Obama:China could be branded Currency manipulator!?!?!
Submitted by silentboom on Fri, 01/23/2009 - 14:12
"Because China accounts for such a large fraction of the world economy, a further slowdown in China would lead to a substantial fall in world growth and demand for U.S. exports and delay recovery from the crisis," Geithner said. "Therefore, the immediate goal should be for us to convince China to adopt a more aggressive stimulus package as we do our part to try to pass a stimulus package here at home."
http://news.yahoo.com/s/ap/20090123/ap_on_bi_ge/geithner_china
If China has savings and we do not, does this not mean that China is being asked to pay for our inflation and debt with their savings and being forced to pay for a stimulus out of their savings?
That
boisterous reply from Geithner represents sheer ignorance. China's economy is faltering as well in exports and imports. This plea from Geithner is just a forceful attempt to make China work harder.
" Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master. " - George Washington
" Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master. " - George Washington
Unbelievable
the nerve.
What are these "U.S.
What are these "U.S. exports" he speaks of? I'm not familiar.
The nerve, the gall of this guy! If I was China, I'd sell every Treasury right now in response to that hubris.
http://federalfallacy.com
http://federalfallacy.com
Bump
Bump for financial and personal liberty.
"The credit expansion boom is built on the sands of banknotes and deposits. It must collapse.", www.mises.org
"In the capitalist society there is a place and bread for all. Its ability to expand provides sustenance for every worker. Permanent unemployment is not a feature of free capitalism." - Mises - www.mises.org, http://www.freedomshift.blogspot.com