China and been warning about the growing U.S. debt and promised to back off from continuing to fund it. This development is no-doubt a direct result of China’s concern for the scope of the U.S. debt.
It is a bit concerning to think that Japan is funding our debt. They have more debt as a percentage of GDP than the U.S. has. Japan has been pouring money into their economy (aka stimulus money) for more than a decade and it has not helped their economy. They still have rampant unemployment and inflation is looming.
One day it will all come crashing down. It will not take much. “For in one hour your judgment has come. And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore” (Revelation 18:10-11, NKJ).
As Jesus said…
Whoever hears these sayings of Mine, and does them, I will liken him to a wise man who built his house on the rock: and the rain descended, the floods came, and the winds blew and beat on that house; and it did not fall, for it was founded on the rock. Now everyone who hears these sayings of Mine, and does not do them, will be like a foolish man who built his house on the sand: and the rain descended, the floods came, and the winds blew and beat on that house; and it fell. And great was its fall. (Matthew 7:24-27)