Friday, March 16, 2012

China........is this image right?

How important is it that we get out of China's debt and do you think it's possible?

z

24 comments:

Ticker said...

Important yes, possible? Probably not.

We will stay indebted until we learn how to control spending in this country and that will not happen as long as congress critters know that they can buy votes via spending more and more money that we ain't got.
At one point I owed over a million dollars I could not see myself getting out of debt. Fortunately insurance took care of most of it and the American Cancer folks took care of some more. I was left with 100K owing to doctors and such. I was not sure that I could ever pay it off on my limited income at the time. Little by little it began to go down, every extra dime I got I payed on that bill and in a little less than three years it was paid. I had to stop spending except on what I needed. I tore up all credit cards, bought nothing other than food and shelter. I also paid off my truck during this time was debt free. Other than my house and one vehicle I am debt free and intend to stay that way.
Now the government could do the same thing BUT they won't and therein lies the problem. Until the pain of debt becomes greater.... and you can fill in the rest.

Ticker said...
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Always On Watch said...

I'm with Ticker:

Important yes, possible? Probably not.

Our debt to China has been building up for years! Since at least 1990, I think. Plus, China has had a strong GDP for exports.

Sam Huntington said...

Who doesn’t understand that government has no money unless, or until they get it from their citizens? Who doesn’t realize that from a government’s perspective, there is no such thing as too much money—too much spending? So it makes sense that if government cannot satisfy its appetite by taxing its own people, they will turn to other sources of money, e.g., China.

Unless the people begin to demand less spending of their elected representatives, the answer is “no.” When at least a third of the citizenry are morons, this isn’t a likely prospect.

sue hanes said...

Z - I think it is very important to get out of China's debt - but it ain't gonna happen Real soon - folks.

The United States of America is a servant to NO ONE - but a humble
co-existant of all Nations of This Wonderful World that we live in.

And China is one of Those Countries.

We will continue to be Friends with China - while insisting - diplomatically - of course - that they uphold good, decent standards for the World - too - in every arena - INCLUDING HUMAN RIGHTS - which is an area that is of utmost importance.

China - as a Country - and as a People - has come a long way Baby -and haven't we ALL - and don't all of us have a ways to go yet - to realize our Full Potential.

I know that - you know that - and I know that you know that.

Thanks - Z.

Liberalmann said...
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Liberalmann said...

[http://www.huffingtonpost.com/2012/03/15/obama-campaign-documentary-release_n_1350070.htm]

Z said...

Ticker.....this is what true americans would have rather done than go into debt; tightened belts and paid to get our great country out from debt, like you did, to your great credit, right?

AOW..beamish has another way of looking at it and is more optimistic toward our side, I hope he has time to chime in here.

Sam...with liberals and how they're indoctrinated AMericans into "GIMME" people? fat chance

Sue...we're a servant to NO ONE but I also think we're no shoulder to shoulder with other countries like the Obama admin would like to see happen, obviously. We are the exceptional country which everyone wanted to live in before liberals were promising everybody freebies.
Not so much anymore...

Liberal..old news.
imagine finding enough good from Obama's last few years to make 17 minutes of glowing documentary? :-)

Right Truth said...

I don't think the average American citizen understands how much leverage China holds over the US and how dangerous it could be.

Debbie
Right Truth
http://www.righttruth.typepad.com

cube said...

Vote out Obama, expand drilling for oil in the US, get busy on the Keystone pipeline, start reducing regulations on business and lower taxes on small businesses. Our economy should be churning along nicely after that.

Will "take no prisoners" Hart said...

Reducing the corporate tax rate, instituting regulatory reform, and coming together on something like the Bowles-Simpson and/or Domenici-Rivlin proposals would probably go a long way to re-energizing the markets. Unfortunately, the divide down in Washington is so bitter that none of it is likely to happen any time soon.

Bunkerville said...

