Aug 07, 2011 11:16
Apparantly the Chinese are complaining about the high levels of US government debt. And yet they are the ones lending us a fair ammount of that money. It's just like the banks complaining about all the people defaulting on their crazy bat-shit insane neg am liar loans and insane levels of credit card debt. For the most part, many of these bad loans have idiots at every level: borrower, lender, bond-holder. Likewise, if the Chinese didn't buy so many treasuries in an attempt to manipulate the exchange rate, the US government wouldn't be able to continue borrowing rather than asking its citizens and business to pony up for the amount of government services that they insist upon.