Very Scary

Discussion in 'Current Events' started by Sinatra, Dec 19, 2009.

  1. Sinatra
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    Sinatra Senior Member

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    China is now aggressively influencing other foreign investors and thus, greatly increasing the pressures on the American economy.

    If the current crop of DC leaders and the Obama White House misstep, the resulting impacts on our economy will be enormous.

    Do we really have faith these Democrats have the understanding and resolve to navigate us through these troubled economic waters?

    ___

    Harder to buy US Treasuries
    Created: 2009-12-18 0:13:35
    Author:Zhou Xin and Jason Subler

    IT is getting harder for governments to buy United States Treasuries because the US's shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said yesterday.

    ...In a discussion on the global role of the dollar, Zhu told an academic audience that it was inevitable that the dollar would continue to fall in value because Washington continued to issue more Treasuries to finance its deficit spending.

    He then addressed where demand for that debt would come from.

    "The United States cannot force foreign governments to increase their holdings of Treasuries," Zhu said, according to an audio recording of his remarks. "Double the holdings? It is definitely impossible."

    "The US current account deficit is falling as residents' savings increase, so its trade turnover is falling, which means the US is supplying fewer dollars to the rest of the world," he added. "The world does not have so much money to buy more US Treasuries."



    Full article here:


    Shanghai Daily | 上海日报 -- English Window to China News
     
  2. xotoxi
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    xotoxi Platinum Member

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    This thread is scary to you only because it is not about Sarah Palin...and without her, you feel lost.
     
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  3. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    I hear you!

    No one takes these US leaders serious

    It is rather ironic that a communist country that is moving toward capitalism knows better about economics than our own leaders.
    :(


    From before in the past,

    Telegraph: US Treasury Secretary Tim Geithner was laughed at by an audience of Chinese after insisting that China's US assets are safe.

    In his first official visit to China since becoming Treasury Secretary, Mr Geithner told politicians and academics in Beijing that he still supports a strong US dollar, and insisted that the trillions of dollars of Chinese investments would not be unduly damaged by the economic crisis. Speaking at Peking University, Mr Geithner said: "Chinese assets are very safe."

    The comment provoked loud laughter from the audience of students. There are growing fears over the size and sustainability of the US budget deficit, which is set to rise to almost 13pc of GDP this year as the world's biggest economy fights off recession. The US is reliant on China to buy many of the government bonds it is planning to issue but Beijing's policymakers have expressed concern about the strength of the dollar and the value of their investments.
     
  4. ☭proletarian☭
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    ☭proletarian☭ Guest

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    I wonder whether anyone ever predicted such a fall...
     
  5. Sinatra
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    Sinatra Senior Member

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    The Chinese have positioned themselves to be nearly as influential on the economic future of America as America itself.

    If we do not get the American economy going again with at least 3 or 4% increased in annual GDP, combined with significant cuts in the size and scope of government, we may very well find ourselves with our economic back broken under the heel of the Chinese boot.

    The current crop of Democrat leaders are doing just the opposite - massive increases in government, and almost no incentive-based economic growth.
     
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  6. ☭proletarian☭
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    ☭proletarian☭ Guest

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    so, basically... China wins?
     
  7. Contessa_Sharra
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    Contessa_Sharra Searcher for Accuracy

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    Wasn't it Nixon that opened the door, LOL???

    AND

    We have been so arrogant and so snotty to everyone for so long.....

    The Chinese, calling them chinks, and slopes, and the "yellow peril" and who knows what else. Does anyone thnk they forgot?

    Did we forget that other people's attention spans are a bit longer than "sitcom time?"

    Did some forget that China was a going concern and had a whole civilization happening millennia before Europe got it together?
     
  8. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    We will never go to war with China. Even so, they will eventually take over and control America. It will be simple to do. If they ever recall payment for all of the money we owe them they will completely control our economy and thus, our country. They are like loan sharks and we keep going back for more of the money on loan from China and they eagerly loan it to us. We're in so deep now that we will never be able to pay the loans off. One day this is going to be a major problem. And with all of this said, you ask if I have confidence in the Obama Administration and our Congress to handle our current financial woes? At the rate they are spending money, they are going to tip the scales over towards the bankruptcy of our country. America is not going to be the most powerful nation on Earth forever. We will, however be, the most powerful Third World Country in the world.
     
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    Last edited: Dec 19, 2009
  9. geauxtohell
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    geauxtohell Choose your weapon.

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    You know what really sucks? We financed the war in Iraq, which I am willing to venture you supported, with loans from China.

    We empowered our future rival for military adventurism.

    But this is all Obama's fault, right?

    China Reaps Benefits From Our 5-Year War in Iraq - Council on Foreign Relations
     
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  10. Sinatra
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    Sinatra Senior Member

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    ____

    I really hope this does not come to pass.

    2010 needs to be an election year that will allow Americans to push back against the Big Government madness...
     

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