In our last post (Maybe the Biden Administration is Damaging The Dollar Intentionally), we included a chart showing Chinese dumping of Treasuries. 

British economist Philip Pilkington uses that chart as a jumping off point for the disturbing X thread below. He points out a key difference in Chinese ownership of U.S. Treasuries now: 

It used to be that these bonds were bought by China and other governments/central banks. These were stable buyers because it was part of their trade strategy - prop up the US trade deficit to sell more exports. Now increasingly they are bought by private foreign investors.

Unlike central banks, these private investors are rate-sensitive. Unlike during 2008, when Treasuries rallied as a haven trade, Pilkington warns that the next time we have a recession in the U.S., and the Fed cuts rates significantly, these Chinese private investors are going to dump their Treasuries. 

And that could lead to a decline in American living standards of about 27%.