Ace of Spades HQ

December 23, 2010

Wow: China To Bail Out Europe?
— Ace

They're really pushing for top-dog status, and really seem to have so much money they can burn a lot of it.

China has said it is willing to bail out debt-ridden countries in the euro zone using its $2.7trillion overseas investment fund.
In a fresh humiliation for Europe, Foreign Ministry spokesman Jiang Yu said it was one of the most important areas for China's foreign exchange investments.
The country has already approached struggling European countries with financial aid, including offering to buy Greece's debt in October and promising to buy $4billion of Portuguese government debt.
'To have any discernible effect China will have to buy a lot more than 5billion euros if they expect to have any impact on the negative sentiment surrounding Europe,' said Michael Hewson, currency analyst at CMC Markets.
China's astonishing economic growth has put it on track to overtake America as the world's economic powerhouse within two years, a recent report claimed.

I think this is a good thing. It means China's investing in stability and certainty, and aligns its interest more with our own (and against Iran and North Korea). When you invest in the established order you're more hostile to troublemaking threats to the return on your investment.

Posted by: Ace at 09:44 AM | Comments (158)
Post contains 216 words, total size 1 kb.

1 China's astonishing economic growth has put it on track to overtake America as the world's economic powerhouse within two years, a recent report claimed. They're going to double the size of their economy in two years? Bull. More than a few economists think China is cooking the books - big time - and will suffer a horrific collapse.

Posted by: CoolCzech at December 23, 2010 09:46 AM (tJjm/)

2 I think this is a good thing. It means China's investing in stability and certainty, and aligns its interest more with our own (and against Iran and North Korea).

There's a flip side, though. We've bought a lot of influence with our cash over the years. Presumably that money will have strings.

Posted by: Ace's liver at December 23, 2010 09:47 AM (XIXhw)

3 I think this is a good thing. It means China's investing in stability and certainty, and aligns its interest more with our own (and against Iran and North Korea). When you invest in the established order you're more hostile to troublemaking threats to that order.

I agree.

Ok everyone, weekly office parties are back on!

Posted by: Some Greek Bureaucrat at December 23, 2010 09:47 AM (7BU4a)

4 There's a flip side, though. We've bought a lot of influence with our cash over the years. Presumably that money will have strings.

Posted by: Ace's liver at December 23, 2010 01:47 PM (XIXhw)

Wait, we are supposed to get thing when we give people money? Since when?

Posted by: SoS Hillary Clinton at December 23, 2010 09:48 AM (7BU4a)

5 Isn't this technically the U.S. bailing out Europe? It's all our money anyway, the Chinese just launder it for us.

Damn Chinese launderers.

Posted by: Actually at December 23, 2010 09:48 AM (yFU0t)

Yoo hoo! President Hu!

*bats eyelashes*

Posted by: California at December 23, 2010 09:48 AM (QKKT0)

7
What a terrible investment, though.

Think about it.

Would you invest in a failing company deep in debt with lay-abouts for employees?

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 09:49 AM (uFokq)

8 "just to be clear, we do not wish to be paid back in clunkers." pres. hu

Posted by: joeindc44 at December 23, 2010 09:49 AM (QxSug)

9 Coming soon: The People's Republic of California.

Posted by: Fritz at December 23, 2010 09:50 AM (GwPRU)

10 srsly tho, an economy based on making rubber chickens and building empty cities seems pretty strong. I guess that's the benefit of not paying workers.

Posted by: joeindc44 at December 23, 2010 09:50 AM (QxSug)

11 Would you invest in a failing company deep in debt with lay-abouts for employees?

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 01:49 PM (uFokq)

Umm, yes?

Posted by: Troubled Asset Relief Program at December 23, 2010 09:50 AM (QKKT0)

12 More than a few economists think China is cooking the books - big time - and will suffer a horrific collapse.

This. Or, rather, this.

Posted by: Ace's liver at December 23, 2010 09:51 AM (XIXhw)

13 There's a flip side, though. We've bought a lot of influence with our cash over the years. Presumably that money will have strings.

Posted by: Ace's liver at December 23, 2010 01:47 PM (XIXhw)

Yes, the French in particular are known for their appreciation of their benefactors, for years to come.

Posted by: Sad Dalek at December 23, 2010 09:51 AM (z1N6a)

14
What security does China have?

Gotta be collateral, right? For instance, the Parthenon.

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 09:51 AM (uFokq)

15 Coming soon: The People's Republic of California.

"Coming"? Where have you been?

Posted by: Ace's liver at December 23, 2010 09:52 AM (XIXhw)

16 China's astonishing economic growth has put it on track to overtake America as the world's economic powerhouse within two years, a recent report claimed.

Malarkey. China is currently inflating the Mother of All Bubbles, with its building of lavish "factory" cities with nobody to live in them simply to create enough arificial demand to keep its unemployment down. When that bubble pops...only chaos, and there isn't enough of the Chicoms horses or men to put that house of cards back together again.

And does anybody, save for the Tom Friedmans of the world, really believe any of China's self-reported economic indicators? Me neither.

Posted by: Kratos (Ghost of Sparta) at December 23, 2010 09:53 AM (9hSKh)

17
We joke, but the naming rights to the US Naval Fleet will be sold to corporations or perhaps even China...who will own the US corporations.

USS Dunkin Donuts
or
USS PRC

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 09:53 AM (uFokq)

18 And I thought the Japanese buying up California in the 1980s was a bad investment.

Posted by: Oldcat at December 23, 2010 09:53 AM (z1N6a)

19 Errr... since China is loaning Europe money so it can pay off debts it would otherwise default on, what happens when Europe defaults on its debts to China?

Posted by: ed at December 23, 2010 09:53 AM (QLhy5)

20 California will be a Chinese Special Autonomous Region. Autonomous like Tibet.

Posted by: Cicero at December 23, 2010 09:53 AM (QKKT0)

21 13 There's a flip side, though. We've bought a lot of influence with our cash over the years. Presumably that money will have strings.

