re: #359 austin_blue

Own or owe? We are in their pockets, and if they start laying off our debt, oh, Katie bar the door!

Very true. We’re in a precarious situation vis-a-vis the Chinese. But sometimes we have leverage too. As the saying goes, owe the bank a million dollars, and the bank owns you, owe a billion—in this case trillions—and you own the bank. The only thing saving us is the Chinese cannot easily dump all their dollars. If they did, they’d lose most the value of their reserves.