Wednesday, August 08, 2007
China Threatening to Destroy American Economy
Conservative economists have been sounding the alarm for years - our debtor economy is eventually going to be our greatest weakness.
China - which holds over $900 billion in U.S. bonds - is now threatening to sell off its U.S. holdings en masse, an action that would devalue the dollar and most likely send the American economy into recession.
But here is a question - given our new standards of what constitutes an "act of war" post-9/11, is this economic action a prelude to World War III?
And a follow-up question - who else would be on our side against the Communists this time?
China - which holds over $900 billion in U.S. bonds - is now threatening to sell off its U.S. holdings en masse, an action that would devalue the dollar and most likely send the American economy into recession.
But here is a question - given our new standards of what constitutes an "act of war" post-9/11, is this economic action a prelude to World War III?
And a follow-up question - who else would be on our side against the Communists this time?
Permalink posted by Rob Huddleston @ 7:39 AM 
