Wednesday, November 19, 2008

Where's the money come from?

So where does all that bailout money come from? Uh China? Yes indeed! The Chicomms loan it to us.

China passed Japan to become the U.S. government's largest foreign creditor in September, the Treasury Department announced yesterday, reflecting the dramatic expansion of Beijing's economic influence over the American economy.

China's new status -- it now owns nearly $1 out of every $10 in U.S. public debt -- means Washington will be increasingly forced to rely on Beijing as it seeks to raise money to cover the cost of a $700 billion bailout. China, in fact, may be the government's largest creditor, period.


The Treasury does not keep records on domestic bond holders. But analysts said China's holdings are so vast that the existence of a larger stakeholder in the United States now seems unlikely.

I am getting confused. We have been taught for decades that the godless Commies sat at the right hand of the devil and would try to destroy us. We won a Clod War with Russia. Now our major creditor is one of the red menace countries. This is what we get with vast experience? Is it time to run for our lives because the Commies are coming (to claim their investments)? Oh, they can’t because they are overextended and are borrowing money from India. Okay, run for lives the Hindus are coming? Nah, we’re all just screwed by vast experience.

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