The Chinese Government Insults Obama
Today Obama’s Secretary of the Treasury, Tim Geithner, made a speech to Beijing University about Obama’s dedication to avoiding inflation and preserving the value of the dollar despite our “need” for massive stimulative spending financed by deficits. He said that China should not worry about the value of the dollar underlying their massive purchases of US debt, because the dollar was sound.
The response in America was a massive rally in all sectors of the stock market. The US rally even included a firming in Treasury bond prices, which had been falling and the yields rising out of fear of inflation from the Obama deficits.
In contrast, the professors and students in Beijing broke out in laughter at the ridiculousness of Geithner’s speech.
It is impossible to overstate the importance of Beijing University laughing openly in the face of a senior US official. To the Chinese, face is everything. For an audience to laugh openly at a senior government official is unthinkable. It is a great insult to Geithner, to Obama, and to America.
And it represents a top level communication of the Chinese government that our government are such fools that it is permissible to insult them/us by laughing in our face in public.
Such an action insulting a Chinese government official would be punished by immediate disappearance and life imprisonment.
The US media suppressed all coverage of Bejing laughing at Geithner/Obama, or the stupidness of the response of the US markets to the same speech.
And that is why America is doomed. China understands that our government policy is laughable, doomed, and worthy of unthinkable direct insults.
The American media and financial world believe that the same speech is cause to buy stocks, bonds and enjoy euphoria.
One nation is inhabited by fools. Guess which one?
Entry filed under: abc news, bailout, bankruptcy, Barack Obama, bias, Blogroll, cbs news, cnn bias, comedy, family, finance, Freddie Mac, New York Times. Tags: bailout, bankruptcy, Barack Obama, China, CRA, demise of America, democrats, depression, economic stimulus, economics, fools in government, international insults, kill the bailout, life, lou dobbs, mortgage bailout, news, politics, tax increase, Tim Geithner.