So we're to grovel before despots? Please. We used to be the innovators. We use to be the inventors and science leaders. Do we think we can still lead the world being a nation of "managers" when all the technological and manufacturing base is located elsewhere?
We've mortgaged the country to foreigners. Those who hold our debt, hold our future. An economy dominated by foreign investment is a third-world economy.
Most of the foreign debt buyers have been countries who recycle their trade surpluss...
I would rather have them hold debt than our assets...and I would rather have no debt...
All that money has to go somewhere...
That's funny. We manufacture more than the GDP of every nation on Earth except Japan.
"We used to be"....Egyptian, Greek, Roman,?? Who talking here?
They give us money, and we give them little pieces of paper that say we will pay them back, maybe, if we feel like it.
You know the old saying- If you owe the bank a million dollars and you can't pay, you have a problem. If you owe the bank $100 million, the bank has a problem.
Oh, and China declares war on us sometime in the future? Fine. We declare all the debt held by the Chinese void, declare that no Chinese goods can henceforth be sold in the US and seize all assets in the US owned by Chinese companies and watch their economy collapse.