Here is what our economy needs, according to Hillary Clinton:
Our economies are so intertwined, the Chinese know that to start exporting again to their biggest market the United States has to take some very drastic measures with this stimulus package, which means we have to incur more debt.
Save us, China! But what if China whispers "No." Superstrategist Ed Yardeni makes the case:
Why would the Chinese want to fund our stimulus program, which might benefit them through exports, when they could spend the money on directly stimulating their economy? Do they really want to continue to depend on US consumers for their growth? They are increasingly likely to focus on building their infrastructure and stimulating home-grown demand. Indeed, Premier Wen is scheduled to give a speech tomorrow announcing that the government will expand its stimulus program. The Chinese are more likely to choose to finance their infrastructure than our rapidly expanding welfare state! I guess we are all socialists now.