Posted by: Ace's liver at December 23, 2010 01:47 PM (XIXhw)

Yes, the French in particular are known for their appreciation of their benefactors, for years to come.

Posted by: Sad Dalek at December 23, 2010 01:51 PM (z1N6a)

Oh, there's definitely a layer of prideful bullshit slathered over it. But even with Chirac and Shroeder (spit) in charge after 9/11 French and German intelligence services worked very closely with ours. Until it went public. But that's the way spook stuff works - once it goes public you have to stop whatever you're doing.

Posted by: Ace's liver at December 23, 2010 09:54 AM (XIXhw)

22 And does anybody, save for the Tom Friedmans of the world, really believe any of China's self-reported economic indicators? Me neither.

Posted by: Kratos (Ghost of Sparta) at December 23, 2010 01:53 PM (9hSKh)

You mean communists would lie? When does that ever happen?

Posted by: Oldcat at December 23, 2010 09:54 AM (z1N6a)

23 I cannot believe that China is printing money faster than the EU or America. As the country that put the first man on the moon, I know we can do better, and print money faster than any other country! USA! USA! But we don't want Europe. How about Tahiti, Brazil, you know, countries with babes and beaches. Maybe Korea, I hear the steamed clams there are something else.

Posted by: cali grump at December 23, 2010 09:55 AM (hL0k8)

24 California will be a Chinese Special Autonomous Region. Autonomous like Tibet. Posted by: Cicero at December 23, 2010 01:53 PM (QKKT0) I just started picking up Spanish too. Fuck Mandarin.

Posted by: CAC at December 23, 2010 09:55 AM (lV4Fs)

25 The Chinese haven't weeded out all of the filthy hippies and non Asian illegals, - yet.

Posted by: Fritz at December 23, 2010 09:55 AM (GwPRU)

26 There is an excellent book, Eat the Rich, which talks about the 'crash' in Russia after 1991. There wasn't one- because all of the data from the Soviet Era to compare 1992 levels was bullshit anyways. It is why Russians were living in squalor while simultaneously having incredible stockpiles of raw materials and food. No actual track of where anything really went. When China bursts it will be 10x worse than the housing bubble here.

Posted by: CAC at December 23, 2010 09:58 AM (lV4Fs)

27 Anyway - and it needs to be said - I for one welcome Europe's New Chinese Overlords. Couldn't happen to a nicer bunch of guys.

Posted by: CoolCzech at December 23, 2010 09:58 AM (tJjm/)

28 Investing in a collapsing Europe is foolish.

Posted by: FlaviusJulius at December 23, 2010 09:59 AM (SJ6/3)

29
Meanwhile back in the United States...

we're putting 'all the marbles' in the hope of a 'green' economy.

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 10:00 AM (uFokq)

30 It means China's investing in stability and certainty..

Or China needs some more seed money to modernize and expand the People's Liberation Army for the glorious task of "reuniting" Taiwan with the Motherland.

The cash-flux the Chicoms will receive once interest rates get back to even historic levels will be legendary...

Posted by: Kratos (Ghost of Sparta) at December 23, 2010 10:00 AM (9hSKh)

I always thought the Chinese would fuel the next boom in Tangible Assets...

but I never thought they would do it by extending the Euro-Zone more Credit!?!?

Hey Europe, don't put down your Coke.

Posted by: garrett at December 23, 2010 10:01 AM (teqkw)

32 If Hu didn't like Obama doing sex to him, wait until he gets bent over by the Greeks.

Posted by: JackStraw at December 23, 2010 10:02 AM (TMB3S)

33 29
Meanwhile back in the United States...

we're putting 'all the marbles' in the hope of a 'green' economy.

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 02:00 PM (uFokq)

Apparently that's Caleefornia's only hope for fiscal solvency.

Nah, doesn't make sense to me either.

Posted by: Ace's liver at December 23, 2010 10:02 AM (XIXhw)

34 We're Like California with a 2000 Year Head-Start

Posted by: Euro-Slogan Generator at December 23, 2010 10:03 AM (teqkw)

35
Indeed, who will stop China from annexing Taiwan, now?

The UN? The US? The EU?

China holds the notes on all of them.

btw,Tibet, you're fucked.

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 10:03 AM (uFokq)

36 It is a good thing. As long as they force food safety laws down their collective throats.

Posted by: Jim Badass DeMint at December 23, 2010 10:05 AM (EL+OC)

37 I can see the bad investment argument. But the Chinese have already been fucked. The money they have is in euros and dollars.

Posted by: Randy Jackson at December 23, 2010 10:05 AM (V6CZ8)

38 Errr... since China is loaning Europe money so it can pay off debts it would otherwise default on, what happens when Europe defaults on its debts to China?

We do too, and shortly thereafter there is no China. Or rather, there's like 12.

Posted by: Methos at December 23, 2010 10:06 AM (Ew1k4)

39 35 Indeed, who will stop China from annexing Taiwan, now? The UN? The US? The EU? China holds the notes on all of them. Yeah? SO? If China refuses to lend us a dime more next year, I say GOOD - we'll have to live within our means. On the other hand, if we decide we won't pay China back, it means their vaunted economic miracle just went down the shitter. Really, there is nothing new under the sun. What is being said about China now was said about Japan back in the 80's. Rather than fret over China, let's do our best to get rid of Obama.

Posted by: CoolCzech at December 23, 2010 10:06 AM (tJjm/)

40 Hu, hu, hu, it's Christmas!

Posted by: Santa at December 23, 2010 10:06 AM (fEJbu)

41 Llama, Lama, Llama, Llama, Llama, Llama, Llama...

Posted by: Dali Llama at December 23, 2010 10:07 AM (teqkw)

42 Isn't there a story about a city that was under siege and was about to starve to death. So, they decided to catapult their last cow at the enemy. The thinking was, if the enemy thought they had so much food they could launch cows at them, then the enemy would give up and end the siege. It worked.

My second thought was, anyone (Goldman Sachs) up to their hips in Euro debt purchases must be chubbin' to think someone will be dumb enough to get them off the hook, right?

