Donald Trump: "China is our enemy"

[ZenOps]

http://www.cnn.com/video/#/video/us/2011/01/20/tsr.trump.v.china.cnn?hpt=T2

I assume of course its in the context of "Economic enemy"

Which I tend to agree with. Canada has been taking a lot of economic flak from the US too (Name the CEO of Enmax as one of the worst because hes not bowing down to the US? Really.)

The US has been lashing out at everyone, and also trying to get everyone to buy their ridonkulously overpriced goods. Military technology and goods mainly, because that is what the US specializes in (They won't beat Mexico in Marijuana production, I will say that much)

US officially surpassed 14 trillion dollars debt on Wednesday, they are about 300 billion away from hitting their debt ceiling (approximately 14.3 trillion) Which amazingly enough, $300 billion is just about the exact amount the US pays in interest each year, which is coincidentally the $ amount of the current US reserve of 8,910 tonnes of gold or so.

Didn't that nobel peace prize dissident shake hands with Donald Trump way back when? I'm sure its out there somewhere.

[Graham_A_M]

I wasn't aware there was a ceiling towards debt.
Id be interested to see how the US will react to that in the event it does exist.
These next 10-30 years will prove quite interesting for the US, and its global "role"

I agree a lot with what Donald was saying though. :thumbsup:

[ZenOps]

Yes, even the US has to adhere to the IMF.

They can Quantitative ease III, but without doubt it would require a country downgrade at least one or maybe even *gasp* two notches.

Which means an extra 0.25% of interest per year or whatever it works out to be - just like Ireland that got downgraded 5 notches. Which means the US would have to pay more in interest to borrow more, which often ends up being an uncontrollable spiral.

Honestly: I think the US would rather have a dozen cities in the US declare bankruptcy before they would do a country downgrade one notch.

[Cos]

.

[Xtrema]

Say the guy who went to HK begging for money on his last bankruptcy.

[ZenOps]

Yeah, Trumps probably got a personal grievance against Hong Kong for sure.

Sure Holden is a dweeb, but they are comparing him and Enmax on the level of BP (and the oilrig disaster) That isn't even comparible, not in the same ballpark, its not even the same sport.

But everyone hates their credit card bank when you have to pay 28.8% right? A little bit of 'enemy' is probably warranted. Still, its really hard to blame the other guy for throwing money at you.

[Cos]

.

[911fever]

Trump isn't wrong here. China makes a ton of money off the US' back and its retarded how the US isn't forcing a tarriff on chinese goods like 15% or something (which Trump has suggested). Trump has plenty of good ideas.

[broken_legs]

Originally posted by Graham_A_M
I wasn't aware there was a ceiling towards debt.
Id be interested to see how the US will react to that in the event it does exist.
These next 10-30 years will prove quite interesting for the US, and its global "role"

I agree a lot with what Donald was saying though. :thumbsup:


The debt ceiling is a limit that is voted on and approved by congress.

The government cannot sell more treasuries until the debt limit is increased.

Theoretically, if there is political turmoil and the limit is not increased on time the USA becomes instantly insolvent and will stop making interest payments on bonds etc...

The IMF has nothing to do with the US debt except to the extent that the IMF is largely funded by the USA. The USA can do whatever it wants.

[ZenOps]

Sure the US can print money, they've done it twice already.

I'm just saying that they cannot get away with it a third time, without an international downgrade. Which means they won't be able to borrow internationally at prime lending rates. If they go for QEIII, they will have to take the additional hit of a raised interest rate penalty (They got away with the first two, without penalty) Probably more devastating would be the idea that the whole US is somehow "sub-prime."

Canada cannot print money arbitrarily like the US, because we are under the rules of a Commonwealth Imperial banking system.

[broken_legs]

Originally posted by ZenOps
Sure the US can print money, they've done it twice already.

I'm just saying that they cannot get away with it a third time, without an international downgrade. Which means they won't be able to borrow internationally at prime lending rates. If they go for QEIII, they will have to take the additional hit of a raised interest rate penalty (They got away with the first two, without penalty)

Canada cannot print money arbitrarily like the US, because we are under the rules of a Commonwealth Imperial banking system.

ok man

[Cos]

Originally posted by ZenOps
Sure the US can print money, they've done it twice already.


Not quite.


Originally posted by broken_legs



The debt ceiling is a limit that is voted on and approved by congress.

The government cannot sell more treasuries until the debt limit is increased.

[kertejud2]

Originally posted by 911fever
Trump isn't wrong here. China makes a ton of money off the US' back and its retarded how the US isn't forcing a tarriff on chinese goods like 15% or something (which Trump has suggested). Trump has plenty of good ideas.

Increasing the price on the bulk of manufactured goods by 15% is good for the people of America? Or good for the American businesses that have their manufacturing base in China?

[g-m]

Just never ever take anything that zenops the whackjob says as fact

[Cos]

Originally posted by g-m
Just never ever take anything that zenops the whackjob says as fact

I have put up with him for the last two years or whatever. This AM after I re-quoted broken_legs I went and ignored him.