I do agree with the OP's statement on the term 'fiasco' and tired refrain of 'China is owed the largest national debt'.
This is nothing more than fear mongering and here on ATS, its to deny ignorance so that the truth may set us free.
There is nothing to fear from China, espacially the illegitimate CCP govt. They had deeper problems than many realized. 1.3 billion of the masses
without social expenditure of any kind, 30 million corrupt card waving bootlickers pandering to corporations selling out the masses, brewing
discontent on land grabs and directions of the nation, etc, they have more than they can solve.
The debt by US is miniscule in comparison to others, and the most CRITICAL issue is that NO ONE pointed a gun at the head of the CCP dictators to
purchase US debts. They did so on their own free will, and should have done their due diligence and accepted the risks just as any other investors.
There will be NO BAILOUT, nor americans prostate on the ground in apology to them if their investments went bad. Its their risk and they have to live
with it, and FULLY responsible for their actions. If they wish to throw their might or influence the politics of a sovereign nation that USA is, then
every american citizen should know then what the sacred 2nd amendment is for.
If more printing of money is needed, this time following Keynesian principles of investing it into the masses, instead of the first time to the banks
which is NOT a keynesian principle, then so be it so that the economy can and will be reactivated for growth, so long as such funds are for growth and
not into sinkholes such as wars.
Americans and the next generations will have to pay for the price if the economy tanks, equally being misled by those in hidden power with the first
tranche of bailouts. Hell if they are to be made responsible or to die for another's investment through greed if the dollar sinks.
Thus stand tall, and think of ways to stop further debts so that we will not enslave ourselves and the next generations, instead of licking the boots
of creditors in the hope there will be mercy. There will be none. Give them an inch and they will want to be the ruler!
edit on 19-1-2011 by SeekerofTruth101 because: (no reason given)