Posted by: The Hammer at December 23, 2010 10:08 AM (NI88S)

43 Indeed, who will stop China from annexing Taiwan, now?

Um, hello?

Posted by: Taiwan's universal military service laws and the toys we got from America back when we were allies at December 23, 2010 10:08 AM (Ew1k4)

44 #43 Let's give Obama to China.

He should go home.

Posted by: Helen Thomas at December 23, 2010 10:09 AM (9hSKh)

China lining up against Iran? Maybe, maybe not. NK, sure, they have nothing the Chinese want. But Iran has fuel. Until China solves its incapacity to generate enough power to move its billion or so peasants into the middle class, it's going to be nothing but bubble city.

They've got to do something like triple their power output to do this and they can't do it internally, so they have to go outside their borders. Iran is their best bet because barring some major advancement in physics China ain't about to go green anytime in the next generation or two.

Posted by: Burn the Witch at December 23, 2010 10:10 AM (fLHQe)

46 this is all about ownership...China wants to be the boss. they now hold sway over us and will soon over EU...that leaves the oil rich countrys that are muslim in one corner, the russian/chinesse in another ...and the rest of the world will work for them. soon, russia and china will move to take over the muslim oil nations as well.

Posted by: doom/gloom at December 23, 2010 10:10 AM (gjUaP)

Isn't there a story about a city that was under siege and was about to starve to death. So, they decided to catapult their last cow at the enemy.

Zees ees how we beat back those silly English Kuh-nigits.

Now Go Away...or I shall Taunt you a Second Time!

Posted by: French Tower Guard at December 23, 2010 10:11 AM (teqkw)

48
doom is right; this is not about profit, it is about power.

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 10:12 AM (uFokq)

49 So lets get this straight. We are blowing money we don't have. Europeans are blowing money they don't have. China is offering to buy off debt but it is doing so with money it probably doesn't have. The UAE is doing the same. Russia the same. South America the same. So when the worldwide fiscal house of cards collapses... the Middle East, India, Australia and Africa rule the world?

Posted by: CAC at December 23, 2010 10:13 AM (lV4Fs)

50 So when the worldwide fiscal house of cards collapses...
the Middle East, India, Australia and Africa rule the world?

Posted by: CAC at December 23, 2010 02:13 PM (lV4Fs)

Well, yeah, I had to go with plan B after the rousing success of START.

Posted by: Lex Luthor, Ruler of Australia at December 23, 2010 10:15 AM (fLHQe)

51 there is nothing good about this.....it's f'n china...you know commie pinko reds....you know how many of their own people they have murdered?

Posted by: phoenixgirl at December 23, 2010 10:17 AM (eOXTH)

52 #45 Posted by: Taiwan's universal military service laws and the toys we got from America back when we were allies

Those things are nice and all, but high-tech toys and universal conscription laws for 20 some million people don't win wars - overwhelming firepower does. The Chinese have it, the Taiwanese don't. Any strategy for successfully staving-off a Chinese attack on Taiwan depends on the US Navy assisting Taiwian. If there aren't aircraft carriers in the Taiwan Strait to deal with the PLC's airforce and naval assets, it is pretty much game over for the Taiwanese. The only question remaining then is "when?".

Posted by: Kratos (Ghost of Sparta) at December 23, 2010 10:17 AM (9hSKh)

53 Would you invest in a failing company deep in debt with lay-abouts for employees?

My offer of $20 for Time magazine is still on the table.

Posted by: Follower of Cthulhu, former republican at December 23, 2010 10:17 AM (F/4zf)

54 #53 The upside to a world ruled by India, the Middle East and Australia: we get to drive the cabs like madmen and irritate people for hours on end on the Dell Support line. Downside- Yahoo Serious marathons.

Posted by: CAC at December 23, 2010 10:19 AM (lV4Fs)

55
I'm still waiting for millionaire George Clooney to 'save' and bailout Darfur.

Funny how Clooney stopped giving a shit about Darfur when it no longer served as an embarrassment to the Bush admin.

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 10:19 AM (uFokq)

56 56 Would you invest in a failing company deep in debt with lay-abouts for employees? My offer of $20 for Time magazine is still on the table. Posted by: Follower of Cthulhu, former republican at December 23, 2010 02:17 PM (F/4zf) You DO know that would make you responsible for their debts, right? That would be the most expensive $20 you ever spent, Bud!

Posted by: CoolCzech at December 23, 2010 10:21 AM (tJjm/)

57 This is about as good as licking paint off a toy made in China.

Posted by: RWC at December 23, 2010 10:22 AM (fWAjv)

58 Getting personally fire all those communist reporters: priceless.

Posted by: Follower of Cthulhu, former republican at December 23, 2010 10:24 AM (F/4zf)

59 China's doing bailouts? Anyone got the address?

Posted by: nevergiveup at December 23, 2010 10:26 AM (0GFWk)

60 We'll bail everyone . . . but not the Irish!

Posted by: China at December 23, 2010 10:26 AM (mM7dK)

61 On the other hand, once the Eurozone collapses, China can cut costs by stuffing Euros in any new Monopoly games they produce.

Posted by: Burn the Witch at December 23, 2010 10:27 AM (fLHQe)

62
You hear what that cocksucker Ben Affleck said?

I'll tell you right after this message from Cooter's, the Vagina Bath House chain.

Visit Cooter's today and get your cooter cleaned by a friendly and professional staff. Gift certificates available, too.

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 10:28 AM (uFokq)

63 54 there is nothing good about this.....it's f'n china...you know commie pinko reds....you know how many of their own people they have murdered?

I don't know. Um, like six?

Posted by: Chairman Mao at December 23, 2010 10:29 AM (mM7dK)

64 TANSTAAFL. Because somebody had to say it.

Posted by: joncelli© at December 23, 2010 10:30 AM (RD7QR)

65
Ben Affleck said it is wrong for CEO's to make a hundred-times more than their workers.

Affleck said it should only be around "nine times" as much.

hmmm, I wonder if Ben Affleck made only nine times as much as, oh, the make-up assistant in his last film?

