China Banks Told to Halt Lending to US Banks-SCMP

[OKDem08]

The source article is Reuters. This is getting frightening. I know little about macroeconomics but I do know we are about ten trillion dollars in debt therefore the infusion of capital on a consistent basis is critical to our economy. My husband and I actually had a discussion tonight about whether we should withdraw some money out of our bank tomorrow (just in case). Does anybody else feel this way?

[sandnsea]

1. I took out a few hundred

Just to get me by for a few days if there's a problem. I don't have much in the bank to lose. I don't think we're in danger of losing our money until investment banks spend all the money in the commercial banks that they're buying.

[magellan]

2. China denies shunning foreign banks

http://www.reuters.com/article/ousiv/idUSTRE48O2PZ20080925

They were for it before they were against it.

[JDPriestly]

3. Does that mean we have to get out of Iraq immediately?

Does that mean we can't afford to stay? Does that mean we can't buy the oil to fuel our planes and fleet?

[nadinbrzezinski]

4. I raised that with congress

we will need to cut down international commitments

Seriously cut them in fact

[OKDem08]

5. Good point

I will call and raise that issue tomorrow. The humanitarian angle never works w/my Republican representatives but perhaps an economic justication will.