Short seller Jim Chanos is well known for his negative assessments of China, especially Chinese real estate. One of his more colorful expressions about China's economy is "the Chinese are on a treadmill to Hell." We're sure the Chinese don't mind criticism from Chanos ? or anyone else ? as long as it convinces as many non-Chinese as possible that China has massive problems and represents no threat. From that point of view, kudos to Chanos.
Unfortunately, that expression really applies to the West, and to the U.S. in particular. Step back and look at the amount of money we continue to pump into our economy. Look at the national debt as it surpasses $14 trillion ? with a t. Look at the multibillion-dollar deficits that we now battle to bring under control.
Billions of dollars continue to flood into our economy, courtesy of the Fed's program of quantitative easing,
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