Wednesday, August 08, 2007

The Collapse of the Dollar?

China owns $900 billion in US bonds, which of course lets us spend spend spend. But, as in all cases, if someone is financially supporting you, they get a certain say in how things are run.

This, my friends, is why you don't allow 44% of your national debt to be held by foreign entities. You'd think a good conservative like George Bush would know this...

ps--why is this not front page news here in the US?
UK Telegraph

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