About the debt thing:
Basically by pushing down rates, the U.S. government is
1) forcing savers (such as myself) to accept much lower interest rates (because we are in competition with the government),
2) therefore, allowing debtors (such as mortgage and credit card holders) to incur much lower costs for their debts - hopefully saving them from bankruptcy.
So, I as a saver, am financing excessive borrowing, not only in the U.S., but around the world. China is in a similar situation as I am.
The reason, we have to accept this is,
1) Both China and I have no choice. There is no alternative places to put our money, that would not be equally affected.
2) It is probably the only strategy to keep the world economy from plummeting into disaster, since there is no way debtors have enough earning power to pay off their debts at higher rates. Massive bankruptcy and the unemployment that would follow would be comparable to the Great Depression.
So, unfortunately, I am again forced to pay for other people's unquenchable desire for "things" and stuff-and-such. But, I have no alternative, unless I want to leave the human race.