China beotch slaps West . . . says leave my pimp alone.

[BaliBabyDoc]

Nukes . . . what nukes?
It was always obvious this was going to happen. If China refuses to get tough with the toadstool dictator with no resources living on its doorstep, did anyone in their right mind believe they would go along with sanctions against Iran?

BEIJING (Reuters) - China and
Iran expressed support on Thursday for a Russian proposal to resolve Tehran's nuclear standoff, and both said they opposed the threat of sanctions from the
U.N. Security Council.
---
He (Iranian) told later told Reuters that Iran was willing to show flexibility on the issue, but rejected the "language of force," an apparent reference to the threat of sanctions.
---
But China said U.N. sanctions would only complicate matters.

"We oppose impulsively using sanctions or threats of sanctions to solve problems," Kong said.

The comments seemed to contradict the message China gave U.S. Deputy Secretary of State Robert Zoellick, who left China on Wednesday after a three-day visit.

No way, a government that says one thing one day and something totally different a week later?

Zoellick gave a positive assessment of China's role in the nuclear stand-off, saying Washington and Beijing had no major differences on the issue. Kong, the Chinese spokesman, declined to directly endorse that assessment, simply repeating Beijing's general stance.

I think its safe to say the US has ZERO pull in China. I wonder if the whole "you can't own our oil companies" thing has any impact?

 

[GoPackGo]

Maybe the "lets not buy your crap anymore" threat will.

I wouldn't mind that at all.

 

[CaptnKirk]

Originally posted by: BaliBabyDoc

I wonder if the whole "you can't own our oil companies" thing has any impact?

Meanwhile China uses the cash from the US trade deficit to purchase oil markets and companies world wide.
Which curtails our access to that portion of the resource, and we continue to dig ourselves deeper into the hole.

Congresss and their 'Buddies' continue to turn a blind eye on this action, as China prepares to eat us for lunch.

 

[Aimster]

nothing is solved

 

[ntdz]

Originally posted by: GoPackGo
Maybe the "lets not buy your crap anymore" threat will.

I wouldn't mind that at all.

Not only would I not mind it, I'd love it.

 

[sandorski]

ouch.

 

[Todd33]

Originally posted by: ntdz

Originally posted by: GoPackGo
Maybe the "lets not buy your crap anymore" threat will.

I wouldn't mind that at all.

Not only would I not mind it, I'd love it.

Too late, they own our debt, we are in the half nelson, not them.

 

[Genx87]

Originally posted by: Todd33

Originally posted by: ntdz

Originally posted by: GoPackGo
Maybe the "lets not buy your crap anymore" threat will.

I wouldn't mind that at all.

Not only would I not mind it, I'd love it.

Too late, they own our debt, we are in the half nelson, not them.

They dont own our debt you fool.
Besides when push comes to shove who is in worse shape. The guy who owes 2 trillion, or the guy who is owed 2 trillion?

 

[sandorski]

Originally posted by: Genx87

Originally posted by: Todd33

Originally posted by: ntdz

Originally posted by: GoPackGo
Maybe the "lets not buy your crap anymore" threat will.

I wouldn't mind that at all.

Not only would I not mind it, I'd love it.

Too late, they own our debt, we are in the half nelson, not them.

They dont own our debt you fool.
Besides when push comes to shove who is in worse shape. The guy who owes 2 trillion, or the guy who is owed 2 trillion?

You really wanna go there? Keep in mind that this isn't a Debt incurred years ago, but is a growing Debt that's keeping the US Economy going as it is. Also keep inmind that such an action could be considered an act of War or certainly lead to War. Also consider that China is sitting right next to the Middle East and could take it all quite easily, even Iraq from US forces, by sheer numbers alone.

Get your Fiscal situation under control and pay back your Debts. Walking away from Debts are simply not on the table. Besides the worst case scenario above, there are whole other sets of very bad end results of attempting to do so.

 

[Zebo]

Originally posted by: Todd33

Originally posted by: ntdz

Originally posted by: GoPackGo
Maybe the "lets not buy your crap anymore" threat will.

I wouldn't mind that at all.

Not only would I not mind it, I'd love it.

Too late, they own our debt, we are in the half nelson, not them.

They just don't own our debt they own lots of US corps and land - having to spend all that money we're giving them for trinkets somehow - and that ownership begets them political power. They could crash our economy by calling in the loans according to the economist. Course they won't deoes'nt do much good until they fully extracted americans from thier wealth.

