Will Obama and America default in its trillion dollars loan from China?
Obama is now becoming China's new friend and maybe the American liberal media. Despite the trillion dollars loan secured from China, he is still maneuvering to enlarge the government and the out-of^control spending. How would the Americans like to be second class citizens looking up at the powerful Chinese? I guess it will be hard for Obama and America to lift a finger against its loan lender, China, on human rights abuses, neighboring countries bullying,
And with the global economic crisis, can America pay China on time?
- hironymusLv 710 years agoFavorite Answer
Not unless Congress cuts spending big time. BTW has anyone talked about the fact that a very large part of our foreign debt is held by Japan. What will happen when they call in those loans because they will need the money to rebuild.
- BflowingLv 710 years ago
It is not a loan and it is not a trillion dollars.
China bought American bonds and T-bills as investments. When they become due, the US will issue new bonds to whomever wants them. China will most likely reinvest, but there are plenty of buyers including American citizens.
- 10 years ago
It's all about collapsing America, baby! Cloward and Piven and Rules For Radicals are his bibles.
- Anonymous10 years ago
How can you default when you own the money machine.