Patrick Boyle former Professor of Business at the University of California and CEO of Palomar Capital is hardly ever wrong.
Central planning is a helluva drug!
Central planning is a helluva drug!
China's economic meltdown
- Thread starter Insidious Von
- Start date
China should be worrying about depreciation of those
IOUs more than the U.S. I think it is just a matter of time
before they sell off all the green toilet papers in their foreign
reserve. But they better act quickly before the U.S. default
on their foreign debt.
IOUs more than the U.S. I think it is just a matter of time
before they sell off all the green toilet papers in their foreign
reserve. But they better act quickly before the U.S. default
on their foreign debt.
The U.S. won't default on USD debts, they will just print more USD's.
The LDC crisis was because they borrowed in USD's but couldn't print USD's.
The LDC crisis was because they borrowed in USD's but couldn't print USD's.
It's TRUE. It's a great scam they have. Borrow printed money.... and when you need to pay it back, borrow more printed money. Where inflation hurts the little guy, it actually helps the US treasury. If they borrow a Billion today, they can pay it off next year with money that's less valuable, but the billion borrowed stays the same.
And because most of the money stays offshore, it does not hurt the US consumer as much as it should.
China bailed out the USA during the sub prime crisis, I suspect they are shipping container ships of money to the west to do the same this time.
