Quote:
Originally Posted by OneEyedFatMan
If Countries had credit scores, Tuvalu is probably the only nation on earth that could buy a used car without a co-signer.
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We are in a bad way due to the Liberal policies of the past 80 years of almost continuous one party rule. However, China is sitting pretty because they have a very huge cash surplus. And, how is most of that cash held? It's held in U.S. Treasury notes.
If they were to dump those notes on the market causing the U.S. notes to tank in value, the notes themselves would hit bottom before China could even move significant parts of its assets. They would be stuck holding huge stockpiles of worthless Treasury notes that they themselves had caused to become worthless.
They are smart enough to realize this. They are only "rich" if their number one trading partner is also "rich." Whether we like them or not, we are in a kind of symbiosis with the Chinese - and I certainly like their cooking.
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