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 10:30 AM (uFokq)

OT:

White Christmas?

_{...link to maggiesfarm for a great x-mas pic. you are welcome}

Posted by: garrett at December 23, 2010 10:31 AM (teqkw)

Ben Affleck said it is wrong for CEO's to make a hundred-times more than their workers.

He's that guy that works at 'Fashionable Male', right?

Posted by: garrett at December 23, 2010 10:32 AM (teqkw)

68 I wonder if it is wrong for Ben Affleck to make a thousand times more than a screenwriter?

Nah.

Posted by: SurferDoc at December 23, 2010 10:38 AM (o3bYL)

69 That Ben Affleck. He's just stuffed to the jowls with important fucking opinions.

Posted by: Cicero at December 23, 2010 10:39 AM (QKKT0)

_{...link to maggiesfarm for a great x-mas pic. you are welcome}_{Umm, some of us are at work. : /}

Posted by: laceyunderalls at December 23, 2010 10:41 AM (pLTLS)

71 74 That Ben Affleck. He's just stuffed to the jowls with important fucking opinions.

Posted by: Cicero at December 23, 2010 02:39 PM (QKKT0)

Posted by: kathysaysso channeling Australia at December 23, 2010 10:44 AM (ZtwUX)

72
btw, did you know we totally agree with Ben Affleck? It's troo. Read.
=================================

AFFLECK: The banks shouldnÂ’t Â— people shouldnÂ’t make such a giant profit off just moving money back and forth. And CEOsÂ’ pay shouldnÂ’t be 200 times the average worker. It used to be nine times.

Okay, maybe itÂ’s legal and maybe it passes muster with shareholders. But thereÂ’s something about us that fundamentally feels it isnÂ’t right. And I think thatÂ’s the frustration that you feel on people speaking out from the left. I think itÂ’s the same frustration you hear from Tea Party activists. And that tells you that itÂ’s common to the entire spectrum of American people. We have a deep sense that whatÂ’s happening is wrong and unethical and that we are in decline because weÂ’ve lost our moral compass.

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 10:45 AM (uFokq)

73 42 Llama, Lama, Llama, Llama, Llama, Llama, Llama...

Posted by: Dali Llama at December 23, 2010 02:07 PM (teqkw)

Be quiet and head out the back door... cant miss it.. its by the garbage.

oh and here is some cuff links from the Obama's.

Posted by: White house greeting staff at December 23, 2010 10:45 AM (ph9vn)

Posted by: garrett at December 23, 2010 02:31 PM (teqkw)

My rage towards you has reached the intensity of a thousand Suns. Why the hell didn't you give any decadence warning - even a NSFW warning would have sufficed!

Posted by: Kratos (Ghost of Sparta) at December 23, 2010 10:45 AM (9hSKh)

75 no matter which way this goes bad, it will not end well for all involved...

how is China investing in Europe any different from them building all those empty cities and buildings?

Posted by: redc1c4 at December 23, 2010 10:45 AM (d1FhN)

76
it feels it feels it feels

that's all these ignorant campus-creeps who graduated from Leftist U have -- feelings.

They want to base policy on their fucking feelings.

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 10:47 AM (uFokq)

77 Umm, some of us are at work. : /

that's what you get for not being funemployed....

Posted by: redc1c4 at December 23, 2010 10:47 AM (d1FhN)

78 I think this is a great idea. The fastest way China can go back to 3rd world status is to invest it's money in Europe. Why not just shove their money up a bull's ass?

Posted by: maddogg at December 23, 2010 10:47 AM (OlN4e)

79 83 I think this is a great idea. The fastest way China can go back to 3rd world status is to invest it's money in Europe. Why not just shove their money up a bull's ass?

Because there will be strings attached to this money. Strings that may yet benefit the Chicoms in some unforeseen (to us) way.

Posted by: Kratos (Ghost of Sparta) at December 23, 2010 10:49 AM (9hSKh)

80 Because there will be strings attached to this money. Strings that may yet benefit the Chicoms in some unforeseen (to us) way.

Posted by: Kratos (Ghost of Sparta) at December 23, 2010 02:49 PM (9hSKh)

The Chinese are clever, no doubt. But what could they possible want from Europe? There is nothing there the Chinese can't make for themselves. The main product of Europe is fucking industrial grade useless.

Posted by: maddogg at December 23, 2010 10:53 AM (OlN4e)

81 Think about it.

Would you invest in a failing company deep in debt with lay-abouts for employees?

Depends on the collateral. What a great way to pick up a continent on the cheap.

Posted by: Derak at December 23, 2010 10:53 AM (CjpKH)

82 There is little that is more conducive to good international relations than economic interdependence.

Posted by: steve walsh at December 23, 2010 10:54 AM (bzWBP)

83 Wonder if the chicoms would like to take over the defense of decrepit western Europe? I wouldn't mind being relieved of that expense.

Posted by: Louis Tully at December 23, 2010 10:55 AM (K/USr)

84 how is China investing in Europe any different from them building all those empty cities and buildings? Posted by: redc1c4 at December 23, 2010 02:45 PM (d1FhN) The former gets them a premium membership in Cheese of the Month Club.

Posted by: eman at December 23, 2010 10:55 AM (XXyJt)

85 I'd like to buy Western Europe so I could burn it down. Maybe the Chinese think likewise.

Posted by: maddogg at December 23, 2010 10:56 AM (OlN4e)

86 This continued propping up of unsustainable economic systems by anyone is not solving the problems. It's merely extending the due date for the reckonings. But I guess China's internal demand level is still not sufficient for it to let the chips fall where they should. Yet. Bailing out Europe is akin to bailing out California. A band-aid over a festering wound. Sure you no longer see the decay, but it is still happening.

Posted by: dougf at December 23, 2010 10:56 AM (zG9C9)

Nice! That's for all the 'boobies' links in the past year, young Ghost of Sparta.

I don't get what's nsfw there.

