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I just had an argument with a friend who supported Obama but later admit he was too "busy" to vote. He said that what Obama is doing is like a root canal treatment it hurts like hell, but necessary.
I just told him that he should run his business the same way continue to spend when he has no money come in.
Got to love them, the people who support big government, and high taxes but want to hide as much of their income as they possibly can.
All I can say I am glad my mortgage is still fixed for next few years, and I hope we change direction by the time it is adjusting.
The US has wanted China to do this for years. Way. Before. Obama.
And now that they are, of course it's an Obama thing and of course it's a bad thing.
Ya know, if you're retired and experienced no inflation on your social security check this year for the first time ever, it's a good thing. If you owe China more money than you should (like the US *does*) because their currency is artificially high, it's a good thing.
Jesus Christ, the right will spin anything these days, how pathetic can you guys get?
The Chinese are unlikely to do anything that will do long-term damage to their stash of US debt. They own nearly $1 Trillion in Treasuries - about 25% of their GDP.
And remind me what Carter did that was so horrible . . .?
China has had a positive trade balance with the U.S. for years. It is obvious the yuan had to go up. Carter on steroids? I associate Obama more with Reagan, though they seem to be opposites. They are both charismatic leaders who took office during a severe economic crisis. I don't see inflation soaring; there is a tremendous amount of slack in the economy.
You mean those of us who saved our money, instead of burning it in the housing bubble or squandering it on 3G iPhones or Gap jeans, would actually be able to get more than 0.25% interest on our CD at the bank? While cables bills are going up 10% a year, and the global cost of food is up 40% in the past decade.
What about the bill for the Bush vandalism spree in Iraq. Is that coming due, too, or only the bills for things you didn't like and can falsely blame on liberals and socialists?
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Too Big To Fail
