Catherine Rampell

Yeah, so that's definitely a risk. I don't know if we know yet how China's position has changed, but that's definitely a risk. And that's part of what I was talking about. Like people don't want any money in the United States and they may not want money in the United States because they think it's too risky.

Yeah, so that's definitely a risk. I don't know if we know yet how China's position has changed, but that's definitely a risk. And that's part of what I was talking about. Like people don't want any money in the United States and they may not want money in the United States because they think it's too risky.

Like I said, they may not want money in the United States because they want to retaliate, right? They want to draw... If China dumps its treasuries, it's not intuitive, but like... treasury prices go down and rates go up. And so when like Larry was talking before about an emerging market, that's sort of what he meant that it's like people don't want to buy that government's debt.

Like I said, they may not want money in the United States because they want to retaliate, right? They want to draw... If China dumps its treasuries, it's not intuitive, but like... treasury prices go down and rates go up. And so when like Larry was talking before about an emerging market, that's sort of what he meant that it's like people don't want to buy that government's debt.

Like I said, they may not want money in the United States because they want to retaliate, right? They want to draw... If China dumps its treasuries, it's not intuitive, but like... treasury prices go down and rates go up. And so when like Larry was talking before about an emerging market, that's sort of what he meant that it's like people don't want to buy that government's debt.

And so it becomes much more expensive for that government to borrow because like they have to offer an increasingly higher interest rate to attract investors. So Yeah, so China has a lot of leverage here. China doesn't own as much in the way of treasuries as it once did, or at least as like a share of all of the treasuries out there.

And so it becomes much more expensive for that government to borrow because like they have to offer an increasingly higher interest rate to attract investors. So Yeah, so China has a lot of leverage here. China doesn't own as much in the way of treasuries as it once did, or at least as like a share of all of the treasuries out there.

And so it becomes much more expensive for that government to borrow because like they have to offer an increasingly higher interest rate to attract investors. So Yeah, so China has a lot of leverage here. China doesn't own as much in the way of treasuries as it once did, or at least as like a share of all of the treasuries out there.

But they could be deciding, you know, this will be painful for Washington and that's why we'll do it. I don't know.

But they could be deciding, you know, this will be painful for Washington and that's why we'll do it. I don't know.

But they could be deciding, you know, this will be painful for Washington and that's why we'll do it. I don't know.

Sorry, this is like a much more technical discussion than I was expecting.

Sorry, this is like a much more technical discussion than I was expecting.

Sorry, this is like a much more technical discussion than I was expecting.

Fewer hot takes and more boring.

Fewer hot takes and more boring.

Fewer hot takes and more boring.

That's the correct intuition. And Trump is apparently about to find that out. Because again, he was not anticipating this. He had been bragging, I think even as recently as yesterday or the day before, he's like, see, we're getting interest rates go down. And it's like... look at the chart, chart not match words, which is quite a common phenomenon, obviously, for Donald Trump.

That's the correct intuition. And Trump is apparently about to find that out. Because again, he was not anticipating this. He had been bragging, I think even as recently as yesterday or the day before, he's like, see, we're getting interest rates go down. And it's like... look at the chart, chart not match words, which is quite a common phenomenon, obviously, for Donald Trump.

That's the correct intuition. And Trump is apparently about to find that out. Because again, he was not anticipating this. He had been bragging, I think even as recently as yesterday or the day before, he's like, see, we're getting interest rates go down. And it's like... look at the chart, chart not match words, which is quite a common phenomenon, obviously, for Donald Trump.