U.S. national debt level rising to mountainous status, world business leaders are starting to raise questions about the longer term viability of the American currency. The China Securities Regulatory Commission has continued to eliminate any hurdles for foreign investors. (Source: Lim, W., “Shanghai Composite Enters Bull Market on Economic Growth,” Bloomberg, January 29, 2013.) Manufacturing plants continue moving to Asian countries for lower production costs,
The national debt ceiling debate was to be resolved by January first; but when that date came around, it was extended to May 18, as the two sides continue to debate.
We’ve heard talk about reducing government expenditures, but have see little evidence of any real change or action. Politicians in Washington appear to believe that somehow the U.S. national debt will magically disappear so long as they keep spending money.
American politicians bicker and fight with each other, the debt level continues to grow, the Chinese economy continues to expand, and the Chinese yuan continues to increase in global use. And week after week they repeat the same arguements.
Einstein once stated that "Insanity is doing the same thing over and over again while expecting a different result"