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Unread 31 Jul 2009, 22:55   #34
Yahwe
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Re: Is Bigger Government Better

Quote:
Originally Posted by Tietäjä View Post
The reason why these urban myths float around is that, as a spearhead of it a lot, China has a huge amount of T-bills and UK debts. That said, UK and US owe enormous amounts of money to China: hardly anyone's going to argue that China's actually well run due to hoarding a stock of Ts that's most likely going to inflate out because they've held onto a fixed exchange rate during years. I'm glad you actually took the notation that an accounting decifit or surplus equals a well run and a rich nation seriously. China has ran a surplus for quite a while, and, has more or less funded a certain consumerfest/financial playground.

There's, even so, some reason to discuss the "US bankrupcy" and some reason to also acknowledge that it's not a situation unheard of and never before resolved without going Robert Mugabe on it. US, as the "source of this problem", will probably find accomplices from Iceland and United Kingdom, who are, too, quite endebted and running a "healthy financial sector".

Just to make it clear, I don't find you all that bright either. Just my share of ad hominem.
Thank you for agreeing with me.

(I understand that it is easier to write long rambling prose which does not make sense than just say it out right so I will forgive you the length of your apology)
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