Uh oh.
The US's free ride on deficit spending might coming to an end: China Has Lost Faith in Stability of U.S. Dollar, Top Chinese Economist Says at World Forum.
Asian central banks have been subsidizing Bush's deficit spending by buying up lots of bonds. If they stop doing that, the economic consequences will be severe. The US will need to bring its deficit under control, quickly. Expect pressure to cut social spending to accomplish that.
posted by Luke Francl @ 1:23 PM |
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2 Comments:
Well, here's where the US starts to slide into second tier status.
Hope the witless triumphalists liked "winning" the election. I predict that the 21st will be known as the "Asian Century", like the 20th was the "American Century".
And, as it happens, we have our own Fascists right here to take advantage of the troubles "for the good of the Fatherland"...
Yippee, we're all gonna die!
I agree this will be an asian millennium, 1000 years of glory, it's only fair. And that is how the game is played.
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