US economic policies are hardly 'sound'
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Well now I've heard it all. "Sound economic policies"?
Here we have a country that is over US$16 trillion in debt, that is continually bailing out failed businesses that are also in debt. We have a country that is printing money as if it were Monopoly money and hoping that someone will continue buying bonds to cover it even though everyone is dubious of where they are going.
We have a country that not only teaches, but practices spending as a means of stimulating its economy. And now, not seeing a way out, they have devised their new “sound economic policy”, debasing the dollar. I would imagine that the theory is that if the dollar is worth nothing, they don’t owe anyone any money.
“Quantitative easing” is nothing but a fancy name for “borrowing from Peter to pay Paul”, only now Peter doesn’t have any money, so they print it.
MWB seems to believe that the US is built on something of substance, while Thailand survives only on rice. I would like to remind him that once all of the oil is burned up, the iron ore is expended and that last robot-built car has been shipped, people will still need to eat.
John Arnone
Yasothon
