Oh yeah, NOW we're screwed

[TehBorken]

Chinese banks told to stop loaning money to American banks

Uh-Oh: "Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the [a href="vny!://www.scmp.com/"][em]South China Morning Post[/em][/a] reported on Thursday."

[a href="vny!://www.reuters.com/article/companyNewsAndPR/idUSPEK16693720080925"]China banks told to halt lending to US banks[/a], [em]South China Morning Post[/em] via Reuters [hr style="width: 100%; height: 2px;"]
Geee, boys and girls, guess what happens when China stops loaning us money? That's right- massive economic failures, businesses go under, unemployment skyrockets, the government does a total crash-n-burn, and basically everything stops. And that's the good news.
 

[P.C.]

Yipes TehBorken.  We have a lovely shop that would make an adorable little house (emphasis on little), if you need.  

  Seriously....that's a little frightening isn't it ?

[JJ]

 [FONT size=4]China paper urges new currency order after "financial tsunami[/FONT]

 The People's Daily is the official newspaper of China's ruling Communist Party, and the overseas edition is a smaller circulation offshoot of the main paper.

[SPAN id=midArticle_2][/SPAN] Its pronouncements do not necessarily directly reflect leadership views, but this commentary by a professor at Shanghai's Tongji University suggested considerable official alarm at the strains buckling world financial markets.

[SPAN id=midArticle_3][/SPAN] China's central bank earlier this week cut its lending rate for the first time in six years, a move analysts said was aimed at bolstering the economy and the battered stock market.

[SPAN id=midArticle_4][/SPAN] "The eruption of the U.S. sub-prime crisis has exposed massive loopholes in the United States' financial oversight and supervision," writes the commentator, Shi Jianxun.

[SPAN id=midArticle_5][/SPAN] "The world urgently needs to create a diversified currency and financial system and fair and just financial order that is not dependent on the United States."

 [A href="vny!://www.reuters.com/article/usDollarRpt/idUSPEK4365020080917"]vny!://www.reuters.com/article/usDollarRpt/idUSPEK4365020080917[/A]