Not surprising, but China is in process of "liquidating" U.S. treasury paper, of which they hold a large amount. Fellow that wrote the article sees it as a "warning" to U.S. Considering China's requirements to bail out Italy, etc. that have been aired in the past couple of days it seems prudent to keep a weather eye on these folks. Flexing a bit of financial muscle along with the usual posturing all nations love to do. Wonder what the next step is....
I guess I do not understand. Yes, I know China has a lot of US gov paper.
And they will want their money back.
US does not have the money to give to other countries inless they borrow it? They would be nuts to. Who would loan to them now?
Oct they have to say if increase in SS. I can't see how they can do that. They figure however it is they figure and with housing values down it it be like 0 inflation and they will twist it around. Housing, food, clothes. teck stuff, and utilities? Where seniors costs are more food. medical, utilities and gas. How can they give away money to other countries when they can not pay for things at home. I am not expecting any raise. And them having to pay back the borrowed SS funds?
Douglas Adams had it right. "I believe in the interconnectedness of things." It will be rough when it happens, but the bankers and governments are so enmeshed that they can't really maneuver out of the predicament. Hilarious in a sick sort of way, not unlike playing to a stalemate in chess. Seems they can't even grasp fundamental math regarding the economy.
"Make it your ambition to lead a quiet life, to mind your own business, and to work with your hands, just as we told you, so that your daily life may win the respect of outsiders and so that you will not be dependent on anybody."