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Is China Running Out Of Our Money?

Guest post by: Michael Hume

Article Overview: It's been said that the trouble with collectivist economic approaches, such as socialism and communism, is that, eventually, you run out of other peoples' money. If there's a lesson from the last century of adventures in collective statism, I guess it's that the big collective economies only work for a while, and only if there's a bigger free-market economy out there (like ours has been), cranking out growth and creating markets for the rest of the world....

Is China Running Out Of Our Money?

Let's Print Up A Fresh Batch And Get It Right To 'Em! Know what's really awesome? Hearing lectures from our communist friends in China (and our recently-communist friends in Russia) about how, despite the big debt deal, America still doesn't have its fiscal house in order. We're spending too much, they say, and our debt is still spiraling out of control. And it's even more awesome to realize they're 100% correct.

It's been said that the trouble with collectivist economic approaches, such as socialism and communism, is that, eventually, you run out of other peoples' money. If there's a lesson from the last century of adventures in collective statism, I guess it's that the big collective economies only work for a while, and only if there's a bigger free-market economy out there (like ours has been), cranking out growth and creating markets for the rest of the world.

So, is China running out of our money? If they couldn't sell products here, their economy would be wrecked. But the Chinese economy is doing great! So they still have plenty of bucks flowing in from the American market (what's left of it). And we're still sending their "emerging" economy billions in economic development aid. Really! So they should be in pretty good shape, right? Why the disapproving scolds?

The current U.S. leadership has been crystal clear about a couple things: one, America has no right to lead the world, especially economically, and needs to be taken down a peg (and apologized for). And two, if there's anything that'll slap back that uppity U.S. economy, it'll be the boffo progressive package of intentional stagnation of the free market, buckets of regulation, high taxes (those billionaires who make $250,000 need to pony up!), drunken-sailor entitlement spending, and currency deflation. Again, our leaders in Washington are doing their level best to make sure nobody here gets away with crazy capers like building wealth, starting a business, or getting a job. Those things are reserved for - well, for other countries, like our friends in China!

Let's keep China happy. After all, we've elected them (somehow) to lead the world, and most scholars say they'll have the world's leading economy in just a few short years. So let's double down on that "economic aid," and for Heaven's sake, if they need more of our money, let's get the Fed to print up a fresh batch and get it over to them, ASAP!

President Obama is clearly against drilling, at least for oil. But he's OK drilling a hole in the floor and sending our spending-burdened economy straight down through it. And he's going deep.

All the way to China.

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Article Tags: entrepreneurship, inspirational leadership, personal responsibility, wealth building



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