Wednesday, December 8, 2010

Video: The Day the Dollar Died

1 comment:

Anonymous said...

Yeah, China can stop buying treasuries, but any economic collapse in America will bring China down with it. That is the price of a merchantilist export driven economy. What happens to China when we stop buying Ipods, cheap clothes and computers? They will have another revolution. The CCP's only legitimacy is prosperity.


It is like the claim by some that foreign countries will seize U.S. property overseas to pay off the debt. Just one problem, there is no U.S. owned property overseas; none in Japan, none in Thailand, none in China, none in South Korea.

The other issue is that America produces all its own food. We are net exporters of food. So we get cut off from Chilean and French wine; we drink it from California, Oregon and Washington. Kansas will still be producing wheat, Iowa corn, Florida citrus, California just about everything.

The real solution is cutting off the lazy people on food stamps and forcing them to work in the fields to earn their keep.