Fergie's Tech Blog

Satire: China Calls In U.S. Loans, Demands California

Andy Borowitz writes in Newsweek:

In a move expected to roil the world economy, China today called in all of its loans to the United States and demanded the State of California as repayment.

For years, economists have seen the U.S.'s heavy debt burden to China as something of a ticking time bomb, but few anticipated that Chinese President Hu Jintao would insist that the U.S. repay the loans by signing over ownership of the Golden State.

According to University of Minnesota economist Davis Logsdon, owning California would give the Chinese an opportunity to reverse its longstanding relationship with the U.S.: "China would own the Hollywood film business, and the U.S. would have to settle for pirated DVDs."

posted by Fergie @ 5/31/2006 11:02:00 AM