{"id":4861,"date":"2009-05-31T09:06:48","date_gmt":"2009-05-31T14:06:48","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=4861"},"modified":"2009-05-31T09:14:37","modified_gmt":"2009-05-31T14:14:37","slug":"the-chinese-would-like-to-see-our-homework","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=4861","title":{"rendered":"The Chinese Would Like to See Our Homework"},"content":{"rendered":"

How bad our country’s balance sheet must be that we are sending our Secretary of State and Treasury Secretary to China…to beg…to promise…we’ll behave<\/em>?<\/p>\n

U.S. Treasury Secretary Timothy Geithner arrived in Beijing<\/a> with a pledge that the Obama administration will control its borrowing, seeking to reassure China that its Treasury holdings are safe.<\/p>\n

\u201cNo one is going to be more concerned about future deficits than we are,\u201d Geithner told reporters en route to two days of meetings that start tomorrow in China\u2019s capital.<\/p><\/blockquote>\n

Interesting word choice: “No one is going to be<\/em> more concerned about future deficits than we are.” In the mean time, being liberals, the only thing this administration knows how to do is spend more and tax more – under the guise of economic “rescue” this time.<\/p>\n

The Chinese however, who hold more of our debt than anyone else, can do math, and they too have noticed that every time Brack O. Bomba opens his mouth, another trillion dollars is stolen from our children.<\/p>\n

A Chinese state media report today said that 17 out of 23 Chinese economists polled in connection with Geithner\u2019s visit said that holdings of Treasuries are a \u201cgreat risk\u201d for the nation\u2019s economy.<\/p><\/blockquote>\n

Let me pause to underscore the notion that the Chinese feel our<\/em> economy poses a great risk to theirs<\/em>.<\/p>\n

Geithner needs to show how the U.S. can prevent the value of China\u2019s debt holdings being eroded by a weaker dollar or by inflation driven by the stimulus money being pumped into the U.S. economy, according to Yu.<\/p>\n

\u201cIt will be helpful if Geithner can show us some arithmetic,\u201d he said.<\/p><\/blockquote>\n

Uh oh. That’s trouble. Math is no friend of the Obama administration.<\/p>\n

There aren’t arithmetic or historic data depicting successful outcomes of huge government borrowing to fund huge government spending to counter a crisis caused by huge government, corporate and consumer borrowing. Rather, the arithmetic will show catastrophic devaluation of the dollar – the very inflation the Chinese are fearful of.<\/p>\n

How do you say “Oops” in Chinese?<\/p>\n","protected":false},"excerpt":{"rendered":"

How bad our country’s balance sheet must be that we are sending our Secretary of State and Treasury Secretary to China…to beg…to promise…we’ll behave? U.S. Treasury Secretary Timothy Geithner arrived in Beijing with a pledge that the Obama administration will control its borrowing, seeking to reassure China that its Treasury holdings are safe. \u201cNo one […]<\/p>\n","protected":false},"author":228,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57,11],"tags":[],"class_list":["post-4861","post","type-post","status-publish","format-standard","hentry","category-economy-and-the-market","category-world"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/4861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/228"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4861"}],"version-history":[{"count":0,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/4861\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4861"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}