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Hillary Clinton: China Is Our Banker
EconomicPolicyReview.com ^

Posted on 03/03/2007 9:30:28 PM PST by toaster

...what happened...underscores the exposure of our economy to economic developments in countries like China. As we have been running trade and budget deficits, they have been buying our debt and in essence becoming our banker...I have long argued that a great source of vulnerability is the fact that other countries, including China, own so much of our debt. Today, foreign nations according to the most recent Treasury statistics hold over $2.2 trillion or 44% of all publicly held United States (U.S.) debt with Japan and China alone holding nearly $1 trillion. In essence, 16% of our entire economy is being loaned to us by the Central Banks of other nations. Having so much debt owned by other countries can be economically unsound...

(Excerpt) Read more at economicpolicyreview.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events; Politics/Elections
KEYWORDS: cankles; china; hillary
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1 posted on 03/03/2007 9:30:30 PM PST by toaster
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To: pissant; Antoninus; dirtboy

Hmm. Taking cues from Hunter...?

But seriously though, when's the last time she actually spoke about China?


2 posted on 03/03/2007 9:32:19 PM PST by Ultra Sonic 007 (Vote for Duncan Hunter in 2008)
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To: Ultra Sonic 007

Maybe, when she and her man sold them missile technology.


3 posted on 03/03/2007 9:33:25 PM PST by FLOutdoorsman (Hunter/Paul 08)
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To: FLOutdoorsman

Actually, I thought Marc Rich was her banker.


4 posted on 03/03/2007 9:35:12 PM PST by toaster
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To: toaster

This is the first time a Clinton admits the Communist Chinese bought the Clintons, decades ago..

The Indonesians bought the dropping the Chinese left behind..

Semper Fi


5 posted on 03/03/2007 9:35:29 PM PST by river rat (You may turn the other cheek, but I prefer to look into my enemy's vacant dead eyes.)
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To: FLOutdoorsman

Ah yes.

Open Doors.

Hillary Clinton is the living incarnation of the Roman god Janus.


6 posted on 03/03/2007 9:36:15 PM PST by Ultra Sonic 007 (Vote for Duncan Hunter in 2008)
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To: toaster
She has a lot of nerve talking about China.
7 posted on 03/03/2007 9:37:01 PM PST by Mr. Mojo
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To: toaster

She oughta know. She & her sexual predator hubby sold the nation & WH lock, stock & barrel to the Chinese during their occupation of the WH.


8 posted on 03/03/2007 9:38:43 PM PST by lilylangtree (Veni, Vidi, Vici)
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To: toaster
mmmMaybe we just declare a "Jubilee Year"...That Relegion Thang Ya' Know...;0)
9 posted on 03/03/2007 9:39:09 PM PST by 1COUNTER-MORTER-68 (THROWING ANOTHER BULLET-RIDDLED TV IN THE PILE OUT BACK~~~~~)
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To: toaster

Atually only 20 percent of our debt is in China. 80 percent is held by Japan and Britian


10 posted on 03/03/2007 9:40:58 PM PST by donmeaker (The speed of light is 186,234 miles per second. Not just a good idea, its the LAW!)
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To: toaster
Hillary Clinton: "China Is Our MY Banker"

Fixed.

11 posted on 03/03/2007 9:46:17 PM PST by Mad_Tom_Rackham (Veritas. Gravitas. Ohmygas.)
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To: toaster
This is so disingenuous. It was she and her husband that really pulled out the stops on this very thing.

Now she says it is unwise...sounds like a huge self-indictment to me.

12 posted on 03/03/2007 9:47:46 PM PST by Jeff Head (Freedom is not free...never has been, never will be (www.dragonsfuryseries.com))
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To: Mad_Tom_Rackham

Exactly.


13 posted on 03/03/2007 9:48:38 PM PST by Judith Anne (Thank you St. Jude for favors granted.)
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To: toaster
In essence, 16% of our entire economy is being loaned to us by the Central Banks of other nations.

16% of one year of our GDP is equal to all the foreign holdings of our debt. Not the same thing as 16% of every years GDP, but then again, Hillary isn't very good at math. Or at telling the truth.

14 posted on 03/03/2007 9:49:07 PM PST by Toddsterpatriot (Why are protectionists (and goldbugs) so bad at math?)
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To: toaster

Bill Clinton persuaded Congress to grant China Most Favored Trade status. Wal-Mart, which China says has the same trade impact as some countries, is headquartered in Arkansas. Whether this is coincidence or not I don't know.


15 posted on 03/03/2007 9:51:37 PM PST by Brad from Tennessee (Anything a politician gives you he has first stolen from you)
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To: toaster
"16% of our entire economy is being loaned to us"

Um, no. They own a couple trillion capital sum. Our economy brings us $13 trillion per year, every year. Considering the interest rates we pay on government debt, the existence of the foreign debt only means they are loaning us less than 1% of our economy.

16 posted on 03/03/2007 9:54:39 PM PST by JasonC
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To: toaster

Borrow a little bit of money from a bank and they'll foreclose the moment you default.  Default on a great deal of borrowed money and your banker will make payments for you and insure you don't go under.

The ratio of 2.2 trillion of debt to 13 trillion in yearly GDP is about 16% as she says.  It's the same ratio as $16,000 in debt to someone earning $100,000 per year.  Big Deal!   
17 posted on 03/03/2007 9:55:35 PM PST by HawaiianGecko (Victory goes to the player who makes the next-to-last mistake.)
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To: Brad from Tennessee

You forget Newt was the man pressing for MFT status. Dam.


18 posted on 03/03/2007 10:00:21 PM PST by FLOutdoorsman (Hunter/Paul 08)
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To: Ultra Sonic 007

"Hmm. Taking cues from Hunter...?

But seriously though, when's the last time she actually spoke about China?"

Looks like Hillary took some poll #'s.

And she only stands to gain from this stance. She would gain some conservative votes, but most libs wouldn't vote against her because of this stance, imo.


19 posted on 03/03/2007 10:09:47 PM PST by Sun (Vote for Duncan Hunter in the primaries. See you there.)
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To: toaster; Ultra Sonic 007

Bob Brinker ripped Hillary a new one for economic ignorance today on this topic. We can default on the debt or monetize the debt, i.e. the Treasury prints more money. We're in the drivers seat borrowing money at cheap rates.


20 posted on 03/03/2007 10:09:53 PM PST by neverdem (May you be in heaven a half hour before the devil knows that you're dead.)
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