2006/04/05

Ominous Chinese Warning On US Debt

The National Credit CardIn an ominous warning of things to come, Cheng Siwei, a vice chief of the national parliament advised that China trim it's US debt holdings by stopping the purchase of dollar denominated bonds.

Since China, along with other Asian financial powerhouses, are basically financing Bu$hCo's run on the national credit-card, such a move would have profound implications for the US economy.

7 Comments:

We've all seen this coming...and it isn't going to be pretty. One more mess for [insert name of Democratic candidate here] to clean up after 2008.
This is definitely bad news for the economy, but no surprise. Bush should roll back his tax cuts and start paying down some debt, however, I don't expect that to happen. The poor and middle-class will have to endure even more cutbacks in order to keep the money machine oiled.
Jean Dixon, I believe her name was, told a certain president that, "You (we) will fight red China."... Could it be bombs and guns and troops or could it be through sly dealings of the almighty dollar? Time will tell and god help us when, IF it passes...
This is definitely bad news for the economy, but no surprise.

Well, it's not a "policy" yet, just a warning, but I agree with everyone that it's probably coming. The Asian taste for US debt was bound to dry up at some point. Maybe time to start shifting some assets around...
I have been waiting for this shoe to drop. Its really not the oil at this point..its their financial support they can use against us..with much more serious effects.
Looks like the Chinese have us by the bal...oop, I mean our stars and stripes. They own us. And that can't be good for America.
And when China's fully cozy with Persia, with her oil supplies and shia Islam .. well, America isn't losing anything there, no matter what the Nutters fear. How does that lose US capital with China?

We're still loaded with consumers. We ain't likely to run outta them very soon, either. They're as intelligently informed as voters, and twice as numerous, and they're much more profligate in their practices.

But it could happen. No doubt...

Add a comment

Links to this post:

Create a Link