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lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
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Even the kids in China understand the future of the US dollar.
#10436142 - 06/01/09 04:02 PM (14 years, 9 months ago) |
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The US White House Treasury Secretary Tim Geithner was laughed at by an audience of Chinese students after insisting that China's US assets are safe.
In his first official visit to China since becoming Treasury Secretary, Mr Geithner told politicians and academics in Beijing that he still supports a strong US dollar, and insisted that the trillions of dollars of Chinese investments would not be unduly damaged by the economic crisis. Speaking at Peking University, Mr Geithner said: "Chinese assets are very safe."
The comment provoked loud laughter from the audience of students. There are growing fears over the size and sustainability of the US budget deficit, which is set to rise to almost 13pc of GDP this year as the world's biggest economy fights off recession. The US is reliant on China to buy many of the government bonds it is planning to issue but Beijing's policymakers have expressed concern about the strength of the dollar and the value of their investments.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5423650/Geithner-insists-Chinese-dollar-assets-are-safe.html
Meanwhile the "Federal Reserve is puzzled by US yield curve steepening."
The Fed is not really sure what is driving the sharp rise in long-dated bond yields, and especially a widening gap between short and long term yields.
The U.S. Treasury must sell a record net $2 trillion in new debt in 2009 to fund a $1.8 trillion projected fiscal deficit, resulting from falling tax revenues, an economic stimulus package and sundry bank bailouts.
The Federal Reserve said at its March meeting that it would buy up to $300 billion in longer-term Treasury securities over six months as part of its efforts to increase the money supply and ease the credit crunch of the past two years. So far, the Fed has bought $130.5 billion or about 44 percent of that $300 billion. The Fed also has a goal of buying up to $1.25 trillion of mortgage backed securities (MBS) and $200 billion of debt issued by agencies like Fannie Mae and Freddie Mac.
http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentID=2009060139683
i bet the students in china also know why we have a sharp rise in long-dated bond yields. (Obamas record fiscal deficit.)
we are buying back our bonds of debt because Obama can not find enough suckers to DUMP them on.....
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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zouden
Neuroscientist
Registered: 11/12/07
Posts: 7,091
Loc: Australia
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Re: Even the kids in China understand the future of the US dollar. [Re: lonestar2004]
#10436241 - 06/01/09 04:19 PM (14 years, 9 months ago) |
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Oh and you were doing so well until you tried to blame this on Obama
-------------------- I know... that just the smallest part of the world belongs to me You know... I'm not a blind man but truth is the hardest thing to see
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LeftyBurnz
Mr. I Eat Butthole
Registered: 06/21/05
Posts: 24,570
Loc: FL
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Re: Even the kids in China understand the future of the US dollar. [Re: zouden]
#10436293 - 06/01/09 04:26 PM (14 years, 9 months ago) |
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we are reaping the results of the previous administration more than anything.
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lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 12 years, 11 months
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Re: Even the kids in China understand the future of the US dollar. [Re: LeftyBurnz]
#10436363 - 06/01/09 04:34 PM (14 years, 9 months ago) |
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are you guys (including Obama) ever going to get tired of blaming everything on george bush?
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 12 years, 11 months
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Re: Even the kids in China understand the future of the US dollar. [Re: lonestar2004]
#10436385 - 06/01/09 04:37 PM (14 years, 9 months ago) |
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Obama Officials Defend Budget
Two of the administration's top economic officials defended President Obama's $3.6 trillion budget plan yesterday,
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/03/AR2009030303322.html
let me guess Bush is holding a gun to Obama's head to force him to create a RECORD $3.6 trillion budget plan...
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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LeftyBurnz
Mr. I Eat Butthole
Registered: 06/21/05
Posts: 24,570
Loc: FL
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Re: Even the kids in China understand the future of the US dollar. [Re: lonestar2004]
#10436432 - 06/01/09 04:44 PM (14 years, 9 months ago) |
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Quote:
lonestar2004 said: are you guys (including Obama) ever going to get tired of blaming everything on george bush?
after 6 years and $674,320,849,526 wasted on a war that never should have happened, NO.
obama may be on the same path as far as deficit, but george w. bush has made a deep and lasting mark on this country's economy.
are you ever going to blame anyone besides obama? i dont like the guy very much either, but for fucks sake he has been in office for only 5 months. he has inherited 8 years of the bush administration. get over it.
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LeftyBurnz
Mr. I Eat Butthole
Registered: 06/21/05
Posts: 24,570
Loc: FL
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Re: Even the kids in China understand the future of the US dollar. [Re: lonestar2004]
#10436440 - 06/01/09 04:46 PM (14 years, 9 months ago) |
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Quote:
lonestar2004 said: Obama Officials Defend Budget
Two of the administration's top economic officials defended President Obama's $3.6 trillion budget plan yesterday,
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/03/AR2009030303322.html
let me guess Bush is holding a gun to Obama's head to force him to create a RECORD $3.6 trillion budget plan...
it may not be the best idea for fixing the state of our wrecked economy, but its a fucking idea and something needs to at least be attempted.
if you have a rocksolid plan for fixing shit why dont you email it to the whitehouse?
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lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
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Re: Even the kids in China understand the future of the US dollar. [Re: LeftyBurnz]
#10436456 - 06/01/09 04:49 PM (14 years, 9 months ago) |
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Quote:
leftysurprise said:
it may not be the best idea for fixing the state of our wrecked economy, but its a fucking idea and something needs to at least be attempted.
"its a fucking idea and something needs to at least be attempted"
that's GOLD!
