GayPatriot

The Internet home for American gay conservatives.

Powered by Genesis

Begging a Foreign Country to Buy Up Our Debt?!?

February 24, 2009 by GayPatriotWest

Sonicfrog wonders if when Secretary of Clinton Hillary Clinton asked China to buy US Debt, if this were “the first time this has happened since the American Revolution.”

Good question.  And I agree that this is embarrassing.

Filed Under: American History, Big Government Follies

Comments

  1. ILoveCapitalism says

    February 24, 2009 at 1:30 pm - February 24, 2009

    Wait a tick.

    “By continuing to support American Treasury instruments the Chinese are recognising our interconnection. We are truly going to rise or fall together,” Clinton said at the US embassy here.

    I don’t think that’s begging. I think that’s threatening. “China, if you don’t buy whatever debt we want to issue, you’ll go down with us.” And how stupid are the Chinese? Will they (literally) buy it? We’re about to find out.

    “Because our economies are so intertwined the Chinese know that in order to start exporting again to its biggest market, the United States had to take some very drastic measures with this stimulus package,” Clinton said.

    “We have to incur more debt. It would not be in China’s interest if we were unable to get our economy moving again.”

    Yup. That’s a polite threat.

  2. Peter Hughes says

    February 24, 2009 at 1:32 pm - February 24, 2009

    #2 – And everyone knows how Shrillary can issue polite threats – especially her husband.

    (Ashtray throwing not included.)

    Regards,
    Peter H.

  3. Roberto says

    February 24, 2009 at 3:12 pm - February 24, 2009

    What happens if we should default? Does China take over the government? Where do I sign up to take classes in Mandarin?

  4. ILoveCapitalism says

    February 24, 2009 at 4:07 pm - February 24, 2009

    Pimsleur is a good way (if pricey) to learn most any language, and believe me, I’m thinking about it. As the saying goes, “I, for one, welcome our new Mandarin overlords” 😉

  5. Ted B. (Charging Rhino) says

    February 24, 2009 at 4:24 pm - February 24, 2009

    The only good news is they can buy it, but they can’t take it with them.

    Besides, most of our industrial-plant and heavy industries have already been moved there; steel mills, textile spinning and weaving, machine tools, and sewing-lines.

  6. V the K says

    February 24, 2009 at 4:37 pm - February 24, 2009

    Why would it be in China’s interest? So the U.S. can continue to import their goods, of course. But if we’re spending the stimulus on Chinese imports, then it isn’t much of a stimulus for the American economy, is it?

  7. ILoveCapitalism says

    February 24, 2009 at 5:19 pm - February 24, 2009

    Also, how about having Chinese imports go to… the Chinese? If they can afford to produce it, they can afford to consume it. Only their artificially low yuan – and some claim, their government – keep them from having a consumer economy.

  8. Kevin says

    February 24, 2009 at 6:02 pm - February 24, 2009

    What are you whining about? All these banks and other financial institutions just took the money and ran; isn’t that what pure capitalism is about? Republicans screamed for years about removing government regulations and oversights – well, we got it in spades. All these executives and large scale investors removed the money from the economy and took it off shore – so much for trickle down economics. I love how Merrill Lynch handed out its multimillions in bonuses months ahead of schedule, which, interestingly enough, magically happened just prior to being sold off to BofA.

    In all of this, conservatives keep thinking that their old style ideas of fixing the economy is going to work. Guess what, letting big business do what they feel like as if that’s the fix DOES NOT WORK. too bad you all can’t come to grips with that.

  9. bob (aka boob) says

    February 24, 2009 at 6:58 pm - February 24, 2009

    funny how you guys didn’t complain about the bush tax cuts that have cost us over a trillion dollars (w/o a matching reduction in spending)…

  10. ILoveCapitalism says

    February 24, 2009 at 7:17 pm - February 24, 2009

    bob, funny how you don’t know anything. I have complained repeatedly, for years, about the Bush **deficits** – you know, the ones that Obama just doubled. Me and others.

    Remember: Nothing wrong with tax cuts, if they’re matched by spending cuts like they ought to be. And many on this blog have flogged Bush for years, for not making the deep cuts needed to end deficits and the growth of government. Once more, bob, you prove that you don’t know jack squat about the people on this blog – or about conservatives and libertarians / classical liberals. Enjoy your ignorance! 🙂

  11. Sonicfrog says

    February 24, 2009 at 7:42 pm - February 24, 2009

    Bob, you must be new to this site. Yes, some of the excesses were excused at first (after 911), but most of us derided it when it became obvious that this run away spending would be the rule, as in Medicare-D, and not the exception.

  12. The Livewire says

    February 24, 2009 at 9:06 pm - February 24, 2009

    bob conveniently omits that the tax cuts raised revenue as admitted in the debates. He lalso omits that when confronted with this (then senator) Obama said he’d -still- raise ttaxes in the name of fairness.

    Believe me, I’ve seen the headaches of Medicare D, and the whining. “I’ve got the guverment payin’ my drugs! What do you mean I’ve a donut hole? What do you mean i need to pay for my drugs? I’m old damnit!”

  13. ILoveCapitalism says

    February 24, 2009 at 9:16 pm - February 24, 2009

    the tax cuts raised revenue… Obama said he’d -still- raise taxes [anyway]

    Good point.

  14. North Dallas Thirty says

    February 24, 2009 at 11:58 pm - February 24, 2009

    Besides, Obama has no concern about raising taxes; as Solis, Rangel, Daschle, Dodd, and others have shown, Obama Party members don’t pay taxes.

    Meanwhile, Kevin, leftists like yourself got the complete control of an economy you wanted on multiple occasions. It’s called the former Soviet Union and the former Eastern Bloc. You might want to check on how their complete destruction of private business and forcing everyone to be dependent on the government for everything worked out.

  15. ThatGayConservative says

    February 25, 2009 at 2:16 am - February 25, 2009

    funny how you guys didn’t complain about the bush tax cuts that have cost us over a trillion dollars (w/o a matching reduction in spending)…

    Nice CYA there at the end, boob. That qualifier was an afterthought, right?

  16. The Livewire says

    February 25, 2009 at 10:19 am - February 25, 2009

    TGC, I seem to recall a bunch of us did complain about the spending, frequently.

    Facts don’t seem to be bob’s forte, do they?

  17. Christopher says

    March 9, 2009 at 11:23 pm - March 9, 2009

    Hello? The 80s called. They wants its GDP back!

Categories

Archives