AN OASIS IN A WORLD OF HACKS, HUSTLERS, AND HIRED SPIN
posted by The Cunning Realist at Monday, October 27, 2008
It's because they didn't fully support the GNMA, bonds of Freddie and Fannie. The Chinese own 300 million or billion of them. It was in some Congressional testimony.
Hi,It's me againhttp://blogs.cfr.org/setser/2008/07/12/too-chinese-and-russian-to-fail/This is a few months old, but says China holds 422 billion of Fannie Mae and Freddie Mac debt.Enjoy your blog.
ALOHA !!Sadly, China acts as if they are shocked that the US government has been spending beyond its means for the past four decades. IT TAKES TWO CHINA! If you insist on trading your goods and services in exchange for an IOU then you deserve what you get!As John Connolly pointed out way back in 1971 when NIXON took us off the gold standard and defaulted ... "It our dollar, but its your problem!"COME ON CHINA ... GET A KLUE!!! There is a store for you ... KLUES-R-US!!
Can't really argue with them...Don't think China is that stupid Kaimu. Their political leaders have been outsmarting ours for the last decade. They are just trying to strike the fear of God into us...to put themselves in a better bargaining position. There will be new rules going forward...when all this crap finally settles out.
I'm gonna divert my attention for a while because reading this title I had some memories when my girlfriend didn't want to return me a phone call it was so ¡hard for me because I loved her and after that we broke down.
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I am a New York City resident in my forties, an investment professional, and a conservative. I have an MBA from Columbia University.