Why Do They Hate Us?

May 29, 2009

[via WSJ]

President Obama was elected on the promise that he would repair our image around the world. He must not have been talking about countries that own our debt.

They wonder — as do we — whether the unspoken Beltway strategy is to pay off this debt by inflating away its value.

How would your credit score look if your creditors were openly worried about your willingness to weasel out of your debt. 600? Less?

If you think other nations hated us under Bush, just wait.

If our government inflates its way out of debt, it may never be able to pay off the moral and honor deficit it will have earned for our nation. What a pleasant world we will all live in then.

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Jon David Kahn “American Heart”