Article

2009-10-18 Economy

China gets tough over Americas ballooning debt

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Posted by tipper 2009-10-18 08:32|| || Front Page|| [4 views ] Top

#1 But President Harry Truman, advised by communist spies such as Harry Dexter White, insisted on terms so onerous...

Who needs advisers when the Prez himself was raised in an atmosphere of 'red' collectivism, redistribution, etc.

Posted by Procopius2k 2009-10-18 09:12|| 2009-10-18 09:12|| Front Page Top

#2 No such plan exists. Obama, who styles himself a "transformational president", intends to keep the spending taps wide open.

The tale begins on Christmas Eve 2009, Three Christmas ghosts visit ~~Scrooge~~ Obama during the course of the night. The first, the Ghost of ~~Christmas~~ Americas Past, takes ~~Scrooge~~ Obama to the scenes of his boyhood and youth which stir the old skinflint's gentler and tenderer emotions. The second spirit, the Ghost of ~~Christmas~~ Americas Present, takes ~~Scrooge~~ Obama to the home of his nephew Fred (of Rantburg) and to the humble dwelling of his ~~clerk Bob Cratchit~~ Press Secretary to observe their Christmas dinners. The third spirit, the Ghost of ~~Christmas~~ America Yet to Come, harrows ~~Scrooge~~ Obama with dire visions of the future if he does not learn and act upon what he has witnessed. The Crippled ~~Tiny Tim~~ Economy does not die as the ghost foretold and ~~Scrooge~~ Obama becomes a different man, treating his fellow men with kindness, generosity, and compassion, and gaining a reputation as a man who embodies the spirit of ~~Christmas~~ America .
~~Scrooge's~~ Obamas redemption underscores the conservative, individualistic, and patriarchal aspects of Dickens's 'Carol philosophy' which depended on a more fortunate individual willingly looking after a less fortunate one who had demonstrated his worthiness to receive such attention. Government or other agencies were not called upon to effect change in an economy that created extremes of wealth and poverty but personal moral conscience and individual action in a narrow interpretation of the old forms of 'noblesse oblige' were expected to do so.

Posted by Zenobia Thing7872 2009-10-18 09:26|| 2009-10-18 09:26|| Front Page Top

#3 I'm thinking the Chicoms will be sending the bill to the politburo in Washington. But, but, but, we have all these admirers of Mao in D.C.

Posted by JohnQC 2009-10-18 10:56|| 2009-10-18 10:56|| Front Page Top

#4 Gawd bless us each and every one. And ifn he don't we got guns enought to put your asses in camps where you'll damn sure wish you got deh blessed.

Posted by .5MT 2009-10-18 18:44|| 2009-10-18 18:44|| Front Page Top

#5 Interestingly, there has been a large increase in China purchases of US Treasuries over the last year, probably reflective of increased China personal savings due to economic uncertainties.

Posted by phil_b 2009-10-18 20:06|| 2009-10-18 20:06|| Front Page Top

#6 So increased Chinese personal purchases are offsetting decreased Chinese government purchases? Fascinating reflection on the trust the moneyed Chinese have in their own government.

Posted by trailing wife">trailing wife 2009-10-18 20:33|| 2009-10-18 20:33|| Front Page Top

#7 TW, all Chinese purchases are Government purchases. The mythical Chinese "saver" is an illusion. The Chinese middle and moneyed class are as profligate as the the US consumers. The government confiscates all US dollars by law and gives exporters Yuan instead. Those US dollars are then invested in the US as Nial Ferguson says in the article:
The weakening of the dollar is terrible news for practically all of the rest of the worlds economies, except the U.S. and China, Harvard University Professor Niall Ferguson said in an Oct. 16 interview on Bloomberg Radio. China, which manages the yuans appreciation, will intervene to make sure the dollar does not weaken relative to its currency, added Ferguson, author of The Ascent of Money: A Financial History of the World.

Posted by tipper 2009-10-18 23:42|| 2009-10-18 23:42|| Front Page Top

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