Uh, we may be fucked here

While all Western eyes remain firmly focused on Greece, a potentially much more significant financial crisis is developing on the other side of world. In some quarters, it’s already being called China’s 1929 – the year of the most infamous stock market crash in history and the start of the economic catastrophe of the Great Depression.
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Let’s see, China’s having severe financial problems, we owe China a shitload of money… China’s gonna come collecting.

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21 Responses to Uh, we may be fucked here

  1. Rob in Katy says:

    We file bankruptcy, sorry sucka’s, you believed our politicians.

  2. Wraith says:

    Well, I have nothing to do with the actions of the fools running this country. But if China wants to try and collect from me personally, I hope they’ll accept payment in lead.

  3. Unclezip says:

    China may try…

  4. Angrymike says:

    Here lies the problem, after the 29 crash America called in all the money owed by the Germans which lead to hyperinflation in Germany, we all know what that lead to. So yes, we are probably fucked…

    • crazyeighter says:

      We’re broke this time, so we’d have to give the Chinese real estate. (National forests, etc.)

  5. Geoff R says:

    China has taken manufacturing from the rest of the world.The rest of the world is going broke because of it and you don’t have to be a smartarse to know there is no money to pay for what the chinese are making.They may be the last one in the hole,but they’re coming.To China it wont make any difference,remember their full name,Communist China,a lot of people seem to have forgot the first part.

  6. Daryl says:

    Give them Detroit and call it even.

  7. Dav343 says:

    Fuck China, they knew what they were buying.

  8. rightwingterrorist says:

    Yes, it’s happening.
    All over the world.
    Hope everyone is ready for the crash of ’15.
    Followed by hyperinflation in ’16.
    Riots in the streets.
    Hungry people.
    Governmental crackdowns.
    Right wing scapegoats.

  9. Exile1981 says:

    https://en.wikipedia.org/wiki/Odious_debt

    We can just toss out our politicians and declare all the money they wracked up as Odious debt and then they would personally be on the hook for that debt not us.

  10. formwiz says:

    As of this morning, before many companies suspended trading, 2.5 T had been lost*.

    The Reds can call in all their paper, but it would be only that – paper. Yellen and Bernanke threw everything else away

    Good for you for paying attention.

    * tweet from wsj reporter. the only one yet to specify a value. stay tuned.

  11. David Martin says:

    China holds a little more than 1 trillion in us treasuries. That’s face value, held to maturity. Cashed in early they are worth much less than that. China has roughly 3 trillion in US cash stored up from a multi year trade surplus. Neither matters though, the Chinese economy (like those of the rest of the developed world) is a bubble, and if it really has popped all the government money in the world wont stop it from collapsing. What this does to the global economy is something we will just have to wait to see, but in a worse case scenario it definitely has the potential to be catastrophic.

    • Sam F. Youte says:

      ” The foundations of capitalism are being battered by a flood of ALTRUISM , which is the cause of the modern world’s collapse.” Ayn Rand , Capitalism : the unknown ideal …

      All , get those beans, bullets & band-aid’s squared away if ya been draggin yer feet .

      hold on to yer butt’s , it appears a repeat of 2008 is on the horizon ….

      John galt lives !

      S.F.Y Out …

  12. rightwingterrorist says:

    In light of today’s infonet “glitches”
    UAL, NYSE, WSJ, and Zero Hedge.
    You’ve got to watch this
    We’re under attack.

    http://map.norsecorp.com/

  13. AC says:

    NYSE suspended trading earlier – “technical glitch.”

  14. KISS IT ALL GOODBYE! says:

    China isn’t worried. Oreo our fearless leader has his eyes on all of our 401k’s. Think I am kidding? Try doing a search on 401k seizure and see the real facts. Enough to pay off the Chinese and still enough left over for good old fashioned global war. But we don’t manufacture anything anymore. More money to china. Cha Ching!

  15. I truly and fervently believe we should tell China to kiss our roses asses. Let them take the Obama regime, all of the tyrannical bureaucrats, congress, and the federal courts in payment.

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