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Colin's Last Stand, Episode 54: America's $1 Trillion Debt to China (Patreon)

Published:
2017-11-06 19:17:24
Edited:
2018-03-17 05:25:28
Imported:
2022-01

Content

Manipulating the economy.

Files

America's $1 Trillion Debt to China -- Colin's Last Stand (Episode 54)

When it comes to economics, the United States and China need each other. Badly. The US requires liquid cash and cheap goods; China seeks to devalue its currency in pursuit of high economic growth in order to placate its export-heavy industries. But there’s one component of this relationship that gets the most attention: China’s massive monetary loans to the US. Colin's Last Stand is free of baked-in ads, product placement, and other obnoxious forms of advertising because of your support. Please consider subscribing to CLS' Patreon to show your support for independent historical and political content: http://www.patreon.com/colinslaststand Buy Colin's Last Stand merch, all made in the USA! http://www.declarationclothing.com Twitter: @notaxation Instagram: @clsmoriarty Facebook: /colinslaststand Reddit: /r/ColinsLastStand Colin's Last Stand is a product of Colin's Last Stand, LLC PO Box 1233 | Santa Monica, CA 90406 Still imagery come via a licensed Shutterstock account from the following contributors: Avigator Thailand, BoxerX, Gang Liu, gorZD, larry1235, Mega Pixel, Mopic, Nerthuz, NothingIsEverything, Roman Sigaev, sagir, Sittirak Jadlit, Suzanne Tucker, William Potter, and Zwiebackesser. Additional imagery comes from Fandom and History.com Bibliography/Reading List: http://politicalticker.blogs.cnn.com/2010/02/03/cnn-fact-check-the-last-president-to-balance-the-budget/ https://www.thebalance.com/the-u-s-debt-and-how-it-got-so-big-3305778 http://time.com/4293549/james-grant-united-states-debt/ https://www.youtube.com/watch?v=OYF_guqpOzE http://billmoyers.com/story/chinese-debt-explained/ http://money.cnn.com/2017/08/16/investing/china-us-debt-treasuries/index.html http://money.cnn.com/2016/12/16/investing/china-japan-us-debt-treasuries/index.html https://www.thoughtco.com/how-much-debt-does-china-own-3321769 https://www.thebalance.com/u-s-debt-to-china-how-much-does-it-own-3306355 https://chinapower.csis.org/us-debt/ https://www.cbsnews.com/news/national-debt-hits-historic-20-trillion-mark/ http://databank.worldbank.org/data/download/GDP.pdf https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762 http://politicalticker.blogs.cnn.com/2010/02/03/cnn-fact-check-the-last-president-to-balance-the-budget/ https://www.cnsnews.com/news/article/terence-p-jeffrey/fed-owns-64-more-us-government-debt-china https://mic.com/articles/7356/china-s-economy-dances-between-communism-and-capitalism https://tradingeconomics.com/china/gdp-growth-annual https://www.huffingtonpost.com/david-bergstein/fffects-of-chinas-clever-_b_9964100.html https://tradingeconomics.com/china/exports https://www.census.gov/foreign-trade/balance/c5700.html

Comments

Prince Borutski

Really excited to dive into this one! What a facinating topic 👍

Joey Finelli

Colin, what is your view on these tax cuts? good or bad idea?

Spytle

"Delicate Dance" is an apt description. It's mind boggling to actually think about how we get out of this dynamic. It seems to me, and I am not educated on this at all, that if we were to go into an austerity mode as a nation, both in government and personal spending, then we might work our way out of this dependency as cleanly as possible. If we spend less on frivolous goods (and honestly, who wants ot do that!?) we have more in our pocket to run our lives. If the federal government can then spend less, and we bear the cost ourselves on a local and state level, maybe we can work our way out from under this. This is not a rant on entitlements, because some of those are needed, but rather contemplating the point made in the video that we borrow so we can consume product (transitively through paying for other things we already get and don't need ot spend money on).

Spytle

I'm not sure I made an intelligent point there, but whatever. ;P

Peter Campbell

Terrific video. I'm sure some of the research was exhausting in trying to figure it out but it was very interesting in how the country is borrowing for its future for its present.

Peter Campbell
>>8166408

Austerity the way Britain is doing it is not a good idea. You don't want to kill innovation or consumer confidence, which the right-wing in Britain has been guilty of, in creating depression and foodbanks in areas outside its voter spots, which limits the country. Austerity ironically feels like a communist-type situation but done by the right wing government. If you are gonna cut it needs balance to encourage the economy as a whole.

Spytle
>>8166408

I understand. My comment is kind of lazy and rambling. I was struck by the loop he described. To me, one thing that fuels it is our consumption of cheaper goods. My use of austerity was targeting that - not that we should impose austerity from the top down, but from the bottom up. In the video, it feels like the whole thing is initiated from the bottom up (us) in our economy. To me, this leads to a line of thinking regarding our own needs - we over spend and purchase a lot in this country (arguably anecdotal) and perhaps the loop can begin to shift at that point. I don’t think we should do it top down, but that end eventually gets hit by the ripples. Innovation is important and we do need something driving innovation and growth.

Spytle
>>8166408

I am sorry for the wall of text, but mobile is a pain for trying to start a new paragraph. What am I missing, iPhone!?!?

BettyAnn Moriarty

Wow, bud! This is some complicated stuff. Thank for taking the time to sift through what I'm sure was tons of information to shed some (much needed) light on the topic. 👍🏻❤️

LastStandMedia
>>8165444

Thanks! But thank the audience at the $2+/month level more. They're the ones that voted for this bad boy.

LastStandMedia
>>8166408

We have a consumerist, money-spending mindset. If we don't shake it, we will ultimately lose!

LastStandMedia
>>8169578

Thanks! All it took was some reading and pondering. Then again, I didn't get too deep!

Anonymous

Colin thank you so much for making this video on my topic. And thank you all who voted at the $2 and up level!

Austin Killian

That was a fantastic show Colin! My wife gets so tired of hearing me talk about “what Colin Moriarty is talking about today.” But tonight, she actually stopped reading her book and started commenting on the video and agreeing with some points of yours. Definitely a success!

Josh Squires

I've tried researching this topic in the past, but it's so big it was tough to find a good starting point. Thanks for this solid introduction in.

Robby Deadman

Thanks for all the vids Colin! Just put my name and $2 in The Ballot Box. Keep up the great work!

Travis farmer

Thanks Colin...great vid and very informative.