Next time a Bushie tells you that deficits don't matter...

[MadProphetMargin]

...ask them if they know WHO is buying all of that debt.

China.

Now, guess what happens if China gets pissed, and DUMPS that debt?

Worst part is, they can do any amount of damage they please, based on how much they dump.

America = China's punk.

That is all.

[KingChicken]

1. Also dollar becomes worthless

We will lose the dollar as the standard reserve currency, debt does matter. Throw those idiots out!

[Jacobin]

2. Tell them they should move to Argentina and they would be right at home

[NewJeffCT]

3. that's not even the whole story

China's currency is currently tied to the dollar at about $1 per 8.125 yuan (pronounced almost like 'ren')... there is a bit of float, but very little.

Right now, China is buying dollars to keep the value of their own currency stable. However, with other exchange rates for the dollar so bad & US interest rates so low, China could be tempted to either let their currency float (unlikely) or restructure it so it is tied to the Euro.

Imagine if they did that? The dollar would collapse like the Mexican peso.

Or, China could threaten that & say back off Taiwan or we send your whole economy into the tank.

[MadProphetMargin]

7. Welcome to the post-American century, slappy. What's FUNNY about

all of this is that these are the same tards who still whine about commies, but they just SOLD AMERICA TO THEM, FOR A TAX CUT!

MPM,
Knows that if you don't laugh, you'll cry.

[NewJeffCT]

11. In the Republican world

Communists from China are now good and promoting capitalism & American culture (Chinese love Hollywood) there helps us, but Communists from Cuba are bad and we can't ever promote capitalism or American culture there.

[ComerPerro]

4. Give them three months, they will come around

Once Kerry is in office, Repugs will once again be isolationists and will start hammering spending.

[DrZeeLit]

5. Is that anything like.... Who's our Daddy?

China!

YIKES!
Just a few scenarios...and I close down.

[MadProphetMargin]

9. It's EXACTLY like that.

[DrZeeLit]

10. I knew that! (and altho that's a smartass answer of mine...

...my sarcasm doesn't make me feel any better about it!
Darn!

[ldf]

6. if we can run up deficits just to line bush and cheney's

pockets...

there is not a damn thing wrong with running up the deficit to fund education, healthcare, rebuild our infrastructure (creating LOTS of jobs), finding an alternative energy source, etc.

and ALL of those issues would result in long term benefits.

of course the war in iraq IS ALSO producing a long term benefit....unlimited recruitment of terrorists.

:grr:

[proud patriot]

8. Bush has put us in Finacially Vulnerable to the rest of the world

Kevin Phillips a republican says so .