Chang must have head in sand. China doesn’t buy our debt anymore. They’re worried about the debt they’ve already bought.
Who buys theirs? Us. That just keeps the cycle going like they want.
You’re correct.
Poor Bush had to worry about peddling to the Chinese, Baraq just has Ben and Jack handle it.
Much more accomodating.
The reserve currency is PetroDollars. The Chinese still have to buy US Dollars in order to buy OIL.
That is what I thought, China bailed on us a while back and let the Fed pick up the debt buying.
At some point we will default, the question is how we handle it, a partial default, total government default, total default across the board for public/private debt?