Exactly, Leturm. And not just since Robert Newman included it in his show
Subman, I have given up to tell Americans that their economy is very fragile and depending on eternal pumping foreign finances into it'S system, which simply will stop one day, one way or the other, and probably earlier than later. Practically all of the major Arab oil producers in the past two years have thought loud in public about turning from dollars to Euros concenring their oil deals, and only intimidation and lucrative weapon deals - deals with some of your and our most unforgiving and determined enemies: figure where this stupidity will lead us - have kept them from getting serious about it. China you cannot dictate anything anyhow, their reserves hang like a damocles sword over your country - that's why they collected them in all silence, and with patience while you were sleeping and asked for another luxury good. You overestimate their economical vulnerability tremendously.
This is not the WWII era anymore, American economy is not strong by itself, but heavily depending on nobody ever touching the status quo of infinite foreign money transfer into your system, which is, if you only look honstely at it, a very stupid and wasting way of economical business. But trust is fading, and revenues for foreign investors become more and more a question mark, due to your fantastic deficits and debts with all the consequences coming from that, substantially as well as psychologically.
Or to put it all short: you are extremely vulnerable, and do not want to realize it.
So I just sit and hold my mouth and watch you crazy people racing against the concrete wall with your eyes wide shut, sicne you will not listen to others anyway (like always, it seems). but don't dare to complain afterwards that nobody warned you. Outside the US, there are not really just few voices predicting exactly this scenario,and warnings of investing into greater and greater parts of the American market since quite some time now have found entrance into the customer briefings of bansk and investement institutions in Europe - your repuation is noi lponge rbeyond dohbt, the trust your finacial power once enjoyed, is decreasing. If you think the light (!) symptom of the recent mortgage problems are the heart of the expected storm,and the better part of it already is over, then I tell you different - it is just a soft and gentle pre-vibration to the earthquake your unhealthy finances are heading for. Think of it as the deep breath before the storm, and it will come in one year, or two, or five, but it is constantly gathering. You can't eternally live on tick and expect that everybody gets fooled and joins you for his - imagined - own interest forever. Currently you try to talk everybody to join you in the trap you are in, hoping that if he sits with you inside of the trap, he will not turn against you for self-interest. But there are more and more signs that this cheat has worked for the longest time. From Southamerican rebellious spirit over the strong Euro to the growing doubts about the currency for oil deals in the Arab sphere, and finally the rise of China: the signs are there that you may need to excpect to get massively hit sooner than you may fear. It is only a question of time until someone not meaning well with you anymore, or not trusting in the bubble anymore, calls your cards - and then you see that bluffing alone does not really beat a good hand. And the Chinese hold the strongest cards, followed by Europe.
interestingly, all economies of the major powers and empires of the past 2500 hundred years, from Athens over Rome to the european powers, suffered from this very same mistake and arrogance: to allow to centralize all flow of goods and finances and steer this stream of luxury into the heartland of the empire, by that enjoying the luxury from that - but at the same time becoming more and more dependant from the outside and the perimeter of the empire, from that becoming financially and often economically weak and weaker, and from that loosing more and more degrees of freedom to act - in case of several European powers in the past 500 years needing to reboot their finance systems from zero (Spain, Holland, France). You repeat the very same mistake that several times have been demonstrated by other powers before!