Debt Limit Follies: China Learns Not to Trust Republicans - FDL

[WillyT]

Debt Limit Follies: China Learns Not to Trust Republicans
By: Phoenix Woman - FDL
Friday June 10, 2011 1:08 am

<snip>

Buried at the very bottom of this story about China’s reading the Riot Act to Boehner and Company over the debt limit (as in: Stop it already, morons!), we find this: http://www.reuters.com/article/2011/06/08/us-usa-debt-bondholders-idUSTRE75718320110608

Yuan Gangming, a researcher with the Chinese Academy of Social Sciences, a government think tank, smelled some political wrangling behind the U.S. debt debate as the 2012 presidential election draws nearer and said Republicans “want to make things difficult for Obama.”

But with time running short before the U.S. Treasury exhausts its borrowing room, Yuan said default was a real risk.

“The possibility is quite high to see a default of the U.S. debt, which would harm many countries in the world, and China in particular,” he said.

Remember when Republicans like Mark Kirk (see photo above) were working to hamstring Obama on a bigger stimulus package by essentially telling the Chinese leadership not to loan the US any more money now that Obama was president because his budget numbers couldn’t be trusted? Even some conservatives reamed Kirk out for that move.

Have the Republicans totally forgotten that Kirk did this — and most of them approved? Do they think the Chinese are stupid? Now the Chinese are learning that it’s the Republicans whose word they shouldn’t be trusting when it comes to money.

<snip>

Link: http://my.firedoglake.com/phoenix/2011/06/10/debt-limit-follies-china-learns-not-to-trust-republicans/

:kick:

[DonCoquixote]

1. If the Chinese are as smart

as they would like to think they are, donations to the GOP will be a LOT less. If not, we know they will be just as stupid as we were when they take over.

[Turbineguy]

2. These idiots do not understand

the forces they are dealing with. And that makes them dangerous idiots.

[phasma ex machina]

3. China likes raping America, so it can choke on all those worthless greenbacks. nt