“Why do great nations fail?”
Because they turn “their back on the principles that made them great.”
That is the explanation that might be given by a professor in China in the near future. Citizens Against Government Waste launched a shocking new ad campaign to depict how that Chinese lecture could possible go.
While it is true that the debtor becomes the slave of the lender if America collapses financially it does not necessarily mean that China will instantly fill the economic and military power void we will leave behind. Their economy heavily depends on America’s economy. That is the only reason why they are purchasing so much of our debt. However, it is without a doubt true that as China holds more U.S. debt they gain leverage over us. It is hard to negotiate with a country from a position of power when your country’s financial solvency is dependent on them lending you the money. In that regard CAWG nails it in this video!