Wednesday, January 19, 2011

JUST HOW? did america get s ofar in debt to china? aren't they buying more land here and banks?

We depend on China to make everything for us. Look at the tag on the back of your shirt. Where was it made?


Wow. Not very interested in the correct answer, were you? http://answers.yahoo.com/question/accuse_write?qid=20091211105247AADtZHi&kid=QcV4XjvoUjPds8vBSpjFJ6WNPa.oC678K8v.pTF9RdfPqgM0GbXr&s=comm&date=2009-12-18+17%3A28%3A20&.crumb=

The other responder is correct. Next time you are in WalMart, make note of where products are made.

We have a massive trade deficit with China. That is to say, we buy far more from China than we sell to China, and we pay for all of that stuff with US dollars. Since the Chinese are reasonably intelligent, they have used all those hundreds of billions of US dollars to buy up US treasury notes.

In case you are wondering, I singled out WalMart because (and I was shocked when I saw this), WalMart is the single biggest non-government employer in China.

China has also loaned us the money to pay for the war when Bush invaded Iraq. We're still borrowing money from China to pay for this war. Something like 1 billion dollars every 9 hours last I heard.

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