While we are still wrestling with the bail out of banks and auto makers, the Europeans appear to be coming up with a plan to bail whole countries, such as Greece and Portugal. I believe that eventually, this probably of sovereign debt will catch up to the larger countries. China is already saber rattling with dollar bills instead of steel, threatening to flood the market with our bonds. It can not be good for our economy to depend on our primary potential adversary, a communist nation.
USA - China Flag Pin picture courtesy PinMart
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