Let's get down to the real facts of who is paying for all of this student loan forgiveness. It is not the American people directly. No, we don't have that kind of money to give away. And if the Democr... View MoreLet's get down to the real facts of who is paying for all of this student loan forgiveness. It is not the American people directly. No, we don't have that kind of money to give away. And if the Democrats, the ones committed this atrocity, know damn well that it would get a lot of older, life-long, Dems to hit the name with an "R" next to it.
So what do the Dems holding sway over our politics do, they print more worthless money. But money has to be backed up by something or else all it's good for is writing your "things to do list" on. Now to back it up so that it does have some value the Treasury issues Treasury Bills (more commonly known as T-Bills) that people can buy and earn interest on to be repaid in the future. The problem is we never really have the government repaying those bills because they spend faster than we take in (it's even worse when we're in a recession as we are now). And what do the nitwits in DC do? They issue more T-Bills to replace the retiring T-Bills. But it gets even worse since they don't have the money to pay the interest that they promised on the retiring T-Bills so they just roll it into the next T-Bill offering. That slight of hand just makes the debt we owe even greater.
But it gets even worse. When you've become a debtor nation, as we have, our economy weakens and we are in the unenviable position of borrowing from other nations. And who is the biggest foreign buyer of our T-Bills? China, of course. What do they do, they use their new found riches to invest in real subjects that will increase their gross national product at a rate in excess of ours in real products and services and even worse for us, do it at prices far below ours. And that's how they have earned the money to innovate, to grow, to better educate Chinese children into tomorrow's wealth generators while we give free degrees to "philosophers".
But just when you think "it can't get any worse", well, you thunk wrong. The two biggest buyers of farm land in this country are Bill Gates and the Chinese. Yep, China is buying up farm land as fast as they can with our own money.
This US policy is even dumber than us buying oil from, what can only be called an enemy country, Russia while at the same time selling our "Strategic Oil Reserves" to other countries. Hey, let them buy from the Ruskies and we have more than enough to take care of our own needs. The reason I bring this up in a story primarily focused on China is an article I read about five years ago that was important enough that it stuck. Back then, as this whole E-craze thing was picking up steam (pardon the play on words) the experts were saying that the two countries with the largest known lithium deposits were Chile and, ta-da, China. My concern was how was this discovery going to change the world economic dynamic. In a way that's just a footnote in history given how China has prospered in so many other sectors thanks to our politics and... well... stupidity. But here we go charging off into lithium land with a communist dictatorship and enemy of America's founding principles.
The bottom line is... China owns us at the present time under our present "leadership". But all is not lost if we get real business people into politics. Going back on what I discovered as a corporate turn-around specialist. The borrower may owe a lot but without that, if we default, China is in deep trouble. If their primary market place, the United States, fails to keep buying their goods due to an economic calamity, they go down too. In a sense the borrower owns the lender as much as the lender owns the borrower.
