Where Are The Chinese In This Bailout?

China has told its banks not to halt lending to US banks. You loaned us all the money to get in this problem, where's the love? You indulged America's nasty credit habit, we need another fix, man. But for real for real, interesting article at FireDogLake about how we borrowed the money, started a war and gave tax breaks to the rich and now we have the bill. But the rest of the world is not chipping in. Can you blame them?

Some nuggets:

So, long story short, the rest of the world doesn't feel much if any sympathy for the US about all this. You borrowed the money, you promised to pay it back, and now it looks like the stuff you gave everyone in exchange for all that money is mostly garbage, worth cents on the dollar. Your IOUs, in other words, are no good. Everyone knows they're getting stiffed, they're just trying to figure out how much they're getting stiffed for. Even if you're holding greenbacks, everyone knows that the currency is going to crash even further and also get eaten up by inflation.

And why the bailout is flawed:

Plus, of course, outsiders are noticing that the "bailout" bill is really just a huge transfer from taxpayers to the rich, and that even your own economists are saying it won't actually fix the problem. So why should they pour more money down the drain when it won't do any good?

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