Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“Democracy and socialism have nothing in common but one word, equality. But notice the difference: while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude.”     Alexis de Tocqueville

March 13, 2009

Quote Of The Day

by Brad Warbiany

Chinese Prime Minister Wen Jiabao:

“President Obama and his new government have adopted a series of measures to deal with the financial crisis. We have expectations as to the effects of these measures,” Mr. Wen said. “We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.”

Sorry, Mr. Wen. Much like the mortgage lenders who have imploded have learned, you shouldn’t lend money to people based on their “stated” ability to repay.

Hat Tip: MichaelW @ QandO

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  1. I think the old adage goes something like:

    If I owe the bank $500, I have a problem. If I owe the bank $5,000,000,000,000 the bank has a problem.

    Comment by Peter — March 13, 2009 @ 3:19 pm
  2. [...] fact, it may already be starting. China is worried about the $1 Trillion they’ve already lent us, but the real key to ending dollar hegemony is to stop lending us [...]

    Pingback by The Liberty Papers »Blog Archive » Is Dollar Hegemony About To End? — March 24, 2009 @ 1:59 pm

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