Here is a good article on how the mismanagement of the US’s finances hurts other countries economies because of the dollar reserve connection. Lengthy article but well worth the read.
This article makes the common mistake that our national debt is something we have no control over.
Our current situation is entirely due to the Bush administrations policies of waging war and expanding the government while also cutting taxes.
Reverse that trend and the debt goes down.
That article also makes a common mistake of assuming that China and the U.S. are in competition.
That’s not exactly true. The reality is that its the wealthiest 1% of the worlds population vs. the rest of us.
And the very rich like things just how they are. The ruling elite in China are much more afraid of their own citizens than they are of us. They will do whatever it takes to maintain the status quo.
