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View Full Version : Chinese students laugh at Geithner's assurances


MACH1
06-01-2009, 04:55 PM
http://www.reuters.com/article/companyNewsAndPR/idUSPEK14475620090601
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 skepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home.

Even the Chinese know this administration is a joke.

Vincent
06-01-2009, 07:24 PM
http://www.reuters.com/article/companyNewsAndPR/idUSPEK14475620090601

Even the Chinese know this administration is a joke.

Even Chinese students know this administration is a joke. Which begs the obvious questions about our students. And their "teachers". And their places of "learning". And their parents. And their neighbors. And...

WTF is wrong with you people???!!!

steelwall
06-01-2009, 08:01 PM
Sorry....but let me tell you from my own experience and I know it is wrong, but I'd say the majority of Chinese people are very racist toward blacks.......Obama doesnt get much love here.

It's unfair but true, a Chinese girl can bring home a white guy and the parents are ok with it, but black, and the kid is disowned.


But back to the policy thing, yes they see this as a joke, especially the stimulas package.

KeiselPower99
06-01-2009, 08:31 PM
Anyone hear about the part when Geithner tried to assure them and the Chineses guy was like yea yea wheres the math to back it up?

revefsreleets
06-02-2009, 09:26 AM
Actually, we can back up our debt. We can sell land.

I'm totally not joking...if any Country ever tried to call in a chit, we could leverage the debt with land or just flat-out sell acreage. Not the greatest option, but an option.

Unfortunately, with some of the numbers Obama is running, it could come to that...

xfl2001fan
06-02-2009, 09:29 AM
Actually, we can back up our debt. We can sell land.

I'm totally not joking...if any Country ever tried to call in a chit, we could leverage the debt with land or just flat-out sell acreage. Not the greatest option, but an option.

Unfortunately, with some of the numbers Obama is running, it could come to that...

I bet we'd get a great return on Alaska. Pipeline is already laid...and a country like China could careless about going green.

MasterOfPuppets
06-02-2009, 11:42 AM
i'd have no problem with them giving away california :noidea: ......but then again, all the mexicans would just move east...:doh:

xfl2001fan
06-02-2009, 11:53 AM
i'd have no problem with them giving away california :noidea: ......but then again, all the mexicans would just move east...:doh:

They're already here in Columbus.

SCSTILLER
06-02-2009, 12:52 PM
Even Chinese students know this administration is a joke. Which begs the obvious questions about our students. And their "teachers". And their places of "learning". And their parents. And their neighbors. And...

WTF is wrong with you people???!!!


Makes you wonder if the founding fathers could predict the future. They started the Electoral College based on the beleif that the "common folk" were too dumb to pick their own President. If it applied then, it still applies today!

And come on everyone, we know our dollar is going be stable and strong, The Chosen One has said it will be :bowdown:

steelwall
06-02-2009, 06:41 PM
Lets sell West Virginia to Canada, that way we don't have to drive so far for affordable health care...

KYsteelfan
06-02-2009, 06:56 PM
China is going to be the worlds superpower when hyper inflation hits and our dollar is worthless as the paper its printed on. my tip: learn mandarin

revefsreleets
06-03-2009, 07:48 AM
There is very little evidence that we are heading for any kind of inflationary expansion.