Glen L.

Multiple Warning Shots from China

From Reuters:

""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 accumulating 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."

Sounds like those Chinese students have been listening to a real leader who understands economics - Ron Paul.

Obama's 'Buy American' Plan May Meet China's Export-Led Growth in 2009

Yes, Yogi, it's "deja vu all over again".

Obama says he's busy studying FDR's inauguration speeches, to learn how to soothe the masses and assure them he's on the job of restoring the American economy. And he's obviously playing FDR to George Bush's Herbert Hoover with his stated economic policies. The tragic mistakes of 1930-1939 are being repeated, one after another. Great Depression II is assured. And, like a bad dream that repeats itself night after night, I predict that Obama's popularity will soar even as we fall deeper into depression, just as FDR's did. "Buy America First" will be applauded by the vast majority, even as prices at Walmart soar and incomes and jobs decline.

The only consolation is that the Chinese government seems to be as stupid as ours. Stupidity knows no racial or national boundaries.