TOKYO — How much debt can an industrialized country carry before it ravages its economy and the nation’s currency?
The question looms large in the United States, as a surging budget deficit pushes government debt to almost 50 percent of gross domestic product.
Yes it now worse in Japan http://www.nytimes.com/... but take a look at this http://www.usdebtclock.org/ and cringe
more sobering news on the flip
China gets tough over America’s ballooning debt
http://business.timesonline.co.uk/...
How comes the US MSM never published these articles ?
So China wants to see some plan coming out of the White House that will begin to reduce the deficit and, eventually, the national debt.
The Obama administration may mouth support for a strong dollar, but traders know better. In the short run, the White House hopes that a combination of protectionism and a cheap dollar will reduce the flow of imports and increase the volume of exports. That will create jobs "right here in America" as the Wal-Marts of the country switch to domestic suppliers.
YIKES !
Obama and his successors will attempt to pay back the more than $1 trillion they owe in wildly depreciated dollars. So it wants to see some plan coming out of the White House that will begin to reduce the deficit and, eventually, the national debt.
No such plan exists. Obama, who styles himself a "transformational president", intends to keep the spending taps wide open.
Oops !
Situation critical....