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I am of that opinion. You just said yourself that anyone who looks at reality knows that no nation can repay a debt like ours. So why does China, or anyone, still lend us money? I'll be damned if I know. But it can't be because they expect to get it back. There's something else going on, but I'm not smart or educated enough to know what it is.
China is lending us the money because that's what you do to a junkie. You don't withhold the drugs, you give them more until they OD.
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"I am a Republican, a black, dyed in the wool Republican, and I never intend to belong to any other party than the party of freedom and progress" - Frederick Douglass, lived a slave, died a statesman, and 1st Black Presidential candidate
You can not convince the left wing machine which is now in control that we have a spending problem. We are finished as a prosperous nation. Wait until all the foreign debt holders come collecting. They know that at any time they choose, they can completely strangle our economy. You have to be a mindless twit to believe that we are on a proper road to recovery. Eventually the tax the rich argument will become mute and senseless, then we will see real fear in the eyes of these parasites.
The top 10% income earners pay 70% of income taxes, but this isn't fair nor progressive enough and if they pay 85% all our fiscal problems are solved. Yeah, that's the ticket.
The top 10% income earners pay 70% of income taxes, but this isn't fair nor progressive enough and if they pay 85% all our fiscal problems are solved. Yeah, that's the ticket.
prezbo has been very successful with his class envy/warfare mantra
Who says China is any less short sighted than we are?
China is much more far-sighted than America is even capable of being. They don't invest all their money in T-bills. I'm sure they have some money invested in euros and other currencies. They have only come into wealth recently, so it makes sense for them to be cautious about their investments. The dollar is not a good place to invest, but it's safer than everything else out there.
The Chinese have enough money in other places that even if the U.S. economy collapses, they will not be hurt that badly (other than losing their biggest customer for their products), and would emerge as the world's premier superpower. In fact, one could argue that investing in the dollar is shrewd business, as it helps convince Americans they can keep on spending (on Chinese products) without repercussions, pushing us closer to collapse. I read in a Chinese newspaper (English language edition) in 2000 that a Chinese think tank fully expects China to go to war with the United States by 2030, and defeat the U.S. easily. With the way that the last two presidents are weakening the U.S., I can't argue with the reasoning. We won't be able to afford much of a military in 2030.
China is much more far-sighted than America is even capable of being. They don't invest all their money in T-bills. I'm sure they have some money invested in euros and other currencies. They have only come into wealth recently, so it makes sense for them to be cautious about their investments. The dollar is not a good place to invest, but it's safer than everything else out there.
The Chinese have enough money in other places that even if the U.S. economy collapses, they will not be hurt that badly (other than losing their biggest customer for their products), and would emerge as the world's premier superpower. In fact, one could argue that investing in the dollar is shrewd business, as it helps convince Americans they can keep on spending (on Chinese products) without repercussions, pushing us closer to collapse. I read in a Chinese newspaper (English language edition) in 2000 that a Chinese think tank fully expects China to go to war with the United States by 2030, and defeat the U.S. easily. With the way that the last two presidents are weakening the U.S., I can't argue with the reasoning. We won't be able to afford much of a military in 2030.
I was being tongue in cheek, but I don't doubt what you're saying is a possibility. Just like Meyers last year we've become an undisciplined, contentious, selfish nation lacking competent & wise leadership.
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On the third day he rose again in accordance with the Scriptures;
he ascended into heaven and is seated at the right hand of the Father.
He will come again in glory to judge the living and the dead,
and his kingdom will have no end.
I'd say worse. We're on the proverbial road to mediocrity. At least ruinition holds forth the possibility of something better rising from the ashes.
Down here in Orlando, reportedly over a year removed from the recession, people are STILL opening BUSINESSES without alarm systems. They reason, "What the hell, I'll probably have to close in six months anyway."
The only people doing well in Jersey are lawyers, doctors, union lobbyists, HMO execs, pharmaceutical employees, union lobbyists, burger flippers to feed these people and Amazon warehouse employees to deliver items to their McMansions.
What you are doing there with prezbo is pretty obvious, Bill.
The GOP made it easy for him with 30 years of policies designed to wreck the middle class.
All this uninformed yammering about the conservatives destabilizing the Middle Class. Yet nothing in the past few decades has boosted the Middle Class more than the Bush-Tax Cuts. And yet, nothing will hammer the Middle Class more than the Affordable Care Act.
