Red Chinese Taxpayers’ BFF

Red Chinese Taxpayers’ BFF
By Bob Guzzardi


Yahoo/ Agence France-Presse reports that a Chinese ratings house has accused the United States of defaulting on its massive debt on Friday, a day after Beijing urged Washington to put its fiscal house in order.

“In our opinion, the United States has already been defaulting,” Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., the only Chinese agency that gives sovereign ratings, was quoted by the Global Times saying.

The irony the serial, mass murdering totalitarian Mao Zedong comes to the rescue of the American Taxpayer. Pathetic when the Chinese government states the obvious truth and our own Administration obfuscates the effects of reckless expansion of Government Fiat Dollar Supply.  It is hard to think of the dollar as real money anymore given the way it has been abusively devalued by our own government

Devaluing the currency as Federal Reserve does when it buys Federal Deficit Debt with Fiat Money devalues the real, as opposed to nominal, savings of every saver and diminishes value of real savings that can be invested in productive job creating business that raise the standard of living for all of us. The government (and Democrats) can ignore American savers and investors and buy off corporations with subsidies and special tax breaks but it can’t ignore the Chinese.

 

Red Chinese Taxpayers’ BFF

2 thoughts on “Red Chinese Taxpayers’ BFF”


  1. Well said, Bill. I wish the NYT and the Washington Post were as concerned about our dire financial situation as they are about Sarah Palin’s emails.

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