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Billary Clinton has been expounding all economical lately about the “risks” posed by the ownership of US treasury bonds by foreign governments, as is discussed in this WSJ article. She says that the large positions in treasury bonds makes the United States vulnerable. As is so often the question with the Clintons, is she stupid, or is she a liar? What, exactly, is the risk? Are the chicoms going to come repossess the Pentagon? Are they going to ruin our credit with one phone call? In her letter to Ben Bernanke and Hank Paulson, she cites the possibility that the Chinese or the Japanese would decide to decrease their holdings of dollars, presumably, if her position has any logic to it all, by massive selling of their US Treasury bonds. She says that this step could force us to raise interest rates, and could cause a currency crisis. I am not sure what she means by “currency crisis,” but, examining this scenario a little, does it really make sense that the chicoms or the Japanese would conclude it was a good idea to enter into concerted selling of their positions? Would it not be likely that this strategy would guarantee that they would receive the lowest possible prices for their holdings? Would this really be attractive to them?
Billary also seems to suggest that the chicoms’ holdings of US bonds makes us their hostage. Actually, the reverse is the case. We have their money. They are dependent on us to pay them their interest, and to redeem their bonds upon maturity. Their financial security is thus heavily dependent on a healthy US economy, with low inflation and high economic stability. As Donald Trump has been known to observe, if you owe the bank $200,000, and you go bankrupt, you have a problem. If you owe the bank $200 billion, and you go bankrupt, the BANK has a problem.
Now, I did not go to Yale, and I do not have advanced degrees in economics. I am not the smartest woman in the room. Doesn’t Hillary understand these highly uncontroversial, quite obvious, points I have made? Is she a liar? Or is she stupid?
It just makes me laugh out loud to hear people who aspire to be taken seriously talk about the possibility of Barack Hussein Osama getting elected president of the United States in 2008. There is absolutely no way this is going to happen, as long as the GOP doesn’t nominate Bob Dole. Barack Hussein Osama seems like a nice enough guy. He is a good looking dude. He is not afflicted, as far as I can tell, with Poverty Pimp Disorder, as are Al Sharpton, Jesse Jackson, and Sheila “I am the stupidest woman in Congress” Jackson Lee. Some day, god willing, the color of a dude’s skin will matter less than the color of a dude’s eyes when it comes to electing the president. But you have to be delusional to think that this day could arrive in 2008.
I am not saying that it is a good thing that race matters in the 2008 presidential election, but, c’mon, let’s face reality. But even beyond the dude’s race, and my little jest about his last name aside, the dude’s middle name is Hussein. The United States is the country that renamed sauerkraut during World War I, and we renamed French Fries during Gulf War II.
Most sane adults recognize that there is a distinct possibility that this nation, and the rest of the western world, are one day soon going to have to fact the fact that we are at war with Islam. For sure, if the part of the Islamic world that doesn’t want this to happen doesn’t definitively kick the asses of the part of that does, this day is going to come pretty frickin’ soon. Is Obama muslim? I believe he says “not,” but I gotta tell ya, dud’n matter. Nixon said he wasn’t a crook. Fellatio boy said he did not have sex with that woman. You can’t rule out the possibility that Rupert Murdock is going to come up with photos of Obama kneeling towards Mecca in October 2008.
Again, these are not necessarily honorable, good, sane, just reasons for the impossibility of Obama’s election in 2008, but, I again implore the honorable members of the 5th estate to face reality. Are the ratsocrat primary voters really insane enough to nominate Obama? As nutty and wacky and kleptocratic as the average ratsocrat primary voter is, I just can’t accept this.