Posts Tagged ‘China’

Glenn Beck Show - The Revolutionary Holocaust - January 22, 2010 - Pt 1 of 7, Youtube.com

Pt 2 of 7 at http://www.youtube.com/watch?v=VkRHCzd_5rA

See all 7 parts at http://lucianne.com/article/?pageid=glenn_beck_show

By Zhou Xin and Jason Subler, Shanghai Daily, December 18, 2009

IT is getting harder for governments to buy United States Treasuries because the US’s shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said yesterday.

The comments by Zhu Min, deputy governor of the People’s Bank of China, referred to the overall situation globally, not specifically to China, the biggest foreign holder of US government bonds.

Chinese officials generally are very careful about commenting on the dollar and Treasuries, given that so much of its US$2.3 trillion reserves are tied to their value, and markets always watch any such comments closely for signs of any shift in how it manages its assets.

China’s State Administration of Foreign Exchange reaffirmed this month that the dollar stands secure as the anchor of the currency reserves it manages, even as the country seeks to diversify its investments.

In a discussion on the global role of the dollar, Zhu told an academic audience that it was inevitable that the dollar would continue to fall in value because Washington continued to issue more Treasuries to finance its deficit spending.

Read more at http://www.shanghaidaily.com/sp/article/2009/200912/20091218/article_423054.htm

Permission to laugh at Obama, sir?
Permission granted.

Hilarious video at link below, but do NOT view while children are in the room.

SNL Obama Jintao Press Conference in Beijing (VIDEO, 6:44)

http://www.youtube.com/watch?v=NxYSduRES1o

“I am noticing that each of your plans to save money involves spending even more money.” That’s not exactly a revelation to those who have been paying attention, but it’s legitimate political commentary that may be news to some in the SNL audience.

From  http://www.powerlineblog.com/archives/2009/11/025002.php

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Q: What’s the real problem with Barack Obama jokes?
A: His followers don’t think they’re funny and everyone else doesn’t think they’re jokes.

by James Pethokouki, November 16th, 2009

Guess what? It turns out the Chinese are kind of curious about how President Barack Obama’s healthcare reform plans would impact America’s huge fiscal deficit. Government officials are using his Asian trip as an opportunity to ask the White House questions. Detailed questions.

Boilerplate assurances that America won’t default on its debt or inflate the shortfall away are apparently not cutting it. Nor should they, when one owns nearly $2 trillion in assets denominated in the currency of a country about to double its national debt over the next decade.

Nothing happening in Washington today should give Beijing any comfort or confidence about what may happen tomorrow. Healthcare reform was originally promoted as a way to “bend the curve” on escalating entitlement costs, the major part of which is financing Medicare and Medicaid. That is looking more and more like an overpromised deliverable.

Read more at http://blogs.reuters.com/james-pethokoukis/2009/11/16/china-questions-costs-of-us-healthcare-reform/

How often do we have to say it: We’re Broke!

by Edwin Mora, Tuesday, May 12, 2009

(CNSNews.com) — The National Institute of Alcohol Abuse and Alcoholism (NIAA), a part of the National Institutes of Health (NIH), will pay $2.6 million in U.S. tax dollars to train Chinese prostitutes to drink responsibly on the job. Dr. Xiaoming Li, the researcher conducting the program, is director of the Prevention Research Center at Wayne State University School of Medicine in Detroit. The grant, made last November, refers to prostitutes as “female sex workers”–or FSW–and their handlers as “gatekeepers.” . . . Li said his study is being done in China rather than the U.S. because prostitution occurs with alcohol use in the United States like it does in China, Americans will be able to benefit from the project’s findings.

Read more at http://www.cnsnews.com/public/content/article.aspx?RsrcID=47976

(The above is one of) 50 Examples of Government Waste

Read more examples at http://blog.heritage.org/2009/10/08/50-examples-of-government-waste/

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These are just a few examples of why we have a TRILLION dollar deficit (along with TARP etc.)