Tim Geithner is a joke in China, too
Tax cheat Treasury Secretary Tim Geithner is a laughingstock in Congress. A permanent punchline on late-night TV. And he’s a joke in China, too:
U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency.
A major goal of Geithner’s maiden visit to China as Treasury chief is to allay concerns that Washington’s bulging budget deficit and ultra-loose monetary policy will fan inflation, undermining both the dollar and U.S. bonds.
China is the biggest foreign owner of U.S. Treasury bonds. U.S. data shows that it held $768 billion in Treasuries as of March, but some analysts believe China’s total U.S. dollar-denominated investments could be twice as high.
“Chinese assets are very safe,” Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.
His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home.
Last week, I recommended these baby kneepads for Geithner as he grovels to the Commie regime to keep America afloat.
Looks like he needs a Thudguard helmet as well.
How do you say “snort-worthy” in Mandarin?
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Trackbacks
- The Chi-coms Have Idelogy Down Pat « Tarpon’s Swamp
- Geithner A Laughing Stock At Peking University : The American Pundit
- Hillbuzz: Start of the Obama Depression « Temple of Mut
- Even the Chinese laugh at tax cheat Geithner | Fire Andrea Mitchell!
- Obamarama! Let’s enjoy Barack’s gaffes, mistakes, blunders and the other stupid stuff in his first 100 days – and beyond « Jim Blazsik
- Gazzer’s Gabfest » Geithner “I’ll be here all week…remember to tip your waitress”
- Chinese Students Laugh at Geithner | The Great Illuminator
- Rush Limbaugh Transcript: Tim Geithner Audaciously Blames Average Americans for Obama’s Overspending, Bailouts, & Recession « Frugal Café Blog Zone
- Sen. Jim DeMint Wants Geithner to Explain ‘Exit Strategy’ to Trillion-Dollar Bailouts « Frugal Café Blog Zone
- Jeremiah Films
- America’s Economy Needs to Find Its Bottom before Regaining Sobriety – Obama – The BOPAC Report « “The BOPAC Report” & Larry Sinclair’s Allegations – ZachJonesIsHome
- Steynian 360 « Free Canuckistan!
- Tim Geithner, Class Clown « Rantings of mine
- Economic Notes (Rapid-Fire Edition) « 36 Chambers – The Legendary Journeys: Execution to the max!
- Megyn Kelly Educates Bernie Sanders on the Cost of Nationalized Healthcare | The Mystical Pen (sdg)
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Categories: Tim Geithner
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The Chinese can’t trust our WORD anymore and I wouldn’t either. Our federal government and treasury are a joke and they think that they can manage healthcare without it being a complete disaster?
How completely doormat-like do liberals need to be to understand that, in the end, they’re irrevocably changing capitalism on its head? Do they actually think that, after managing the military TRICARE system, that its civilian system will be any better? I think it’s time for America to freaking wake up already.
The Chinese would never dare laugh at their leadership but they openly mock our “representatives” (Certainly not representative of me but definitely NOT my leaders) because they know that they are lying through their teeth. In all likelihood, the only thing our “representatives” are not lying about is giving a bunch of “troubled assets” (In the form of real estate and mortgages if I am not mistaken?) to the Chinese to secure those loans and keep whatever money they can coming in.
Dang I hope I am wrong but …
I am still torqued that I haven’t been able to use my TAX CHEAT rubber stamp yet. Haven’t seen a single bill with Timmy’s name on it.