".....U.S. foreign debt now exceeds $6 trillion...." "....In other words, we're mortgaging our future to pay for today's "cheap" purchases! By using the dollars they collect to buy our debt, the Chinese are putting themselves in position to exert significant control over our economy....." http://www.suntimes.com/business/currency/560246,CST-FIN-terry17.savagearticle
Blame lies with the Gummint. They've been selling us down the river for decades. (No surprise, really.... it's the same old "government at the expense of the people" schtick.)
gnome, And now again they blame the poor economy on the poor people. It's the typical slight of hand trick: "look here". And while we look at where they pointed to, they are off doing something else behind our backs. They are the masters of distraction. In reality the most significant current risk to our economy is the incompetence of the current crowd in office. ---------------------------------------------------------------------------------- "Paulson Says Housing Is Likely To Adversely Affect Economy Treasury Secretary Endorses Standards for Mortgage Brokers, Expects More Declines in Housing Starts By DAMIAN PALETTA October 16, 2007 11:44 a.m. WASHINGTON -- U.S. Treasury Secretary Henry Paulson offered a sobering view Tuesday of the pressure the housing market was having across the country, saying the decline stood "as the most significant current risk to our economy...." http://online.wsj.com/article/SB119254743128760627.html?mod=hps_us_whats_news -----------------------------------------------------------------------------------
Just like when Greenscam was "tightening"... raising rates from 1%, while ramping-up the inflationary money-pump at the same time. It's not just the liars and thieves in office currently... they are only the latest.