The United States is heading for a cliff -- and taking the world with it -- • US govt. will run out of money by Oct. 18, Treasury Dept. says

[Clutch]

Foreign trade accounts for only 31.87% of China's GDP, and the USA only is China's third largest trading partner, accounting for 13.2% of China's total foreign trade. China does not rely on the US market.

China is indeed not ready for the collapse of the dollar system. If the dollar suddenly collapses, China does have trillions of dollars and US debt will become waste paper. But the world will also enter the multipolar era ahead of time, and China is not unable to accept this result. If the USA think that China dare not let the dollar system collapse, the USA can bet it. Do Americans dare to bet it? If don't dare, hurry up and complete the two lists of China.

If the US Dollar system crashes it will take all with it. China, America, and the rest of the world. That's the point. China isn't immune to the collapse of the dollar.

So it is not a case of America testing China. It's just that China is also too entrenched in the system for it to fail.

If the system were to fail... Democracies will still go through the failure with relatively less social unrest that those that are dictatorial.

End of the day.... Everyone is pretty much screwed.

 

[MH.Yang]

If the US Dollar system crashes it will take all with it. China, America, and the rest of the world. That's the point. China isn't immune to the collapse of the dollar.

So it is not a case of America testing China. It's just that China is also too entrenched in the system for it to fail.

If the system were to fail... Democracies will still go through the failure with relatively less social unrest that those that are dictatorial.

End of the day.... Everyone is pretty much screwed.

Yes, China also doesn't want the bomb of U.S. debt to explode suddenly. It will blow up the whole world economy. China needs time to dismantle the bomb slowly.
However, China has the ability to live on China's domestic resources and market. At most, the economy will be affected, but it is certainly much better than that of other countries. China has enough factories and grain production capacity. There's no problem feeding 1.4 billion people.

 

[nang2]

If this collapse was to occur it will send shockwaves but to be honest after the world economy took a severe beating at the hands of covid everywhere is fragile but specifically the US the homelessness has grown so much it is ridiculous the government is literally paying for rent across the US now it has gotten that bad.

The US has fallen into a 3rd world country since the covid19 and their economy seems to be worst of from recovering from it because they had bad crisis from even before the covid19 got there and on top of that in post covid they experienced many major natural disasters so it was 3 successive blows and they are having a hard time cooping with it

It should be a good thing as it reveals the true nature of the reality. People are too complacent in believing in US dollar that it buries a lot of unrealized inflation. When such unrealized inflation is eventually realized, it would be much much worse, just like Germany in 1923. Stopping raising debt ceiling is the only way to make it meaningful and force American politicians to balance their budget. They cannot print their way out everytime.

Yes, everybody cries the sky is falling...even when they are months late and they start shutting down state parks..it really isn't that big of a deal.

2018

States help run U.S. National Parks in federal government shutdown

U.S. National Parks will be left with just a skeleton staff during the federal government shutdown, and several states are using their own funds to make sure public restrooms get cleaned and visitor centers stay open.

www.reuters.com

Absolutely. They need to make real sacrifice in order to pay down the debt, instead of printing more debts.

Becos in the past, China is willing to absorb US debt. Now the era is different. Wonder why Biden gives in to Xi by releasing Meng? He is desperate to want China to absorb US debt. China is now playing hardball game.

That is actually bad for both countries. When a government is the biggest debtor, one needs to be careful about being its creditor. If inflation goes wild, the debt asset holding of China would depreciate quickly. Creditors are the ones got burnt in any inflation.

 

[antonius123]

Do Americans dare to bet it? If don't dare, hurry up and complete the two lists of China.

What are they?

 

[zectech]

Yes, if China wants to save the USA, it must over issuance a large number of CNY to stimulate production and exchange the US dollar foreign exchange generated by a large trade surplus. This will inevitably lead to inflation and rising house prices in China. However, China's CPI is now 0.8%, which can withstand some inflationary pressures. Of course, the premise is that the USA gives sufficient compensation.

China needs to tread with caution on this. usa is trying to blame China on any usa started crisis. From trumps bioweapon .... To stockmarket crashes on bad real estate news from China (when wall street does not crash on historically bad news out of usa). Stocks artificially go "up" on bad news out of usa. So the impression Washington is doing is bad economic news out of wall street - blame chi-nuh.

Is the usa going to pay for these bonds. trump wants China to pay.

trump is a few years away from the white house and the attempt to not pay China.

So some could argue that China needs a growing us economy for exports, yet there is a better way to solve inflation (since China is a global exporter, not only to the growing irrelevant usa). Get nations around the globe to have solvent currencies, and promote gold and silver as the way to stabilize inflation. That is a very ambitious plan. And would potentially cost hundreds of billions to set up a new bretton woods of equal nations around the globe, it is in China's interest that each currency stabilizes, so work with other countries to back their currency with gold and silver. Start with allies and friends and partners. This could be announced in 2022/3 Gold and silver are very low compared to highs and real valuation, so China should be buying more physical gold and silver, not to drive up the price, instead to get more stockpile for a future of gold and silver holding back currency inflation. Why waste trillions on us dollar based bonds when trump is not going to pay for them. China would have to dump them before trump gets into the white house in 2025.

