Trade credit is the opium trade of the 21st century.

[touchring]

The US is in a trap, it depends on China and Japan to support its government debt, and takes in new credit like cocaine, the money corrupting its officials and elites (wallstreet), while real industries like Detriot rots away.

Question is what will be the ending?

[don]

Re: Trade credit is the opium trade of the 21st century.

You're not suggesting the opium trade has ended, I presume. It's estimated the profits following the Opium Wars were large enough to underwrite the British Fleet. That kind of no-questions-asked black bag funding isn't thrown over the side without a fight.

[touchring]

Re: Trade credit is the opium trade of the 21st century.

You're not suggesting the opium trade has ended, I presume. It's estimated the profits following the Opium Wars were large enough to underwrite the British Fleet. That kind of no-questions-asked black bag funding isn't thrown over the side without a fight.

I'm talking about the addictive aspect of opium. Credit is like opium. Too much of it is addictive and destroys a person (or an economy) eventually.