Posted by: garrett at December 23, 2010 10:57 AM (teqkw)

This is essentially a swap facility that the Chinese will use to exchange their US Treasuries for either hard assets, sovereign european obligations, or other things of value. It also has the side benefit of expanding the penetration of yuan denominated trading of assets around the globe. For those who do not read Jim Willie, you really should. he knew this was on the way (and how it would happen) months ago.

Posted by: mjhlaw at December 23, 2010 10:57 AM (YQ4mh)

89 Oh oh... The History Channel has just "discovered" fot the upteenth time that Jesus probably wasn't born on Dec. 25th, 1 B.C. Of COURSE not! It was 1 B.C.E., you Christianist Wingnuts!

Posted by: CoolCzech at December 23, 2010 10:58 AM (tJjm/)

You forgot their great inventory of muslims. That's a gold mine, there.

Think of the potential for the advancements in Mathmatics that they'll certainly achieve!

Posted by: garrett at December 23, 2010 10:58 AM (teqkw)

91 Because there will be strings attached to this money. Strings that may yet benefit the Chicoms in some unforeseen (to us) way.
Posted by: Kratos (Ghost of Sparta) at December 23, 2010 02:49 PM

Obviously, those eeeevil Chicoms know something we don't. We've pissed away money on "friends" around the world for many decades, and have gotten fuck-all back for it.

If Europe treats this new "bailout" from China the way they've treated our multiple billions, the Chinese have bought themselves a big load of disdain, snark and arrogance.

Fuck 'em. Let 'em learn the hard way, just like we haven't.

Posted by: MrScribbler© at December 23, 2010 10:59 AM (Ulu3i)

A communist country that wants to "bailout" the EU and that owns 3/4 of the world's natural resources, and agreed to bilateral trade with Russia in their own currency spells an expansion of economic hegemony - for the logic of such a move has nothing to do with balance in achieving world wide economic stasis. It is a move to establish Chinese dominance as an economic apex. A position which affords the golden corollary - dictating terms and conditions in international markets and more importantly, geopolitical policies.

Lets wake up here.

Posted by: journolist at December 23, 2010 10:59 AM (LwLqV)

Think of the potential for the advancements in Mathmatics that they'll certainly achieve!

Posted by: garrett at December 23, 2010 02:58 PM (teqkw)

Well, they sure as Hell have multiplication down.

Posted by: maddogg at December 23, 2010 11:00 AM (OlN4e)

94 This'll show that Marco Polo bastard.

Posted by: Kublai Khan at December 23, 2010 11:00 AM (cN5zf)

I don't get what's nsfw there.

Posted by: garrett at December 23, 2010 02:57 PM

You don't? Hell, I'd love to have your job, then!

_{I'd love to have any friggin' job}

Posted by: MrScribbler© at December 23, 2010 11:01 AM (Ulu3i)

Couldn't of happened to a better bunch of half-assed commies. I hope they are happy with their new bundle of pensioners, muzzies, miscreants and ne'er-do-wells. Is it time to start hedgeing investments in Chinese realty, money, commodoties etc??

Posted by: dananjcon at December 23, 2010 11:02 AM (pr+up)

O/T

Did you see where the commies at EPA will be taking over the issuance of air permits in Texas?

Say hello to $7.00 gasoline.

Posted by: Velvet Ambition at December 23, 2010 11:02 AM (CcqND)

98 Hey, can we get in on some of this action?

Posted by: Fannie Mae and Freddie Mac at December 23, 2010 11:02 AM (QKKT0)

99 A position which affords the golden corollary - dictating terms and conditions in international markets and more importantly, geopolitical policies.

Lets wake up here.

Posted by: journolist at December 23, 2010 02:59 PM (LwLqV)

Its more like finding out your Nigerian Money Transfer Deal didn't work out so hot. Not really on the road to world dominance.

Posted by: Oldcat at December 23, 2010 11:05 AM (z1N6a)

100 Isn't this technically the U.S. bailing out Europe? It's all our money anyway, the Chinese just launder it for us. Wal Mart laundered it for us. It's China's money. Remember all those consumer goods you bought? That's what you got for the exchange. Who are you, the federal government?

Posted by: fluffy at December 23, 2010 11:11 AM (4Kl5M)

101 Europe will go for it. They are such lazy pieces of shit.. they will sell out to anyone.

Posted by: Timbo at December 23, 2010 11:11 AM (ph9vn)

102

Go China go! This will pump up the froth...the markets will steam ahead and put off the next crash a couple years. In 22 months I can liquidate that Roth IRA and pay the house off. *fingers crossed*

$13 trillion of US debt is a Big Fucking Deal. Get unlevered people.

Posted by: torabora at December 23, 2010 11:12 AM (K+KYS)

103 air permits Christ, you need a license to breathe? [holds breath]

Posted by: joncelli© at December 23, 2010 11:12 AM (RD7QR)

104

Affleck doesn't understand jack shit and he's blaming banks for just being banks. If moving money around is not the main job of a bank, then what is? Affleck thinks, it seems, that banks serve no function and shouldn't exist.

Posted by: iknowtheleft at December 23, 2010 02:52 PM (G/MYk)

Ben Affleck was never better cast than at the clueless douche in Chasing Amy, which started out good but ran out of steam so fucking badly in the middle that Kevin Smith must've had a brain aneurysm or something because he's only produced unwatchable garbage like Dogma ever since; in addition to being an ugly fat fuck. Affleck definitely doesn't deserve the sweet cooter of Jennifer Garner; the clueless cocksucker should get down on his knees every fucking day and thank God he gets to bang that instead of Kathy Griffin or Garofugly which is what he deserves.

Posted by: Captain Hate at December 23, 2010 11:13 AM (kOMUP)

105 @70: Icey pooty?

Posted by: CoolCzech at December 23, 2010 11:13 AM (tJjm/)

106 Euro Round-eyes...I do not want to catch you trying to do sex to me!

Posted by: Chicom Overlords at December 23, 2010 11:14 AM (K+KYS)

107 Oh oh... The History Channel has just "discovered" fot the upteenth time that Jesus probably wasn't born on Dec. 25th, 1 B.C.

Of COURSE not! It was 1 B.C.E., you Christianist Wingnuts!

