Are we slowly becoming Great Britain? Options

[Hartmann]

http://www.austinchronicle.com/gyrobase/Is...id=oid%3A494048

My girlfriend sent me this link after I told her about a conversation I had with a co-worker. We were talking about China and the slow takeover they are making. We are in debt to them and they aren't willing to call our bill because they like the money that is coming in and are using it to build cities.

It's like they are ignored problem. They have nukes, they are losing natural resources, they've bought up most of Africa and Australia for their natural resources and pretty soon something is going to snap and Japan will become China's Puerto Rico.

[Divergent Realit...]

i think you mean "weather satellite"

[rabble]

you dont just "call in "debt. Case Closed

[GOB]

you dont just "call in "debt. Case Closed

for the win. their own economy would go down the shitter (along with the rest of the world) if they tried to collect everything.


china: we'll take our money now
us: uh, nope?
china: damn

[rabble]

for the win. their own economy would go down the shitter (along with the rest of the world) if they tried to collect everything.
china: we'll take our money now
us: uh, nope?
china: damn

No, I mean debt has contractual obligations. They won't call it in because they can't without breaking the rules of the contract. What these fearmongering assholes don't tell you is how much debt the US owes to china at any given maturity date (that is when we have to pay them) Let me put it this way, if you have a 30 year mortgage and 10 years into it the company tells you "pay us all of it now," you can tell them to fucking stick it up their ass because you have a signed written agreement for 30 years.

Actually, if we are the ones selling debt to china, then they are giving us money, and as long as we don't waste it then theres nothing wrong with that. If we are buying Chinese debt then I don't really see how their fear mongering works, because we would own a future claim in their country (which is on the up and up, so sounds like a solid investment to me)

[Hartmann]

No, I mean debt has contractual obligations. They won't call it in because they can't without breaking the rules of the contract. What these fearmongering assholes don't tell you is how much debt the US owes to china at any given maturity date (that is when we have to pay them) Let me put it this way, if you have a 30 year mortgage and 10 years into it the company tells you "pay us all of it now," you can tell them to fucking stick it up their ass because you have a signed written agreement for 30 years.

Actually, if we are the ones selling debt to china, then they are giving us money, and as long as we don't waste it then theres nothing wrong with that. If we are buying Chinese debt then I don't really see how their fear mongering works, because we would own a future claim in their country (which is on the up and up, so sounds like a solid investment to me)

Well, thanks for the not-so-nice reply (fearmongering assholes)... My intent in posting this was not to agree or disagree but to start a discussion about China's role and what the role of the U.S. will be. We've also got to keep Russia in the mix as well as their economy rebounds and the emergence of a true middle class is back.

My main question was whether or not the U.S. is slowly becoming Great Britain, a power who was once #1 in the world and is now much lower. Are we going to make the slow drop down the totem pole?

Our debt to China is in the form of cash, they sell us goods, we owe them money. We don't sell debt to China (from what I've found)... I'd like to know where you got your info.