If China pulls the trigger its only because America gave them the gun (and ammo) to do it. Our seditious trade policy created a Giant - and destroyed Americas Middle Class. Now, our reckless spending has left us vulnerable to the whims of a second rate Country. To hear some of you rail against the Chinese as if somehow their rise to power was inevitable or their economic clout unavoidable - pure idiocy. If we hadn't given them our wealth or maxed the nations lines of credit, we wouldn't be in this mess, would we? America is run by Corporate interests. They lobbied hard to bankrupt the Country - and won. Wall Street pimped Americas economic demise as the "next big thing" - exporting Americas jobs while enriching her enemies. Now, we have only ourselves to blame when this entire house of cards collapses on itself. After all, wasn't it the Chinese who forced us to print M3 into the stratosphere??? If housing goes south and the Fed doesn't hyper inflate, it could be a depression. Our entire manufacturing base - save Defense - is gone. Try recycling wealth locally when every dollar spent goes overseas to pay for essential goods. Hyper-inflation is the only way out if it gets bad. And that will pretty much destroy the wealth and savings of the average American. GOD BLESS AMERICA!!
We can call it confiscation, but foreign buyers of US debt will call it default. I can't think of a faster way to turn the US into a third world country than to default on our debt obligations, no matter what the political justification. What, are you joking? Most of what we send to China is scrap metal, waste paper, and broken electronics for recycling. And the only reason we send that shit to China is that the containers would be going back empty otherwise. China needs us... to buy their shit. That's all. Our entire consumer economy? You guys, all this posing about Communist China is a crock. The shoe is on the other foot and the reason is debt, public and private. We have sold ourselves out, and if we want to be able to give the Chinese the finger, first we're going to have to raise taxes, pay down the debt, and buy back our own country from them. There's a time for cowboy diplomacy and that's when you're not in debt up to your eyeballs. I don't like it any more than you do. But I didn't vote for George W. Bush and his tax cuts, either. Martin
Exactly. The USA is looking more and more like the Soviet Union every day. A military giant backed by a rotten economy slowly bleeding in an unwinnable war. And most citizens totally clueless about the situation. Hey bozos, China-bashing is not going to solve any of your problems, it's only making them worse. Look at the mirror to find the true solution.
Yep, you're so right there. And most of its citizens so easily swayed and influenced by the flag waving propaganda - a la the Soviet Union.
To compare the US to the Soviet Union is pure, raw stupidity. If only those of you claiming it were around to experience the real Soviet Union, you would understand how completely fucked your analysis is. These type of threads - the ones where wars between superpowers are discussed - always bring out the wackos and tin foil hats.
China is in a far better position financialy to weather the storm of any fiscal crisis... http://money.cnn.com/2006/03/03/news/international/chinasaving_fortune/ The numbers leave little doubt as to the extraordinary contrast between the two economies. Last year China saved about half of its gross domestic product, or some $1.1 trillion. At the same time, the U.S. saved only 13% of its national income, or $1.6 trillion. That's right, the U.S., whose economy is six times the size of China's, can't manage to save twice as much money. And that's just looking at national averages that include saving by consumers, businesses, and governments. The contrast is even starker at the household level -- a personal saving rate in China of about 30% of household income, compared with a U.S. rate that dipped into negative territory last year (â0.4% of after-tax household income). IMHO the government of China is in a far better position to Do What Is Needed and the people far more likely to handle any major downturn compared to the Americans who have had it so good for so long and cant fathom any drop in lifestyle.
Cheap Nike shoes??? People are so scared of China for some reason. They have 1 billion mouths to feed; 1 billion people that want gainful employment. China is more reliant on our dollars then we are on their Nikes.... we created Microsoft, Google, GM, Ford, Coke and GE. What has China developed - or India for that matter? It's easy to walk the path when someone has already cut the weeds down for you. Free markets run on speculation - equities are priced for possible future developments or innovations a company may produce. If China were a stock, I would be selling uncovered calls day and night for the next 5-10 years... Bush is not a bright bulb by any stretch, but there is enough grey-matter in his administration to crush China's economy right now. This is chess, not football. Sometimes moving backwards provides for a better position.
You obviously didn't read my entire posting before your innane response. Another indiscriminate knee jerk US basher with nothing interesting to say?