Posted by: CoolCzech at December 23, 2010 02:58 PM (tJjm/)

But if you stay tuned, you can get that dude with the Heat Miser hairstyle on your TV telling you how it had to be ancient aliens who built the pyramids because man was just too fucking stupid...or something.

(I didn't know anyone still watched the History in name only Channel anymore)

Posted by: Burn the Witch at December 23, 2010 11:17 AM (fLHQe)

108 More Extend and Pretend in action.

Posted by: navybrat at December 23, 2010 11:18 AM (zBUlJ)

109 Oldcat, you speak in riddles.

Posted by: journolist at December 23, 2010 11:22 AM (LwLqV)

110 California will be a Chinese Special Autonomous Region. Autonomous like Tibet.

Posted by: Cicero at December 23, 2010 01:53 PM (QKKT0)

They can have it. I'd like to see the way they'd treat those Cali lefty loons

Posted by: TheQuietMan at December 23, 2010 11:32 AM (1Jaio)

111 I think this is a good thing. Ugh. The ChiComs are buying Europe and you think this is a good thing. Ugh. I think Nope.

Posted by: Chicago Jedi at December 23, 2010 11:33 AM (6ftzF)

112
Alls I have to say is...

Beverly Hillbillies, season 7, Christmas in Hooterville

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 11:38 AM (uFokq)

113 32 If Hu didn't like Obama doing sex to him, wait until he gets bent over by the Greeks.

Posted by: JackStraw at December 23, 2010 02:02 PM (TMB3S)

I just figured that the Chinese thought european sex would be better. I mean look at Obama, it's got to be better across the pond.

Posted by: dagny at December 23, 2010 11:40 AM (DS1Ec)

114

Just remember folks . . . we built this city on rock n roll.

Posted by: journolist at December 23, 2010 11:41 AM (LwLqV)

115 Nope. Posted by: Chicago Jedi at December 23, 2010 03:33 PM (6ftzF) Okay, why not?

Posted by: joncelli© at December 23, 2010 11:41 AM (RD7QR)

116 The Chinese are only doing it to prevent the Europeans from firing up the printing presses. It won't work, but at least they'll get some return on their soon to be worthless euros.

Posted by: Randy Jackson at December 23, 2010 11:42 AM (V6CZ8)

117 Yeah, the Chinese being the only superpower makes me a little, um, skittish.

Posted by: dagny at December 23, 2010 11:42 AM (DS1Ec)

118 121 Just remember folks . . . we built this city on rock n roll. Posted by: journolist at December 23, 2010 03:41 PM (LwLqV) Certainly didn't build it on work ethic and farsightedness.

Posted by: joncelli© at December 23, 2010 11:43 AM (RD7QR)

119 124 Yeah, the Chinese being the only superpower makes me a little, um, skittish. Posted by: dagny at December 23, 2010 03:42 PM (DS1Ec) So how do you think WE feel about it!!???

Posted by: Aussies, Kiwis, Taiwanese, etc. at December 23, 2010 11:44 AM (RD7QR)

120 Did eurotrash clear the buyout by their Chinese overlords with their Islamofascist overlords?

Posted by: FlaviusJulius at December 23, 2010 11:44 AM (SJ6/3)

121
KOJAK had a good Christmas episode.

It was about hookers getting attacked and shit.

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 11:45 AM (uFokq)

122 I'm not sure what the problem is here. The Chinese want to buy shitty Euro bonds from shitty Euro economies - big deal. Now, the average Xiao-six pack living on $3700/year has a beef. Here's a guy that works his ass off hoping someday to be able to afford a new inner tube for his rusty bicycle only to see his government stuffing money into the pockets of some greasy assistant gyro technician that is due to retire at 50. I'm pissed if I'm that guy.

Posted by: Ted Kennedy's Gristle Encased Head at December 23, 2010 11:47 AM (+lsX1)

123 COMMUNISTS !! they must all be destroyed

Posted by: drizzler's battlefield buddy at December 23, 2010 11:50 AM (0YS61)

124 So how do I get to be an assistant gyro technician and can I eat the stock in trade?

Posted by: joncelli© at December 23, 2010 11:51 AM (RD7QR)

125
STFU, dunce

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 11:52 AM (uFokq)

126 Does China want to take over NATO also?

Posted by: nevergiveup at December 23, 2010 11:55 AM (0GFWk)

127
okay, I know what you're all thinking.

Did the Dukes of Hazzard have a Christmas episode?

Of course they did. Just one, though, in season 3 (1980). Directed by Uncle Jesse...really, no shit.

_{^{In The Series' Only Christmas-themed episode, Boss who is in an Ebenezer
Scrooge like mood throughout this episode, hires a trio of criminals to
hijack the Dukes' Christmas tree shipment, then pin the blame on the
Dukes, The scheme involves two of the bad guys stealing the trees from
Bo and Luke at gunpoint, then the third associate disguised as a
clergyman giving the Duke boys a lift into town, and then telling them
they forgot "their" $500 down payment on the trees, While Uncle Jesse
and Daisy set out to clear their family's name, the criminals plot to
double-cross Boss by taking more than their payment due on the trees,
breaking into the safe while each one is dressed as Santa Clauses
Meanwhile, Bo and Luke - with some help from Cooter - decide to take
back the trees and have a little fun confusing Rosco and Cletus while
delivering the trees (dressed as Santa Clauses, In the end, the episode
takes a turn toward forgiveness and fellowship as the Dukes and Cooter
invite Rosco and Cletus to their Christmas Eve gathering, Boss comes in
later, reformed after having read Charles Dickens' "A Christmas Carol."}}

Posted by: Soothsayer Sees the Future, and it is bleak at December 23, 2010 11:55 AM (uFokq)

128 ~~Mistah Kurtz~~ This thread, he dead.

Posted by: joncelli© at December 23, 2010 12:01 PM (RD7QR)

129 California will be a Chinese Special Autonomous Region. Autonomous like Tibet.

Posted by: Cicero at December 23, 2010 01:53 PM (QKKT0)

Like anyone would notice.

