Friday, Oct 03, 2008
Now You Know Why It Was Such A "rush Job"
Market Ticker CNBC: China Declares Economic War?
Thursday, October 2. 2008
Posted by Karl Denninger at 12:43
(Page 1 of 273, totaling 546 entries) » next page
China Declares Economic War?
Its very simple.
Here it is in 2 minutes. Literally.
""Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen." - Brad Sherman , D-California"
Posted by malct @ 10:52 AM (322 views) Add Comment
3 Comments
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1. watchman said...
I'm probably missing the point but why would the US buy back these bad debts rather than just not borrow any more money?
2. malct said...
hi watchman - hoped someone else would have stepped in by now.
There's loads of background info on this, but in a nutshell the global economic system we all embrace requires perpetual increased borrowing to work.
They, US, probably have to borrow to pay the interest on what they already have borrowed.
3. Fred56 said...
The contributor to Market Ticker is just winding-up the hillbillies. He's putting the frightners on them that the Americans may have to buy back some of the instruments sold during their days of fraudulent misrepresentation. He chooses to say it's paying foreign investors rather than atoning for the American crimes. Just imgaine what it would be like if the Chinese had been flogging dodgy financial instruments to the Yanks? Cruise missile diplomacy.