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...

[Dixie Yooper]

Maybe Hillary and her fellow Senators on both sides of the aisle can stop finding new ways to spend all the money we have to borrow.

[libs_kma]

"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."

She always does this same exact thing. She even caps on the terrorists when its the politically expedient thing to do.

Knowing full well that her rapist husband pardoned more terrorists than he ever caught. He pardoned terrorists in exchange for Beast votes, but for money paid to Beast brothers he pardoned drug dealers and tax cheats.

[OldFriend]

Her heinous made an appearance on CNBC and her total ignorance of economics was there for all to see.

Her appearance was universally panned by the right....of course, but the left as well.

[Mia T]

hillary clinton: 'China Is our banker'

Is this a joke?

Better question: Is hillary clinton a joke?

STALINIST RISING?
HILLARY CLINTON ABUSE OF POWER
(WHERE IS THE UNREDACTED BARRETT REPORT ANYWAY?)


WHY HILLARY'S MAGICALLY APPEARING THESIS IS LIKE CLINTON'S FOLEY HIT
(and not like her Rose Law Firm billing records)


HILLARY! Can a chintzed-and-powdered villain win the White House?
LEADING INDICATORS SAY 'NO'
MISSUS CLINTON'S SATURDAY NIGHT LIVE PROBLEM - PART SIX
CLINTON-GEFFEN IMBROGLIO-PART SIX

[Brad from Tennessee]

Thanks. I figured something like that.

[BfloGuy]

True but dubya has been doing a lot of business too with China the trade deficit has gotten even bigger.

Dubya hasn't been trading with China, WE HAVE!

Millions and millions of Americans each find it in their own best economic interests to buy Chinese goods from time to time. These are not transactions conducted between governments, they're business deals transacted between people.

And if we each see fit to spend part of the profit we make from our own work on foreign goods that cost less, then what can possibly be economically bad about it? It leaves us extra money to spend here.

[Jason_b]

In one sentence you were talking about default and inflating.

I was responding to that sentence.

Now I see you wrote, "We're in the drivers seat borrowing money at cheap rates."

So ok. It is cheaper to borrow from foreign central banks than to borrow from our own.

It's all credit anyway, unbacked, and unlimited.

It reminds me of the the old quote:

“Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it [the power to create money] away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."

Sir Josiah Stamp - Director of the Bank of England (appointed 1928) Reputed to be the 2nd wealthiest man in England at that time.

[neverdem]

Like Hillary, you're missing the point. We're using their money at a minimal rate of interest in lieu of raising taxes. Hillary's solution is to raise taxes. Do you agree with Hillary? P.S. The RINOs in D.C. couldn't cut spending. That's one reason, among others, that they have been regretably returned to minority status.

Bob Brinker is on this early this evening from 4 - 7 PM EST. Check him out. He may discuss Hillary's remarks some more.

[ColdSteelTalon]

These are not transactions conducted between governments, they're business deals transacted between people.

You are so naive. Free trade without real restrictions is killing our country. Don't feed me the line of bull that buying foreign goods helps American jobs. Manufacturing is just about gone and in 10 years our passenger aircraft will be built in China too.

The only jobs left for Americans will be service jobs.

We will be cutting each others hair and selling each other pizza.

Oh and working government jobs collecting income taxes.

[Toddsterpatriot]

Free trade without real restrictions is killing our country.

What is your proof it's killing us? Is it the 4.6% unemployment rate? Maybe our +3% GDP growth?

Manufacturing is just about gone

LOL!

I guess if "just about gone" means we made more than China and Japan, combined in 2005, then you're right.

The only jobs left for Americans will be service jobs.

Yeah, I miss working in a factory instead of in a nice air conditioned office. I'll bet working on a farm 16 hours a day was a lot of fun too. Why aren't you whining about all the farm jobs we lost over the last 120 years? Yet, somehow, we produce more food than ever.

We will be cutting each others hair and selling each other pizza.

I like pizza and haircuts. Maybe you have a useful skill? Perhaps you'd share?

[1COUNTER-MORTER-68]

bttt