Eamonn Fingleton
Forbes
Sept. 29, 2013
In their never-say-die efforts to defeat Obamacare, Tea Party Republicans
brought the federal government a giant step closer to shutdown last night. What
they seem not to have considered is how America’s foreign creditors will
react.
Although China, Japan, and other major creditor nations have no dog in the
Obamacare fight, they have a strong interest in preserving America’s basic
financial, economic, and social stability. From their point of view, the Tea
Party contingent is not following the script and a corrective may prove
necessary.
If the creditor nations were to sell just a small proportion of their
American assets, they could send Wall Street into a tailspin, with unpleasant
implications for many Republicans.
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Sunday, September 29, 2013
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