Malaysiakini’s headline, Clinton asks China to buy US debt
'We have to incur more debt. It would not be in China's interest if we were unable to get our economy moving again,' she said as she wrapped up her four-nation Asian tour.MORE
Hilary Clinton’s visit to China, for all intent and purpose, was to request China to buy more of US’s debts. This is like a customer asking the proprietor of a shop to accept more IOUs, so that he can afford to buy more of his goods. What an irony! What a crazy world financial system we have all these years!
Recently, foreigners were prepared to even park their money in US Treasury Bills with zero return because there was a lack of safe and suitable investments... even banks are not safe any more!
On a micro level, it is like encouraging people to ‘spend, spend, spend’ to keep the economy moving with the consequence of hardworking and thrifty people having to use their savings to help out those spendthrifts! Unfortunately, that's the way it is, and that's the way it works!
My post on October 31, 2007 seems as relevant now as before:
KoSong: Saving is a sin, Spending is a virtue
Government fed by the people
Career options
I suggest government... because nobody has ever been caught.
Corruption so prevalent it affects English language?
Corruption is so prevalent it affects English language?
When there's too much dirt...
We need better tools... to cover up mega corruptions.
Prevent bullying now!
If you're not going to speak up, how is the world supposed to know you exist? “Orang boleh pandai setinggi langit, tapi selama ia tidak menulis, ia akan hilang di dalam masyarakat dan dari sejarah.” - Ananta Prameodya Toer (Your intellect may soar to the sky but if you do not write, you will be lost from society and to history.)
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