Here's all you need to know about us and China right now -- we're desperate to come up with ways to save cash and they're desperate to find ways to spend cash.
We, of course, have no money. China, apparently, has lots of money. So much money that it's one step away from taking a Gulfstream over Europe and just dumping cash out the window.
That's what's nice about having $3.5 trillion in cash reserves. You're not exactly reserved letting the world know it.
Because China's now seizing on it. This week hinting it might buy some Italian industries -- because God knows those guys could use the cash. Maybe even buy some Caribbean debt -- because God knows a lot of those guys could use the cash. All while continuing to buy our debt in this country -- because God knows we certainly don't need them pulling back the cash.
It's weird and more than a little humiliating. Especially when the markets earlier this week jumped on news Beijing might come to Rome's rescue. And today, doing so again on news China's in a mind to do some more European shopping.
Capitalism calming because a communist powerhouse is helping.
Like I said, weird. And don't you think China doesn't know it's weird and for them, fortuitous. Because nothing buys influence like a thick wallet and desperate and broke countries with increasingly thin resolve.
And who'd complain about an ambitious giant if they're in hock to the giant?
They need the giant. And it's pretty clear these days they don't need us.
That's what happens when you're a beggar. You really can't be much of a chooser.