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To: GST who wrote (157699)6/5/2003 5:48:51 PM
From: Oeconomicus  Read Replies (3) of 164684
 
What amazing ignorance of how the economy works!

Well, ain't that the pot calling the kettle black? Dumbass, if the government is borrowing, the capital must obviously come from somewhere. It may come from the "poor Chinese" like you were so concerned about or it may come from Germans and French who can't find a decent investment in their own countries or it may come from American citizens and institutions. But you were ranting about the fact it has to borrow and that this represents rich people stealing money from children. In that context, who the government borrows from IS irrelevant.

Now, if you want to broaden the context, then why don't you explain why it's a bad thing to borrow from the "poor Chinese" instead of Americans or anyone else? If the government is borrowing, it seems to me that it is better to get capital back into the economy from outside rather than draining internal investment capital. Oh, and while you're trying to figure out economic implications of who we borrow from, tell me what you think borrowing from the "poor Chinese" instead of ourselves implies about our currency and, in turn, about the economy. Lastly, try figuring out the economic implications of trying to balance the budget near term as you seem to think we should. Let's see if you are as smart as you think you are.
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