HousingPANIC has a Special Message for our new landlord and owner, Communist China

China, sitting $414 billion in US treasuries (that won't get paid back) and over $100 billion in US mortgage backed securities (that won't get paid back), and over $1 trillion total in US dollars (that are becoming toilet paper), plus a recent big investor in Blackstone's hilariously failed IPO (man, that's gotta hurt), has gotta be getting PISSED OFF lately. Welcome to American capitalism comrades, where you can get suckered by con-men and lose it all!

Seriously, could the royal screwing of these corrupt communist jackasses, who helped ruin America with their evil cozy partner Wal-Mart, be any more perfect?

A Special HousingPANIC message to the corrupt leaders of Communist China:

Thank you for selling us all that cheap crap these past few years and enabling our housing bubble by artificially surpressing our interest rates.

Thank you for ruining our manufacturing base by manipulating your currency and dumping your goods on unpatriotic and clueless Americans. And thank you for destroying the character of our towns and cites by enabling your evil partner Wal-Mart to destroy its competition with an endless supply of cheap dangerous crap from your sweat shops.

And by the way, you really didn't think we'd ever pay you back, did you?

Sincerely, HousingPANIC (and the Deadbeats of America)

China shying from shaky US mortgage market

While China is eager to invest a portion of its US$1.33 trillion foreign-exchange reserve overseas, it is unlikely to take a chance on buying additional US mortgage-backed securities (MBS) as they are now considered too risky, Chinese economists said.

"The Chinese economy is benefiting from high-yielding, safe investments in US mortgage-backed securities. Here at home, American homeowners are benefiting from lower interest rates on mortgage loans resulting from greater Chinese demand for these securities," Jackson said.