I send this to NOT make any political statement whatsoever because George Bush’s face can be superimposed on Obama’s and the cartoon will still have the same impact. I send it to highlight that relying on foreigners to finance half of our debts can last without consequence until it doesn’t. It also highlights the importance of growing the savings rate in the US as this pool of savings can be used for investment so we can rely less on the kindness of strangers.
Read this next.
Previous PostArt Cashin on the Fed, Dollar