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2011-04-14 China-Japan-Koreas

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Posted by g(r)omgoru 2011-04-14 12:12|| E-Mail|| Front Page|| [11128 views ] Top

#1 Beijing does not equal China.

To journalists who live in Beijing, maybe. They view anywhere outside the capital as a horror.

Posted by gromky 2011-04-14 13:01|| 2011-04-14 13:01|| Front Page Top

#2 Uh...oh....

China was using our trade dollars to fund that and to fund our spending spree. Chinese banks are leveraged to the hilt and are awash in bad debt. Several people were waiting for the Chinese market to burst. Now who will fund our debt?

Posted by DarthVader 2011-04-14 13:40|| 2011-04-14 13:40|| Front Page Top

#3 ..our children and grandchildren. Bonded by their parentage. Maybe they'll figure how to operate a government without borrowing and leave the gamblers holding the bag.

Posted by Procopius2k 2011-04-14 16:09|| 2011-04-14 16:09|| Front Page Top

#4 ..our children and grandchildren. Bonded by their parentage.

When the time comes, I have no problems defaulting on Communist Chinese debt.

Chinas $260 billion Default
China is currently in default on about $260 billion worth of pre-1949 Chinese government bonds

China stiffing America for $100 billion in debt
While Chinese companies are in line to benefit directly from U.S. taxpayers' $700 billion-plus bailout of Wall Street, Fannie Mae, Freddie Mac and other financial institutions, Beijing is stiffing the U.S. for $100 billion or more in unpaid debt.

One problem that should be addressed, he writes, is the $260 billion in sovereign debt owed U.S. and other investors which China has said it simply won't repay.

"The repayment obligation was inherited by the People's Republic of China, when the communists took control in 1949. The successor government doctrine of settled international law affirms continuity of obligations among international recognized successive governments," O'Brien said.

Posted by Zebulon Thranter9685 2011-04-14 18:33|| 2011-04-14 18:33|| Front Page Top

#5 Left unstated is the extent to which China fueled the boom via an expansion of its money supply over the last decade.

Posted by Thing From Snowy Mountain 2011-04-14 18:50|| 2011-04-14 18:50|| Front Page Top

#6 I'd use the term "boom". Credit expansion inevitably lowers housing affordability (ratio between land prices and wages (read some Ricardo)). When the credit is also initially used for non-investment purposes you're left worse off.

Posted by Bright Pebbles 2011-04-14 19:02|| 2011-04-14 19:02|| Front Page Top

#7 China stiffing America? Selective reading of history. Recall the state of Mississippi stiffed 1838 investors of $7million, refused to pay interest, then repudiated the debt, then even amended its constitution to bar repayments. This failure was eventually validated by the USSC rather recently, after decades of lawsuits by the stiffed investors. Other states have also defaulted on their debts. The USA as a whole has never [yet] defaulted, although its repudiation of 'gold clauses' in contracts in 1933 was upheld by the USSC and may be considered a type of default.

Posted by Anguper Hupomosing9418 2011-04-14 22:42|| 2011-04-14 22:42|| Front Page Top

22:59 Anguper Hupomosing9418
22:49 Anguper Hupomosing9418
22:46 Anguper Hupomosing9418
22:42 Anguper Hupomosing9418
22:02 Frank G
22:01 Willy
21:47 Barbara Skolaut
21:40 tu3031
21:20 newc
21:19 Frank G
21:18 newc
21:15 newc
20:51 Frank G
20:50 Bill Clinton
20:40 Frank G
20:26 Rambler in Virginia
19:47 Barbara Skolaut
19:43 tu3031
19:38 Nimble Spemble
19:23 Chemist
19:11 Chemist
19:02 Bright Pebbles
18:50 Thing From Snowy Mountain
18:33 Zebulon Thranter9685
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