China's official Xinhau news agency wagged a stern figure at America and Europe for "eating May's grain in April."
To have to take this - because it's accurate - from a corrupt and Communist, yet economically robust, Asian nation does not speak well about the economic or spiritual health of the West.
Perhaps we should be less free to blow bubbles.
ReplyDelete"The United States has long been maintaining economic growth and excessive consumption by means of debt financing, hence masses of economic bubbles, which eventually triggered the financial crisis," the commentary said.
Can't argue with that. Racking up debt with no idea how one will pay it off is dumb and dnagerous, every time.
ReplyDeleteWell, except for the "less free" part. It's also a bad idea to curb people's freedom to act like they're stupid.
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