Hillary Clinton and Proverbs 22:7
On whom does the success of the recent stimulus plan rest? No, it's not anyone here in the United States. Sure, our collective activity to go out, earn a living, spend wisely, save, and invest for the future, etc. will have some influence. We need to move past our fear and keep doing the right things for our long-term financial well-being. However, the answer is that the actions of the Chinese government will have a very large impact on the ultimate outcome.
For this reason, there is a story on Bloomberg News today that Hillary Clinton has been begging the Chinese government to keep buying U.S. Treasuries so that interest rates will stay low here. China is currently the largest holder of U.S. debt, buying almost $700 billion in the past year. There is much fear that the Chinese will look elsewhere to invest their vast savings, as U.S. Treasuries yielding next to nothing are not the best investments in the world right now for long-term growth. If the Chinese do pull the plug on further investments in U.S. Treasuries, then interest rates will need to rise here, as higher yields on those bonds will be required to lure new buyers.
So, this is a very visible example of the wisdom of Proverbs 22:7, "The rich rule over the poor, and the borrower is servant to the lender." This is why I am very concerned about the future of the country. We are now in a position where we have to beg our political enemies to continue to fund our lifestyle. This is not a trend that can possibly end well.
For this reason, there is a story on Bloomberg News today that Hillary Clinton has been begging the Chinese government to keep buying U.S. Treasuries so that interest rates will stay low here. China is currently the largest holder of U.S. debt, buying almost $700 billion in the past year. There is much fear that the Chinese will look elsewhere to invest their vast savings, as U.S. Treasuries yielding next to nothing are not the best investments in the world right now for long-term growth. If the Chinese do pull the plug on further investments in U.S. Treasuries, then interest rates will need to rise here, as higher yields on those bonds will be required to lure new buyers.
So, this is a very visible example of the wisdom of Proverbs 22:7, "The rich rule over the poor, and the borrower is servant to the lender." This is why I am very concerned about the future of the country. We are now in a position where we have to beg our political enemies to continue to fund our lifestyle. This is not a trend that can possibly end well.
Excellent points! You have to be worried. I know that I am. Just keep working hard and doing the right thing. What else can we do?
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