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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zouden
Neuroscientist
Registered: 11/12/07
Posts: 7,091
Loc: Australia
Last seen: 14 years, 5 months
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Re: Even the kids in China understand the future of the US dollar. [Re: lonestar2004]
#10436461 - 06/01/09 04:50 PM (14 years, 9 months ago) |
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No, of course Obama is responsible for his own budgets. But you're making the mistake of thinking that it would have been different with anyone else. Like as if McCain would magically produce a budget surplus. The country was already in deficit and heading into a recession. What did you think would happen?
-------------------- I know... that just the smallest part of the world belongs to me You know... I'm not a blind man but truth is the hardest thing to see
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lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
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Re: Even the kids in China understand the future of the US dollar. [Re: zouden]
#10436495 - 06/01/09 04:57 PM (14 years, 9 months ago) |
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i did not see the US purchasing its own debt! (monetizing)
did Bush do that?
and I'm not even going to debate WHAT McCain would have done...
McCain lost.
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 12 years, 11 months
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Re: Even the kids in China understand the future of the US dollar. [Re: lonestar2004]
#10436504 - 06/01/09 04:59 PM (14 years, 9 months ago) |
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does Australia Monetize its debt?
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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danielx
whatup!
Registered: 10/13/08
Posts: 6,500
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Re: Even the kids in China understand the future of the US dollar. [Re: zouden]
#10436525 - 06/01/09 05:05 PM (14 years, 9 months ago) |
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Quote:
zouden said: No, of course Obama is responsible for his own budgets. But you're making the mistake of thinking that it would have been different with anyone else. Like as if McCain would magically produce a budget surplus. The country was already in deficit and heading into a recession. What did you think would happen?
So wait, you mean to tell me...Since bush left it shitty, Obama has every right to make it shittier?
I criticized Bush's bad decisions, and now im criticizing Obamas bad decisions, its time to stop looking to the past and start looking at whats happening right now.
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LeftyBurnz
Mr. I Eat Butthole
Registered: 06/21/05
Posts: 24,570
Loc: FL
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Re: Even the kids in China understand the future of the US dollar. [Re: danielx]
#10436586 - 06/01/09 05:20 PM (14 years, 9 months ago) |
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lol. its perfectly fine to look ahead, but it is ridiculous to ignore the past.
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danielx
whatup!
Registered: 10/13/08
Posts: 6,500
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Re: Even the kids in China understand the future of the US dollar. [Re: LeftyBurnz]
#10437912 - 06/01/09 09:13 PM (14 years, 9 months ago) |
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atleast learn from your mistakes, instead of exacerbating the problem further. change you can believe in
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Taco Chef
I found dead John Cheever
Registered: 03/03/06
Posts: 33,222
Loc: the city of dis
Last seen: 3 years, 8 months
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Re: Even the kids in China understand the future of the US dollar. [Re: lonestar2004]
#10437955 - 06/01/09 09:19 PM (14 years, 9 months ago) |
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Quote:
lonestar2004 said: Obama Officials Defend Budget
Two of the administration's top economic officials defended President Obama's $3.6 trillion budget plan yesterday,
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/03/AR2009030303322.html
let me guess Bush is holding a gun to Obama's head to force him to create a RECORD $3.6 trillion budget plan...
at least this time the money is being spent into a far larger domestic pool than to the few it went to during GWB's term; that's what your pissed about, not the spending. you just liked the groups bush was giving the money too better
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buckwheat
Cynically Insane
Registered: 12/09/02
Posts: 11,179
Loc: Not Enough Characters to ...
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Re: Even the kids in China understand the future of the US dollar. [Re: LeftyBurnz]
#10438856 - 06/01/09 11:48 PM (14 years, 9 months ago) |
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Quote:
leftysurprise said: we are reaping the results of the previous administration more than anything.
And the one before it. More so.
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lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 12 years, 11 months
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Re: Even the kids in China understand the future of the US dollar. [Re: buckwheat]
#10439359 - 06/02/09 01:29 AM (14 years, 9 months ago) |
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Richard Nixon.
its all his fault!!! that's what my grandpa used to say....
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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zouden
Neuroscientist
Registered: 11/12/07
Posts: 7,091
Loc: Australia
Last seen: 14 years, 5 months
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Re: Even the kids in China understand the future of the US dollar. [Re: lonestar2004]
#10439383 - 06/02/09 01:33 AM (14 years, 9 months ago) |
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Quote:
lonestar2004 said: does Australia Monetize its debt?
Probably, I think all developed nations do.
-------------------- I know... that just the smallest part of the world belongs to me You know... I'm not a blind man but truth is the hardest thing to see
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lonestar2004
Live to party,work to affordit.
Registered: 10/03/04
Posts: 8,978
Loc: South Texas
Last seen: 12 years, 11 months
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Re: Even the kids in China understand the future of the US dollar. [Re: zouden]
#10439487 - 06/02/09 02:01 AM (14 years, 9 months ago) |
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Quote:
zouden said:
Quote:
lonestar2004 said: does Australia Monetize its debt?
Probably, I think all developed nations do.
really!!!!
seriously!!!!
do you have a link? (that Australia monetizes it debt.)
i promise to stop all (Obama is a fucking whore) who prints money to cover his spending!
only if you can prove that your country and other "developed nations" monetize its debt!
Links!!!!
please!!!!
pretty please!!
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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Yrat
Hello
Registered: 11/08/07
Posts: 2,312
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Re: Even the kids in China understand the future of the US dollar. [Re: lonestar2004]
#10439793 - 06/02/09 05:32 AM (14 years, 9 months ago) |
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Quote:
lonestar2004 said: i promise to stop all (Obama is a fucking whore) who prints money to cover his spending!
which president hasn't done so after 1913?
-------------------- "There are a thousand hacking at the branches of evil to one who is striking at the root." -Henry David Thoreau Strike The Root
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