Wisdom from the Chinese
If there's one thing that I never expected, it was a helping hand from the Chinese. Well, a true helping hand from the Democrat Party is just as unlikely, but the Chinese don't even pretend to help us, and they don't self-righteously preach to us, which makes me tend to prefer them.
But the Chinese are helping now. They're expressing their concerns over the policies of Barack Obama by wondering if our treasury bills are a good investment. We will not default on the bonds, but the Chinese are concerned that we will take the normal debtor-nation way of paying back huge debts by deliberately inflating the currency, to pay the debts back with cheaper money.
Let's see. Borrow trillions, splash out with the earmarks, make all your constituencies feel good, and let's not forget that 40% of those earmarks were Republican ones, and what's the result?
Debt that's nearly impossible to repay without debauching the currency, destroying the wealth of savers, and undermining the world's faith in the soundness of our currency.
Way to go, Barry O.
0 TrackBacks
Listed below are links to blogs that reference this entry: Wisdom from the Chinese.
TrackBack URL for this entry: http://www.jessicaswell.com/cgi-bin/mt/mt-tb.cgi/2528
A Quote from Alexander Fraser Tyler, Lord Woodhouselee (15 October 1747 - 5 January 1813) a Scottish-born British lawyer and writer.
"A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship. The average age of the world's greatest civilizations from the beginning of history has been about 200 years. During those 200 years, these nations always progressed through the following sequence:
From bondage to spiritual faith;
From spiritual faith to great courage;
From courage to liberty;
From liberty to abundance;
From abundance to complacency;
From complacency to apathy;
From apathy to dependence;
From dependence back into bondage."
***********************************
I feel this is related to your post Theo as this group of "Neo-liberals" is indeed creating a class of government hand-out voters. I also recently heard that if all of Mr. Obama's plans are passed, almost 50% of adult Americans will be paying no income tax. It is that 50% plus 1% that the quote above refers to.
And this move to eventual "bondage" is being financed by the freedom loving Chinese. What irony.