America has been the world’s economic king since 1872, but according to the World Bank, that could change very soon as China stands ready to take our throne.
We’ve gone from the world’s biggest creditor nation to the world’s biggest debtor nation in 20 short years.
Got whiplash?
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Boycott China ,
Let’s go china! Uh, all you $#%&!@*s that shop at Walmart are gonna have to find some other $#%&!@*hole to shop in. Good luck morons.
David M., that’s the definition of stupidity , you’re $#%&!@*in’ name . $#%&!@*.
Sheldon, you’re obviously not one of the smarter Jews, are ya’ ?
Israel made Hamas, ya dick, to fight the PLO , brilliant don’t ya think?
The Obama socialist system really has put a hurtin’ on our economy!
What? You mean we’re finally pay our national debt!
Oh $#%&!@*. ^
its ok people lock and load we got GOD
The Feds say that our national debt is $17 trillion; but when we take into account all the “off the books” expenses and unfunded liabilities the total approaches $100 trillion.
The British pound sterling was the world’s reserve currency for 150-years. No one could foresee the Brits ever losing that status, but it happened. If China overtakes the U. S. as the world’s largest economy, how long do you think it will be before the American dollar loses its status as the world’ reserve currency? If and/or when that occurs we. are. screwed. As many goods as we import, we will then be forced to convert our dollars into Euros, Chinese Yuans or even gold.
If our economic allies, Japan, South Korea or Saudi Arabia ever stop buying U. S. treasuries, or God forbid, selling our debt that they already own interest rates will top 20 percent within six months.
The Federal Reserve, a private corporation that controls our economy had pumped, at times during the last six years $85 billion into the U. S. economy by purchasing our treasury bonds, while at the same time holding interest rates artificially low in order to stimulate growth. This profligate spending and deliberate manipulation of the interest rate makes us ripe for a currency collapse. If you’d like a dress rehearsal of what might happen here, all you have to do is take a look at Cyprus in 2012. The government declared a bank holiday in which depositors had very limited access to their funds. When the banks reopened everyone discovered that they’d taken a haircut of 15-25 percent. The government seized these funds to secure a European Central Bank bailout.
Best get ready. It’s coming.