"Upbeat Obama touts new economic model for recovery" by Tom Raum and Jim Kuhnhenn, Associated Press Writers | March 13, 2009
WASHINGTON -- .... The White House attempts to be positive matched a fourth day in a row of stock market gains. The Dow Jones industrials gained 53.92 points to cap Wall Street's best week since last November....
Despite the new enthusiasm at the White House and on Wall Street, there was little solid evidence to suggest an end was in sight to the severe recession that has already cost the U.S. over four million jobs, driven home values down and sent foreclosures soaring.
And there were fresh signs of financial stress. The Commerce Department reported Friday that the U.S. trade deficit plunged in January to the lowest level in six years as the economic downturn cut America's demand for imported goods.
And China's premier, Wen Jiabao, expressed concern over the U.S. economy and the value of his own nation's vast holdings in Treasury bonds. China is Washington's biggest foreign creditor, holding an estimated $1 trillion in U.S. government debt.
"We have lent a huge amount of money to the U.S., so of course, we are concerned about the safety of our assets," Wen told reporters in Beijing. But in Washington, Lawrence Summers, Obama's top economic adviser, said it was time for America to move past an "excess of fear" that has made things worse....
As these guys CONTINUE with the TERRORISM LIES!! Pfffffttt!
Also see: The China Syndrome
On Friday, the president called on Americans to keep "focused on all the fundamentally sound aspects of our economy." The phrase had a familiar ring.
Yeah, it SURE DOES!!!
During the heat of the presidential campaign last September, Obama ridiculed rival John McCain when he declared, "The fundamentals of our economy are strong."
Ah, well, that was just a bunch of POLITICAL BULLSHIT to FOOL the MASSES into believing they were "voting for change." What a SLICK SALESMAN you got, Amurka -- GEORGE W. BUSH with a BLACK SKIN!!!!!!!!!!
As for the Chinese premier's comments on U.S. Treasury bonds, White House spokesman Robert Gibbs said, "There's no safer investment in the world than in the United States."
WTF you smoking, Gobbs? Share, will ya?
"China concerned about security of US investments; Funds placed with Treasury and in bonds" by Don Lee and Barbara Demick, Los Angeles Times | March 14, 2009
They didn't get the Gibbs quote?
SHANGHAI - Chinese Premier Wen Jiabao voiced concerns yesterday about the security of China's massive investments in US government debt, even as he expressed confidence in the economic leadership of President Obama.
"To be honest, we are a little bit worried," Wen said, speaking at the closing news conference of China's annual legislative session.
Are YOU KIDDING ME? A POLITICIAN is FINALLY HONEST and it has to turn out to be a COMMUNIST CHINESE? Oh, AmeriKa!!!
"We have loaned huge amounts of money to the United States, so of course, we have to be concerned. . . . We hope the United States honors its word and ensures the safety of Chinese assets."
Oooooh, I don't know. We ain't too good at that word thing.
China is America's biggest foreign creditor. About one-half of China's estimated $2 trillion of foreign exchange reserves, the largest in the world, are invested in US Treasury and other government-backed bonds. China's continued holdings and future purchases of American debt are seen as an important part of financing Obama's $787-billion economic stimulus plan.
Oh, so it will be the CHINESE PUTTING YOU to WORK, Americans!!
Better be NO MORE WAR TALK then!!!!
Wen's comments, coming after a string of otherwise upbeat pronouncements about China's economic prospects, were unusual in that he has rarely spoken up on the issue, nor in such frank terms.
Look at the HONESTY throw the agenda-pushing reporters (and editors) for a loop!!!!!
Analysts said they doubted the remarks were impromptu; rather, they may have been intended in part to send a message, perhaps to Americans in particular, about just how much they are reliant on the Chinese for their economic security.
Yeah, and here WE ARE BENDING OVER for ISRAEL and the JOO!!!!! Gotta be some ZIONIST-INDUCED RACISM there, although AmeriKa has always been quite comfortable killing the yellow (and red, and balck) man! Ask a Vietnamese.
