Geitner wastes no time in PO'ing the Chinese (accountant, wages, employment)

[N.Y.Traveler]

Originally Posted by Sunny-Days90

We need to do something about China. Maybe this will turn things around.

Sure we owe them a ton of money, but how far will America have to drop till we have to start begging them for our own land? They are buying up our land folks with our own money.

We need to find a way to stop them from destroying us with money and goods.

We all know what they are doing and in this case, I think he said the correct thing.

Time to end the game, look around, no more manufacturing jobs, steel mills, textile mills etc left all because we have allowed them to take us over.

Time to make the items we need here and stop the gushing of their products on us.

Want to create millions of new jobs, stop the importing and start the exporting on a EVEN slate.

No more 90% them 10% us trading.

The bums wont even buy our farmers corn. What does that tell you?

Very comedian!
When you stop importing, you are not exporting anything either!
In the good old days, we did not have any national debt. Now, we are borrowing the money that is supposed to be used by our grandsons/daughters.
Almost $1 trillion has been spent on the Iraqi War because of a faulty C.I.A. report. A trillion dollars, just in case you do not know, is about 700 miles long (a $100 bill is about 0.0043 inches thick)!...And going from New York City to Philly is about 110 miles. This kind of money should have been used on energy research rather than fighting for a war that is not necessary!!!!!!

[58robbo]

Originally Posted by Woof

Geithner Warning on Yuan May Renew U.S.-China Tension (Update2)

By Mark Drajem and Rebecca Christie


Jan. 23 (Bloomberg) -- Timothy Geithner’s warning that President Barack Obama believes China is “manipulating” its currency may trigger renewed tensions between two of the world’s three biggest economies.

Geithner, Obama’s nominee for Treasury secretary, also told senators the administration will press China to “adopt a more aggressive stimulus package” to boost its domestic economy. The remarks on manipulation were a shift from President George W. Bush’s team, which stopped short of using the term in criticizing China’s exchange-rate management.

“The signal this sends is not good” for ties between the two nations, said Charles Freeman, a fellow at the Center for Strategic and International Studies and former top trade negotiator for China at the U.S. Trade Representative’s office. “It opens a Pandora’s box. We need the Chinese to hold onto their Treasury and agency debt.” ....... (article continued at Bloomberg.com: Worldwide )

i'm not a fan of the new administration and held equal contempt for the past one. this move however is a positive one imo. opening this can of worms could potentially lead to dialogue about the federal reserve and how it does some manipulating of it's own. we might initially be cooking our own goose but i think that it will have positive long term benefits. can you say 'made in the usa'!

[58robbo]

Originally Posted by Huckleberry3911948

we owe them a lota money. not good.

i agree with you. i've always believed in dealing with issues head on! my wish is that they dump treasuries and force us to face up to our problems and show us just how vulnerable we are! that way we can start to rebuild a healthier america

[harry chickpea]

Confronting China is one of those hard decisions that has to be made. Ever since Nixon and Kissy started the sellout of the U.S. to China to reduce the near-term chances of a nuclear scenario in a Vietnam/Korea mentality, China has been very effectively waging economic war on the U.S.. The manipulation of the currency, the literal exportation of the machines we used to make things, the drug dealer-like suckering of the U.S. and its businessmen into a dependence on cheap Chinese made goods that are designed to have a limited lifespan, ALL of this is so clearly an economic war that the only surprise is that most people never realized it in their haze of cheap electronics and clothes.

The comment was made about no more tube socks. Ft. Payne Alabama was until recently the sock capital of the world. It was only in the past decade that the looms and machinery were packed up and shipped to China. The end game for the Chinese is almost upon us, where the drug dealer cuts off supply and starts demanding. If you watched the Olympics, it was hard to miss the message that China has not only the masses of people, but now has the technology to become THE world superpower, crushing the U.S..

We are at a choice point. Either we stand up now and start to reclaim our production or we continue to bleed body fluids under the Chinese steamroller and Globalization. If you turn it into a snarky political flamefest, you are a bloomin' idiot playing right into the hands of those who would sow divisiveness as a tool for eventual domination of a fragmented society. Remember the original U.S. flags, and the strength in unity slogans? They had those for a reason.

You're scared that China is going to get P---ed off because someone calls them on their attempt to take over the world? You might lose a few more bucks in your market bets? Oh gee, oh heck, oh darn. I'm so sorry <NOT!> Flippin' whiners and fearful Franks. Sounds like China exported the balls from the U.S. Some of the fraidy cats must be the idle rich, descended from the apologists for Stalin and Hitler.

[tallrick]

Thanks to the idle rich and their speculation, the startup costs for new businesses skyrocketed. Thanks to unlimited Fed money, government grew so big that is crushed innovators and drove business overseas. If the Fed was cut off, like a vine strangling a tree, people would start innovating as big Government withered away. However, today's heavily regulated marketplace assures domestic failure. It would be fantastic if the Chinese stopped financing our dysfunctional system and concentrate on their own. If we can get our government to shrink it will only be a few years until we would once again be the #1 nation of innovation. Government is the problem not the solution and it needs endless fiat money to deny us our rights.

