Gruss Gott wrote: > If the Chinese wanted to, right now, they could start selling dollars > which would cause economic calamity in the US for months, years, or > forever. The fed would have no choice but to raise rates > stratospherically which would sink us into a depression or worse. > They need our dollars in more than one way.
According to the CIA Factbook, we are China's largest consumer of goods (21% if I read that correctly) https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html This means that if we wanted to, right now, we could stop importing anything from China which would cause calamity in China for months, years, or forever. Mutually assured destruction kept us safe in the cold war, now in economic terms, it will do the same. Sure, there are no guarantees, but things would have to get MUCH worse for them to start damaging our ability to buy stuff from them. -Cameron ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;192386516;25150098;k Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:257743 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
