Tuesday, April 15, 2008

America, wake up............

The dismal mud-slinging of our presidential hopefuls pales in comparison to what is emerging in the Far East. China will be the next great country. Everything you have they want. In China they save and invest more than 35% of their income. In America, we save less than 2%. The Chinese work from dawn to dusk. Americans don't seem to want to work. They only want to look busy. When Chinese come to work, they don't say, "How many holidays do I get?" They want to live like we do in America.

And they are willing to pay the price.

China owns a tremendous amount of US government obligations. America is now the largest debtor nation the world has ever seen. We owe trillions, not billions. The real problem is that America's debt to foreigners is increasing at a rate of $1 trillion every 15 months. Ladies and gentlemen, boys and girls, you do the math.

And the gutless SEC and Federal Reserve Bank spend all their time and OUR money intervening to save all their friends instead of letting market forces and supply and demand work properly.

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