China Getting Nervous --- the value of the dollar is hitting record lows in world markets.

America can't go broke: We have printing presses that can print as many dollars as the Treasury orders. So we can pay off any debt to China -- or anyone else -- by running the presses faster and longer.

That's what has the Chinese so upset, and why the value of the dollar is hitting record lows in world markets.

When Richard Fisher, president of the Dallas Federal Reserve Bank, visited China recently, government officials there repeatedly asked him whether we would continue to run the presses overtime so that the Fed could buy up all the IOUs the Treasury now needs to sell. The money to fund...

China Getting Nervous --- the value of the dollar is hitting record lows in world markets.

America can't go broke: We have printing presses that can print as many dollars as the Treasury orders. So we can pay off any debt to China -- or anyone else -- by running the presses faster and longer.

That's what has the Chinese so upset, and why the value of the dollar is hitting record lows in world markets.

When Richard Fisher, president of the Dallas Federal Reserve Bank, visited China recently, government officials there repeatedly asked him whether we would continue to run the presses overtime so that the Fed could buy up all the IOUs the Treasury now needs to sell. The money to fund the trillion-dollar deficits that the Obama administration says it will run up in the next decade has to come from somewhere.

Sensible folks at the White House are nervous. They know that the president's plans for huge deficits will require running the presses and driving down the value of the dollar.

Unless, of course, taxes go up. Way up. Which is why there is talk in Washington about a national sales tax.

http://www.nypost.com/seven/06012009/postopinion/opedcolumnists/dollar_downer__china_gets_nervous_171876.htm