Blogging for myself

I have not blogged for a while, in fact I always considered blogging to be a waste of time. As I painfully and slowly mature, I come to realize that its a good tool to structure your thoughts. There are so many things I think throughout the day, however they are in random directions.
By blogging I want to focus my thoughts on one thing a day.
Today I was thinking about how does a nation with a trade deficit of USD 50 billion managed to be a global super-power.

http://www.economist.com/blogs/freeexchange/2010/02/americas_trade_deficit

But then I know so little. Im just an outsourcing professional. That also lead me to think - hey these guys are buying goods and services at a high price. How can they manage that when they have a USD 50 billion deficit. Where do they get the money to buy our services after accumulating a fiscal deficit of USD 1.6 trillion in 2009. (quoting from http://www.guernicamag.com/features/1934/mandelbaum_8_1_10/)

By the third decade of the twenty-first century the cost to American taxpayers of servicing the national debt is scheduled to exceed the entire defense budget.

To answer the question, where did they get the money to revive the sinking economy after 2008 Lehman brothers debacle. What do you do when you want to buy that luxury yacht, after your bankers and CEOs rob you and you dont produce anything but just consume.

Simple answer - Beg, borrow or steal. And why beg or steal when you can just borrow with good intentions. Mind you just good intentions, who can ask you back for money when you have enough nuclear weapons to destroy the wold 10 times over. Who is the biggest lender to US - surprise, surprise its China. We think of US as an ally, and China has been one of the biggest adversaries of India. Where does it leavs us.. you might ask. US may never return the debt, but imagine how much China can twist American policy in case it wants to.

Why does China lend so much to US, so that Americans can buy more chinese goods and that props up the Chinese economy :-). Pretty convoluted for my head, so as to speak.

Any comments?