February 26, 2009

Hillary Clinton's Parting Words to the Chinese - Let's Look at the Tape Again

Monique Chartier

From Bloomberg via Drudge:

Treasuries fell for a third day as the government sold $22 billion of seven-year notes in the last of three auctions this week as it issues an unprecedented amount of debt to spur the U.S. economy.

Secretary of State Clinton's plea that the Chinese government continue to purchase US paper now comes into sharper perspective. It's important to encourage/schmooze your biggest customer when you're about to roll out a record-breaking amount of product.

By the way, if issuing all this government debt spurs the economy, what happens to the economy when we go to pay it back?

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We will have to cancel cable, get a government sponsored digital converter and buy the antenna. Then we can turn in our blackberries, buy store brands, eat at home, talk with our children, let the kids play disorganized sports at the park, read books at the library, ride our bicycles to work, and rent out our spare rooms to boarders (unless we're the ones looking for a place to live because your government authorized restructured mortgage became unaffordable when the banks collapsed from hyperinflation caused by the government having to print paper to pay off the Chinese debt), and dry our clothes on the line. Oh yeah, then we can all go to work on the collective farms and work in the government operated factories making things that no one can afford to buy.

I'm not thinkin' I want to have it happen, but I'm going to make sure I'm ready because it's starting to look like a real possibility.

I'm still looking for a change I can believe in.

Posted by: john at February 26, 2009 8:41 PM

If you're looking for a harder currency than our increasingly toilet paper-esque one ... gold is a little pricey per ounce, however silver is pretty attainable for most individuals. You can by silver bullion in coins or in 10 troy oz. bars at most coin shops, and through some banks, or just stock up on the old Morgan dollars. Either way, you'll have something tangible.

PS Stocking up on non-perishable food and water should be a given, whether it be for a natural disaster, or a man-made one. No one ever died from being too prepared.

Posted by: Will at February 26, 2009 9:58 PM
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