Then I read some of the comments. Some, on all sides of the issue, were quite good. Then there was this idiot:
I'd like to see China or anyone come and try to claim debt from the USA. We still have the big red button biaaaatches!!
on September 24, 2009
at 06:08 PM
and they don't!!!"
Let's just pick this apart.
First, China doesn't have to call in their markers. In fact, they are unlikely to do so as it would adversely affect THEIR currency faster than they are likely to be able to deal with. All they have to do to put an end to the dollar as the world's reserve currency is STOP BUYING THE GUARANTEES that the FED likes to sell to them. A refusal to take on more American debt is non aggressive and indefeatable.
Then the last part. The willingness to initiate a nuclear war over a disagreement on DEBT. This moron would kill BILLIONS over a trade dispute. Never mind the wrong idea that China doesn't have nukes (they do, they can reach us, they are probably targeted on us), but just look at that mindset. If the United States gets called on it's default, this moron wants to shoot at the DEBTHOLDER.
See how well that one flies next time you're late on a loan payment. Yeesh.
There are moments when I'm ashamed of being born American. This is one of them.