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China has 'canceled US credit card': lawmaker
AFP ^
| Apr 30, 2009
Posted on 05/03/2009 4:02:42 PM PDT by george76
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1
posted on
05/03/2009 4:02:42 PM PDT
by
george76
To: george76
We knew it was gonna happen.
2
posted on
05/03/2009 4:03:47 PM PDT
by
Principled
(Get the capital back! NRST!)
To: george76
So will we see dow 4500 in the morning ?
3
posted on
05/03/2009 4:03:55 PM PDT
by
al baby
(Hi Mom)
To: george76
Cancel Chinese imports.
Bring the jobs back home.
To: al baby
This will certainly have an effect on the Dow. A 300 point drop wouldn’t be a shock at all. Gold and Silver are looking pretty good right now.
5
posted on
05/03/2009 4:05:33 PM PDT
by
albie
To: george76
China is simply doing what any other creditor would do when they see that a borrower is maxed out.
But fear not! We will simply print all of the money that we need!
6
posted on
05/03/2009 4:06:02 PM PDT
by
pnh102
(Save America - Ban Ethanol Now!)
To: george76
I don’t think the Chinese cancelled the credit card yet, but they cut the line of credit and probably raised the fees and charges for using it
Apparently Hillary’s diplomatic overtures to China went about as well as every other program she’s tried to manage
7
posted on
05/03/2009 4:06:49 PM PDT
by
silverleaf
(We live in interesting times: now the entire IRS works for a tax evader)
To: albie
8
posted on
05/03/2009 4:07:05 PM PDT
by
al baby
(Hi Mom)
To: george76
Ruh Roh
To: pnh102
“Kirk said he was the first member of Congress to tour the Bureau of Public Debt, which trades bonds, and was alarmed at how much debt was being bought by the US Federal Reserve due to absence of foreign investors.”
10
posted on
05/03/2009 4:08:56 PM PDT
by
patton
(Oligarchy is an absorbing state in the Markov process we find ourselves in. Sigh.)
To: george76
Good! we should not be there anyway, Thanks Bent Bill and GW!!
11
posted on
05/03/2009 4:10:36 PM PDT
by
Cheetahcat
(Osamabama Wright kind of Racist! We are in a state of War with Democrats)
To: george76
If you’ve been following our “bizzaro” market...you’ll know that bad news makes the market go up
12
posted on
05/03/2009 4:13:22 PM PDT
by
demsux
To: george76
I don't blame them for it. They would be suckers to keep buying our debt when they already have nearly a trillion and we show no signs of pushing ourselves away from the trough.
That means of course that our government is subsisting right now on the ability of the Federal Reserve to buy green ink.
13
posted on
05/03/2009 4:13:30 PM PDT
by
Arkinsaw
To: george76
John Maynard Keynes always inisted government debt is no big problem because "we owe it to ourselves"!
I guess we are going to find out, good and hard...
14
posted on
05/03/2009 4:13:42 PM PDT
by
Gritty
(If just printing more money will create more jobs, why isn't Zimbabwe a rich place?-Mark Sanford)
To: Cringing Negativism Network
Why is this China’s fault? its Washington’s fault.
15
posted on
05/03/2009 4:14:16 PM PDT
by
omega4179
(Boycott government communist tractor factories!)
To: omega4179
I didn’t say whose fault it is.
I suggested a response.
To: albie
The first thing you should see is the interest rate on Treasury bills, bonds, and notes go up.
THEN the stock market will go down, because the cost of borrowing will be higher for private business as well.
To: george76
Correction, that is Obama’s Credit card being Cancelled.
Americans do NOT want to spend Trillions on Building a Bigger Nanny Government....A Obama Government that uses “Flu” to Scare Americans, and a Government that uses “Scare force One” to fly around New York scaring New Yorkers, and wants a 3.5 Trillion dollar Deficit on Credit.
Americans would cancel that Credit Card if our Representatives would ask.....Thanks, China.
18
posted on
05/03/2009 4:16:51 PM PDT
by
4Speed
To: omega4179
Why is this China’s fault?
its Washington’s fault. Agree
John Maynard Keynes has lead us off
the Cliff of Debt
To: demsux
“If you’ve been following our “bizzaro” market...you’ll know that bad news makes the market go up”
Was like that under Clinton also. My husband said back then, Then markets climb a wall of worry.
20
posted on
05/03/2009 4:19:24 PM PDT
by
blueyon
(It is worth taking a stand even if you are standing alone!)
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