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How do you suppose the Chinese will enforce such demands(seizure of American assets and land)? Invasion is the obvious answer(or nuclear attack I suppose), and that would obvious carry far greater costs than the couple hundred billion dollars the US owes the Chinese.
Are you suggesting that China would start a nuclear war over this? Think again. China can't do anything if we decide not to pay.
i don't think china would start a nuclear war either, since their economy is, at least temporarily, on the rise with their government spending in place.
unfortunately, what china can do is stop buying our treasuries and stop "funding" our lifestyle. that would certainly surprise a lot of government officials and a lot of americans.
n fact, this is exactly what's happening. US is printing money like crazy and dollar will eventually become worthless.
I just hope the S doesn't hit the fan in the next 20 years. I'll probably be dead by 2029 and then it's the next generation's headache to contend with.
Perhaps some of you should do some research on the Federal Income Tax Laws. If you do you will find that the American People are directly responsible for the debts of the Federal Government. That’s right; government debt is backed by the citizens. Puts a little different perspective on the subject, doesn’t it.
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unfortunately, what china can do is stop buying our treasuries and stop "funding" our lifestyle. that would certainly surprise a lot of government officials and a lot of americans.
Sure and if they do, the Yuan will zoom to the sky, their export market collapses and the Communist dictators have a big big problem with the billion+ people there, with no constitutional rights, who can't be sustained without out it. It would cause a lot of issues for the USA as well, but it's something we need to happen.
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