 

[rchiu]

Originally posted by: Genx87

Originally posted by: Todd33

Originally posted by: ntdz

Originally posted by: GoPackGo
Maybe the "lets not buy your crap anymore" threat will.

I wouldn't mind that at all.

Not only would I not mind it, I'd love it.

Too late, they own our debt, we are in the half nelson, not them.

They dont own our debt you fool.
Besides when push comes to shove who is in worse shape. The guy who owes 2 trillion, or the guy who is owed 2 trillion?

Oh yeah? not according to this which shows China being the second largest holder of US treasury after Japan. In case you don't know, US issue treasury bond to cover for the deficit.

 

[Todd33]

Originally posted by: Genx87
They dont own our debt you fool.
Besides when push comes to shove who is in worse shape. The guy who owes 2 trillion, or the guy who is owed 2 trillion?

The latest numbers on just who buys and owns Treasury debt, released in late September, showed that foreign investors and central banks have increased their holdings of Treasuries by $1 trillion since Mr. Bush took office. Another $213 billion was bought by the Federal Reserve.

http://www.treasury.gov/tic/mfh.txt
http://bigpicture.typepad.com/comments/2005/10/subsidizing_us_.html

They what they own can be called debt or something else, it matters not what you call it "fool". They are awash in cash and we are in debt. So stop buying Chinese crap, you will put Wal-mart out of business. I'm pretty sure we need them more than they need us.

 

[rahvin]

Originally posted by: Genx87
They dont own our debt you fool.
Besides when push comes to shove who is in worse shape. The guy who owes 2 trillion, or the guy who is owed 2 trillion?

According to most recent estimate they own in excess of 200billion of our debt. Not a large portion of the 7billion we owe but it's enough that the immediate sale of those bonds could do serious damage to our economy and the value of our bonds. Imagine what would happen if all of a sudden we couldn't sell anymore bonds. If we can't sell the bonds the government goes broke, really really quickly.

 

[Genx87]

Originally posted by: rchiu

Originally posted by: Genx87

Originally posted by: Todd33

Originally posted by: ntdz

Originally posted by: GoPackGo
Maybe the "lets not buy your crap anymore" threat will.

I wouldn't mind that at all.

Not only would I not mind it, I'd love it.

Too late, they own our debt, we are in the half nelson, not them.

They dont own our debt you fool.
Besides when push comes to shove who is in worse shape. The guy who owes 2 trillion, or the guy who is owed 2 trillion?

Oh yeah? not according to this which shows China being the second largest holder of US treasury after Japan. In case you don't know, US issue treasury bond to cover for the deficit.

Uh you do realize our debt is over the 7 trillion mark and you are saying China owns 250 billion of that?

That is not what I call owning our "debt".

 

[K1052]

Originally posted by: rahvin

Originally posted by: Genx87
They dont own our debt you fool.
Besides when push comes to shove who is in worse shape. The guy who owes 2 trillion, or the guy who is owed 2 trillion?

According to most recent estimate they own in excess of 200billion of our debt. Not a large portion of the 7billion we owe but it's enough that the immediate sale of those bonds could do serious damage to our economy and the value of our bonds. Imagine what would happen if all of a sudden we couldn't sell anymore bonds. If we can't sell the bonds the government goes broke, really really quickly.

The world financial markets would likely follow us down the toilet in short order once we start to default.

 

[Zebo]

Originally posted by: rahvin

Originally posted by: Genx87
They dont own our debt you fool.
Besides when push comes to shove who is in worse shape. The guy who owes 2 trillion, or the guy who is owed 2 trillion?

According to most recent estimate they own in excess of 200billion of our debt. Not a large portion of the 7billion we owe but it's enough that the immediate sale of those bonds could do serious damage to our economy and the value of our bonds. Imagine what would happen if all of a sudden we couldn't sell anymore bonds. If we can't sell the bonds the government goes broke, really really quickly.

That's not the biggest problem it's when US corporations have nothing to support the US consumer market when credit cards and home equity lines are maxed out primarly due to lower American incomes with the global wage arbitrage they set up. Stock market will crash like 1929, homes will have a 50% vacancy rate and be worthless, America will be a has been.. I'm glad my parent have a chateaux in Montpelier France I can escape the food riots.

