Dirty Frenchies
Senior Chinese leaders have privately voiced fear over the soaring US budget deficit and are increasingly looking to diversify from the dollar, a US congressman said on Monday.
‘We heard across the board – in private – substantial, continuing and rising concern,’ Representative Mark Kirk said after a trip to China that included talks with senior officials and central bank chief Zhou Xiaochuan.
‘It’s clear that China would like to diversify from its dollar investments,’ the Republican lawmaker said at the Centre for Strategic and International Studies, a Washington think-tank.
You mean this soaring US budget deficit?
Whoever should we blame for that?
The United States has been running large budget shortfalls since the tenure of president George W. Bush.
Yes, I look at that graph above, and I just think, “George W. Bush, what a maniac!”
AFP neglected to mention the unnamed President responsible for quadrupling the deficit in a single year. Someone named “Obama” was mentioned tangentially twice in the story, but not relating to anything regarding deficits.
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June 9th, 2009 at 2:24 am
Scary chart of the day.
June 9th, 2009 at 6:25 am
MHD sits down with Mark Thornton
of the Mises Institute to discuss his articles on the drug-war and the after effects of the drug-wars: privacy, financial information sharing, etc etc
June 9th, 2009 at 7:23 am
Did anyone hear today (Bloomberg Station) many stock analyst are wondering why the market is doing so well when everything else is dropping off the edge of the Earth. They said it makes no sense. I say—-Sorta like Oak Leaf propping up the economy.
June 9th, 2009 at 9:56 am
The stock market is a complete mystery. It’s like having a brain dead person, turning off the life supports, and the person just keeps on robotically breathing!
Why?
Same thing with this market. With trillions in deficits, funny money galore, and the stock market keeps pulsating and laboriously keeping itself alive by a static showing or slightly heaving upward.
Weird!
June 9th, 2009 at 6:07 pm
Two worst senators still conspiring.
June 9th, 2009 at 8:44 pm
Invalid,
Lindsey doesn’t want her Gimp photos made public.
June 9th, 2009 at 10:52 pm
HR1207 gets its 207th sponsor today.
June 9th, 2009 at 11:50 pm
Jesse Ventura interview from this week.
Kind of interesting.
June 10th, 2009 at 6:55 am
An interesting opinion piece by Authur Laffer in the WSJ. It exhibits little optimism for the current economy.
“At present, banks are doing just what we would expect them to do. They are making new loans and increasing overall bank liabilities (i.e., money). The 12-month growth rate of M1 is now in the 15% range, and close to its highest level in the past half century.
With an increased trust in the overall banking system, the panic demand for money has begun to and should continue to recede. The dramatic drop in output and employment in the U.S. economy will also reduce the demand for money. Reduced demand for money combined with rapid growth in money is a surefire recipe for inflation and higher interest rates. The higher interest rates themselves will also further reduce the demand for money, thereby exacerbating inflationary pressures. It’s a catch-22.”
Get ready for inflation and higher interest rates…making the ’70’s look beign
June 10th, 2009 at 7:18 am
Maybe but the 70’s was a different animal since it was due almost entirely misunderstanding of the Phillips curve. I really hate the comparison since people think this is somehow just a repeat of bad policy when it’s apples to oranges scenarios.
Also the reason gold spiked so high in that era was because the gold market realized that they had no comprehension of the phillips curve so there became a giant future expectation of continued massive inflation since all of their policies just caused more inflation and there seemed to be no political will to ever do anything about it.
Once Volcker demonstrated that he understood that he needed an inflation first policy, the precious metals collapsed HARD not due to an immediate drop in inflation but the realization that the future inflation that could be and was counted on his the past few years and the continued incompetence at dealing with it was no longer in effect.
I think the current situation is a brand new chapter in the adventures of out monetary policy.
June 10th, 2009 at 7:31 am
BTW- I read this is a officially approved interrogation technique approved by Donald Rumsfeld that is called “Walking the Dog”
Here’s a picture of it.
So why did they punish her when she did but not Rumsfeld?
Maybe because he controlled the justice department? I think the reason why they don’t want to release these new photos in probably not because it’s rape and some of the rumors, but because it will show the systemic use of these techniques not lone rangers doing it.
June 10th, 2009 at 8:00 am
Fun interview CBC. click the video.
Arianna Huffington interviews Jim Grant on CNBC.
June 10th, 2009 at 8:44 am
I read this is a officially approved interrogation technique approved by Donald Rumsfeld that is called “Walking the Dog”
Boo Hoo! I’ve seen worse in a Halloween Parade in The Castro District in San Francisco.
June 10th, 2009 at 8:47 am
BCL,
Well they send England to jail for it.
Why did she get punished but not him?
June 10th, 2009 at 10:59 am
wow-15 responses from 4 or 5 people in two days.
The only one rejoicing must be Oak Leaf. He accomplished what he set out to do. Ruin a good conservative site.
June 10th, 2009 at 1:00 pm
Ron Paul interviewed on the Alex Jones show today.
June 10th, 2009 at 1:21 pm
Part 2
June 10th, 2009 at 5:32 pm
June 10th, 2009 at 10:59 am
wow-15 responses from 4 or 5 people in two days.
The only one rejoicing must be Oak Leaf. He accomplished what he set out to do. Ruin a good conservative site.
Well acroso will keep it alive with his self gratifying posts. Occasionally Oak Leaf will run with one and feature it in a thread which will keep acroso motivated, believing that someone actually cares what he (acroso) posts.
Between Oak Leaf and acroso this place will continue to die a slow death and Poli will not notice a thing.
June 11th, 2009 at 4:53 am
Spoon at bejohngalt.com
June 12th, 2009 at 7:44 am
Well acroso will keep it alive with his self gratifying posts. Occasionally Oak Leaf will run with one and feature it in a thread which will keep acroso motivated, believing that someone actually cares what he (acroso) posts.
See Banzai!! thread.
How long before OL comes up with a thread based on acroso’s post?
June 13th, 2009 at 12:27 pm
BCL- you quoted yourself in response to your own post.