Wen Jiabao warns Obama to keep deficit to "appropriate size" [NotSoBreaking]

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Wen Jiabao warns Obama to keep deficit to "appropriate size" in forum [NotSoBreaking]

Delphis
Posts: 281
Incept: 2009-06-04

Washington

http://finance.yahoo.com/tech-ticker/art....

Right before Obama boards the plane, classic!

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"Two things are infinite: the universe and human stupidity; and I'm not sure about the universe."....Albert Einstein

2009-11-09 14:50:25
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Lowbeyond
Posts: 8315
Incept: 2008-02-11
Silver

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Maybe it was a birdy bread-bomber from the future?!

2009-11-09 14:58:39
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Rubicon
Posts: 2169
Incept: 2008-02-24
Gold

Indianapolis

Who's your DADDY!

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Our government is the potent, the omnipresent teacher. For good or ill, it teaches the whole people by its example.
Louis D. Brandeis
Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin slitting throats. H.L. Mencken

2009-11-09 15:01:32
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Phirang
Posts: 9858
Incept: 2008-10-25
Gold

Flogging a "little person"

I CALL BULL****: The PBoC is far more hollow than the Fed.

This is a trade negotiation tactic.

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I'm not special, and I am not likely to accomplish anything extraordinary in my life. If you are reading this comment, the case is most likely that neither will you. http://www.cracked.com/article_18544_how-the-karate-kid-ruined-modern-world.html

2009-11-09 15:02:28
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Delphis
Posts: 281
Incept: 2009-06-04

Washington

Pucker factor...11!

Waiting to see the spin factor...how will they make this a green shoot...wait they already have!

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"Two things are infinite: the universe and human stupidity; and I'm not sure about the universe."....Albert Einstein

2009-11-09 15:03:23
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Sponsored Ad

Delphis
Posts: 281
Incept: 2009-06-04

Washington

Not seeing this on any MSM, not surprising!

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"Two things are infinite: the universe and human stupidity; and I'm not sure about the universe."....Albert Einstein

Last modified: 2009-11-09 15:06:13 by delphis

Reason: Duplicate

2009-11-09 15:04:40
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Diehard
Posts: 282
Incept: 2008-01-29
Silver

Northern Virginia

The fact of his saying so openly means the opposite in what China is going to do.

2009-11-09 15:06:38
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Watermelon
Posts: 711
Incept: 2007-12-23
Green

a toothless tiger?

2009-11-09 15:47:33
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Netpounder
Posts: 1595
Incept: 2008-02-25
Gold

The greatest nation. Donation/USA.

When a Chinese driver confronts an arrogant black man crossing the street with a red light, what do you think the outcome is?

2009-11-09 16:11:34
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Creditcalmass
Posts: 1214
Incept: 2008-06-04

4 train, NY
Online

Net, nothingburger. Without China's debt purchases the US gov't cannot operate as presently constituted, without US consumpion China's export economy cannot operate as presently constituted. The relationship is NOT sustainable though, and IMO, will end with a trade and shooting war on a massive scale.

2009-11-09 16:14:20
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Ark
Posts: 701
Incept: 2009-07-10

Well, no matter the outcome, it's fun watching Wen lecture Obama.

2009-11-09 16:18:31
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Sponsored Ad

Delphis
Posts: 281
Incept: 2009-06-04

Washington

More than likely a disclosure issue for all to see...

Camera pans in on the future at the moment China floods the market with T's...Wen's smug state run news conference is broadcast with the phrase "they did not heed our many warnings..."

Prejustified financial slaughter...just stacking wood!

Surprised KD isn't chiming in on this one?

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"Two things are infinite: the universe and human stupidity; and I'm not sure about the universe."....Albert Einstein

2009-11-09 16:35:12
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Waverider
Posts: 2785
Incept: 2007-12-23

Chicago

More hot air farting from Wen. Natural outcome of eating pig anus, crocodile and wild snake - Chinese delicacies - from Cantong.

