“The fact that we are here today to debate raising America 's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America 's debt weakens us domestically and internationally. Leadership means that, ‘the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”
It is funny how the page turns when office is attained. Incidentally, the US dollar is still, worldwide, the currency most investors want to buy. Now why would that be, do you all think?
Because in the land of the blind, the one eyed man is king. What currency is better? The Euro? One might argue China has a strong currency, but it isn t freely traded in the sense that the Chinese government artificially creates a value for it, rather than letting it set it's own value. They can also change it on a whim.
@Nebrfarmr wrote: Because in the land of the blind, the one eyed man is king. What currency is better? The Euro? One might argue China has a strong currency, but it isn t freely traded in the sense that the Chinese government artificially creates a value for it, rather than letting it set it's own value. They can also change it on a whim.
I think you will find Bush had a couple of run ups at China asking them to set it against the US dollar and both times they refused. Stevie wonder could see why. I assume they wanted it to be undervalued against the US $ because there are so many trade advantages for that. They wil eventually take over the US and not fire a single shot doing it. Your guns will be no use then!!!!!!!
They won't take us over, in a sense of an invasion, but I think the odds are better than 50-50 that the day will come in my lifetime, that we will be completely beholden to them economically, if the government keeps running us deeper into debt against them.
