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Unread 31 Jul 2009, 09:39   #33
Tietäjä
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Re: Is Bigger Government Better

Quote:
Originally Posted by Yahwe View Post
China is not well run. China is not rich.

It seems to be a popular urban myth to pretend that China is either of these things. I am not entirely sure why (although I can guess)
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.
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