Posted on 03/14/2009 4:22:18 PM PDT by LibWhacker
President Seeks to Reassures Jittery Markets, Investors After China Premier's Remarks
Investors should have "absolute confidence" in money placed with the United States, President Barack Obama said during an appearance with Brazilian President Luiz Inacio Lula da Silva at the White House today. Obama and Lula da Silva held a private meeting for more than an hour before taking questions from reporters.
Obama was asked about Chinese Prime Minister Wen Jiabao's expression of concern Friday that the Chinese investment of approximately $1 trillion in U.S. Treasury bills could be losing value.
"I think that not just the Chinese government, but every investor can have absolute confidence in the soundness of investments in the United States, and that it is not just in U.S.-issued Treasury notes but also in the private sector and the commerce and the industry that has made this the most dynamic economy in the world," Obama said.
(Excerpt) Read more at abcnews.go.com ...
Not very confidence building when he says one thing and does the opposite.
If he was truly confident
no statement would be necessary
THAT better be true.
Yeah, President Bonehead, and it wasn't massive government spending and regulations that produced that dynamic economy was it?
Idiot.
Let's see if I can pull a Rush here? What he's saying is that his government will perfectly willing to take over industry and commerce in order to support the T-bills.
What do you think?
Sound as a dollar.
Treasuries will be among the safest assets for at least another year...
By golly, I think you got it.
How will this affect student loans, since the interest rates on them are tied to T-bill auctions? I’ve got about 23k I want to consolidate, but am not sure whether to pull the trigger in May, or wait until the end of summer.
The Chinese are not stupid, they are concerned that Turbo Tax Tim and the Fed are going to monetize the currency, just like alot of us are.
Well I read that all HIS money is in tax free municipal bonds. Do as I say....etc.
Exactly what I was thinking. Haven for scared money, right? Never once doubted it until that fool opened his mouth.
I have absolute confidence that we are printing T-bills which have no solid basis behind them. As to a “dynamic economy” dynamic=change. unemployment is dynamic so is bankruptcy. Positive dynamics do not come from the government taking over business. Barney Frank does not know how to run mortgages and Nancy Pelosi does not know how to run the auto industry.
First, where were the tele-prompters?
Second, was it an even or odd hour?
OK, he will have said two different things, both wrong.
If the market were open today, I think we would have seen a 400 point drop.
Or wipe out the wealth of millions of people with a stroke of a pen, and dole it out to millions of his “needy” supporters. Yikes! This man really scares me.
We’ll have fun, fun, fun, till Obama takes our T-Bills away.
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