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Detailed text transcripts for TV channel - MSNBC - 20111003:20:36:00

the big bogeyman on this, as always, hold on, there, mr. yippie-ki-yay. if you do that, the chinese finance america and they re going to come over here and we re all going to be speaking chinese, if you mess with them. hang on, peter, i m going to the professor here. how do you reconcile that? our problem is not that there s too few people, it s that there are too many people. we are a flood in world liquidity. and that permits the congress to do things that perhaps it shouldn t be doing. true. we would be a lot better off if the chinese were not financing our debt. why? because, then we wouldn t be in so much debt. and clearly, debt is a problem that constrains us, because we can t have a stimulus bill because we don t have the money to do it. get it. peter, how do you reconcile the bogeyman factor, that if you do this currency bill, china s going to screw you by jacking interest rates that are going to stop lending you money, you re going to be screwed? there s a co ....

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