Nouveau dollar-recycling

'Well folks, that’s what happens when you borrow most of the world’s savings to buy their stuff. You give them enough IOU’s, and they start wanting to cash those IOUs for something else. In the name of globalization, this is not a bad thing. Some of you may be sulking that America is selling itself off. A few thoughts here. First, are these foreign entities necessarily getting a good deal? I don’t think so. A lot of American companies are simply loaded up with debt and are facing overcapacity and a slowing economy. You could say that US companies may be making a sucker out of these foreign buyers and sovereign wealth for the second time (the first time is obviously all this defaulted debt).