China’s economy is getting very dangerous, will affect the US – Thom Hartmann
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As the US stock market plunged in a chaotic opening on Monday, with the Dow rebounding from a 1,000-point loss to close down 588 points, average citizens are concerned about how market losses will affect them. Thom Hartmann from “The Big Picture” talks with Manila Chan about volatile markets around the globe. Find RT America in your area: http://rt.com/where-to-watch/ Or watch us online: http://rt.com/on-air/rt-america-air/ Like us on Facebook http://www.facebook.com/RTAmerica Follow us on Twitter http://twitter.com/RT_America
Comments
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so the dude says that china just doesn't have the domestic market for their own goods which they've been selling to the west.
now that america isn't buying much anymore (since u.s. wages fell along with jobs), china has nowhere to go but down.
chinese bribed clinton to let them dump shit in walmart .
trump means to hit chinese imports hard with duties to correct the trade imbalance so manufacturing jobs return. -
We can not afford to eat boiled eggs, we can only eat bark. China is fake.
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While China is rising, America is shrinking. The US has massive debt of over 18 trillion dollars now both in public and foreign debts. In 2014, U.S. Treasury has accumulated $17.8 trillion worth of debt. That's roughly 103% of the total U.S. GDP in 2014 and 34% of that debt – $6.1 trillion – is owned by foreign governments. The US own 1.261 trillion $ dollars in bills, notes and bonds to China. That's more than 20% of the U.S. total foreign debt. To put China's ownership of U.S. debt in perspective, its holding of $1.2 trillion is even larger than the amount owned by American households. U.S. citizens hold only about $959 billion in U.S. debt.
China is not the only one that US owns to though. Other large foreign holders of U.S. debt include Japan, which owns $912 billion; the United Kingdom, which owns $347 billion; Brazil, which holds $211 billion; Taiwan, which holds $153 billion; and Hong Kong, which owns $122 billion. But out these China is the largest US debt holder. But just to bear in mind that these were in 2014. Now the debt would be even higher than these. And the US debts to china is still increasing.
which beg the question, how is the US gonna pay all its debt? US has debt over 103% of its total GDP, if your debt is larger than your income, how the hell are you gonna pay the debt?
To illustrate this, Say my income is $10,000 dollar per year, and I got $12,000 dollars debt. The only problem is even by $10,000 dollar per year, I am still struggling to pay the check, rent, let alone the debt. Cut my spending is already out question because i'll be even more struggle than before or even homeless. So what can i do ? only option is borrow more money and more money. this is what happen to US! -
Look at what kind of ppl in Chinese stock market ? Most are retired old folks. They invest their small part of retiring money in stock then play Tai Chi or dance in the park. Their children feed them as well. Ignorant westerners really need to know some Chinese unique economic actions influenced by traditional culture.
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I hope it helps lead to the collapse and destruction of the American economy.
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CHINA'S ECONOMY IS NOT GOING TO CALAPS, AMERICA IS TEN TIME MORE LIKE TO CALAPS THAN CHINA'S BASE ONLY ON THE DEBT MARKETS, NOT COUNTING THEIR ECONOMIC GAINS, WHICH ARE RISING CONTINENTLY.
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US economy is on the bring to collapse anyway without chinese do this. an excused to divert attention away they their own economic mismanagement
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May I add that Ron Paul predicted this long ago, aswell. If only he was president... oh well! to bad he was outcasted for being to "radical."
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Buy gold silver and food...that should have been the title of the book
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every one knows that Chinese products are very cheap and breakable ...its not long lasting ..Chinese stock market is one of the biggest example ... so its my humble request to all global investor ..look at India .. India is the world most safest investment destination and good quality goods producer ...
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"Are we dangerous?"
"Yeah, we're dangerous here."
~USA Economy and World Peace under Barrack Obama Hussein III. -
Chinese economy is maturing.
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Big Trouble in Little China was a great movie BTW!
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USA exports to 70 odd countries, china exports to over 120 countries, who is more exceptional?? it is all coming to a hilt people, please be safe.
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lets remember people, anywhere in the world, it is not your bank account, it is the BANK's bank account you have access to, AT THE MOMENT, unless one can stand in front of or on and defend a tangible asset it does not exist, people. 16 days until Shemitah, will RT do a story on the Shemitah!!!? Jubilee year!!!
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Americans love to talk about the negatives of other countries. This just tells you how much pain they are suffering and how much fear it is in their hearts.
They assume if they had a collapse or a bubble. Other people must have it , too.
They are willing to make "exporting" sound like a negative. Yeah..let's just not make anything and just buy things with credit. -
The 1/7 of American assets held by Chinese, that he mentioned, is nearly all real estate. namely family houses, condo's, bought by wealthy Chinese to give them a bolthole in US, should they need to flee China, and a safe place to park their money. Those houses, were themselves overbuilt during mid 2000's real estate bubble, and would seat empty, and not generate tax income for the municipalities where they are located. A property that is owned, generates a annual income for local government via real estate tax assessments. This is a win-win for Americans and Chinese. Same thing happened to Japanese in 1980's and early 1990's, when Japan went on a real estate bying spree.
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Hi I'm running an online survey for China Daily about US&China relations. Plz fill it out if you are interested! http://www.sojump.com/jq/5660078.aspx
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everything is made in China. when China stock goes down, all countries drop too.
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americas paying their debt with america with shitty cash and americas chukking gold back why dont know body know whats going on russia and china has done a deal they new the yuan would of done this thats because they want to start a global currency witch is gold so you all know
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