I can't get passed the story about Timothy Geithner getting laughed at by Chinese students when he said he guarantees them that their American held assets are safe. LOL Who's the idiot here? Him or his boss? I'll go with option C, both of them. Funny enough, one of the chinese economists said well Timmy, can you like show us the math of this? Like how the heck are you going to pay off a 12 trillion dollars you've racked up in about a year trying to "save" the american economy? Or how speniding trillions of dollars on government healthcare is going to "save" and "reduce" costs. What kind of Orwellian nonsense is this? I have to say, I love the Chinese right now. I don't care what people say, these people are not stupid or close to stupid. If anybody is behaving dumb right now, look at the White House, Treasury, Fed and Congress. But I have to give props to the students at the university laughing at Timmy. I know they're thinking this "genius" cannot even figure out his own taxes on freaking Turbo Tax and he tells us that our T-bills are safe. I think they called bull on that one, anyone with half-a-brain could figure that out. I love it.
On a related note, I love how Ben Benarke wants to tell us that America will have to reduce deficits. Sooooo now you tell us. Ridiculous. NO DUH. After he has printed billions even trillions of dollars, he wants to talk about cutting back. Why the heck didn't you cut back on your printing machine Benny? I do honestly believe that they've figured out America can't pay the debt between what it is now and the coming second round of binge fiscal drinking of the Administration, so they are just going to have to raise taxes BIG TIME. And/or purposely devalue the dollar and screw China and the Sultans. We'll see how that works out, I don't think China will stand for that. Either way, it ain't gonna be pretty.
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