Reply With Quote
china has been laughing for years, now.
so has bin ladin.
Geithner tells China its dollar assets are safe
http://www.reuters.com/article/usDol...14475620090601
By Glenn Somerville
BEIJING, June 1 (Reuters) - U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency.
A major goal of Geithner's maiden visit to China as Treasury chief is to allay concerns that Washington's bulging budget deficit and ultra-loose monetary policy will fan inflation, undermining both the dollar and U.S. bonds.
China is the biggest foreign owner of U.S. Treasury bonds. U.S. data shows that it held $768 billion in Treasuries as of March, but some analysts believe China's total U.S. dollar-denominated investments could be twice as high.
"Chinese assets are very safe," Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.
His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country ac ulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home.
But later in the day, Chinese Vice Premier Wang Qishan said it was important for the two nations to show the world they are working together through their joint economic dialogue.
"We must through our dialogue send a clear signal that China and the U.S. are engaged in practical cooperation to address the crisis," Wang told Geithner, according to the Chinese Foreign Ministry's website (www.mfa.gov.cn).
"This is important for boosting confidence and encouraging global financial stability and economic revival," said Wang.
In his speech, Geithner renewed pledges that the Obama administration would cut its huge fiscal deficits and promised "very disciplined" future spending, possibly including reintroduction of pay-as-you-go budget rules instead of nonstop borrowing.
"We have the deepest and most liquid markets for risk-free assets in the world. We're committed to bring our fiscal deficits down over time to a sustainable level.
Geithner, don't you think the Chinese have been lied to enough over the years that they can't tell when its happening again?
china has been laughing for years, now.
so has bin ladin.
wow. i hope that video gets uploaded. come on, youtubes.
The US has really become a laughing stock.
Combined with US's imperialistic greed for oil leading to phony wars, the Repugs really ran down America.
More laugh material: US wants other countries to take Gitmo guys that the US are too scared to take.
....couple those with obama's Nero move last night.
Are you ever NOT a ?
Bravo good sir Bravo
Still bringing up Bush bull on non bull Bush topics.
It's funny seeing you guys doing the same thing these neoconBush nuthuggers did/do. You are the equivalent. Two equal sides spaced along the spectrum. Hate hate hate duurrrrr
China manipulates their currency just as much as the United Thieves of America. We are on the same sinking ship.
Last edited by FaithInOne; 06-01-2009 at 05:04 PM.
I wonder how much longer people are going to blame the Bush administration for Obama administration economic policies.
Bush may have participated in the bailouts but he sure as didn't make Obama ram the 'stimulus' through Congress where most of the increase in the deficit is coming from.
micca forum where you talk to yourselves.
lol
A guy goes to dinner with his wife, that's a Nero move?
You wrongies are eternally wrong.
You wrongies trash Obama for the bailouts but NEVER have I heard a workable alternative from the wrongies.
I hate bailing out the fraudulent, blood-sucking, criminal financial sector, but the business-friendly Repugs would have done exactly the same.
The Chinese have seen Obama's s game before. , they've even perpetrated much of it.
Geithner says, don't worry and the Chinese say, we'd prefer to see your math.
he's making this up
I would have laughed too...
Geithner to Reassure China U.S. Will Control Deficits
“It will be helpful if Geithner can show us some arithmetic."
3 planes to a different state at taxpayers expense the day before he told people at GM they have to sacrifice. call it nero. call it whatever doesn't offend. pretty much a jackass move if you ask me.
HURRAY FOR UNCLE ScAM!!!
At some point, reference to Bush has to stop. But now isnt that time and I think for some, that time will never come.
Blaming America's economic disaster on Bush is laughable, really. Sure, he had a large hand in it, but so did every other administration for the past 40 years.
I know once people admit that, it makes common, everyday news stories kind of moot, but...
Seriously, I dont think I know another person in my personal life besides my grandfather who so beligerently defends political concepts with the same tenacity and consistency as most here.
I mean, where in your lives was open-mindedness shunned for ideological groupthink? And how did you get to your age without ever thinking that might not be the best approach to life and politics?
Seriously, some of these stances are so completely foreign to me as a human being who was raised to think for yourself and that allegiances are fleeting.
I'll stop blaming Repugs for the financial disaster that occurred on their deregulating/lax-enforcement "watch" (eg, dubya blocked 19 states from going after predatory lenders) when the Repugs and wrongies quit absolving dubya and head for 9/11 and quit blaming 9/11 on Slick Willy.
The nonstop sandboxery has me down, too. I've been trying to focus on addressing posters who have something interesting to say, rather than wasting so much time/energy on dunderheads and dolts. It's easy to get sucked in. I sure did for awhile there.
You made this up.The Chinese have seen Obama's s game before. , they've even perpetrated much of it.
What do you expect from Clambake. I put that asshole on IGNORE long ago. Simply not worth reading any of that sissy's posts.Bravo good sir Bravo
Still bringing up Bush bull on non bull Bush topics.
It's funny seeing you guys doing the same thing these neoconBush nuthuggers did/do. You are the equivalent. Two equal sides spaced along the spectrum. Hate hate hate duurrrrr
China manipulates their currency just as much as the United Thieves of America. We are on the same sinking ship.
You're denying that the Chinese have been guilty of blowing smoke up other countries' asses?
Because, it's to that which I was referring.
And, you're right, I did make it up. It's called an opinion.
Yes when pigs fly! I had to hear how Clinton this and Clinton that for the last 8 years, Bush and all his butt hurt salad tossers in this forum!
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
