The People's Republic of China today purchased 400,000 acres of prime California beach property from the U.S. government for $1 trillion cash. The former U.S. Marine Base -- Camp Pendleton -- will be converted into malls, office complexes, condos, and a few multi-million dollar residences, a Chinese defence department spokesman said.
President Obama said the sale would "sigificantly reduce the nation's deficit" and allow "closer ties with our Chineses friends. We can all go swimming together at the beach, then maybe throw back a few beers."
Some military observers worried that U.S. Marines would have no place to train for amphibious landings. An Obama spokesman said, however, that with global warming on the rise, a "whole bunch of new beaches should open up soon."