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printing your currency to prosperity

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i wonder who will have the last laugh re u.s.'s trillions of debt.

the debt was built up by freespending, on the back of the sweat of primarily the chinese labourer, for whom the promise of a better day for his child was given, in return, for the pittance of wages and concentration camplike work conditions..

i have always felt that there is no political will in the u.s. to repay the debts - for that to happen, the rich have to be taxed more (no chance as it is these who fund the politicians), cut their military ( :) ) or their social spending on medical care for the elderly & the poor (fat chance).

so, the u.s. borrowed and borrowed, and the chinese sold more and more. when the u.s had no more money, the chinese, bought the u.s. debt and continue to do so.

how it will all end?

here is an interesting article for your fun reading. enjoy

Forbes' Richard Lehmann: Dumping Debt on the Next Generation is Fine | Benzinga.com

ps: as one living in canada, we have as a country very warm feelings for the u.s. which i too share. but, having a fondness for somebody, i think, should not make one shy of some black humour thoughts at the sight of one upmanships. maybe i will shed a tear for the chinese labourer.

though i think, the chinese are looking for ways out, including reducing their dependency on the u.s. markets. let us see :)
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