Trends and Entertainment

The US and China–Who’s Screwing Who? (Video)

Aren’t treasury bills hilarious? And what about that national debt? Bwahahaha..

Well, Saturday Night Live hasn’t been this funny in years, as it sends up Washington’s attempt to ignore the fact that China kind of owns us, in an increasingly frenzied “press conference”  with “Obama” and the “president of China.”

Just like consumers spend beyond their means by borrowing money from credit card companies, when the country spends, we borrow from other people—including countries like China, which has about $800 billion of its reserves in US treasuries, making it our largest debtholder. Nervous about all the U.S. I.O.U.s China holds? Perhaps scarier is the idea that China is diversifying into other investments, because U.S. assets, are not stable enough. (Video: “You know, as I listen to you, I am noticing that each of your plans to save money involves spending even more money. This does not inspire confidence.”) Ugh.

I’m assuming this is safe for work, since it was shown to me at work, but it’s not suitable for kids, since the Chinese “premier” uses sexual innuendo bends over to take it from Obama.

Tags: economy, humor, politics, video