Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: RealMuLan who wrote (53866)	10/2/2004 2:16:46 AM
From: Hugh A	Read Replies (1) of 74559

Hi Yiwu: Regarding China holding US debt... I am reminded of that old saying, "When you owe the banks $50,000 you have a problem. When you owe them $275,749,000,000, they have a problem. So now it comes down to who blinks first. If China refuses to continue buying US debt, her most important (by a long shot) consumer collapses. If the US tighens and turns off the refi spigot, China's bubble bursts. As I have said before, we have moved from mutually assured destruction to mutually assured consumption! Hu and Greenspan are joined at the hip, so to speak. Hugh A.

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