China's Wen Is `Worried' at Safety of U.S. Treasuries, Asks for Assurances

local_crusher · Mar 13, 2009

- immediately stop both wars (both are lost anyway)
- cut military spending by > 60%
- cut other govt spending

> not going to happen

This makes me think, there will be a "military solution" to this debacle instead at some point

Sponger · Mar 13, 2009

Bylowsellhi,

Just to clarify for everyone, the comments about wanting assurances on U.S. debt are old news....the initial remarks were made over a month ago, back in early February. So this is not something new. Don't want people to think this is shocking at this point.

- Sponger

Sponger · Mar 13, 2009

Quote from local_crusher:

- immediately stop both wars (both are lost anyway)
- cut military spending by > 60%
- cut other govt spending

> not going to happen

This makes me think, there will be a "military solution" to this debacle instead at some point

I hate to say this, but that is not entirely out of the question, nor do I put it past our "leaders"

antitrust · Mar 13, 2009

Quote from spike500:

I'm surprised it took so long. There is not a single country in the world where the car industry is collapsing as it is in the US or where housing is being hit that hard.

you really think the us auto makers are the only one suffering.

http://www.thetruthaboutcars.com/its-true-toyota-asks-japanese-government-backed-bank-for-2b/

http://www.autoblog.com/2009/03/04/honda-may-follow-toyotas-lead-ask-japanese-govt-for-aid/

the popular belief that Toyota never received any help to become the biggest automaker is also wrong, but keep believing it

http://www.washingtonpost.com/wp-srv/style/longterm/books/chap1/badsamaritans.htm

ByLoSellHi · Mar 13, 2009

Quote from Sponger:

Bylowsellhi,

Just to clarify for everyone, the comments about wanting assurances on U.S. debt are old news....the initial remarks were made over a month ago, back in early February. So this is not something new. Don't want people to think this is shocking at this point.

- Sponger

Sponger, he just made the comments on China's Friday.

Peace.

Chinaâs Leader Says He Is âWorriedâ Over U.S. Treasuries

By MICHAEL WINES and KEITH BRADSHER
Published: March 13, 2009

BEIJING â The Chinese prime minister, Wen Jiabao, expressed unusually blunt concern on Friday about the safety of Chinaâs $1 trillion investment in American government debt, the worldâs largest such holding, and urged the Obama administration to provide assurances that the securities would maintain their value in the face of a global financial crisis....

http://www.nytimes.com/2009/03/14/world/asia/14china.html?_r=1&hp

PitchBlack · Mar 13, 2009

That's not what i said.
I said :There is not a single country in the world where the car industry is collapsing as it is in the US.

In the US the big three are virtually bankrupt. That is not the case with other caremakers.

If your proud is so big that you use any excuse to wave away your failure or weakness, you will be hit very hard when you wake up and have to face reality.

I said months ago that the US is no longer the promised land and that it will turn into a economical graveyard. I was told that i was not realistic. Since then millions of americans lost their job, their homes and several big companies in the financial sector were wiped out completely.

The only thing that helps is to face reality and act in an appropriate way. Waving with the american flag and saying patriotic things will not change the economical situation.

Quote from antitrust:

you really think the us auto makers are the only one suffering.

Random.Capital · Mar 13, 2009

Quote from libertad:

What the politicos do not or do not care to realize is that there should really be some question as to where several $trillion is really going to come from....

People are assuming - and you can see this all over ET with the rampant inflationism of many posters - that the Fed can simply print whatever it wants because the debt happens to be denominated in USD.

I do not agree with this view and believe your question deserves more serious consideration.

stock_trad3r · Mar 13, 2009

Quote from ByLoSellHi:

Never before has an official head of state or anyone near that level publicly questioned the very integrity and soundness of U.S. Treasuries.

The importance of this can't be overstated.

It's a shot across the bow and a direct, provocative measure of historically unprecedented example.

lol but the market is flat..

not a big deal

The Chinese have a surplus. They need somewhere to park the money.

MohdSalleh · Mar 13, 2009

Quote from Sponger:

I hate to say this, but that is not entirely out of the question, nor do I put it past our "leaders"

war with china?? it will be a disaster for USA, we certainly cannot hope to win:eek:

stock_trad3r · Mar 13, 2009

market surging off lows

this story is a huuuge dud

NEXT!