Confidence Game
Hillary Clinton in Beijing:
"I appreciate greatly the Chinese government's continuing confidence in United States treasuries. I think that's a well-grounded confidence."
For those who have read accounts of previous eras like Galbraith's The Great Crash or Chancellor's Devil Take The Hindmost, some quotes stand out immediately as destined for the history books.
"I appreciate greatly the Chinese government's continuing confidence in United States treasuries. I think that's a well-grounded confidence."
For those who have read accounts of previous eras like Galbraith's The Great Crash or Chancellor's Devil Take The Hindmost, some quotes stand out immediately as destined for the history books.
posted by The Cunning Realist at Saturday, February 21, 2009
6 Comments:
Sure, but are you not worried also about a bubble in gold?
Bear markets such as this are horrible for *everyone*. There is no place to hide. Everyone will lose money. Everyone will suffer.
I still like gold. Gold will go up and down..buy on dips. When the average american starts talking about the money they are making in gold is when i get out...probably into india or brazil...after their markets crashed I almost thought about jumping in. If brazil was a bit less socialist i'd already be in.. But the fact that their political leaders have been moving away from our political leaders give them a brighter future.
Hillary doesn't really know what she is saying. It's a pro forma sort of jabber. I am not making an indictment. It's comes from the world she has lived in and been successful in.
If she know actually knew the precarious state of the Treasury and its paper she would be curled up in a little ball scared out of her mind.
Hillary doesn't sound as condecending as Paulson did on his last trip to China. I would love to be a fly on the wall for their private discussions. I think i understand the relationship with the other world powers...Russia,Brazil, India...but China i just don't get.
HRC isn's supposed to know jackshit. It's not why she was hired. She was hired because she's a celebrity. Meritocracy, right?
"Devil Take The Hindmost" was a terrific book. But I suspect that historians of the current situation will have an embarrassment of riches: When you lump together the biz press, the real estate hype, speeches of the geniuses running the financial system, you're going to find gigabytes of sunny cluelessness and obtuseness. Just which blithely idiotic remark are you going to cite, out of the millions available?
-- sglover
I love story books and good things that would be saved on a big record like, when countries help each other like true brothers... but situations like this, there will always be some interests between...
Thanks
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