China Earthquake Tragedy: People Don’t Really Matter
Dave Schuler rounds up several press accounts of the massive earthquake damage in China, which has killed untold tens of thousands of people. Most notable is the number of schools that collapsed, dooming the children inside. He concludes,
It’s not for a lack of money: China is holding nearly a half trillion dollars worth of U. S. Treasury bonds. Why don’t they spend it? I think it’s because of a widespread belief in Chinese officialdom that the people don’t really matter.
Harsh but, I strongly suspect, exactly right.