Since the usa has declared economic war already on the globe and blamed Chi-nuh, it is very difficult to work with the usa as a partner. This is the usas doing. And Washington even plans a military conflict with China with AUKUS.

So much to weigh. Could biden be intending to pay back China, that is the current policy of Washington. And buying more could extend that even longer.

This would also CIVIL WAR the libertarian disillusioned trump supporters when trump and cia attack libertarian gold and silver if China starts an bretton woods of equal nations whose currencies are backed by gold and silver.

A policy of share the wealth, every country a king is only headaches for the cia trolls.

You can't negotiate with Dems after 2025, according to the Dems, Dems want to lose in 2024. Dems could have barred trump from office by declaring the insurrection, an insurrection led by trump. Dems don't want trump barred from the white house. Dems want the options to be crazy trump vs crazy Dems. biden is preparing the return of trump to the white house. biden is a cia dude, the cia staged a color revolution with trump in Jan 2021. So, yes, the Dems are there to lose to Republicans.

The totalitarian end game is after Chi-nuh is gone, which the Amerikans are too dumb to figure out.

cia Dems are using totalitarianism of vaccine mandates merely to get voters angry at Dems, crash Dem approval and have the return of trump. Then the cia get the war on chi-nuh, with voter support of trump against craziness of vaccine mandates. I wrote about this on twitter months ago, the cia controlled battle is banksters (Macron, Draghi, Obama) vs nazis (cia, morrison, trump). The banksters want bankster wars, however use nazis allies of banksters to get those wars. Banksters when in the white house do vaccine mandates and big tech censorship and big brother "gov't". Nazis get into the white house and there are lies about enemies and the start of wars and conflict. Which is what the neo-liberal banksters want, there the banksters want the left wing parties to lose. Because banksters are on the side of the cia, and the cia endless war inc.

If neo-liberal Banksters started each war, not only would there be a civil war on the center-left, there would be accusations that banksters start the wars. Banksters use trump and bush to start the wars. The neo-cons/neo-nazis:

Now trump started the cold war conflict and Dems continue the war policy of Republicans, so biden is unpredictable and unreliable.

 

[nang2]

Yes, if China wants to save the USA, ....

I think the rest of your post is pointless after this phrase. Why would China want to save the USA? By the way, glad to see you have successfully updated your flags.

 

[BHAN85]

fiat money is just paper and bytes.
and they can print all they want.

 

[omegalamba7XL9]

The United States is heading for a cliff -- and taking the world with it
Analysis by Stephen Collinson

Updated 1915 GMT (0315 HKT) September 28, 2021

The Capitol seen at dawn on Monday, Sept. 27, 2021.


This story was excerpted from the September 28 edition of CNN's Meanwhile in America, the daily email about US politics for global readers. Click here to read past editions and subscribe.
(CNN)It's a game of chicken with the global economy.

The United States is heading for a cliff over the need for Congress to lift the ceiling on how much the US government can borrow. If things go wrong, the reverberations will be felt far beyond US shores.

Since the US government spends more than it takes in through revenues, a debt default would force it to stop paying out — so military salaries, government retirement payments and other benefits would dry up. And if the US can't pay interest on its debts, the rates it pays to borrow money will probably rise — meaning that mortgages, car loans and credit card bills would also go up. Millions of Americans would probably lose their jobs and the slowing pandemic recovery would crash. Since the stability of US debt is the bedrock of the global economy, a default by Washington could plunge the rest of the world into crisis.


The unthinkable nature of these consequences is why Washington's warring politicians, generally after a period of brinkmanship and concession wringing, generally bite the bullet and vote in the dead of night to raise the debt ceiling. But this time is different.

Republicans are refusing to play ball because they say President Joe Biden's Democrats are on an-out-of-control spending spree that will balloon the national debt — currently standing at nearly $29 trillion. Their position is deeply hypocritical. For a start, Democrats voted with the GOP multiple times to raise the debt limit under Republican presidents. But more than that, the debt limit must be raised to pay for obligations that the Republicans themselves incurred by voting for massive tax cuts that favored the rich under then-President Donald Trump. It's as if the country went on a tear in Las Vegas for a week and refused to pay the credit card bill.

But Republicans want to wash their hands of the responsibility and accuse Democrats of bankrupting the country, as Biden pushes a $4 trillion bid to reshape the economy to help less well-off Americans. Because so much is at stake, they know that the Democrats will have no choice in the end but to pass the debt limit increase on their own -- and pay the political price.


'We have, frankly, nowhere else to go'
"Governments acting alone cannot overcome the problems facing our world," Canadian Foreign Minister Marc Garneau told the UN General Assembly on Monday, drawing on his own bona fides as former astronaut to make his point. "I have realized... that we all come from the same place and that we have, frankly, nowhere else to go, and that we must find a way to get along with each other," he said. "Space offers the unique perspective of seeing beyond one's own national borders."

The United States is heading for a cliff -- and taking the world with it | CNN

It's a game of chicken with the global economy.

edition.cnn.com

Too bad for the world for believing on False God's of few white mansions...
Regret is what you get when on bet everything on false hood and then you fail..... not a rocket science

 

[MH.Yang]

What are they?

Look at 3#