FORBES If Republicans Want To Shut Down Washington, They’ll Have To Ask China’s Permission First

[kpete]

Interesting. Saw this headline on Yahoo News.

If Republicans Want To Shut Down Washington, They’ll Have To Ask China’s Permission First

It’s from Forbes.

This paragraph is interesting:

Unbeknownst to Cruz, and seemingly to most of the rest of the Republican party, the creditor nations hold the high cards. If they were to sell just a small proportion of their American assets, they could send Wall Street into a tailspin. They are unlikely to do this but even if they were merely to slow the pace of their buying, bond yields would rocket and stocks could fall 15 percent in the space of a couple of weeks. A key thing here is that American asset valuations are at historic highs — the Standard & Poor’s 500 is on a P/E of 19 and long-term bonds yields are still near their lowest levels in many decades.

I’d bet the Tea Partiers have zero idea that other countries have leverage over the US.

http://www.forbes.com/sites/eamonnfingleton/2013/09/29/if-republicans-want-to-shut-down-washington-theyll-have-to-ask-chinas-permission-first/?partner=yahootix
via:
http://www.balloon-juice.com/2013/09/29/house-gop-fails-tea-party/#comments

[Berlum]

1. Over the last decades the Repubbies sold America up the Yangtze

Thanks a pant load, RepubliWankers.

[libdem4life]

2. Nixon started it...opened up China while taking us off the Gold Standard and floating currencies.

It was called Nixon Shock. Basically set the economy up for boom and bust cycles. Now, essentially, they own us/hold our debt, same thing.

Interesting bit of history... http://en.wikipedia.org/wiki/Nixon_Shock

[abelenkpe]

3. Tea party and republicans have been saying since 2008

that the US could default, the dollar plummet and interest rates would skyrocket bringing on Zimbabwe style inflation if we don't make drastic cuts to government spending and entitlement programs. Yet interest rates have remained low and things appear to slowly be getting better under Obama. How can the right's dire predictions come true? Only if they actually choose to default setting off the spiral of doom they have been talking about.
We can only default by choice. And it is their choice.

[Berlum]

4. The Repubbies do want to take America down

It's the RepubliBagger kristofascist "starve the beast" hate meme. They really do hate America and all that America stands for. They want a Faccist CorporateKristocracy, Inc. and they will crap all over what is good and holy to get it.