posted on Jan, 4 2011 @ 05:58 PM
reply to post by Condemned0625
I don't even see the point in paying off any of the debt as it continues to pile up at an increasing rate. The money that is loaned to them may as
well be given as a gift and not expected to be repaid since they can't seem to repay it anyways.
Indeed, from what I have seen, the governments of such overly indebted western economies have been trying quite hard to come up with ways to brush the
debts under the carpet, in both the short and long term.
Unfortunately, for them, enough players around the globe see it another way and are very keen indeed to hold on to their investments, AND in the case
of some competing nations it must be very tempting to use the situation to their advantage.
It also reminded me of how we hear the Chinese government likes to think in terms of much longer timescales than we have become accustomed to in the
west and corporate/state planning - i.e. months/quarters/terms vs. hundreds or thousands of years. When you are looking at a long term plan to
re-establish a multi-millenial world power to a position of greatness and affluence, what harm holding one of your key competitors and strategic
challengers to what is an incredibly burdensome debt for a generation or three?