The wild spending is an attempt to keep the stock market high.
But foreigners take foreign exchange rates into account and will sell US shares if they see US shares sinking in terms of Euros, yen or yuan.
The US dollar will then collapse, along with shares of companies that need Chinese-made goods, such as Wal-Mart, Amazon and Apple. Facebook and Google shares will sink as their advertisers lack Chinese stuff to sell.
Sell cold soda, not apples if you find yourself on the street.
You are right. But I don’t see a collapse yet. I remember when the debt went over 10 trillion. You would have thought we were dead country walking. Still here.