Wednesday, August 08, 2007

Is Reality About To Crash Bushie's Wonderland?

For those of you who have been merrily spending (pun intended) your ever mounting debt filled lives thinking your American 'good times' will never end, this is a must read:

Uncle Sam, Your Banker Will See You Now
By Paul Craig Roberts
"Early this morning China let the idiots in Washington, and on Wall Street, know that it has them by the short hairs. Two senior spokesmen for the Chinese government observed that China’s considerable holdings of US dollars and Treasury bonds “contributes a great deal to maintaining the position of the dollar as a reserve currency.”

Should the US proceed with sanctions intended to cause the Chinese currency to appreciate, “the Chinese central bank will be forced to sell dollars, which might lead to a mass depreciation of the dollar....”

2 comments:

Alfred said...

What is it with Americans that we always look outside ourselves from someone else to solve our problems? If it's not praying to some man-made 'god' for whatever, then it's praying for the Chinese and Russians to kick our government's ass and put the country back in line.
This is stuff we should be doing ourselves; at least those of us who are awake to it; so what the hell is stopping us?

The Unknown Candidate said...

Ignorance and apathy, my friend.