China, Your Bill is Paid

Corona Virus:

https://nationalinterest.org/blog/s...s-americas-economy-could-become-victim-131492

Existing debt

https://www.thebalance.com/u-s-debt-to-china-how-much-does-it-own-3306355

It looks to me like we don't owe China a dime.

 

Ya! know, if the United States is $1 Trillion in Debt to China, YES! I believe, because of China's negligence or deliberate refusal to tell the rest of the World how contagious the Human to Human infection was, while they themselves were hoarding medical supplies getting ready for the outbreak in their Country, that Debt is the beginning of Debt paid, but not completely.
When this Pandemic is done, China is going to have a lot of explaining to do to the United States and the rest of the World and I wouldn't be surprised if many Nations refuse to do business with them again for a long! time. The Chinese are not dumb, they absolutely knew how CONTAGIOUS Coronavirus was between people, but purposely said it wasn't and the WHO, which is also NOT! Stupid went along with it. so I believe everyone associated with the WHO needs to be held accountable. There has to be repercussions for this, because if the World goes back to business as usual with China, were doomed to repeat this nightmare again.
Millions of people around the World are suffering by the deaths of loved ones and economically by Jobs lost and until a Vaccine is created, it's going to take time for life to get back to something that looks similar to normal.

 

South Korea has 10,000 cases of Corvin and less than 200 deaths. Singapore and Taipei are about the same proportionally. It isn't China's fault that we are being run by a god-cursed fracking idiot and his ass-licking cult.

Should we repudiate our debt I doubt that ANY nation would ever trade with us again, and most nations including China would certainly stop using the dollar as their reserve currency. Then our own National Debt would become actually due and payable, and you would very soon need several million "dollars" to get a loaf of bread.

 

They [China] have known that wet markets are a major source of disease for years. And they have not shut them down.

The world uses the dollar because they have no choice. And without our markets, China is toast.

 

It's easy to put a price tag on human life and make it a financial transaction, tit for tat.

 

-The true objective measure of a country's success in the fight against the Coronavirus is clearly deaths per million residents. On that measure, the United States is still very near the bottom of that list and even with current projections, we still perform pretty well comparatively. South Korea has indeed done very well, but lets be honest, its not as if South Korea is a country that you would consider to be much like the United States in terms of population, international travel, trade etc. The obvious comparator would be Europe in the collective, and on that measure the United States is doing extremely well. That doesnt fit in with your orange man bad narrative however, so you and others are going to act as if population size means nothing. It is disingenuous, and looking at approval ratings, it is clear that the general public does not share that nonsensical interpretation.

-I would agree that defaulting on that debt ( even in this situation) would be a bad move because of the signal it would send to other future T Bill purchasers. It would ultimately greatly affect the rate that we would have to pay on our bonds.

- The notion that other national debt would become due and payable however is nonsense. Bondholders have no right whatsoever to make their bonds due and payable. That is a figment of your imagination, as is the several million dollar loaf of bread that you mention.

 

I'm not talking about defaulting. I'm talking about liability. If I sue my bank and win, and the debt is declared to be paid, it isn't defaulting on the loan. We have the ability to impose a penalty. Take them to the World Court. Their negligence in not closing wet markets has resulted in at least two recent global pandemics.

 

I understand what you are saying, and in principle I fully agree with the sentiment. Declaring that debt paid in full would be justified on a lot of levels. I do however believe that such a declaration would create more problems than it solved. The rules of the game would forever be changed and that would greatly affect interest rates that we had to pay on T Bills going forward into eternity.

 

I wasn't talking about the Bonds but about our loss of Economic Sovereignty which our dollar being the planet's default reserve currency gives us over the whole world and which allows us to hold such a huge debt without it being ruinously inflationary

 

Our Federal Govt does it as a matter of course in nearly all legislation. 'Just one life' is a political theatre trick. Nearly everything is an effort to reach a balance between productivity, efficiency and mortality, understanding that everything is tied to increasing or decreasing the rate of untimely death.

Its no more beneficial to save all the resources while killing everyone than it is to spend all the resources saving everyone. The goal is usually to find the balance with the least diminishing returns of both.

At least, this how it worked prior to coronavirus...

 

There is nothing that could be called "due and payable". That is the primary point with which I disagree. I do fully agree it would probably be a very bad long term move.

 

Rotsa Ruck in proving that. We're not even that sure Corvin came from China at all, just that it was first noticed there. Also, I'm not sure the Hague even handles torts.

 

Agreed. Sorry to be unclear.

 

Every once in awhile a box of cereal coming out of Battle Creek is going to have some rat turds or rat poison in it. But the amount is small enough you won't get very sick.

The rat stuff could be taken down to a guaranteed zero, but we couldn't afford that product.