Thread: Capitalism: Is it dying?
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Pinnacle
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Default Re: Capitalism: Is it dying?
Old Jul 15th, 2009, 10:33 AM   #19 (permalink)

Quote:
Originally Posted by Double D View Post
This subject screams for a political response. Since I havent posted for months I will refrain myself...My biggest concern is that the lender(china) will call the loans due and begin collecting, at will, what belongs to them.(our entire economy) We have leveraged our freedom and our position in the world. We have become slaves to the lender. You may not yet see or hear the approaching of the owners coming to possess what is rightfully theirs, but that doesnt mean they are not coming. I wish I could say that we will survive and come out on top but it seems a daunting task with 3 more years to go. Maybe chopsticks and rice would be a good investment....Just a thought...
That would start a war. The main problem, and China should know this, is that there is nothing to collect. There is nothing backing the debt we owe them. Printing dollars into oblivion is not going to pay them back because of this. I am actually hoping they drop the dollar as the reserve currency to force discipline on us since we won't do it ourselves. That way China and our other lenders, provided they follow it's lead, can get the temporary recessions they would experience out of the way and then more quickly recover so they can move on with the prosperity their people so rightfully deserve.