The gathering place for a merry band of Three Percenters. (As denounced by Bill Clinton on CNN!)
Oh, f**k! We are on the way to being well and truly screwed.If you ain't got it by now, don't be looking to be able to afford it tomorrow.B WoodmanIII-per
Pshaw...Dear Reader and Regime say that everything is great, and that our "recovery" is right on schedule!Nothing to see here -- move along, move along...!!God help us...
PS: My WV was "Seanti"That's where we'll all be living -- in a SHAHN-ty. Prolly a whole TOWN full of them!Yep. "Shanty-Town" -- if we're lucky, and our new little-yellow-masters let us gather enough scraps to BUILD one!Now the WV is "thingi" -- which is what Weiner likes to make twitter-pics of: his "thingi"...
Before everyone panics, I believe the distinction between Treasury BILLS and bonds is important. T-bills make up a tiny portion of China's overall holdings of treasury paper. While possibly a meaningful indicator of futured intentions, it is not a serious event in and of itself, just yet.
Read the details.The "bills" are the short-term (< 1 year term) Fed. Gov't paper. This is as opposed to "notes" and "bonds", which are intermediate and long-term (30 - year), respectively. They still have a whole lot of those.No, I'm not a financial expert; I just read the details, especially when the number don't make sense.If the Chinese had sold 97 % of their TOTAL holdings of US debt already, and that quickly, we'd be fucked already and wouldn't have the time or excess electrical power to write posts about it.I don't disagree that we are "on the way to being well and truly screwed.", though.The only thing that prevents the Chinese from dumping their longer term notes and bonds quickly is that they would lose their ass, as these bond prices would go way down. It has to be done slowly, but not too slowly or they will be holding worthless paper when the US defaults and/or our economy hyperinflates.(Drudge likes to get into yellow journalism a lot; on the other hand, you can't say his headline is wrong. It's just misleading to the average non-finance-world person who wouldn't know a T-bill from bond, and the rest of that crap. I think Drudge knows he is misleading, but he wants the page view referrals.)Oh, I never before noticed how funny that Dylan video is, especially at the end. Nice one.)
I wonder what Obama would do if our good friends the Chicoms offered to forgive our debt in exchange for Taiwan.What was it that Cambodian officer said? Something about American's being worse than the French?My guess is that Taiwan is a few places ahead of us on the list of who's gonna get screwed.If I recall, Dutchman6 even wrote about such a scenario in "Absolved".
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