 

[Genx87]

Originally posted by: Zebo

Originally posted by: rahvin

Originally posted by: Genx87
They dont own our debt you fool.
Besides when push comes to shove who is in worse shape. The guy who owes 2 trillion, or the guy who is owed 2 trillion?

According to most recent estimate they own in excess of 200billion of our debt. Not a large portion of the 7billion we owe but it's enough that the immediate sale of those bonds could do serious damage to our economy and the value of our bonds. Imagine what would happen if all of a sudden we couldn't sell anymore bonds. If we can't sell the bonds the government goes broke, really really quickly.

That's not the biggest problem it's when US corporations have nothing to support the US consumer market when credit cards and home equity lines are maxed out primarly due to lower American incomes with the global wage arbitrage they set up. Stock market will crash like 1929, homes will have a 50% vacancy rate and be worthless, America will be a has been.. I'm glad my parent have a chateaux in Montpelier France I can escape the food riots.

The world some people live in.

 

[rchiu]

Originally posted by: Genx87

Uh you do realize our debt is over the 7 trillion mark and you are saying China owns 250 billion of that?

That is not what I call owning our "debt".

Ah I see, I guess you are more worried about semantic rather than the problem itself. So unless someone owns the entire 7 trillion, you wouldn't call it owning and you wouldn't worry about it huh.

For the rest of people who knows one or two thing about economics, if China sells the 250 billion US treasury they hold, that's gonna do significant damage to the US dollar value. The devalued US dollar will probably prompt the rest of the world getting off US treasury, equity market, real estate market, and get something else. That's gonna furtuer damage US dollar and cause inflation and lots of instability with in the US economy.

Guess ignorance is a good thing. If you don't know too much, you won't worry about a thing.

 

[Genx87]

Originally posted by: rchiu

Originally posted by: Genx87

Uh you do realize our debt is over the 7 trillion mark and you are saying China owns 250 billion of that?

That is not what I call owning our "debt".

Ah I see, I guess you are more worried about semantic rather than the problem itself. So unless someone owns the entire 7 trillion, you wouldn't call it owning and you wouldn't worry about it huh.

For the rest of people who knows one or two thing about economics, if China sells the 250 billion US treasury they hold, that's gonna do significant damage to the US dollar value. The devalued US dollar will probably prompt the rest of the world getting off US treasury, equity market, real estate market, and get something else. That's gonna furtuer damage US dollar and cause inflation and lots of instability with in the US economy.

Guess ignorance is a good thing. If you don't know too much, you won't worry about a thing.

It isnt semantics, it is a response to what Todd said. He said they owned out "debt". What do you think that means? To me that means they own our "debt" or at least a significant portion of it. Right now they own less than 4% of it whoopie do.

And China isnt selling squat because it would destroy their economy as much as it would ours. A lower value dollar means our products are more attractive in foreign markets and foreign products are more expensive at home. You ever wonder why the EU, SK, Japan, and China have been trying to prop up our overvalued currency for the past 3 years?

 

[rahvin]

Originally posted by: K1052
The world financial markets would likely follow us down the toilet in short order once we start to default.

Absolutely, but what happens when China's economy is large enough that it's no longer true? The world economy may be large enough in 10 years that it's no longer true and then what? I seriously doubt with the spending we are currenlty doing, our future obligations (SS and Medicare) that we are going to be fiscally sound. Congress and the president are mortgaging the future.

 

[ntdz]

Originally posted by: Todd33

Originally posted by: ntdz

Originally posted by: GoPackGo
Maybe the "lets not buy your crap anymore" threat will.

I wouldn't mind that at all.

Not only would I not mind it, I'd love it.

Too late, they own our debt, we are in the half nelson, not them.

They own barely any of our debt, they aren't even the largest debt holder...Not a position of power at all.

 

[fornax]

Originally posted by: GoPackGo
Maybe the "lets not buy your crap anymore" threat will.

I wouldn't mind that at all.

Followed by "we won't finance your wars and drunken-sailor spending any more".

 

[mackle]

How about something underhand like "hey stop selling oil for them dumb bastards and sell them to me...I'll pay a better price and instead of trying to build a nuclear device. I'll you some some already made one to play with.....you can see as my deposite for the oil. So we have a deal...he he..he..(with Chinese accent)".

 

[RU482]

Originally posted by: Zebo
.. I'm glad my parent have a chateaux in Montpelier France I can escape the food riots.

haha, have fun swimming across the atlantic, cause if the fit hits the shan, you won't be flying or boating