China Warns Obama

By now, everyone knows that China holds an enormous amount of U.S. debt. Stated another way....we owe China a ton of money.

China is now concerned that we are just going to continue printing paper money (the government would prefer that we call this inflation) with which to pay them back the $trillion that we owe.

And they have a right to be concerned.

China is the largest holder of U.S. government debt and has invested an estimated 70% of its more than $2 trillion stockpile of foreign-exchange reserves (the world's largest) in dollar assets, Reuters reports. Further dollar weakness, brought on by enormous U.S. deficit spending and near-zero interest rates, would erode the value of China's huge U.S. holdings, as Henry and Aaron discuss in the accompanying clip.

"Most importantly, we hope the United States will keep an appropriate size to its deficit so that there will be basic stability in the exchange rate, and that is conducive to stability and the recovery of the global economy," Wen Jiabao said over the weekend at a news conference in Egypt.

Read full article and watch the video clip here; http://finance.yahoo.com/tech-ticker/article/368426/China's-Premier-Warns-Obama-to-Get-America's-Deficit-to-an-%22Appropriate-Size%22?tickers=FXI,TBT,TLT,PGJ,UDN,%5EDJI,%5EGSPC

If you watch the short video clip, notice how the discussion shifts from simply talking about monetary policy into talking about armed conflict with China.

As the host points out....If we owe China a bankrupting amount of money and China decides to invade Taiwan....what are we going to do about it??...borrow more money from the Chinese so we can pay our navy to go over there and confront China??

Sorry folks,...I hate to tell you this again, but the ONLY way we are going to get out of this unsustainable consumer-society-fiasco which we have created.....is if God has already chosen to keep us around to work his plans for Israel.

If, on the other hand, God is soon going to handle Israel on His own (which the Bible clearly states He will one day).....then we really should get about the business of snatching people from the fire....because selling your neighbor, or the world, on the "American dream".....is certainly going to be a lot tougher sell.

We have squandered the blessings God gave us and instead of being thankful to the master who gave them to us....we have invested them in the "patterns of this world"....which Jesus VERY CLEARLY WARNED US NOT TO DO!

So, if you are reading this and want desperately to go back to the good old days of buying anything we ever wanted and never thinking about tomorrow.....you better start praying for the Stimulus Package to work.

However, if you are reading this and realizing how foolish and disobedient we have been....we had better start praying, "Thy kingdom come, thy will be done, on earth as it is in heaven."