We best grab a copy of the "Roseto Stone" edition on speaking Mandarin. Coming our way soon.. oh and be sure and start reading the Washington Post since they are hitching up with China and including a section every day.

Silverfiddle said...

Very important, and we should be doing it now, not later, it we have plans for a stronger dollar in our future.

Better to pay back the debt with devalued dollars than with strong ones. That is one of the arguments against going to the gold standard.

We are in such a deep hole...

Right Wing Theocrat said...

Debt is not always a bad thing. Many countries get by without much trouble while in deficit. But your level of debt is definitely not a good thing. Owing it to communists who at the best of times don't share your interests is worse.

Getting out of it, i'm not sure most Americans even want to, we'll see at the next election.

Z said...

What great input, thanks, everybody.

BUnkerville.."We best grab a copy of the "Roseto Stone" edition on speaking Mandarin."
I have young friends whose six year old is in PUBLIC elementary school...she's in CHINESE IMMERSION. Half day in English, half day in Chinese (she happens to be half Chinese but that has nothing to do with it)...CHINESE IMMERSION for ALL of the class, imagine?
OH, and the Venice, California young parents are just DELIGHTED! Honestly, they don't even GET what crap they're buying into.
By the way, I have NO problem with children learning other languages (I'm for it), and immersion is really the only way, but this is so typical; those who've planned this can hide behind my points and then castigate me for my reticence that they're doing this in CHinese..."what's your PROBLEM?" The PROBLEM is what it SAYS about our schools and their eagerness to talk lockstep with our enemies...in ENGLISH :-)

Cube..Amen to that

They Say/We Say said...

Only 1/3rd of a barrel of oil is used for fuel/solvents-the 2/3rds of the barrel is used for lubricants for auto engines, factory machinery, and other byproducts (Rayon, Dacron, fake furs, plastics, medicine capsules, nylon, etc.,etc...), almost every thing we touch-use.
China is a major importer of oil. The so called speculators (Goldman/Sacs-Merchant Bankers,etc...) are raising the price of a barrel of oil--and OPEC. They are taking the Chinese to the cleaners. The Dollar is devalued to pay these holders of debt, yea, drag the Dollar down and CHEAT, with the pay back to these countries who loan money.
When they figure out that they have been played-things will hit the fan! And Obama is fanning the flames!

Kid said...

China is not our biggest creditor. I think Japan is but it doesn't really matter. We're on the path of having other countries buy our debt so we can pretend we are a healthy growing economy.

Unfortunately we are not because public and private unions are still sucking the country/taxpayers dry with no return on investment and Net - there are not enough jobs to keep people off the dole.

It is why Greenspan inflated the real estate bubble (aided greatly by the democrat "house for everyone program" and why each new administration will look to inflate another economic bubble so they can say they resided over a "good economy".

Unfortunately, there are not enough Real jobs to maintain a healthy economy. Anything "Good" that happens will be "Fake".

Be careful out there. We are at a point where things can come aart as fast as you slamming into a stopped car on the freeway while you're screwing around with your iPhone- iPad :)

Kid said...

@Cube - Nothing happens until oblabbercare is repealed.

Liberalmann said...

And you want to build the Keystone pipeline to send more oil to China? Lol!

They Say/We Say said...
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They Say/We Say said...

The Keystone pipeline will bring down the price per barrel, the Chinese will not feel so cheated.
The pipeline will strengthen the value of the Dollar, the Chinese and other lenders will not feel so cheated.
And it will expose the DemocRates as the WAR MONGERS THAT THEY ARE!

They Say/We Say said...

Good grief, it seems that the libs only have a head to keep their ears apart. It echos so bad in there that they can't hear what is being told to them.

Z said...

Man, They Say.....your latest post just made my stomach turn.
And they call US the rich fat cats? :-)

Z said...

Lib..what the heck are you talking about?
Stop with the LOL...
Don't you have anything better to do between copy/pasting from liberal insane sites and insulting good people?
man