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In other news, smallpox has not returned


 

Obama Reassures Countries on U.S. Debt

Maybe it’s just me, but I can’t think of anything less “reassuring” than the President of the United States having to hold a press conference to tell the world his country can pay its debts…


 
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In other news, smallpox has not returned

  1. C’mon Ac, what’s China gonna do; send someone round for the furniture?

  2. …tough job; but somebody’s gotta do it…

  3. As if the sovereign debt of the United States was ever in doubt. The Chinese leadership still has some way to go before they understand capitalism.

    • The U.S. leadership too, apparently

      • Would be the current leadership? Or…??

    • If this was a question of understanding capitalism, do you think it would be indulged by a press conference?

      The problem isn’t “will I ever see dollars”, it’s “how much are they going to be worth”. Japan quietly unloaded its treasuries over the past 10 years, China did the opposite. As they used to say in those Folger’s commercials… let’s see what happens.

  4. As bad as things are, the US is a long way from becoming the Weimar Republic. If the US starts to devalue its currency to pay its massive foreign debt, it’s time to start stocking up on canned goods.

  5. I can’t think of anything less “reassuring”
    …a vote of confidence in the coach from the GM?
    …your military spokesman emphatically celebrating those American dogs are being successfully repelled… from ever closer locations to Baghdad?
    …nah, ‘e’s jus’ pinin’ for the fjords?
    And, CR, get ahead of the curve and start collecting some cans. More and more future American output is pre-owned by the Chinese. Comforting, this is not.

  6. The US can pay it’s debts. Afterall, it still has many trees it can turn into cash. If that fails, it has the most sophisticated killing machines/regime replacement tools (military, CIA, MNC) with access to every part of every country in the world.

    With the Chinese, Japanese and countless other nations depending on (or fearing) the US, think of the continued loans more as tribute, never to be repaid.

    Look at what happened to Iraq when they planned on trading oil in Euro’s (as well as changing their foreign reserves to Euro’s).

    Greenback is a petro dollar, and once that changes, hegemony over. War to replace them at the top. Fun time had by all.

  7. I have thought for years that US was broke and needed the equivalent of Chap 11 process. They burn through hundreds of billions $$$ a year, even in good years with solid growth, but put it on their tab and there is no end in sight. How is US ever going to repay the trillions of $$$ of debt they have accumulated when they have boomers on the verge of retirement, and medicare/pension expenses are about to go through the roof, while continuing to increase debt and borrowing.

    Chinese are right to be worried about the value of their investments. US dollar is not going to be worth the paper it’s printed on soon if Americans don’t get their act together and start balancing budgets and paying off some debts soon.

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