Progressive Programmer

Progressive Politics or idle geek banter. What's on my mind when I'm irked, intrigued, bored or up too late.

Location: Michigan, United States


Of China and Inflation

I recently heard tell of W. doing some "sabre rattling" at the Chinese. Insisting that they cease to keep the Yuan pegged to the dollar.

I have also heard tell of a slowing interest from abroad in funding the US deficits by buying government securities. George W. wants your great-grandchildren to pay off his share of the debt after he and his have socked their money permanently behind a wall made possible by an abolished estate tax).

What I had not heard is that the US Government might be printing $20 billion a month to help make up the difference. Jerome a Paris has put together a lengthy post and references several other commenters, but the thing that really gives me the oh-shits is
Put simply, he says that the Treasury Dept. has cooked the books to the tune of at least 60 billion dollars, and that such manipulation puts in doubt all the slightly reassuring numbers that have come in recent months on the foreing<sic> debt holdings front - i.e. the apparent willingness of foreign central banks and investors to keep on buying US Treasuries and fund the US current account deficit and consumer binge.

Hmm. Republicans sure are good at maintaining that whole economy thing aren't they? Explain to me again why it is rich, fat-cat republicans vote for these schmucks? Oh, I remember, because of tax cuts and corporate handouts and America's pathetic ability to see the long-term.

Wasn't Bush calling himself the first MBA President back in 2000? What a doofus. He couldn't run a 2 bit oil outfit anywhere but into the ground, not sure what Republicans thought he would do differently when they elected him had the supreme court appoint him.

I'm not liberal, I'm just paying attention


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