The Phaserl


Life in a Modern Debtor Nation

by Bill Bonner, Daily

Amazing how much difference a few years makes. We first visited China in the 1980s. It was an appalling dump. Few cars. Few roads. Almost no decent restaurants or hotels.

Now in Beijing you see large black luxury automobiles everywhere… and modern highways crisscrossing in front of huge hotels and apartment buildings.

The Chinese have made real progress!

Nobody had any money in China in the 1980s. In contrast, today you lose control of your car in downtown Beijing and you are bound to run over at least a couple of millionaires.

“We are very much aware of our extraordinary good fortune,” said a Chinese man in his 50s. “We grew up with nothing. Now we are able to dine in fine restaurants, live in fine houses and travel to other parts of the world.

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1 comment to Life in a Modern Debtor Nation

  • Rodster

    The Chinese used our recipe for wealth. The idiots running our country into the ground are as much to blame as the same idiots voting them into office, over and over again.

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