Sunday, November 22, 2009
Dougas Holtz-Eakin in the WSJ on The Coming Deficit Disaster: "And how will the resulting higher interest rates, diminished dollar, higher inflation, and economic distress manifest itself?" I've said before that China is not buying our debt, rather, China is purchasing future foreign policy concessions. They will eventually offer us debt forgiveness. And we will recognize they're sovereign claims to Taiwan and Tibet... maybe even give them a carrier battle group or three.