Wednesday, June 17, 2009

But who will pay the bills?

Uh oh ...
According to US Treasury data issued Monday, Beijing owned 763.5 billion dollars in US securities in April, down from 767.9 billion dollars in March.

It was the first month since June 2008 that Beijing failed to purchase more US T-bills.

It's a good thing the government can just make more money out of thin air. What could be the harm in that?

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