February 25, 2007
What kind of a country are we when we no longer make anything, we no longer produce, we no longer save, we no longer have the ability to provide for ourselves, and we no longer have the capacity to pay back our debts?
Ah, the luxury of being the greatest debtor in the world with the world's reserve currency. People give us their goods, the result of their hard work and labor, and we give them paper and IOUs, which we have no intention or capacity to pay back.
Keep sending us those televisions, those luxury cars, those ships full of oil. Keep building factories, keep working 'til you drop, keep those ships and containers coming. We'll give you this green stuff in return. That's a fair trade, no?