I'll tell you what will happen. The world's banks are already discussing it - writing off global debt. Start the financial system back at zero. They already set the global currency. Do some research on the Bank for International Settlements. Question is, will it be subtle or obvious.
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"I am a Republican, a black, dyed in the wool Republican, and I never intend to belong to any other party than the party of freedom and progress" - Frederick Douglass, lived a slave, died a statesman, and 1st Black Presidential candidate
All this uninformed yammering about the conservatives destabilizing the Middle Class. Yet nothing in the past few decades has boosted the Middle Class more than the Bush-Tax Cuts. And yet, nothing will hammer the Middle Class more than the Affordable Care Act.
Tax cuts are irrelevant when a Chinese guy has your job.
Healthcare costs are irrelevant if you can't get insured.
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The poster formerly known as shabadoo25
What are the chances of that happening anytime soon?
Nil, I think.
The alternative is going to be doom. But people are going to have to see it to believe it, IMO.
One of the things I have observed in reading this forum and other avenues is that many people just can't see what is being discussed. I guess I would call it either forward thinking or strategic thinking. I have learned that you either have it or you don't and if you don't then you are likely to trust what is in your immediate surroundings over what someone else espouses. I kind of think of it like the movie "Harvey" where the main character had a 6-foot invisible rabbit as an undeniable friend. Everyone thought he was crazy up until the end when things started turning out exactly the way he described it. But up until that moment it was a story about a creatively minded kook.
Tax cuts are irrelevant when a Chinese guy has your job.
Healthcare costs are irrelevant if you can't get insured.
Blame Clinton for a lot of the exporting of American jobs to China. That started under his administration. Clinton's EPA was very unfriendly towards manufacturing, and now we are paying a price with loss of jobs. At one point, EPA head Carol Browner proposed to ban chlorine (Cl2) manufacture. Clinton really believed that the internet boom would last indefinitely, and there was no need for the "dirty industries". Clinton's actions to encourage fuel conservation had good intentions, but disastrous results. Ford was persuaded to build large vans and Crown Victorias in Canada instead of the U.S. Clinton did not have the courage or the commitment to push through a tax increase on gasoline. And when the mutual funds that handle everyone's retirement money decided that they could make more money investing overseas than in the U.S., Clinton looked the other way as billions of American dollars were invested in Chinese industry (frequently with no return). Clinton was paid off by an Indonesian group to put a stop to coal mining in Utah (which he did by declaring the area around the potential mine as a national park) because Utah would have been a direct competitor with Indonesia for low-cost, low-sulfur coal.
Blame Clinton for a lot of the exporting of American jobs to China. That started under his administration. Clinton's EPA was very unfriendly towards manufacturing, and now we are paying a price with loss of jobs. At one point, EPA head Carol Browner proposed to ban chlorine (Cl2) manufacture. Clinton really believed that the internet boom would last indefinitely, and there was no need for the "dirty industries". Clinton's actions to encourage fuel conservation had good intentions, but disastrous results. Ford was persuaded to build large vans and Crown Victorias in Canada instead of the U.S. Clinton did not have the courage or the commitment to push through a tax increase on gasoline. And when the mutual funds that handle everyone's retirement money decided that they could make more money investing overseas than in the U.S., Clinton looked the other way as billions of American dollars were invested in Chinese industry (frequently with no return). Clinton was paid off by an Indonesian group to put a stop to coal mining in Utah (which he did by declaring the area around the potential mine as a national park) because Utah would have been a direct competitor with Indonesia for low-cost, low-sulfur coal.
Clinton gets some blame for sure.
Most goes to the greedy CEOs that sacrificed American jobs for the sake of obscene compensation.
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The poster formerly known as shabadoo25
In a free society, there is no such thing as an "American job." The govt doesn't force you to trade with or hire only Americans.
And the truth is that everyone here benefits in the long run when more can be gotten from foreigners cheaply.
But it takes a basic understanding of economics to grasp this.
Suppose someone invented a kind of 3D printing device that would produce cars cheaply and which put 99% of the auto workers out of work, would that be a good thing or a bad thing?
Think about it.
The same thing in principle has been going on for hundreds of years.
The result has been the prosperity of the modern world.
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