...But of these sophisms and elenchs of merchandise I skill not...
Milton, Areopagitica

Except he had found the
standing sea-rock that even this last
Temptation breaks on; quieter than death but lovelier; peace
that quiets the desire even of praising it.

Jeffers, Meditation On Saviors



oh domino:

Much is made of the dangers to the United States if we leave the current situation to spin (further) out of control without our presence and guidance. John McCain, who should know better, claims this to be different from Vietnam because, with Vietnam, they were not going to attack us over here. Any careful reading of the Vietnam era, however, belies such statements: similar claims were made about fallen dominoes and the "red" menace coming to the shores of the United States.
Abrams/Huffington 19.Nov.06
roll me over Romeo:
...around $5.7 in Chinese exports to the U.S. for every $1 in Chinese imports from the U.S.
there you go:
Federal Reserve Chairman Ben Bernanke played down fears expressed by U.S. lawmakers that China might shake the U.S. economy by selling significant chunks of the U.S. debt it holds.
In his first appearance before the Senate as the head of the U.S. central bank, Bernanke was pressed by Banking Committee members on the question of the U.S. economy's vulnerability to changes in China's U.S.-dollar denominated assets.
But Bernanke said he is not "deeply" concerned about the issue.
"I don't think that the Chinese ownership of U.S. assets is so large as to put our country at risk economically," he said February 16.
At the end of 2005, China, with $820 billion in such assets, was the second-largest holder of U.S. debt after Japan, which held about $10 billion more.
The ultimate consequence of monitizing US debt is that it expands the money supply which, various schools of economics believe, results in inflation. In recent years, the debt has soared and inflation has stayed low, but, as China currently holds over $1 trillion in dollar denominated assets (of which $330 billion are US Treasury notes), that situation could change should China ever chose to divest itself of a portion of those reserves.

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