Chinese lecture America on finances?
NO MORE Mortgage endorses the words from the Wall Street Journal below. When the Chinese come to lecture our government about how to handle its finances, it is indeed a day of humble pie for the United States and its leaders.
No family could expect to pay off its debts by going further into debt. While we understand that the US can issue bonds on its good credit to stimulate the economy, too much debt and/or simply printing money risks devaluation of the US dollar and heavy inflation in future years. All this is in addition to the huge debt load that is being passed on to future generations.
As our largest investor, the Chinese wield a big stick. We pray they do not use it in a retaliatory or punitive way.
For the rest of the story you can visit www.online.wsj.com
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Filed under News by on Aug 5th, 2009. 
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