Current Blog Entries by Larry Fry, CCP, MBA

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The Political/Economic Costs of Being a Debtor Nation

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Per President Obama’s trip to the People’s Republic of China, Karl Marx did say that we free-capitalists would sell his ideologues the rope they would use to hang us with.  Perhaps he was right in that we are doing that exact thing with China right now.  By being our primary financial benefactor these days, China pretty much owns us and is also beating us at our own game via its controlled (or state) version of capitalism (i.e., definitely a competitive edge for the Chinese government-owned businesses).  So in the end, it might take the “nationalizing” of China’s huge investments in US Treasury securities and Dollars in order to get the rope removed from the vicinity of our proverbial neck.  And if things do take a turn for the worse, then why not;  other debtor nations tend to invoke the “nationalizing” card on our investments in them quite frequently once the timing is right.

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Written by Larry Fry, CCP, MBA

November 18, 2009 at 12:30 am

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