Monday, May 4, 2009

Chinese: U.S. a poor credit risk

U.S. Rep. Mark Kirk is acknowledging in this report from Agence France-Presse what we have been saying for over a year -- China is getting leery of buying paper from a creditor that has over $60 trillion in unfunded liabilities (and growing).

After paying a visit to the Bureau of Public Debt, which trades bonds, he was "alarmed at how much debt was being bought by the US Federal Reserve due to absence of foreign investors."

In other words, he has just admitted that we're starting to print money.

But the Chinese are smarter than we are -- they're going to bail out before they need a bailout.

Virtual buckeye to JBZ at the Ohio Freedom Alliance.

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