I guess it belongs to the capitalist system.
But sad thing that America has sunk to such a situation.
Who dares to lend money to a country which is unable to pay its debts?
You're absolutely correct, who dares?
Today's form of capitalism as practiced is much different than the capitalism of yesterday. Think about it, we (America as an economic power in the world) have very little to offer in the form of finished goods, how can you possibly be enjoying the benefits of capitalism when your nation no longer produces finished goods?!! You can't!
Even worse, the few manufactured goods we do produce in America are largely assembled with foreign manufactured components by the cheap unskilled labor handiwork of dually citizenship entitled foreign workers who send much of their hard earned money back to the country for which they hold greatest loyalty.
The truth of the matter is, the capitalism (as a form of economics practiced in America today) has morphed into a system that our grandfathers would not recognize, the whole scheme is a disaster in the making... and if you think it's occurring by happenstance, I got 4 blocks in Manhattan for sale... a million each obo. The true superpowers of the future are going through industrial revolutions at the moment, it will be interesting to see how things play out down the road... China, India, Korea and a handful of others.... I hope it all works out for the best! :shy:
Yep ....things change in this world and capitalism is no exception. We're now a consuming debtor nation, not a producing nation. Not good.... at all!