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Zorro

(15,691 posts)
Mon May 25, 2020, 03:58 PM May 2020

Trump's demonization of China puts U.S. in financial peril

Blaming China for the coronavirus might seem like smart politics, but insulting a creditor when the U.S. is running up a huge debt to stimulate the economy isn’t a good idea.

Would you spend your days insulting and demonizing a potential lender when you’re running an operation that needs to borrow incredible amounts of money? Would you also be threatening to renege on the debt that you already owe this potential lender?

I sure wouldn’t do that, and I can’t imagine that you would, either. But that’s what the Trump administration and its fellow travelers are doing with China.

The United States, of course, is running massive budget deficits as part of our attempt to stimulate our economy and limit the financial damage that covid-19 is inflicting on our people, businesses and institutions.

In the last three months, according to Treasury statistics, our national debt has risen by an astounding $2 trillion — that’s trillion, with a T. It’s currently about $25.4 trillion and will rocket upward in future months.

https://www.washingtonpost.com/business/2020/05/22/trumps-demonization-china-puts-us-financial-peril/
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Trump's demonization of China puts U.S. in financial peril (Original Post) Zorro May 2020 OP
If it comes to shove, China will call in its marker. ProudMNDemocrat May 2020 #1
names enid602 May 2020 #4
Understand that just before the Covid hit Wellstone ruled May 2020 #2
China owns a lot of our Debt... ProudMNDemocrat May 2020 #6
Chinese friend told me KT2000 May 2020 #3
Heard a similiar Wellstone ruled May 2020 #7
Funny how they want to get back to The Obama Economy that Trump just took credit for. czarjak May 2020 #5

ProudMNDemocrat

(16,485 posts)
1. If it comes to shove, China will call in its marker.
Mon May 25, 2020, 04:05 PM
May 2020

The American economy will be crushed and the rest of the world will follow suit.

Greater Depression Part II will make the 1929 crash look like Child's play.

 

Wellstone ruled

(34,661 posts)
2. Understand that just before the Covid hit
Mon May 25, 2020, 04:28 PM
May 2020

China,the Chinese Gov was about to start liquidating US Treasuries because of the Tariff's and Trump's Stupid China bashing.

Notice in the last ten days,China has bought several Billions of Pork,Soybeans,and Chicken. Appears to be a Barter Deal. Explains the new 19 billion farm bailout that is about to drop.

So it begins,China turns the screws. And if folks did not see this coming,well,what can anyone say.

KT2000

(20,544 posts)
3. Chinese friend told me
Mon May 25, 2020, 06:27 PM
May 2020

buy what you need and want now. China has had it with that fool and prices will be going up no matter what they decide to do. Just about everything in our stores is made in China.
Plump has never experienced anything like China in his business life. They are centuries ahead of him.

 

Wellstone ruled

(34,661 posts)
7. Heard a similiar
Mon May 25, 2020, 11:44 PM
May 2020

story from a Rellie who used to teach in China pre October and is now teaching in Vietnam.

China is eating our lunch and making us pay for it. They got Trump by the short ones with his Financing of his Projects .

One has to understand,China does not have a system of unemployment insurance and with the Pandemic,millions of people went back to their out lying Villages in order to survive. So now they can better utilize their labor and Factories in a more efficient manner as well as raise prices to offset their losses.

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