2009-11-09 23:59:44
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Myhairsonfire
Posts: 55
Incept: 2009-05-31

da po' house

Economically, it might not make sense. However, from my experience in dealing with China and traveling there, with both the government and the people individually, you need to understand the concept of "face". It is permissible to tell someone what you want to hear to appease you in a business transaction, whether or not it is the truth. That's called face. It differs from what we call "saving face" in America. We would concentrate on results to "save face" if a transaction was not going well. In China, it's not considered a character flaw to tell you what you want to hear to keep you happy and in line, regardless of what they know the final outcome may be. But they would never tell you what you don't want to hear unless there was a very good reason for it. Because if you are not pleased, that's like losing face. Doesn't make much sense to a western mind. Makes perfect sense to a Chinese man or woman. When China begins telling you what you do not want to hear, it's pretty much past the "this may be an issue" phase. It is an issue, and we just had a shot fired over our bow. I understand the skepticism from those here who I am sure have more economic knowledge than I. However, from a cultural and societal standpoint, I wouldn't dismiss this threat out of hand... Just my .02

2009-11-10 00:20:51
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Mtgspy
Posts: 6202
Incept: 2007-10-27
Green

the appropriate size can mean anything. It could be that Wen thinks Obama has not spent nearly enough. I am leaning towards that, as always.

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I'll stay away from this one, I'll instead grab my smiley

and watch the pretty fireworks. - Karl
Safety is the greatest risk of all, because safety leaves no room for miracles and miracles are the only sure thing in life. - A random black supporting actor.
We iz all gonna diiiiiieeeeeeee. - Raingod

2009-11-10 00:41:03
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Dashingdwl
Posts: 4841
Incept: 2007-06-26
Gold

los angeles
Online

Mtgspy, I had the same thought: there are two ways to interpret what Wen is saying.

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Think Green Tip.
"Thanks to the action we have taken a 2nd Great Depression is no longer a possibility..."
President Obama

2009-11-10 00:43:24
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Moroni
Posts: 2182
Incept: 2008-12-03

New York, NY
Suspended

What Wen really meant to say is "Damn it, Barry! You're making it harder for us to maintain the RMB/USD peg!!!"

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"Those institutions and individuals who insist upon clinging to the dying past will wither with it. Those who understand the death process will not mourn the passing of the old,
but instead celebrate the birth of the new paradigm." - Gerald Celente, Trends Journal Q12010, Page 20

2009-11-10 00:51:38
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Jr429
Posts: 542
Incept: 2008-01-28

Bay Area, Cali

Myhairisonfire - Sorry not really, Chinese just don't like to rock the boat - they'll keep bitching at Obama when they think there's still hope to correct things. When there's no hope and China has decoupled from the US, they won't say **** and pretend to play nice while they slowly back away...

I'm in the same situation with one of my suppliers right now... They are totally screwing me and as of last week I was bitching at them everyday trying to salvage the situation. Now I'm very nice to them because as of last week I have found a new supplier and just want to keep things cool... Hey I will still see them at trade shows right?

Last modified: 2009-11-10 03:42:12 by jr429

2009-11-10 03:41:20
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Jonathanr
Posts: 2082
Incept: 2008-05-16
Gold

Melbourne, Australia

Moroni wrote..

What Wen really meant to say is "Damn it, Barry! You're making it harder for us to maintain the RMB/USD peg!!!"

An interesting point, that. This could be the trade equivalent of so-called sending the USSR bankrupt. Sure, if the Chinese ceased buying USTs, Maobama would find his finances in a mess, but in the mean time, the Chinese economy is overheating - setting it up for a big speculative bust.

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Are we wise in allowing the commerce of this country to rise beyond the point at which we can long maintain it?
William Stanley Jevons

2009-11-10 05:47:38
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J0nx
Posts: 1872
Incept: 2008-08-12
Silver

The trashcan of the nation

Wen Jiabao? Sounds like a Jedi master's name.

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What has been will be again,
What has been done will be done again;
There is nothing new under the sun. - Ecclesiastes 1:9

2009-11-10 08:51:46
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Coolhandluke
Posts: 6216
Incept: 2007-12-19
Green

Banned

Quote:

When there's no hope and China has decoupled from the US, they won't say **** and pretend to play nice while they slowly back away...

It will be like a financial Pearl Harbor. Nicey nice to our face while the planes are already in the air.......

2009-11-10 08:57:23
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