fruits of our exceptionalism.

Meh. When Bernanke’s done with ’em, they won’t even be able to afford a single Congressman.