China, Can I make a suggestion??

With China presently holding more than $1 trillion of our debt the above cartoon is probably more reality than any of us would like to believe. Someday they may just call in all our IOUs.  I read an article recently about how the Chinese are now convinced that they have the purest form of capitalism and have very little to learn from the U.S. anymore.

This is kind of like a chicken/egg type thing but it is no wonder our government is drowning it debt. I read someplace where the average citizen now has over $5,000 in credit card debt!  That doesn’t include the trillions and trillions of mortgage debt that almost everyone has.  Talk about living beyond your means! At least our government borrows at a much lower interest rate 🙂

Someday we may come to our senses. Someday…

Source: http://mediagallery.usatoday.com/Editorial-Cartoons/G373

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