They Can Utterly Destroy Our Economy At Any Moment If They Feel Like It
Told ya so, told ya so, and told ya so. This just sent to me by a friend (thanks Ric) a few minutes ago:
China Threatens Nuclear Option of Dollar Sales
This is a subject I’ve ranted about endlessly for over two years now, and it is the largest threat to our entire economic and political system since the Civil War.
But, hey, look how cheap that stuff is at Wal-Mart. And the talking heads on TV explain to us virtually every day how great it is that China has kept its currency artificially low for so many years, how that’s not contradictory to their “free-market” stance, and how it’s OK that they’ve built up over thirteen hundred BILLION dollars’ worth of our treasury notes. Really. Trust them. They’re experts.
A recent related post: (3 July 2007) Don’t Forget the Dollar and China’s US Treasury Reserves