China is in worse shape than us. Who do you think makes all of the stuff we are not buying.
If the bond market collapses, several trillion of our bond dollars will be dumped on the market. Price goes down, effective rate goes up.
We pay the interest and”other” obligations, the spigot for a lot of other programs stop cold turkey. Look around, we don’t want to do that.
We need to turn this ship around. Running into the rocks is not a better option.
“China is in worse shape than us. “
I don’t agree. China is use to having nothing and their people don’t share in their apparent growth anyway.
Here the people have been conditioned to depend on our system and it will be a bigger problem for us if it collapses.