Posted by: stuiec at December 23, 2010 12:01 PM (Di3Im)

130

Let's all just keep borrowing from each other until this problem is solved!

I know it can work; I just know it!

Posted by: Warden at December 23, 2010 12:02 PM (HzhBE)

131

Mandarin and English as a second language are the two language options at my kid's school here in California.

It is assumed that Spanish is understood by all.

Posted by: Who Knows at December 23, 2010 12:02 PM (QLiYt)

132 This thread, he dead. Posted by: joncelliÂ© at December 23, 2010 04:01 PM (RD7QR) Well eat a chinese and your horny a hour later

Posted by: nevergiveup at December 23, 2010 12:02 PM (0GFWk)

133

It means China's investing in stability and certainty, and aligns its interest more with our own (and against Iran and North Korea). When you invest in the established order you're more hostile to troublemaking threats to the return on your investment.

The problem is that the Chinese see any interference with the status quo in Iran and North Korea as troublemaking threats. They like being able to buy Iranian oil and they like how North Korea pins down so much of the strategic attention of the US and its allies in the region. They're likely to want Europe to stop pushing for any sanctions that would cripple Iran's oil industry or interfere with North Korea's lively business of exporting anti-Western chaos (in the form of missile and nuclear technology) around the world.

Posted by: stuiec at December 23, 2010 12:06 PM (Di3Im)

134 Well eat a chinese and yourshe's horny a hour later

Posted by: nevergiveup at December 23, 2010 04:02 PM (0GFWk)

FIFY.

Posted by: stuiec at December 23, 2010 12:07 PM (Di3Im)

135 A house of cards being propped up by another house of cards? Oh yeah, this will end well.

China's only hope when things start totally collapsing is going to be war.

Posted by: Christopher Taylor at December 23, 2010 12:07 PM (61b7k)

136 You know, I just can't work up the enthusiasm to care.

I like Chinese food so it's all good to me.

Posted by: mpfs, still traumatized at December 23, 2010 12:07 PM (iYbLN)

137 Soooo, China can sell stuff to the EZ now: and with their slave labor and nonexistant environmental laws it's all cheap stuff... sweet!!

Posted by: The Great Satan's Ghost at December 23, 2010 12:08 PM (7f18s)

138

I absolutely love how the issue of GDP was used to establish that the U.S. still leads in market dominiance since GDP on a per person basis places the U.S. over China. Um, isn't China's population 5X that of the U.S.? And don't they admittedly have a lower standard of living? And um, isn't the U.S. a debtor nation and China a creditor nation?

Comparing China's GDP with that of the U.S. is like saying the neighbor who lives in a fancy house with a fancy new cadillac is better positioned than the person who lives in a small house that's paid for that drives a paid for pick-up that has money in the bank.

The U.S. is tooling around in the caddy and parks it in a garage attached to a house that has been completely financed by the guy who drives the old pick-up. A guy named Wen who's ready to make a deal with Europe, hmm, that must be good right?

Posted by: journolist at December 23, 2010 12:08 PM (LwLqV)

139 So China wants to own all of this fiat paper at a time when people are buying gold and getting out of government debt - why?

Posted by: Jean at December 23, 2010 12:14 PM (lnUW/)

140 Payday loans from your friendly organized crime loan sharks. China will be happy to feed your addiction.

Posted by: Skandia Recluse at December 23, 2010 12:26 PM (41MJ2)

141 If there aren't aircraft carriers in the Taiwan Strait to deal with the PLC's airforce and naval assets, it is pretty much game over for the Taiwanese. The only question remaining then is "when?".

Pentagon planners have admitted publicly China is capable of taking Taiwan even if the US intervenes on Taiwan's behalf. If I remember the wording correctly it started something like "If the Chinese are willing to pay the diplomatic and economic price...". The price is, I think, all that's dissuading them.

Posted by: Ace's liver at December 23, 2010 12:26 PM (QgI7g)

142 If there aren't aircraft carriers in the Taiwan Strait to deal with the PLC's airforce and naval assets, it is pretty much game over for the Taiwanese. The only question remaining then is "when?". --- bullshit, show me where the Chicoms have enough airlift and aerial refueling assets to move and support even a mechanized brigade -- the ChiComs can threaten Taiwan with missiles only -- look at what Taiwan wants to buy to see the real threat.

Posted by: Jean at December 23, 2010 12:32 PM (judfL)

143 I think this is a good thing. It means China's investing in stability and certainty, and aligns its interest more with our own (and against Iran and North Korea). When you invest in the established order you're more hostile to troublemaking threats to the return on your investment. ........... Perhaps I am being naive about this, but: You're broke and can afford your house. Being a nice guy, I bail you out by buying your house and lending you the money to pay off your creditors. So, your argument is that I will now accept your ways of doing things in order to protect my investment (Europe keeps acting all " European" , with their inflated entitlements and 6 months of vacation. Per year)? If this bailout where my investment, it would come with the condition that things run according to my designs until the debt is paid (you now work for the Peoples Republic of China. All your berets, croissants, and other resources are belonging to us. The money we lent you, plus interest, is ours to spend as we like... Including support to Iran and North Korea. What? You don't like how I spend my money? Fine. I am foreclosing on you & kicking your broke ass to the curb. Now I will give all your stuff and all your money to Iran and North Korea while you sit on the street with you tin cup, begging for help from somewhere else in order to buy a croissant from me at inflated prices... that is until I get tired of watching you beg and kill you)

Posted by: Damiano at December 23, 2010 12:33 PM (3nrx7)

144 Posted by: joncelliÂ© at December 23, 2010 03:41 PM (RD7QR) Because clearly some people were too busy hoping life would become an episode of Firefly where America and China blend to realize an evil communist empire swallowing up Europe is a bad thing. Now I'm not saying Ace has a space cowboy fetish, but...

Posted by: Chicago Jedi at December 23, 2010 12:33 PM (6ftzF)

145 Damiano, you can foreclose - but where is the sheriff to evict us. If China stops buying the bonds, the value will collapse. That is bad for us, worse for them.

