Re: Is America Headed For Another Great Depression?
It's really up to China...
If I would fall behind on my mortgage, the bank has the choice of letting me slide a bit or repossessing the house. They will choose which one finacially benefits them more at the time.
China is our mortgage holder, and right now they need our economy chugging along. Whenever the Chinese Financial minister speaks about their US investments, Wall Street trembles, and when he speaks of pulling out, they shake. Luckily we have a peace offering to give them...Taiwan, so they will let us slide a little while longer.
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