China's Wen urges U.S. to keep deficit at 'appropriate size' »
Posted By gbudavid 1 week, 5 days ago in Business & Finance
SAN FRANCISCO (MarketWatch) -- Chinese Premier Wen Jiabao on Sunday exhorted the U.S. to keep its deficit in control to stabilize the U.S. dollar exchange-rate, according to media reports.
China is the largest foreign holder of U.S. Treasurys.
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maidi66Comment removed: Hard Banned
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canadianrancher571 week, 5 days ago
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It's really not hard to understand the logic of the Chinese about this, If you own a whole lot of nothing you basically own nothing. I would also say that their concern over government spending is justified, but I would just in my opinion have to take the time line back to more than just the month of March. The federal Reserve and the American governments, on all levels, have not been financially responsible for many years, they have tried in many ways to support an economy and a standard of living by pushing ever increasing amounts of money into the system, they have also altered rules regarding borrowing and investments to create a situation where bubbles are always being created which ends up in problems for the economy.
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I have the feeling that the future will be a bleak one but I also have the feeling that politicians from both sides don't have the balls to try and change it, I will admit that the Republicans have vote against the health care idea but I'm sure that there would have been spending programs if they had remained in power.-
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Leemck021 week, 4 days ago
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Worst Canadianranccher57, we would have continued with the "Republicans in the Loop" raiding the national treasury transferring our tax dollars to private accounts through sole source contract and the "Friend & Family" plan doing business in a way that enrich each other at the top of "club conservative". We would still have "Trickle Down" economics which is a false image of a "Free Market" and a hijacking of our economy. Bush left office wanting a bailout to get the very last dollar he could. It was the restrictions that congress held over the main expenditure for the next administration . . . remember?
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Leemck021 week, 4 days ago
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At lest with a spending program the money is in the dynamics of the public, efficiently or not. With the TAX CUT fraud it is pure wealth accumulation in the rich people's accounts who are connected.
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Don't forget the corruption, remember K-Street or the scandal with Arab money involving "W" and Tony Blair which barely hit the major news. How about Cheney and the uranium that he was a accused of stealing from Nigeria and selling?
Not spending, but pocketing.
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Leemck021 week, 4 days ago
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This is a view of the "economic collapse". When the republicans allowed this, meantime constantly claiming "Tax Cuts", when "no-regulation" was good for the best-congress-money-could-buy, that Rubber Stamp Congress with a president and VP who were Deciders inflicted this dependency. Don't forget the Middle East investors who's money these republican have in their accounts that are likely the of the same opinion. When did the SEC call fowl on these practices or the congressional oversight sources. Where was Rush and the Boys? Yes, the Democrats are going to have to deal with these folk like they own us. Ask when is spending investing? When Democratic and "Republican" governors and local officials turn from being phonies with that stupid by-line of "tax cuts" to wealth creators. Show spending that create wealth and we can in a few years have a surplus and buy our debt back. You can't by it on TAX CUTS.
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canadianrancher571 week, 4 days ago
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I sort of divide the problem in the US economy into two sectors one being socialism and the other being corporatism, right wing governments have always favored corporatism and by doing so they end up taking more money out of the hands of the people, this in turn ends up forcing people to be dependent on government which causes more socialism and growth in government which also ends up taking more money from the people. To me this cycle has been going on for years and has now reached the point that ordinary people are completely beat. The idea that giving tax cuts no longer has any merit since the wealthy really don't invest in the economy, buying stocks or corporate bonds is no longer done to help a corporation expand but is done for one reason and that is actual return.
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beavith11 week, 4 days ago
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philbrick1 week, 4 days ago
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"gov't spending doesn't create wealth, it diverts it from the productive economy, into areas that the gov't makes the call.
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but what do i know?"
Another fan of trickle-down economics. If you think this form of make-the-rich-richer socialism works, you know nothing. -
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fjgalt1 week, 4 days ago
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"In view of what they hear from the experts, the people cannot be blamed for their ignorance and their helpless confusion. If an average housewife struggles with her incomprehensibly shrinking budget and sees a tycoon in a resplendent limousine, she might well think that just one of his diamond cuff links would solve all her problems. She has no way of knowing that if all the personal luxuries of all the tycoons were expropriated, it would not feed her family—and millions of other, similar families—for one week; and that the entire country would starve on the first morning of the week to follow . . . . How would she know it, if all the voices she hears are telling her that we must soak the rich?
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"No one tells her that higher taxes imposed on the rich (and the semi-rich) will not come out of their consumption expenditures, but out of their investment capital (i.e., their savings); that such taxes will mean less investment, i.e., less production, fewer jobs, higher prices for scarcer goods; and that by the time the rich have to lower their standard of living, hers will be gone, along with her savings and her husband’s job—and no power in the world (no economic power) will be able to revive the dead industries (there will be no such power left)."
“The Inverted Moral Priorities,”
The Ayn Rand Letter, III, 21, 3. -
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insuranceman1 week, 4 days ago
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American citizen urges China to stop importing so many tainted products that have consumed millions of American jobs. American citizen also urges politicians to tackle the massive trade imbalance immediately so that more debt is not needed to sustain millions of families.
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