CHINA WILL SINK US by Bill Bresnan, Radio host and author

With the bubble bursting in China as we speak…….(remember China is the world’s SECOND LARGEST ECONOMY)..Their markets are down over 30% (THAT’S THIRTY PERCENT) in spite of the Chinese government throwing everything INCLUDING the kitchen sink against this slide.

Their economy is slipping with whole towns, never mind just newly constructed buildings, VACANT all over the country…..and their currency is dropping………….. and this is just for openers.

Our problem is what do we do if they stop buying United States debt and start to redeem the

$1,263,400,000,000(THAT’S ONE AND ONE QUARTER TRILLION DOLLAR$$$$$) of United States Treasury securities they hold that are propping up our own MESS????

What is happening to all the American pensions, 401Ks, IRAs and other retirement accounts that hold Exchange Traded Chinese funds whose value is dropping by double digits??????? Such funds,  fully invested in the Chinese market, are down that 30% already, robbing Americans of their secure retirement dreams.

Will they continue to take in the $121,700,000,000 of imports we sell them every year or will our trade imbalance with them go up to $400,000,000,000 ++??????

Wake up America this and the Greek mess are just portends of a more expansive GLOBAL ECONOMIC CRISES that we are ignoring while focusing on the absurd politics and idiot politicians we’ve elected to address such economic problems.

Remember, in spite of all media spin and political rhetoric, it is an ECONOMIC FACT ETCHED IN STONE………..No person or country can borrow themselves out of debt.   P E R I O D.