I donât think the US is quite Greece, but I do think some of the debt problems need to be addressed. It should concern Americans that the debt is so high and has no foreseeable way to be lowered.
as to the document you presented the last line says it all Dr. Jin Zhongxia is Head of the Research Institute at th e Peopleâs Bank of China . This article is his personal view and may not represent the opinion of PBOC furthermore it is unlikely any chinese official would say anything that would precipitate a run on the dollar. since they sitting with a lot of dollars the goal is to diversify out of dollars with the least market disruption.
why do you feel that way when the US is made up of 50 states with each one = to greece + a federal goverment = 30x greeces. if you add it all together it is a fiscal disaster.
The significant difference I see between the US and Greece is that the US can use its military to extort the world. The situation is like two people who start running up debt, one, Zorba, is eventually forced to work more hours and spend less. The other, Sam, is able to run around stealing from everyone else in the neighborhood. It will just make the end far worse for the US, although at least for some segments of our society we will be able to delay the day of reconing awhile.
haha. What do you think of Kyle Bass, pushing his JGB short trade? Roubini, on the difference between net creditor and net debtor nations, in regards to sovereign debt sustainability?