The piece quotes a very senior Chinese official telling more good sense about their and our (America’s) economic problems than we can hear from 100 experts on American cable TV.
It describes the (almost perfect) asymmetry between the U.S.’s and Chinese economic challenges as
The US spends tomorrow’s money today. We Chinese spend today’s money tomorrow.
Indeed. And as we will see in the coming years, the consequences won’t be symmetrical, either.
The symmetry (stretching the meaning somewhat) is in our Chinese’s friend’s gentle advice in the form of a direct quote from one of the Americans who appear on those little bits of green paper with which we’re having so many problems, Benjamin Franklin…
He who goes borrowing, goes sorrowing.
I refer you to some earlier thoughts…
Robin is the creator and publisher of WatchingAmerica.com, a website that translates foreign news about the U.S. from around the world.
He is also a political and economic commentator for the Huffington Post, Ben Swann, the Daily Paul, and other sites. He is best known for coining the term “Blue Republican” to refer to liberals and independents who joined the GOP to support Ron Paul’s bid for the presidency. His article launched a movement, which now focuses on winning supporters for liberty, rather than arguments, focusing on finding common ground with those of various political persuasions, and especially people on the left.