China Looms

The International Monetary Fund predicts now that China will surpass the United States as the world's economic superpower in 2016, a mere five years away. If you take the IMF at their word, I'd say their number is not too far off, the news is startling.  A few weeks ago, Herman Cain wrongfully asserted that China held 26% of America's debt (it is actually around 8%) but both Mr. Cain and the IMF's numbers are dancing around the issue: that our national debt, the impending national crisis, cannot be ignored for much longer.  Markets have reacted to the news timidly.  People don't know whether now to bank on a financial collapse or to get out of the way for one.