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by Micaho on 20 November 2012 - 19:11
Bee,
China bought the US bonds we sold to raise money. US bonds are also in the Social Security Fund replacing the value of the FICA paid in.
I suppose China expected to profit off the bonds somewhat, Maybe they also wanted the US to be "indebted" which would give them more trade influence. I don't think they expect to "own" the US or take over if we default as some people claim.
I certainly don't know if there is any kind of repayment enforcement between countries. It may come down to how much a reputation is worth.
China bought the US bonds we sold to raise money. US bonds are also in the Social Security Fund replacing the value of the FICA paid in.
I suppose China expected to profit off the bonds somewhat, Maybe they also wanted the US to be "indebted" which would give them more trade influence. I don't think they expect to "own" the US or take over if we default as some people claim.
I certainly don't know if there is any kind of repayment enforcement between countries. It may come down to how much a reputation is worth.
by Micaho on 23 November 2012 - 16:11
Jay Leno's take on the debt ceiling issue:
http://cnsnews.com/video/national/leno-setting-us-debt-limit-chinas-job
http://cnsnews.com/video/national/leno-setting-us-debt-limit-chinas-job
by beetree on 25 November 2012 - 00:11
LOL, I can see his point, actually!
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