Obama Announces $33B In Commitments For Africa

[Psephos]

7. Not any more.

China has headed for the exits.

The Fed has stepped up to replace them, creating "money" out of thin air. This faux money (which is actually a debt of the Fed, like all Federal Reserve Notes), is then used to purchase US government debt, at a rate of $75 billion per month. In other words, we're using even more debt to finance the debt. In any private business, this would be criminal malfeasance.

But no, just send the bill to the people of the future, with a big Fuck You printed on the bottom.

The rest of the world has had enough of this irresponsibility and the serial arrogance that has accompanied it. There are serious efforts underway to replace the dollar as world reserve currency, and they are gaining momentum rapidly. When that happens, the music stops, and life here is going to get very expensive very quickly.