[Sunny-Days-in-Florida]

Originally Posted by N.Y.Traveler

Very comedian!
When you stop importing, you are not exporting anything either!
In the good old days, we did not have any national debt. Now, we are borrowing the money that is supposed to be used by our grandsons/daughters.
Almost $1 trillion has been spent on the Iraqi War because of a faulty C.I.A. report. A trillion dollars, just in case you do not know, is about 700 miles long (a $100 bill is about 0.0043 inches thick)!...And going from New York City to Philly is about 110 miles. This kind of money should have been used on energy research rather than fighting for a war that is not necessary!!!!!!

I am not being a comedian at all. Facts are facts.

We can no longer survive with the trade inbalance we have.
They are in total control of us, we will have to bow down to them for everything unless we stop the bleeding.
When you owe someone they OWN YOU and China is taking advantage of it.
The money is not just being spent on Iraq like most people think.
We just sent 23 billion to Israel when we have people here losing their homes and hungry.
You cannot pick and choose who and where the money goes, cut them all off.

Does anyone know of any country that sends us money?

Why are we footing the bill for the UN ( 75% of all the cost we are paying )

Get out of the UN, stop sending any country money and lets put Americans back to work by FORCING a 50/50 trade or no trade at all.

I am not a fan of this new administration but I can see at least he understand he needs to surround himself with people who will call them as they see them and this guy just did.

Re read my post, I did not say stop them all, I said we must trade in an even field or we will lose every time. I also said China will not buy our farmers excess wheat, crops etc. WHY NOT???

By the way, we are not exporting to much of anything in case you did not know.

You need to get over the Iraq war thing, time to move on.

Look up the amount of billions we send to other countries yearly. It will make you sick.

[N.Y.Traveler]

Originally Posted by Sunny-Days90

I am not being a comedian at all. Facts are facts.

We can no longer survive with the trade inbalance we have.
They are in total control of us, we will have to bow down to them for everything unless we stop the bleeding.
When you owe someone they OWN YOU and China is taking advantage of it.
The money is not just being spent on Iraq like most people think.
We just sent 23 billion to Israel when we have people here losing their homes and hungry.
You cannot pick and choose who and where the money goes, cut them all off.

Does anyone know of any country that sends us money?

Why are we footing the bill for the UN ( 75% of all the cost we are paying )

Get out of the UN, stop sending any country money and lets put Americans back to work by FORCING a 50/50 trade or no trade at all.

I am not a fan of this new administration but I can see at least he understand he needs to surround himself with people who will call them as they see them and this guy just did.

Re read my post, I did not say stop them all, I said we must trade in an even field or we will lose every time. I also said China will not buy our farmers excess wheat, crops etc. WHY NOT???

By the way, we are not exporting to much of anything in case you did not know.

You need to get over the Iraq war thing, time to move on.

Look up the amount of billions we send to other countries yearly. It will make you sick.

You have failed to mention the oil trade!
Hundred of billion of dollars strong and these figures are far larger than the American-Chinese trade! The Saudi Arabian have been buying the U.S. Treasury as well, and they don't like our policy in Middle East!
When our economy was down, they even low the oil output to the rest of the world just to increase our burden and making our economy going further down South...Remember Bush went to Saudi Arabia last May to beg them to increase the oil output; and they said, "No!" We establish military facilities in Saudi Arabia just to protect their Kingdom. What have we gotten from them? Expensive oil while our economy continued to go down.
Our national deficit has reached $11 trillion and it is about 8000 miles long of $100 bills which is 0.0043 inches thick (only 2800 miles if you go from NYC to L.A. Calif.)! Obama indeed wants to solve our problems but how far you think he could go when the national debt is so huge! I hope I am wrong then! I really hope I am wrong!

[Huckleberry3911948]

you tick them off they will close down walmart. then you'll be sorry.

[58robbo]

Originally Posted by Sunny-Days90

I am not being a comedian at all. Facts are facts.

We can no longer survive with the trade inbalance we have.
They are in total control of us, we will have to bow down to them for everything unless we stop the bleeding.
When you owe someone they OWN YOU and China is taking advantage of it.
The money is not just being spent on Iraq like most people think.
We just sent 23 billion to Israel when we have people here losing their homes and hungry.
You cannot pick and choose who and where the money goes, cut them all off.

Does anyone know of any country that sends us money?

Why are we footing the bill for the UN ( 75% of all the cost we are paying )

Get out of the UN, stop sending any country money and lets put Americans back to work by FORCING a 50/50 trade or no trade at all.

I am not a fan of this new administration but I can see at least he understand he needs to surround himself with people who will call them as they see them and this guy just did.

Re read my post, I did not say stop them all, I said we must trade in an even field or we will lose every time. I also said China will not buy our farmers excess wheat, crops etc. WHY NOT???

By the way, we are not exporting to much of anything in case you did not know.

You need to get over the Iraq war thing, time to move on.

Look up the amount of billions we send to other countries yearly. It will make you sick.

i don't really see the chinese as the evil arch enemy. china is a country with over a billion mouths to feed and obviously they have their own best interests at heart in the same way we have ours.

to my understanding, if china wants to purchase oil from saudi, i believe that they settle in us$. if that is the case, it stands to reason then that they would want as many us$'s in reserve to save for a rainy day. we on the other hand, don't need to save these dollars, we just print them and the rest of the world accepts or else! so yes, china obviously manipulates its currency. we on the other hand force other nations to accept ours (hence tensions with iran and many believe the real reason for the 2nd invasion of iraq)

[58robbo]

Originally Posted by Huckleberry3911948

you tick them off they will close down walmart. then you'll be sorry.

there will be dancing on the streets the day that happens!