Stocks are going to affected more and more in the coming months, the bottom I’m afraid about to fall out.
By Daniel at 8 February, 2010, 11:12 pm
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The United States has been accumulating debt for a very long time. Up until this point we have gotten by on brazen promises and outlandish loans. Those days have run their course.
China, the primary lender/rescuer of the United States -who, when we as a nation look into our purses and a one-winged dead moth coughs out- has said for the first time in financial terms…”*F$# this S$#%”
Can you particularly blame them? China has eaten up as much as $790 Billion in Treasury Securities. But what have they gotten in return?
Are we as a nation becoming stabilized, are our banks on solid ground, are jobs and security becoming established? No, No and NO. Eventually a loan becomes less of a friendly gesture and gets to the teeth of the matter- the lender expects to be paid back. Is the US capable of paying back China? No. Not even if we took every single dollar out of circulation.
We are unfortunately that annoying distant relative that can’t seem to get his act together, and always needs a handout, lives above moms garage and eats her food, but still manages to convince everyone that he’s just going through a rough patch and will get it together eventually.
The only time this country has been completely free of debt was under president Andrew Jackson.
If only we would look back and see how he accomplished this one time feat.
We might finally be able to move out of the house.
hooray.
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