Geithner does stand-up comedy

They say that laughter is the universal language. Treasury Secretary Geithner learned this today in China.

Mr Geithner, in China on his first visit as US Treasury Secretary, sought to allay concerns that Washington’s growing budget deficit would fan inflation which, in turn, would undermine the dollar and US bonds.

“Chinese assets are very safe,” Mr Geithner said, answering a question after his opening address at Peking University this morning.

His answer was greeted with laughter by the students, who question the wisdom of China spending huge amounts of money on US bonds instead of improving domestic living standards.

At least Geithner will be able to find another career when this is over.

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oh yeah

did I mention the China PNTR was probably the biggest disaster for the United States since WWII?

Here is something I find that has some strong underlying racism.

The grandiosity of policy makers, way back when, that somehow we have to "help those people" of other nations or that somehow they would just endorse all United States business and agenda "because" if they did not have the smarts, the skills, the ability to plain beat our ass economically....

and that they would not be out to plain beat our ass economically....

I mean think about it. There is some underlying concept there which believes only the United States can put together a world economy and when it comes to 3rd world nations, ooh, they just need "help" if they couldn't simply cremate us with some smart strategy.

Now China laughs at us....ha, ha, ha....of course they are playing us as suckers make sure our economic demise doesn't mess up their plans.

They have a right to laugh.

They have a right to laugh.

The U.S. is currently $63.8 TRILLION in debt with more to come.

Geithner and his buddy Bernanke are bumbling idiots.

A Small Adjustment?

"Geithner and his buddy Bernanke are bumbling idiots."

You wouldn't mind if we took away from them the retardation defense, would you? And please feel free to introduce the moral dimension. Such a construct might then have you describing them as protozoa or fungi which from that latter perspective would be entirely just in my view. Of the two, Summers is the more contemptable. Geithner, naturally a follower, has learned his slither from others while Summers, on the other hand, is a genuine maestro in his own right. Wonder which Obama contributor was most influential in securing Summer's appointment?

Students are right.

Not only from China's perspective but ours as well. If we focused on improving our living standard maybe we wouldn't be the joker to the world.

We should have a single focus of improving our living standard and everything else will fall into place.

Congratulations greedy

Congratulations greedy corporate America. You have sucessfully given away the American lifestyle to the thankfull Chinese. For decades you have been transfering American jobs and wealth to the far east and anywhere else you could exploit labor. As you see America, capitalism has no country and no loyalty. American multinationals should be treated as though they are foreign entities with US operations and taxed to hell. If they leave who cares, they've already eliminated the American workforce.

Is this more serious

than Geithner's criticism of the RMB peg? That is, putting a protest on record to signal unhappiness but understanding that serious action would be disastrous for both parties? Surely they know that the deficit ship sailed a long time ago, that even more serious economic contraction now would increase the risk of default. Just as we knew that while a fixed RMB put us (and the rest of the world) at a competitive disadvantage currency speculation on the RMB would be utterly disastrous to everyone.

And now we have the 31 year old

almost out of Harvard, getting his first government job and will be restructuring GM. Is it true? Nothing against age but come on, experience does count for something.

Hm? But maybe not because the experienced folks screwed us to the wall.

I feel I am living the lyrics of that old Stealers Wheels song..."Clowns to the left of me, Jokers to the right".

Who is the next World Wonder that our President is going to parade down the isle?

I heard this too

and thought, OMG, because in my view, Harvard has been pumping out some real garbage lately in terms of policy.