China will increase interest rates “around next spring” when inflation will climb to as high as 5 percent, economist Meng said. Inflation will quicken to 1 percent toward the end of this year and for the whole of next year will average 3.9 percent, he predicted.

This note on China was taken from the preceding post. What will the U.S. do? How will they cope with rising inflation? If interest rates rise how do they handle their massive debt? How will homeowners cope with rising interest rates. I remember in the early 80's my house mortgage jumped from 9 1/4 % to 23 1/2 %. Imagine even mortgage rates double to-day? Foreclosures galore - TOTAL DISASTER