Can you imagine even five years ago that a Communist Government would be lecturing the United States on fiscal responsibility? Me neither - and in fact even today when our country is fulfilling the President's promise to be unrecognizable, it is still shocking to me that not only is the Chinese Government doing this, but that I AGREE WITH THEM!!!!
"We sincerely hope the U.S. fiscal deficit will be reduced, year after year," Assistant Finance Minister Zhu Guangyao told reporters after the Monday talks had ended. "The Chinese government is a responsible government and first and foremost our responsibility is the Chinese people, so of course we are concerned about the security of the Chinese assets," Zhu said, speaking through an interpreter.
So there you have it. The current $801.5 BILLION that we owe them is something they are a little concerned over. And the concern is obvious even to those with a basic understand of economics. You print money, you create inflation. You print too much money, you create BIG inflation. You have BIG inflation, the currency is devalued. The currency gets devalued, those with investments (oh let's say $801.5 BILLION) will lose money.
The US budget deficit that is projected to hit $1.85 trillion this year - four times the previous record - and that's without Obamacare!
Oh and finally - the US Dollar fell to it's lowest 2009 level today against six currencies of its major trading partners.
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(Copyright © 2009 By Simon L Conway All Rights Reserved.)
Simon Conway is the two-time winner of the FIVE STAR Best in Client Satisfaction for Real Estate Agents in the Orlando area.
Please give me a call if you have questions about the Central Florida real estate market. You can reach me on 407 876 8200. Also visit my web site at www.simonconway.net or www.move2orlando.net
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