Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
“The buy side’s hunt for yield will eclipse its worries about Chicago’s pension burden, vulnerability to a future recession, or the front-loading of refunding savings on the city’s upsized $1.47 billion of borrowing this week.” THIS says it all. How much optimism and TRUST must exist for people to buy the long-term debt of taxing bodies that have a proven track record of IDIOCY, profligacy and mismanagement? Obviously only Pollyanna shows up to buy in the bond market. Either it’s she, or Alfred E. Newman (“What, me worry?”) Someday this will matter. When that day arrives, and instead of BLIND… Read more »