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Now, in another thread we've been talking about the collapse of the dollar and the U.S. economy.
I wonder how much protest this will cause in the U.S. Congress. Refusing China's attempts to buy productive U.S. assets would most certainly count as an act of default on our debt obligations. So I guess there's a third possibility in addition to honest default and money printing.
Now, in another thread we've been talking about the collapse of the dollar and the U.S. economy.
I wonder how much protest this will cause in the U.S. Congress. Refusing China's attempts to buy productive U.S. assets would most certainly count as an act of default on our debt obligations. So I guess there's a third possibility in addition to honest default and money printing.
The last sentence is classic...
This is a capitalistic world. Capital flows, sometimes inside national border, sometimes outside, big fxxing deal. Loads of people are just plain ignorant. If American companies invest in China, they'll whine about Chinese stealing their jobs. Now Chinese investing in America, they'll whine Chinese buying their asset. (if anything, it's recycling dollar back to the US, which help pay for all the credit card debt as well as all the big macho freedom-spreading military adventures). Make you wonder under what circumstances they would stop the annoying whining.
This is a capitalistic world. Capital flows, sometimes inside national border, sometimes outside, big fxxing deal. Loads of people are just plain ignorant. If American companies invest in China, they'll whine about Chinese stealing their jobs. Now Chinese investing in America, they'll whine Chinese buying their asset. (if anything, it's recycling dollar back to the US, which help pay for all the credit card debt as well as all the big macho freedom-spreading military adventures). Make you wonder under what circumstances they would stop the annoying whining.
Exactly, but whining we'll see. I would love the Chinese to come and build an oil refinery in my state (North Carolina), for example. Could make us a lot less susceptible to the gas shortages from hurricane season. Would employ tons of people.
This is definitely a good thing if they come here with their money.
That's what happens when the Fed creates inflation. Chinese holders want out before they end up holding toilet paper. The best bet is for countries that are being bought up by the Chinese to destroy or steal the assets before the Chinese can get them. Actually i believe that governments will start heavily taxing foreign holders of assets.
Also, I would point out that forgeiner's from the East and Middle East have a rather horrific track record to put it midly when it comes buying US assets.
This is a capitalistic world. Capital flows, sometimes inside national border, sometimes outside, big fxxing deal. Loads of people are just plain ignorant. If American companies invest in China, they'll whine about Chinese stealing their jobs. Now Chinese investing in America, they'll whine Chinese buying their asset. (if anything, it's recycling dollar back to the US, which help pay for all the credit card debt as well as all the big macho freedom-spreading military adventures). Make you wonder under what circumstances they would stop the annoying whining.
Totally agree with you, except the "freedom-spreading military adventures" - they are "fiasco-spreading military adventures" (the Korean War was a fiasco, Vietnam was another one, and now this Iraq nightmare)
Totally agree with you, except the "freedom-spreading military adventures" - they are "fiasco-spreading military adventures" (the Korean War was a fiasco, Vietnam was another one, and now this Iraq nightmare)
I was being sarcastic. That being said, I don't think Korean war was a fiasco at least not until big Mac went all testosterone and crossed the 38th line. I'm of the opinion that war is inevitable and greed is incurable, both our own greed and greed of other people. So we should just flow with it. As long as we could get away with and benefiting from starting a war. Iraq war is a mess not just because the excuse cited by the administration turned out to be bogus (I don't care bogus excuse that much to be honest, politics is a dirty business, if you don't want to be eaten alive, you better learn to play dirty), and it's not just because the whole insurgency thing and trillions of dollars in expense. It's the ripple effect that I concern the most. Iraq war destroyed any hope that the whole nuclear devil could be contained, everybody with half an shred of brain realized after Iraq war that the only thing that could protect you from being labeled evil, invade and occupied is nuclear weapon. Saddam didn't have nukes and did everything he could to convince everybody he didn't have, at least prior to the war. North Korea had nukes, detonated it twice and told everybody with ears that they had nukes, all the macho freedom-spreading warriors just went "puff", nowhere to be seen. The stark contrast is worth more than any "incentive", "recognition" the US or the West could possibly offer. (speaking of nukes, immediately after India and Pakistan detonated nukes and were placed under sanction, I, back then still very young and idealistic, was indignant at them and mocked them for pursuing nukes when it's clear they had less influence than nukeless countries like Germany and Japan. My father calmly pointed out to me that it wouldn't take more than a few years for the US, Japan and Europe to crawl back to India and Pakistan and beg to deal with them which was exactly what happened. I don't think nuclear proliferation is reversible at this point, for better or for worse, future historians will not see the invasion of Iraq as "freedom spreading" commendable endeavor,nor would they go berserk over the cost, blood spilled and lies the war based on, they will probably see it as a crucial, if not the first, watershed moment in the democratization of nuclear weapon, which might lead to world peace based on mutually assured destruction or nuclear apocalypse, I don't know. But I do think there is nothing we can do to change it now)
Exactly, but whining we'll see. I would love the Chinese to come and build an oil refinery in my state (North Carolina), for example. Could make us a lot less susceptible to the gas shortages from hurricane season. Would employ tons of people.
This is definitely a good thing if they come here with their money.
No one is foolish enough to try building a refinery in the USA;it would be a nightmare and take for ever to get the permits. The chinese thou are investing in crude production is other south american countries. They are investign in drilling off the cuba caost.They are investing in all sorts of commodites.
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