Empire State Building turns red-yellow for China’s 60th

What in the name of Christ is going on?

NEW YORK — New York’s iconic Empire State Building will light up red and yellow Wednesday in honor of the 60th anniversary of communist China.

The Chinese consul, Peng Keyu, and other officials will take part in the lighting ceremony which will bathe the skyscraper in the colors of the People’s Republic until Thursday, Empire State Building representatives said in a statement.

I guess they are our masters now. Might as well kneel before them.

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.

“If the Chinese and Japanese stop buying our bonds, we could easily see [inflation] go to 15 to 20 percent,” he said.  “It’s not a question of the economy. It’s a question of who will lend us the money if they don’t. Imagine us getting ourselves in a situation where we’re totally dependent on those two countries. It’s crazy.”