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The VIPER Garage  |  Miscellaneous Discussions  |  Off Topic  |  China owns the USA
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Author Topic: China owns the USA  (Read 1349 times)
Sybil TF
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« on: January 17, 2014, 09:02:29 AM »

I was watching Fox business news and they were talking about China owning 1.3 trillion of US debt and rising. They are building up their military, growing like crazy. And buying US food production companies. If they cashed in their US debt we would collapse in hours financially.

I'm worried. Looks to me like they are going to take us out!

What do you guys think?
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Steve 00RT/10
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« Reply #1 on: January 17, 2014, 10:21:24 AM »

I was watching Fox business news and they were talking about China owning 1.3 trillion of US debt and rising. They are building up their military, growing like crazy. And buying US food production companies. If they cashed in their US debt we would collapse in hours financially.

I'm worried. Looks to me like they are going to take us out!

What do you guys think?

I think you're watching WAY too much FOX news.  :(

 None of what you fear from watching whatever you did is going to happen.  Fear mongering is all it is. It's simple.  We need them....they need us

Economically they will eventually dwarf us because they have 4 times as many people. I see nothing wrong with that.  It will add to global economic GDP and will benefit  us from an export standpoint.  They already dwarf us in new car sales for a few years now.  Something like 20 million a year.  The US wants a bigger piece of that market.  One of the main reasons the Buick label still exists is because the Chinese..since Mao..have considered Buick to be a bigger status symbol than Caddy and Lincoln. The interior of the new style Buick Lacrosse was designed by the GM Chinese design team.  The Chinese bought 4 times as many Buicks as were sold in the US in 2013.  (810K to 205K).  All other car brands doing business there also saw a big jump. 

Military:  We spend 4 times as much as they do per year.  2 times as much as a % of GDP.  I don't find them increasing spending alarming at all.  Perhaps they can eventually shoulder more of the burden in the world instead of the US having to bankroll it all....much to our budget detriment..  China is actually a country I would like to visit.  I don't consider them an enemy at all. I know several people who have lived / are living and working there. I would feel safer there than many other countries we are considered friendly with

Debt:  They own about 8% of our debt....just like Japan.  The US still holds the majority of our debt.  The only way for bad things to start happening is if we don't get things in order...or on the path to order.  Even a worst case scenario would not have them cashing it all in.  Doing so wouldn't just hurt us badly, it would damage the entire global economy....themselves included.  Exports make up a large portion of their GDP.  They export double what we do as a % of GDP. They would simply start to reduce holdings in dollars and move them to another currency.  So would the other countries that own our debt. For as far as anyone can legitimately look out, the dollar is not going away as the world's premier trading currency. 

Steve
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ViperJeff
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« Reply #2 on: January 17, 2014, 12:17:56 PM »

Steve, I agree
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Sybil TF
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« Reply #3 on: January 17, 2014, 02:45:40 PM »

Ok I can sleep now. :D
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Viper Nation - ezine
« Reply #4 on: January 17, 2014, 07:31:05 PM »

 :D

If Canada and the US weren't so busy taxing all of us China wouldn't be such a huge presence in North America.  Shipping from China is less than 10% of Canadians shipping from the US and shipping from China is cheaper than shipping 1000miles within Canada.  Yes, ignorant gas taxes, road taxes, etc etc.  I can buy costume jewelery from China for $3 or buy it for $10 in the US and pay $25 shipping.

Now ebay has huge Internation charges which I don't get.  Ebay duty?  Ebay extra border crossing shipping charges?  Anyway a significant exstra shipping charge added to the already ridiculous shipping charges.  You get the international charges automatically so there's no USPS option.  It's been awhile since I bought anything from ebay. 

Now when I buy tires it's much cheaper to drive for the 20 hours and pick my stuff up from friends in the US and drive it across the border in my car/truck.  I pay all the taxes (12% plus enviro fees and any duties - yes I know there's supposed to be a FREE TRADE agreement - but we still get charged extra duty).

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1999 1200rwhp TT GTS - ART, 2001 Roe sc GTS- (4 sale), 440 Duster restomod (sold), 3x Stealth TTs, 92 Daytona IROC with T3, 580whp/1080wtq Cummins pickup.
Steve 00RT/10
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« Reply #5 on: January 19, 2014, 10:10:28 AM »

:D

If Canada and the US weren't so busy taxing all of us China wouldn't be such a huge presence in North America.  Shipping from China is less than 10% of Canadians shipping from the US and shipping from China is cheaper than shipping 1000miles within Canada.  Yes, ignorant gas taxes, road taxes, etc etc.  I can buy costume jewelery from China for $3 or buy it for $10 in the US and pay $25 shipping.

Now ebay has huge Internation charges which I don't get.  Ebay duty?  Ebay extra border crossing shipping charges?  Anyway a significant exstra shipping charge added to the already ridiculous shipping charges.  You get the international charges automatically so there's no USPS option.  It's been awhile since I bought anything from ebay. 

Now when I buy tires it's much cheaper to drive for the 20 hours and pick my stuff up from friends in the US and drive it across the border in my car/truck.  I pay all the taxes (12% plus enviro fees and any duties - yes I know there's supposed to be a FREE TRADE agreement - but we still get charged extra duty).

You must have it bad up there Ted!  :D  My overall tax rate has never been cheaper in my life than right now.  Heck, down here, a married couple can make up to $92K or so in joint income and pay the lowest tax rate...15%.... filing the short form.  Capital gains taxes have never been lower for the vast majority of people here. They are 13% lower than when Reagan was president.

The federal gas tax ($.184) in this country hasn't been raised in over 20 years.  Absolutely ridiculous!  It can no longer cover road infrastructure. Big trucks are chewing up our roads much faster than ever before since RRs were put to bed in many parts of the country the last several decades.  The federal gas tax here should be over a dime higher right now just to keep up with inflation.  That still may not do it with all vehicles getting better MPG.  The whole thing needs to be re-thunk....Trucks should pay more than they do and more freight RR lines are needed.  RRs are MUCH more efficient for hauling freight long distances than big trucks.

Steve
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Viper Nation - ezine
« Reply #6 on: January 19, 2014, 08:09:09 PM »

Watch what you asl for Steve ...  The Liberals added a "Carbon Tax" and sell Carbon credits.  What a load of BS.  BC and Ontario are Liberal gov and they have the highest fuel prices in Canada.  BC and Alta are even the suppliers for nearly all of the western zones of Cda and the US.  When Texas has a flood or other serious problems, it's Alberta that gets a price increase because all the available fuel (mostly diesel) leaves Alta by train and goes south to fuel Texas.

I think the Liberals copy the highest tax laws in the world.  They copy lots of European taxes although we seem to have higher taxes than them as well.  If I didn't own so much of BC I would choose to live in Alberta becvause the cost of living there is so much cheaper.  Gas is nearly 10% cheaper and there are a lot of taxes Albertans never heard of.  They also have reasonable vehicle insurance.  For what I pay for my DD, I could insure 3 or 4 cars in Alberta.  No discount for more than one car here, you pay insurance (with 4.4% tax) on each  car.  When I asked for fleet discount they told me they would charge me an extra 30% on each of the 5 vehicles ...  Thieving system.

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1999 1200rwhp TT GTS - ART, 2001 Roe sc GTS- (4 sale), 440 Duster restomod (sold), 3x Stealth TTs, 92 Daytona IROC with T3, 580whp/1080wtq Cummins pickup.
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