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Tim Geither Laughed at in China

It kinda has that feeling of when a child tells mommy and daddy "I wont waste my allowance this time" feel to it.

http://www.telegraph.co.uk/finance/f...-are-safe.html

Quote:

Geithner insists Chinese dollar assets are safe
US Treasury Secretary Tim Geithner was laughed at by an audience of Chinese students after insisting that China's US assets are safe.

By Edmund Conway
Last Updated: 8:03PM BST 01 Jun 2009

In his first official visit to China since becoming Treasury Secretary, Mr Geithner told politicians and academics in Beijing that he still supports a strong US dollar, and insisted that the trillions of dollars of Chinese investments would not be unduly damaged by the economic crisis. Speaking at Peking University, Mr Geithner said: "Chinese assets are very safe."

The comment provoked loud laughter from the audience of students. There are growing fears over the size and sustainability of the US budget deficit, which is set to rise to almost 13pc of GDP this year as the world's biggest economy fights off recession. The US is reliant on China to buy many of the government bonds it is planning to issue but Beijing's policymakers have expressed concern about the strength of the dollar and the value of their investments.

However Chinese Vice Premier Wang Qishan said that the two countries were working closely together to fight the economic crisis.

:1orglaugh:1orglaugh

lol

the chinese arent holding the new dollar anymore, they're spending it as fast as they get it now.

yeah Bush was laughed at all the time, rightfully so, for doing stupid things.

But here Tim is being serious, talking about serious things, and gets laughed at. It is different than laughing at Bush for stupid shit.

Quote:

Originally Posted by IllTestYourGirls (Post 15915296)

That's because with all the bailouts and money printing, the dollar has become as big of a punchline as Bush. Only a matter of time before it starts snowballing in the exchange. Honestly he should be laughed at for it - Obama sounded like China's bitch when he first said that, and Geitner repeating it sounds like...of course, China's bitch! This is what we the supposed superpower of the world have become...fun times.