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  1. #1
    Senior Member AirborneSapper7's Avatar
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    China Sends Obama a Clear Message

    China Sends Obama a Clear Message

    by Tony Sagami 03-17-09

    What would happen if your boss cut your salary, you had no savings, and none of the banks or credit card companies would lend you any money? You’d be in some deep doo-doo, wouldn’t you?

    Well … that’s exactly the situation the U.S. is potentially staring at if foreign governments decide they don’t want to loan us any more money by buying U.S. Treasury and other government-backed bonds.

    And who buys most of our bonds? China and Japan …

    At the end of 2008, China owned $727.4 billion worth of U.S. Treasury bonds. And Japan was second, at $626 billion.

    Japan has drastically curtailed buying U.S. bonds now that its economy is in shambles. But China has been — and continues to be — the most important lender to the U.S., essentially funding a big chunk of President Obama’s $787-billion economic stimulus plan.

    The problem is …

    China is Re-Thinking the Wisdom Of Holding So Much U.S. Debt


    Chinese Premier Wen Jiabao is worried about the stability of China’s huge portfolio of U.S. government bonds.

    Chinese Premier Wen Jiabao, speaking at the closing press conference of China’s National People’s Congress — China’s annual legislative session — dropped this verbal bomb on the Obama administration last week:

    “To be honest, I am definitely a little worried. We have loaned huge amounts of money to the United States, so of course, we have to be concerned. We hope the United States honors its word and ensures the safety of Chinese assets.â€
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  2. #2
    Senior Member Justthatguy's Avatar
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    The real problem here is that China depends on the U S for a lot of it's economic growth because it has a positive trade balance with the U S. If it suddenly pulls out of U S debt it would send the U S economy into a tail spin. Pushing the U S into a deeper recession would hurt them greatly. It might even lead to a depression. That's because who's going to buy U S debt if China doesn't want it? No body. The entire international trade and banking system would be frozen.

  3. #3
    Senior Member gofer's Avatar
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    People have money to HIDE???

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    I have an idea...lets file chapter 7 bankruptcy on them!
    We can't deport them all ? Just think of the fun we could have trying!

  5. #5
    Senior Member gofer's Avatar
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    SOMEBODY needs to tear up the "teleprompter's" credit card!

  6. #6
    Senior Member uniteasone's Avatar
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    Still the thought of a COMMUNIST nation owns us or our debts. All these years the American people have fought communism and yet they are the ones shining through now.

    China was going to lift some bans on buying internationally. They were wanting to start buying more businesses abroad
    "When you have knowledge,you have a responsibility to do better"_ Paula Johnson

    "I did then what I knew to do. When I knew better,I did better"_ Maya Angelou

  7. #7
    Senior Member Bowman's Avatar
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    Quote Originally Posted by uniteasone
    Still the thought of a COMMUNIST nation owns us or our debts. All these years the American people have fought communism and yet they are the ones shining through now.
    China is less Communist than US!!! Look at DC, it's a one party town like Beijing. China also has less regulation than here in the US, and less social public benefits.
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