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2009-05-03 18:13:50
Harmor
Error_Name_Not_Found
+605|6850|San Diego, CA, USA
'China cancels America's credit card'

Tje Hedge Fund Implode-o-meter wrote:

2009-05-02

China, wary of the troubled US economy, has 'canceled America's credit card' by cutting down purchases of debt, a US congressman says.

...

... data from the Treasury Department shows that investors in China have sharply curtailed their purchases of bonds in January and February.

"It would appear, quietly and with deference and politeness, that China has canceled America's credit card," Kirk told the Committee of 100, a Chinese-American group
more...

Comment: Get ready for inflation up thw wassue as the Fed prints money to buy our escalating debt and has to raise interest rates to generate revenue.

\o/
2009-05-03 18:17:48
AussieReaper
( ͡° ͜ʖ ͡°)
+5,761|6454|what

lol you could see this coming. It was actually a self fulfilling prophecy, China thinks the US isn't performing well, stops buying up US debt, and so the US dollar free falls.

You're going to be held at ransom for some time to come. Get used to it, unfortunately.
https://i.imgur.com/maVpUMN.png
2009-05-03 18:18:20
Catbox
forgiveness
+505|7017
they are as screwed as us if they do... We buy a lot of their products... if we have no money to buy... they don't sell any products...
I think there has to be a new age of accountability... If not we all lose...
Love is the answer
2009-05-03 18:34:12
Turquoise
O Canada
+1,596|6706|North Carolina
I'm not too worried about this.  However, we should expect China to shift some of its trade away from us and toward Europe now.
2009-05-03 18:42:30
LividBovine
The Year of the Cow!
+175|6681|MN
This fits perfect with their push for a global currency.  They can take the hit economically, and will be ahead in the end.  Can't make a chinese dumpling without cracking a few eggs.
"The President does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation" - Barack Obama (a freshman senator from Illinios)
2009-05-03 19:00:43
Kmar
Truth is my Bitch
+5,695|6902|132 and Bush

[TUF]Catbox wrote:

they are as screwed as us if they do... We buy a lot of their products... if we have no money to buy... they don't sell any products...
I think there has to be a new age of accountability... If not we all lose...
1.3 billion. As their economy grows they will become their own consumers.
Xbone Stormsurgezz
2009-05-03 19:12:57
Protecus
Prophet of Certain Certainties
+28|6823

Kmarion wrote:

[TUF]Catbox wrote:

they are as screwed as us if they do... We buy a lot of their products... if we have no money to buy... they don't sell any products...
I think there has to be a new age of accountability... If not we all lose...
1.3 billion. As their economy grows they will become their own consumers.
Not only will they become their own market base, our interest in their products are likely to increase rather than decrease.

As money becomes shorter and shorter and everything else becomes more expensive, think people will run to American made products? Chances are Walmart and cheap chinese products will come out on top. From their perspective, its a win-win.
2009-05-03 19:18:46
Kmar
Truth is my Bitch
+5,695|6902|132 and Bush

I know right...

Explained this about fifty times in this forum but some people don't want to hear it. We've got to start producing more.
Xbone Stormsurgezz

 

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