Funny how that works.
I’ve argued for a while now that China is actually fascist. In many ways, it doesn’t matter what the label is, I suppose.
“And they’re also lending us the money to ruin ourselves.”
Sure they own over a Trillion in our Treasuries but personally I am not bothered by their owning it (I am more concerned by the over all level of our debt).
There is a phrase in financial circles which says, “If you owe the Bank a million dollars and can’t pay it back you are in trouble. But if you owe the Bank a billion dollars and can’t pay it back the Bank is in trouble.
In this case China is the Bank and we are the borrower. WE are still the safe haven for the currencies of the world in the event the sh*t hits the fan and any attempt by the Chinese to dump the trillion plus in Treasuries will be depress the selling price and hurt the Chinese while allowing us to buy them back at a discount.