By Joe Conason

Exclusive: John Kerry Says "Chinese Are Laughing All The Way To The Bank" Over Prospect Of U.S. Credit Downgrade

July 28, 2011 7:19 pm Category: Memo Pad Leave a comment A+ / A-

The global impact of the American debt crisis – and the likelihood of permanent damage to American interests – are already visible to Senator John Kerry (D-MA) from his perch as chairman of the Senate Foreign Relations Committee. Indeed he is not only seeing but hearing those effects.

“The Chinese are laughing all the way to the bank,” said the former Democratic presidential nominee, because a downgrading of US Treasury securities will mean enormous and completely unnecessary increases in our interest payments to the nation’s largest creditor – and our most important competitor in the international arena.

Pages →  1 2 3 4 5

Exclusive: John Kerry Says "Chinese Are Laughing All The Way To The Bank" Over Prospect Of U.S. Credit Downgrade Reviewed by on . The global impact of the American debt crisis – and the likelihood of permanent damage to American interests – are already visible to Senator John Kerry (D-MA) The global impact of the American debt crisis – and the likelihood of permanent damage to American interests – are already visible to Senator John Kerry (D-MA) Rating:

More by Joe Conason

Border Crisis Tests Religious Faith — And Some Fail Badly

Flamboyant piety has long been fashionable on the political right, where activists, commentators, and elected officials never hesitate to hector us about their great moral and theological rectitude. Wielding the Scriptures like a weapon, these righteous ’wingers are always eager to condemn the alleged sins of others but reluctant to examine their own. They seem

Read more...

Borderline Behavior: GOP Demands Action, Blocks Solutions — And Always Complains

Listening to Republicans in Washington (and Texas and Arizona) scream about the “crisis” of migrant children arriving from Central America on our southern border, it is puzzling to realize that they don’t actually want to do anything to solve the problem. Nor do these hysterical politicians – led by that down-home diva Rick Perry, the

Read more...

On July 4, A Message For Patriots Of All Persuasions

When the flags fly proudly on the Fourth of July, I always remember what my late father taught me about love of country. He was a deeply patriotic man, much as he despised the scoundrels and pretenders he liked to mock as “jelly-bellied flag flappers.”  It is a phrase from a Rudyard Kipling story that

Read more...

Tags

Comments

scroll to top