US May Face 'Armageddon' If China, Japan Don't Buy Debt -- CNBC
The US is too dependent on Japan and China buying up the country's debt and could face severe economic problems if that stops, Tiger Management founder and chairman Julian Robertson told CNBC.
"It's almost Armageddon if the Japanese and Chinese don't buy our debt,” Robertson said in an interview. "I don't know where we could get the money. I think we've let ourselves get in a terrible situation and I think we ought to try and get out of it."
Robertson said inflation is a big risk if foreign countries were to stop buying bonds.
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My Comment: I do not think the US will face "Armageddon", but it will bust the U.S. Government budget and impact the services that it supplies. Hmmmm .... OK .... it sounds like Armageddon when you look at it that way.
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