I was just listening Charlie Rose and there was Peter G Peterson. I am totally impressed by what he was saying about the Economics. He explained how the foreign lending is weak point of America, how this Foreign lending is giving China and Japan leverage on US. (Gave e.g. of Swiss Canal, where use US used this leverage on France and Brittan).
On Charlie’s question that China and US relationship is considered to be good because many believe China needs consumers of US. Peter replied that If he is hearing Chinese correctly then they are realizing that such relationship is becoming Un-Sustainable, and Chinese are spending huge money to build their domestic consumer market.
I was really impressed here, this concept of unsustainability, where lender recognizes that instead of crushing the borrower in further debt, he should shift it’s resources to make other market.
Then he said US is only Country that does not have Health Care Budget, I was what!
It can’t be. but he said multiple time that we don’t have it and best way to deal with the health crisis will be to make Health Care Budget. Because then Govt. can say that these are somethings which we will not do for you, e.g. medical interventions in last days of life when it does not improve the quality of life, second liver transplant for Alcoholic, etc….
Yes, realities, realities that everyone knows but no one says.