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.
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.
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.)