Hillary Clinton: China Is Our Banker

EconomicPolicyReview.com ^

[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...

[Ultra Sonic 007]

Hmm. Taking cues from Hunter...?

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

[FLOutdoorsman]

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

[toaster]

Actually, I thought Marc Rich was her banker.

[river rat]

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

[Ultra Sonic 007]

Ah yes.

Open Doors.

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

[Mr. Mojo]

She has a lot of nerve talking about China.

[lilylangtree]

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

[1COUNTER-MORTER-68]

mmmMaybe we just declare a "Jubilee Year"...That Relegion Thang Ya' Know...;0)

[donmeaker]

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

[Mad_Tom_Rackham]

Hillary Clinton: "China Is Our MY Banker"

Fixed.

[Jeff Head]

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.

[Judith Anne]

Exactly.

[Toddsterpatriot]

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.

[Brad from Tennessee]

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.

[JasonC]

"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.

[HawaiianGecko]

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!   

[FLOutdoorsman]

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

[Sun]

"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.

[neverdem]

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.