For the past many months now I have reported on a virtual discussion group on Planet Earth and Humanity. There are perhaps 25 of us, and they range the full spectrum from doomsdayish to hopeful. Everyone is concerned about the current economic collapse as a prelude to something worse.
China has been mentioned as problem, for, it is said, if they collect on what they have loaned to the U.S., we will truly be in trouble. Well, the current national debt is approximately $10.5 trillion dollars. China owns approximately $653 Billion, or only 6%. The link on the right shows that this debt has now soared past $11 trillion, but the Chinese percentage has not changed much.
Further, last year, our stock market dropped about 38%, but both China and Russia crashed 70%. The reason why China invests in America is that this is the best place to place their money. CHINA WILL CONTINUE TO BUY U.S. TREASURIES. Have you noticed how much worse the rest of the world is doing?
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The Dow Jones Industrials today went up 90 to 7750. That's more than a thousand from a couple of weeks ago. At least there seems to be a sense that this Great Recession will not become depressive. World markets mostly increased. Crude dropped 70 cents/barrel to $52.84, while gold settled $4/toz to $934.
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Tropical Cyclone Izilda is approaching cyclonic speeds in the South Indian Ocean west of Madagascar and could get close to the southern part of that country, while Tropical Cyclone Jasper east of Australia is losing strength.
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