Bob’s take on

I had a dream==and it was a Nightmare!  Where is the United States headed? I read that the largest buyer of US DEBT is now China. The last I checked, China was a Communist country.  So not only do we buy EVERYTHING from China these days, because the price is cheaper because of their very low labor costs, but now they are buying our debt too.

So here we are in the US, fighting the recession and mortgage meltdown by spending and issuing Trillions in new debt. We become more and more vulnerable and beholden to China.  It was OK when Japan was buying our debt because they were our friends who we helped create one of the largest economies in the world in the 1980’s. We helped them rebuild their country and protected them with our nuclear umbrella for over 60 years. In fact, most of our national debt is from the building and maintaining our nuclear deterrent against all enemies.

So here we are today, with trillions spent on nuclear weapons to deter military agression. But what have we done? We have placed our future economic survival in the hands of Communist China.

What was the nightmare?  We are in home–sort of like the Mafia family, the Suprano’s.  We have purchased thousands of weapons, machine guns, rocket launchers, etc…  No enemy can come close to the house, we are protected. However, we let an old rival into the house because we owe an old debt and we have been business partners. We have come to trust the formal rival, in the name of “business”. The rival, however, once inside the home, killed the godfather and took over the home without a shot.  All the weapons and defenses were of no use.

Could this happen to the US? Could we suffer future economic death as a country, because our business partner, China, decided to pull the plug on our nation’s finances? This has happened over and over in the business community as companies go bankrupt because they can no longer obtain financing. What do you think?