The B. Hussein Obama Administration, the "smartest people in the room", the calm and detached believers in soft diplomacy, the anti-cowboys, appear to be spoiling for a fight with the United States' single largest creditor, Communist China. It appears that elements of the ChiCom's political class want this fight as well.
While I have no love for Communists, and detest Communist China particularly, I know Obama has no stomach for a military confrontation, which the US would decisively win.
Instead, having bloated the debt markets with cheap US Bonds, Obama will pick a fight with China over currency manipulation. China has the capacity, and may be looking for an excuse, to dump its US debt holdings. If they do so, they will make it impossible for the US to borrow more money in the short term and mid terms.
Because B. Hussein Obama has neither the stomach or the capacity to understand government austerity in such an event, all Obama will be left with is US currency manipulation. Inflation and interest rates with skyrocket, and my prediction of a "Welcome Back Carter" presidency will be fulfilled.
In the long run, the US (or what is left of it) would come out ahead due to the innovative economic thinking of its people, not its government. But, in the long run, we are all dead.
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