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Let's default on the war payments and let China have it for what we owe them.
China doesn't want the dollars they have invested. If they had something to do with them, they would have done it. They invest their surplus dollar holdings for safekeeping while hoping to earn a competitive rate of return. Have you ever heard of a local bank president driving all over town giving cash back to all the people who had bought their CD's as a way to reduce debt??? No??? What do you suppose would account for that???
Now here's a question to ponder...if incomes are down how the heck is savings up ?
And that (savings up) coming from the same agency..BEA.
I think it's because under this administration, the middle class is getting poorer but the rich are getting richer. They have more to save because the cheap labor from exported jobs and imported cheap workers is benefitting a few very nicely.
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