China fears riots will spread as boom goes sour

Guardian ^ | 01/25/09 | Tania Branigan

[Leisler]

Sounds like the old Irish quip of, “Is this a private fight, or can anyone join in?”

[dirtbiker]

There’s the real 9.7 trillion dollar question ... we are in for a rude awakening in DC and it can’t come soon enough for me.

China can't buy any more of our debt, the debt they currently hold is loosing value every second, and they can't unload what they have without wreaking the entire global economy.

All because liberals feel the need to "do something", even if the best thing they can/should do is NOTHING!

As the prayer goes:
Lord, grant me the strength to change the things I can change,
The serenity to accept the things I cannot change,
and THE WISDOM TO KNOW THE DIFFERENCE!

If the politicians in DC are the "best and brightest" among us, we are in DEEP $H*T!

[McGavin999]

So, you have to wonder what idiot decided to funnel all that money to Obamabi? The world hated America and wished us ill, well, they got it. I wonder how they like it?

[Starfleet Command]

There’s the real 9.7 trillion dollar question ... we are in for a rude awakening in DC and it can’t come soon enough for me.

I'll second that. Zero doesn't even understand how bonds finance the Treasury debt. He's going to be completely lost over the effects of a complete failure to sell any bonds.

The US dollar is about to become, literally, worthless.

It will be fascinating watching the different segments of the American population adapting to (or perishing from) a completely new, "non-consumer" paradigm.

[mefistofelerevised]

That’s lice and chop tics. Speak chinese correctly.

[Travis McGee]

When will we find out the name of the Chinese Hitler, and when will we find out the Chinese word for Lebensraum?

[NoControllingLegalAuthority]

Wait a minute! I thought China was an economic miracle set to overshadow the U.S. in its economic success.

Massive layoffs in China? Say it ain't so!

Oh where are Americans going to buy cheap, tainted products now? Where will we buy dog food to kill our pets? Where will we buy toys painted with lead? What's to become of our beloved Wal-Mart? Oh, the humanity.....!

[paristwelve]

Everyone everywhere fears riots about everything.

[blam]

"As Obama ushers in the worst US economy in history who is going to buy all that Chinese junk."

I remember when exactly the same was said about Japanese products.

It was true too.

[blam]

"As I understand it China has been stable by an implicit bargain between the people and the government. "

Mandate Of Heaven

[blam]

"As Zero ushers in his "stimulus package" to "fix" our economy, who's gonna buy all his junk bonds to finance it?"

Ain't nothing going to get 'fixed', White Males fix things and they're giving the money to minorities and women to pay them off for the Obama vote.

No White Male Construction Workers

[blam]

"The world hated America and wished us ill, well, they got it. I wonder how they like it?"

That's what the MSM told you so that you'd elect Obama...worked too.

Now, those voters expect to be paid with more of your tax money.

[screaminsunshine]

When I was a kid made in Japan was a joke. Then along came Honda. That was when the USA was not bankrupt. We are now bankrupt. We can not buy all the stuff on credit. We have no credit. Only what is in our pockets. Not much.

[blam]

"The US dollar is about to become, literally, worthless."

"It will be fascinating watching the different segments of the American population adapting to (or perishing from) a completely new, "non-consumer" paradigm."

Second American Revolution To Begin In 2009?

"Honestly, there is no fix to the card game so long perpetuated against us and our posterity. The collapse is entering free fall status and will only be exacerbated by the impending default of commercial real-estate mortgages. My suggestion; educate your family and friends, buy food and toiletries such as razors and soap. Secure the things your family will need eighteen months from now, not iPods, BlueRay DVD players, plasma televisions, et al. If you have children, heed the advice of Peter Schiff, purchase the shoes and the clothes they will need next year - now, before the Dollar devalues."

The Ant And The Grasshopper

[DuncanWaring]

...when will we find out the Chinese word for Lebensraum?

Phonetically, it's Si Ber Ia.

I don't know how it's actually written out in Chinese characters.

[rb22982]

Actually, the value of US debt is up considerably from a year or two ago. That’s with the long bonds dropping 10% in the last week even. We almost hit a 1 handle on the 10 year a couple months ago.

[rb22982]

What currency are you going to run to? The Euro & Pound are incredibly weak and their banks are in worse shape than ours. The developing countries are getting whacked currency wise-Russia, Brazil, Canada, Aus, NZ are WAYY down and going to drop more and more as demand for raw products continues to crash as the world’s economy goes in the toilet. The only ones that would make sense are the Yen & Yuan and both have already said they will devalue beyond a certain point and China is arguably less stable as a government than the US. The great majority of debt in the world is in dollars and must be paid back with dollars..the dollar is becoming scarcer and we can’t print our way out of trillions of bad debt. Deflation = increasing value of the dollar—just like during the Great Depression.

[rb22982]

Schiff is wrong about the $ devaluing and foreign equities(unless the government completely collapses) but is right about most everything else. He was all about the decoupling for a long time and still is. There is no way safe to sink your dollars into other currencies. Sure, people should stock up on necessities but beyond that—what else are you going to do with your money? Anyone that listened to Schiff is down like 60-80% from a year ago.

[DuncanWaring]

From your "Second American Revolution" link:

As the paper currency RESERVE NOTES become little more than kindling for a fire, coupled with a loss in demand for industrial Silver ... Silver will continue to rise higher against the Dollar for at least the next twelve to eighteen months.

Why would a drop in demand for silver push a price increase?

[blam]

"Why would a drop in demand for silver push a price increase? "

Good question. I don't know.