applegrove
(1000+ posts)
Send PM |
Profile |
Ignore
|
Wed Oct-12-11 11:29 PM
Original message |
| Clinton on Letterman said that the reason the US has not gone |
|
after china for their currency manipulation is because the US is dependant on China for buying its debt. Thus a trickle down economy (tax cuts) could take place where trade deficits were the norm in the USA. China would buy the debt, the USA would not touch China. I add, all the while the corporations were making money hand over fist.
|
| girl gone mad
(1000+ posts)
Send PM |
Profile |
Ignore
|
Wed Oct-12-11 11:32 PM
Response to Original message |
| 1. As intelligent as Clinton is, he is pretty clueless when it comes to economics. |
|
We have a sovereign fiat currency. We do not need to borrow money, at all, ever.
|
| leftstreet
(1000+ posts)
Send PM |
Profile |
Ignore
|
Wed Oct-12-11 11:36 PM
Response to Reply #1 |
| 2. +1 The Debt Terrorists want us to choke on austerity cuts |
|
Edited on Wed Oct-12-11 11:40 PM by leftstreet
:grr:
|
| dkf
(1000+ posts)
Send PM |
Profile |
Ignore
|
Wed Oct-12-11 11:44 PM
Response to Reply #1 |
| 3. China is already unhappy at our printing money. |
|
They consider it a default.
|
| girl gone mad
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-11 12:43 AM
Response to Reply #3 |
| 5. Then they can stop lending to us. |
|
Edited on Thu Oct-13-11 12:46 AM by girl gone mad
It's very difficult to take that criticism seriously when one considers the fact that China's fiscal stimulus dwarfed our stimulus by many trillions. You must realize that this complaint is coming from a country which expanded its own money supply by 20% annually on average over the last decade. Do you honestly believe they would be eager to sell their dollar reserves? And buy what instead?
Try to think it through logically.
|
| dkf
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-11 01:32 AM
Response to Reply #5 |
| 7. Well that is for the Chinese to be upset about. |
|
Since we don't own Chinese bonds it is not a big deal to us.
|
| tavalon
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-11 03:46 AM
Response to Reply #5 |
| 9. The only thing that keeps them from destroying us in an instant is |
|
that it would crush the whole world and China as well. We've both made Faustian bargains. We are tied in wedded bliss. Well, maybe not so much bliss.
|
| Liquorice
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-11 12:15 AM
Response to Reply #1 |
| 4. When it comes to economics, Clinton's knowledge is second to none. nt |
| girl gone mad
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-11 12:45 AM
Response to Reply #4 |
|
The man is responsible for sticking us with dreadful Rubinomics in the first place.
|
| tavalon
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-11 03:47 AM
Response to Reply #6 |
| 10. Yeah, he fucked us pretty badly |
|
though our current President and Congress aren't doing too badly at encouraging the hemorrhage of jobs.
|
| MFrohike
(210 posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-11 01:37 AM
Response to Original message |
|
China holds less than 10% of US debt. I'm curious how that makes us "dependent" on them.
|
| applegrove
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-11 01:23 PM
Response to Original message |
| 11. Which debt are the chinese buying? The trade deficit debt or the government fiscal |
|
Edited on Thu Oct-13-11 01:24 PM by applegrove
budget debt? Or both? I've forgotten my economics.
|
DU
AdBot (1000+ posts)     |
Wed Apr 24th 2024, 08:51 PM
Response to Original message |
Printer-friendly format
Email this thread to a friend
Bookmark this thread
