In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘US debt’

UK holdings of US government debt increase substantially

Posted by seumasach on February 17, 2010

While everyone else is getting out of US debt, the Brits are obligingly stepping in. We now have over 300 billion in potentially worthless paper at a time when there are growing problems in getting people to buy up our own worthless paper. Hereis another own goal to rank along with selling our gold reserves for a song.

RIA Novosti

17th February, 2010

China has ceded its position as the largest foreign holder of U.S. Treasuries to Japan after occupying top spot for 15 months, the Chinese official news agency Xinhua said, citing the U.S. Treasury Department.

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China alarmed by US money printing

Posted by smeddum on September 7, 2009

China alarmed by US money printing

Telegraph

The US Federal Reserve’s policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.

By Ambrose Evans-Pritchard, in Cernobbio, Italy

06 Sep 2009

Working for the Yankee dollar: Beijing is said to be dismayed by the Fed’s recourse to ‘credit easing’ Photo: Reuters Cheng Siwei, former vice-chairman of the Standing Committee and now head of China’s green energy drive, said Beijing was dismayed by the Fed’s recourse to “credit easing”. Read the rest of this entry »

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US to lose AAA rating on debt

Posted by seumasach on November 12, 2008

 

CNBC

10th November, 2008

click on above link to see video

The United States may be on course to lose its ‘AAA’ rating due to the large amount of debt it has accumulated, according to Martin Hennecke, senior manager of private clients at Tyche.

 

“The U.S. might really have to look at a default on the bankruptcy reorganization of the present financial system” and the bankruptcy of the government is not out of the realm of possibility, Hennecke said.

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Paulson Plan May Push National Debt to Post-World War II Levels

Posted by smeddum on September 23, 2008

Paulson Plan May Push National Debt to Post-World War II Levels
By Matthew Benjamin

“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.” Hmmm! What is wrong with this picture?

Sept. 23 (Bloomberg) — Treasury Secretary Henry Paulson’s $700 billion proposal to stabilize the banking system may push the national debt to the highest level since 1954, threatening an erosion of foreign appetite for U.S. bonds.

The plan, which asks Congress for funds to buy devalued securities from financial institutions, would drive the debt above 70 percent of gross domestic product and the annual budget gap to an all-time high, possibly exceeding $1 trillion next year, economists estimated.

“This is sobering, absolutely sobering, even to someone who doesn’t drink,” said Stan Collender, a former analyst for the House and Senate budget committees, now at Qorvis Communications in Washington. Read the rest of this entry »

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