Posted by: Jean at December 23, 2010 12:37 PM (aemFw)

146 The "bailout" is conditional on lifting an arms embargo against China. Lifting that embargo means us facing Taliban with better weapons.

Posted by: crosspatch at December 23, 2010 12:47 PM (ZbLJZ)

147 Gee, I wonder what those 200 million men that don't have wives thanks to China's one-child-abort-the-girls policy are going to be doing?

Posted by: navybrat at December 23, 2010 12:51 PM (zBUlJ)

148 I'm with you Jean, but who's to say that China cares? Worst case scenario: global economic collapse and all currency is worthless. All that is left is who owns the most stuff. Answer: China, who has spent the past several decades buying up all the oil fields, gas resources, etc. that it could get it's hands on at bargain basement foreclosure prices. In addition, they have always had a slave workforce (staffed by the worlds highest population). They own the majority of the Asian and European land mass. Sure, they will trade you a cup of oil for a year's worth of corn or whatever... Meanwhile, we have regulated all energy production into near non- existence and put our money on the Chevy Volt as the solution to our economic woes... by financing it with Chinese money. Again, I may be being naive about this, but as all have stated- there is nothing in this for China from any other perspective. I am starting to think that they are intentionally financing our stupidity and, ultimately, our economic collapse now that they own a big chunk of available resources and labor.

Posted by: Damiano at December 23, 2010 12:54 PM (3nrx7)

149 Damiano,

All that foreign property China "owns" will be worthless in the event of a collapse unless they have the military capability to go all over the world defending and collecting on it.

If there's a global economic collapse every single sovereign country will hanging on to their domestic resources as bargaining chips. Any contractual obligations of ownership to foreigners on land and resource rights are going to get voided so fast it isn't funny.

Posted by: Blue Falcon in Boston at December 23, 2010 01:29 PM (ijjAe)

150 Hey! I'm here for da money!

I heard there be bailout money today.. Where's my money? I'm here for da money!

Got my 'Bama money.. now I wants some Chinese money!

Posted by: Former "Obama Money" recipient at December 23, 2010 01:29 PM (Do528)

151 Isn't this just another way to keep their currency down by sterilizing their export surplus buying European bonds?

Posted by: sexypig at December 23, 2010 02:54 PM (UmEOs)

152 bullshit, show me where the Chicoms have enough airlift and aerial refueling assets to move and support even a mechanized brigade -- the ChiComs can threaten Taiwan with missiles only -- look at what Taiwan wants to buy to see the real threat.

Not true. The plan is to use the missiles and GPS bombs to take out Taiwanese airfields, use subs, aircraft, and ballistic missiles to keep US ships out of the straight, and then do a reverse-Dunkirk using every spare leaky junk to move troops over to the island once a beachhead has been established (for which purpose they bought a half-dozen hulking Russian Zubr hovercraft). The Zubr is twice the size of a US LCAC, it's armed, armored, fast, and has enough range to make it to Taiwan from China.

They absolutely have the sealift capability if we can't deny them the straight.

Pentagon planners figure it'll take us about two weeks to get much in the way of land assets to the island, so if the Chicoms can take it in that time frame there's nothing we can do. They can do it, again, if they're willing to pay the price.

Posted by: Ace's liver at December 23, 2010 02:55 PM (XIXhw)

153 "I'm not sure what the problem is here. The Chinese want to buy shitty Euro bonds from shitty Euro economies - big deal. Now, the average Xiao-six pack living on $3700/year has a beef. Here's a guy that works his ass off hoping someday to be able to afford a new inner tube for his rusty bicycle only to see his government stuffing money into the pockets of some greasy assistant gyro technician that is due to retire at 50. I'm pissed if I'm that guy." Exactly. Wait until some government defaults on China. Then we see riots. That won't happen until they stop lending though...then it will happen fast. I predict specific anti-China defaults as well.

Posted by: sexypig at December 23, 2010 02:58 PM (UmEOs)

154 China has no choice but to invest overseas. You can't buy anything in China with the dollar - only on the black market - they must use the yuan. However, this reminds me of a similar tale called Japan, when they invested all their excess dollars back in the U.S. in real estate, which subsequently collapsed. Like everything else, China will make its mistakes via the investment road. China's major cities are in a real estate bubble that is huge compared to Japans bubble in the '80s. They have entire cities built but not occupied. Most of their people are still in abject poverty and can't afford the rent of a typical urban apartment. Rural per capita income is 2,732 yuan ($411) vs Urban per capita income of 5,979 yuan($899). Typical rent in a Beijing 60 sq. meter apartment is $700 - $800 per month. When the collapse happens, it will be an interesting social outcome - like riots, strikes, etc. Their army is not big enough to contain the problems that will come about because of this real estate bubble.

Posted by: HSTAD at December 23, 2010 04:07 PM (e0+7F)

155 "And I thought the Japanese buying up California in the 1980s was a bad investment.
Posted by: Oldcat"

Hey, we're flexible. Pearl Harbor didn't work out so we got you with tape decks.

Posted by: Joe Takagi at December 23, 2010 04:24 PM (rXQWW)

156 Ace's Liver, The problem is the Taiwanese army is huge. They could easily push the Chinese off any beachheads. IF they actually fought. They might just roll over. Here's a funny story...The US had not sent any military staff to Taiwan for many years, and as they were leaving one of the officers said "We came expecting Israel but found Panama." Taiwan actually has diplomatic relations with Panama so it was really brutal.

Posted by: sexypig at December 23, 2010 07:31 PM (UmEOs)

157

Asics gel

Asics tiger

Posted by: asics shoes at December 23, 2010 10:02 PM (Uw8og)

158

The European sphere of influence will be shrinking dramatically soon. China will be demanding serious quid pro quos (not stated publicly of course) - which will undoubtedly be no challenges to their moving economically (and militarily) into Africa in a big way.

The era of European post-colonial African influence is finished, over, kaput, fini.

Posted by: Purple Avenger at December 24, 2010 11:55 PM (/TV5A)

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