John Kerry took Obama's place at the Asian-Pacific Economic Summit today, presumably so Obama could stay home and shoo veterans away from their memorials.
Kerry's primary mission is to reassure the Chinese and Japanese that the US fully intends to honor it's enormous debt to these two countries as the debt ceiling will have been reached by next Thursday the 17th. The US can either raise the debt ceiling or print some more money, devaluing what we have already. Neither is a good option for our creditors as the value of the bonds they hold will drop as well.
China holds trillions of dollars in US debt. If you were China and you wanted face-to-face reassurances of US credit-worthiness, would what looks like an aging lesbian dancing around in that shirt really be all that reassuring?
LOL and right I on.
ReplyDelete