If China Forecloses (loan, percentage, debt, buy)

[oregonwoodsmoke]

My son was cursing as he was trying to get Chinese made fence staples driven into a fence post.

He says the joke is on China. They are laughing as they loan the USA lots of money to buy their worthless junk. But the joke is going to be on them when they foreclose and their new aquisition falls into ruins because the cheap junk nails, screws and fastenings bought from China fall to pieces and whatever they were supposed to hold together tumbles down.

[pie_row]

Default looks like this we hand them a check for the money we owe them. Printing the debt down is what it is called.

[txgolfer130]

More hyperbole. China has loaned us a LOT of money, but by comparison to our largest debtor is chump change.

And the problem is, not that your son can't hammer a Chinese nail...but why is he buying Chinese nails and then complaining.

We want things cheap, and then try to complain when those cheap things fall apart. Just don't buy the cheap, poisonous damn things in the first place.

problem solved.

[texdav]

Originally Posted by oregonwoodsmoke

My son was cursing as he was trying to get Chinese made fence staples driven into a fence post.

He says the joke is on China. They are laughing as they loan the USA lots of money to buy their worthless junk. But the joke is going to be on them when they foreclose and their new aquisition falls into ruins because the cheap junk nails, screws and fastenings bought from China fall to pieces and whatever they were supposed to hold together tumbles down.

Its not really the governamnt by ut chinese workers money who save at about 40% rate.people have been buyig vhiese goods for deacdes. i can remmber when it was japanese junk but not any more since they supassed the big 3 in car reliability. I just a few deacdes after amkig thinsg from US scape meatl after WWII.We may not be lughing last from history.

[chuckmann]

Originally Posted by oregonwoodsmoke

My son was cursing as he was trying to get Chinese made fence staples driven into a fence post.

He says the joke is on China. They are laughing as they loan the USA lots of money to buy their worthless junk. But the joke is going to be on them when they foreclose and their new aquisition falls into ruins because the cheap junk nails, screws and fastenings bought from China fall to pieces and whatever they were supposed to hold together tumbles down.

Actually the joke will be on us when the Chinese take over the machinery of American government, complete with a huge fleet of drones to spy on us and take out those whom the new masters identify as undesirables.

How them Chinese lessons coming?

[stoutboy]

Don't blame the Chinese. They're not the ones raking it in from their cheap merchandise. It is the US multinationals who contract the manufacturing there then sell the stuff here who accrue the lion's share of the profits. In any case, China won't dare foreclose: as long as YOU keep buying.

[chuckmann]

Originally Posted by stoutboy

Don't blame the Chinese. They're not the ones raking it in from their cheap merchandise. It is the US multinationals who contract the manufacturing there then sell the stuff here who accrue the lion's share of the profits. In any case, China won't dare foreclose: as long as YOU keep buying.

Hmmmm... Iphones, Ipads, Ipods are cheap junk? How about all that high end data communications equipment that is supplying some major percentage of the US telecom infrastructure? Not to mention all them Android smartphones I see in the wireless stores these days?

[oregonwoodsmoke]

Originally Posted by txgolfer130

And the problem is, not that your son can't hammer a Chinese nail...but why is he buying Chinese nails and then complaining.

.

He is buying Chinese made fence staples because there are no longer any American made fence staples to be purchased. They aren't made any more.

I have to drive 120 miles in each direction to buy American made fence wire, and can't get American made rabbit wire any where in the state. I used to drive 50 miles each way to buy American made screws and nails, but that store no longer carries them because they can't find them to buy. So sometimes, there is no alternative to buying Chinese.

To top it off, the Supreme Court has ruled that if it is assembled in the USA out of foreign made parts, it can be labeled as "Made in America", so even buying "Made in America" will not save you from dysfunctional metal.

USA made steel was the best in the world. Are there even any foundries left in the USA?

[Willy702]

Man the dumb threads never stop here do they? How do you foreclose on a debt when the payments are current? What do you foreclose on when there is nothing in the debt issue pledging anything but a theoretical share of future tax revenues?

[pie_row]

Originally Posted by Willy702

Man the dumb threads never stop here do they? How do you foreclose on a debt when the payments are current? What do you foreclose on when there is nothing in the debt issue pledging anything but a theoretical share of future tax revenues?

Not even that. All you have is an IOU for USD. Federal Reserve notes are IOUs for dollars as well. You trade T-bills for Fed note 1 for 1. All you have to do is to write them a darn check. Print the money. Our debts are valued in our currency and the world’s reserve currency is our debt.