"I suppose you could kind of view it as a shot across the bow," said Mark Williams, Asia economist at Capital Economics Ltd. in London.
Like CHINA is being the ARROGANT AGGRESSOR? Because they DON'T WANT to be ROBBED like the American people have been? (Blog editor snorts in exasperation)
Wen gave no indication whether Beijing wants changes in US policy. But economists said his comments reflect fears that higher budget deficits from Washington's $787 billion stimulus package could drive down the dollar and the value of China's Treasury notes.
Yup. Planned, in fact. Which will destroy the Chinese juggernaut and the AmeriKan economy -- while Israel sits pretty with no reduction in U.S. aid.
"China is telling the US to be careful, not to overspend and keep an eye on the dollar," said Kelvin Lau, regional economist at Standard Chartered in Hong Kong.
Why do the COMMUNIST CHINESE sound like RON PAUL? Aaaaaaah!!
"There are risks that China cannot control, so they're and depending on the US to maintain fiscal prudencekeep the dollar reasonably stable."
Uh, I wouldn't be depending on that, China. Not at the rate the Fed is printing money.
In Washington, White House press secretary Robert Gibbs responded to Wen's concerns by saying that the Chinese should rest assured because investments in the United States are the safest in the world.
That's the second time I say that. Trying to reassure us, is the lying, deceitful, agenda-pushing press?
In a visit to China in February, Secretary of State Hillary Rodham Clinton sought to assure Beijing that US assets remained a reliable investment. Beijing has not given indications of any major shift in its current investments or future buying plans, although analysts expect Chinese policymakers to gradually diversify its holdings.
If they are SMART (which they are)!!!!
About two-thirds of China's foreign reserves, accumulated from the nation's booming trade surplus, are estimated to be held in US-denominated assets. To a large degree, though, China's hands are tied, because any big withdrawals or sharp changes in purchasing could seriously disrupt global markets and hurt China's own interests.
What they call a catch-22, right?
Still, Chinese policy makers and scholars increasingly have raised concerns about putting too much of the funds in one basket, and a rickety one at that. Some have urged more investment in tangible assets such as natural resources and technology, and less of US government bonds. Their view is that these securities are susceptible to a large drop in value because of the risks of a falling dollar or rising inflation as Washington prints more money to support its spending....
Doesn't the DISINGENOUS DISRESPECT the paper gives RON PAUL when he is RIGHT make you MAD, readers?
China's response to the global economic crisis was a dominant theme during the meeting of the National
That going on all week and I've been getting stories about Tibet?
Talk about your SELECTIVE CENSORSHIP and AGENDA-PUSHING WAR-MONGERING!!!
--more--"
Yeah, and slide this in on a slow Saturday, too:
BEIJING - Two Chinese intellectuals, jailed after their political discussion group drew the attention of public security officials, were released from prison Thursday, just one day short of completing their eight-year sentences.
Yang Zili, 37, an Internet entrepreneur, and Zhang Honghai, 36, a freelance writer, were arrested in 2001 along with two friends whose informal study group sought to tackle topics such as government corruption, democracy, and the unrelenting poverty of rural China.
The group, which they named New Youth Society, rarely drew more than four or five participants and met sporadically over the course of a few months before its membership was detained. "I still don't understand why were punished so severely," Yang said in an interview yesterday. "We never broke any laws."
The defendants, who came to be known as the "Four Gentlemen of Beijing," were convicted of subversion during a trial that relied on their Internet postings advocating political liberalization and the testimony of three friends who later recanted.--more--"
Yeah, about China and the human rights and all, see: U.S. Tortures for China
That kinda covers why I don't like criticizing others. AmeriKa and it's joospapers don't face up to the crimes of USrael, but they are quite willing to incessantly bash "official enemies" in their war-promoting pages!
That's not saying the Chinese are great; I've come to find that all states stink, no matter how small. Look at my own piece of puke corner of the world here in Massachusetts.
