Credit articles in the news

Interesting news stories about credit. The first is that China is worried about America’s credit because it is holding our treasury bonds. You know all that debt that Obama is adding more and more debt to, well, China is the one who is buying it. Yep, a country that at one point we would not even have a trade agreement with now pretty much owns us. I wonder if they would end up repoing a state or two if we fail to make payments.

China’s premier expressed concern Friday about its holdings of Treasuries and other U.S. debt, appealing to Washington to safeguard their value, and said Beijing is ready to expand its stimulus if economic conditions worsen.

China worried

The second article is one in which Obama is creating a plan for after the recession is over. In it he says,

The days of overheated housing markets and “people maxing out on their credit cards” are over, Obama said Friday in describing that “post-bubble” model.

maxing credit cards

This really sounds to me as projection. He is projecting to us and putting blame on us what he himself is doing. Note, he is putting the country in debt but talking about the credit card debt that a few people do.

On another note, when I first read the headline, I thought it was that Obama was admitting that at some point he used to max his credit cards. I wonder what his credit cards look like and if they are pretty maxed. Oh wait, he doesn’t use his credit cards because he has figured out how to make others pay for every dime he spends (since his days as a community organizer.)


One thought on “Credit articles in the news

  1. utah1234 says:

    China should be worried about their dangerous over investment in US Treasury obligations. Washington ’s long-term choice is either repudiation or monetization. For monetization to be effective, the depreciation in the dollar would have to be substantial and this in turn would dramatically raise prices of imports for American consumers which would mean a tremendous drop in foreign imports. Debt monetization would cause more disruption to exporting nations than selective repudiation of Treasury debt.

    Washington has bailed out the banks, Wall Street & their Washington special interests and much of the cost is added to the national debt to by paid by this and future generations while real estate and investments continue to fall. Find out what a growing repudiate the debt movement could mean for treasury bonds, the dollar, gold and the stock market.

    The Campaign to Cancel the Washington National Debt By 12/22/2013 Constitutional Amendment is starting now in the U.S. See:
    Ron Holland

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