~ Frederic Sautet ~
Check out this ad by Citizens Against Government Waste on government spending, public debt, and the demise of the United States. It shows that deficit spending is not just the concern of a few economists in academia anymore. The public is targeted and is perhaps getting more receptive to the message.
I am not sure why the Chinese rejoice at the idea of owning American debt in such scenario (of the US as a nation failing), as T-bonds and other US securities won’t be worth much by then (unless it is intended..).
H.T. Mike Wilkinson.