tag:blogger.com,1999:blog-8823028754153829159.post3585771998314914062..comments2024-01-19T20:36:22.060+10:00Comments on soli deo gloria: Slaves to debtRoss H. McKenziehttp://www.blogger.com/profile/09950455939572097456noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8823028754153829159.post-30560797673287963132009-08-24T10:43:32.204+10:002009-08-24T10:43:32.204+10:00I've often considered what would be the outcom...I've often considered what would be the outcome here if China were to call in all the American debt, or even simply refuse further lending. I was shocked when I first learned that it was China who was financing the bulk of America's debt. I also found it ironic, since that was one of the means by which the English settlers were able to obtain land from the Native Americans - letting them borrow in anticipation of future furs acquired. When the numbers of furry critters dwindled, the natives found themselves holding a bill and no means to pay. Thus they began forfeiting territory. Of course it would never be that simple in this global economy. There is a sense in which China needs us too, in which our collapse is their collapse. It is so strange, I must say, having grown up an American during the cold war, to find my nation so soon in bed with the greatest remaining communist power. They say politics makes for strange bedfellows, but it's clear to me that economics is no better.Laurie M.https://www.blogger.com/profile/15840896949617719814noreply@blogger.com