Chinese ‘Appalled’ by U.S. Debt Impasse: Roach

[GillesDeleuze]

Chinese ‘Appalled’ by U.S. Debt Impasse: Roach
Bloomberg
http://www.bloomberg.com/news/2011-07-28/roach-says-chinese-officials-appalled-by-impasse-on-raising-debt-ceiling.html

“Coming so shortly on the heels of the subprime crisis, the debate over the debt ceiling and the budget deficit is the last straw” for China, New York-based Roach, 65, said in an e- mailed note today. He said his assessment was based on visits to Beijing, Shanghai, Chongqing and Hong Kong.

In another sign of concern within the nation that is the biggest foreign owner of Treasuries, the official China Securities Journal said today that the U.S. stand-off signals long-term dollar weakness that will push up commodity prices and pose inflation risks for the world. In Mumbai yesterday, a former central bank adviser, Yu Yongding, repeated his call for China to reduce its Treasury holdings, adding that a default would be “disastrous.”
...

China’s currency regulator, which manages the country’s $3.2 trillion of foreign-exchange reserves, called this month for the U.S. to protect the interests of investors in American debt. Comments in China have also included expressions of confidence that U.S. lawmakers will reach an agreement. Xia Bin, a central bank adviser, said July 25 that the stakes were too high for them to do otherwise.

[FreakinDJ]

1. Gee - US appalled at China devaluing their currancy

I'll give you the same answer you gave USA - pound sand

[WCGreen]

2. Then where will we get our money....

Oh these ass holes really don't care if they tank the country...

[RKP5637]

5. Just keep printing more and more money like the other 3rd world countries, we want to

be #1 in something. Might as well see inflation soar. It's pretty clear none give a fuck about the country anymore except those of us trying to survive day to day in the weeds.

Yep, "these ass holes really don't care if they tank the country..."

[WCGreen]

9. They don't, patriots all....

[Bok_Tukalo]

3. They are appalled we haven't jailed, tortured, or disappeared members of Congress yet

It's called a constitutional republic with democratic governing institutions. Look it up on Wiki.

[LaurenG]

4. Americans are also appalled at US debt impasse

They are going to raise the ceiling, of that I have no doubt.

This is just big egos flaunting their feathers acting like they're someone special. This is no more than political circus, grab your popcorn and enjoy the show.

[RKP5637]

7. Yep, it's theatrics at its finest. n/t

[qb]

6. Republican Response: The House cafeteria will no longer have Chinese food on the menu.

From now on it will be called "Freedom Food"

[MrTriumph]

8. This is more like children playing with matches.

It may only take one decision maker to hit the panic button and then....