
03-14-2008, 08:02 AM
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Canadian Gashole
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Join Date: Mar 1999
Location: Quebec, Canada,
QC
Cobra Make, Engine: Johnex 427 S/C, 351W, 472 HP, 444 lbs. torque
Posts: 2,455
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Not Ranked
Quote:
Originally Posted by fsstnotch
makes us support china,
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The present administration has made it very difficult to do much about China for many years to come. The US has been running a huge Federal budgetary deficit for the past 6 or 7 years and much of that debt has been bought by China who will not allow the US to do anything that is not in their interest. Why do you think the Chinese currency is still valued so low?
On another point, US personal saving is now just about zero as almost everything is being purchased on credit. Chinese personal saving is at a 40 to 50% level according to Dr. Keith Schwer, Professor of Economics, University of Nevada. Americans are living for today and saving very little for tomorrow while the Chinese are saving today to be ready to pay cash tomorrow.
Wayne
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