OK what would we do without the Commies? We sold our manufacturing base back in the 80's impoverishing our blue collar middle class. Now it comes home to roost. Print money is all we have left. Don't worry, this is not the big bust. That comes when China's economy collapses....
24/7 Wall St.: Will China Save The US Financial System
24/7 Wall St.: Will China Save The US Financial System
Will China Save The US Financial System
China
When it comes to the potential failure of the US economy and banking system, China has an especially large dog in the fight. The central government and a number of large banks own hundreds of billions of dollars in US Treasury notes and paper from companies including Fannie Mae (FNM) and Freddie Mac (FRE). An American disaster could turn into one for China as well.
According to Reuters, "speculation is swirling that Beijing could also chip in with a vote of confidence by pledging to hold onto its vast dollar assets and even buy more to help fund the massive bailout of the U.S. financial system now under way."
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