Reply #14: 7..8..9... [View All]

[Tierra_y_Libertad]

The Chinese are stilling manning the pumps for us but they're getting weary and manning their own lifeboats. The ones we sold them.

The only thing keeping our economy afloat (sort-of) is the Chinese willingness to buy our debt...for their own reasons. Namely, keeping the dollar artificially overvalued because they have so many of them. But, they are slowly and cautiously divesting themselves of said dollars by buying up resources world wide and investing in Euros.

In the meantime, we keep spending more and, in effect, printing more money to cover our debts.

It's a house of cards (to use another metaphor).