Obama to China: Don't Worry, Be Happy By Karim Bardeesy, March 14, 2009 Today's Business Press Has U.S. overconsumption gone too far? We've already seen the effects in the domestic stock markets, and it might be starting to manifest itself in the international money markets too. The New York Times' cover follows an early morning story from Friday with more details about Chinese Premier Wen Jiabao's concerns with U.S. consumption and debt levels. "To be honest, I am definitely a little worried," Wen said in a news conference at the end of the Chinese parliament's annual session. It was the highest level warning yet from the Chinese government, and the Wall Street Journal writes that "the premier's comments were unusually pointed and raised the possibility that Beijing's appetite for U.S. debt could wane. ... In the worst-case scenario, a significant new aversion to U.S. investments could drive down the dollar and drive up interest rates, worsening the U.S. recession." The Washington Post finds Eswar Prasad of the Brookings Institution to interpret the remarks. "These comments are saber-rattling in the sense that they are using that leverage to tell the U.S. to back off on currency policy and trade policy."
http://tbm.thebigmoney.com/features/todays-business-press/2009/03/14/obama-china-dont-worry-be-happy ##### Don't Worry, Be Happy Obama gives the markets the back of his hand. Weekly Standard ^ | 3/3/09 | William Kristol So the stock market drops over 25 percent since Election Day, almost 20 percent since Inauguration--and Barack Obama tells the American people at his press conference Tuesday not to "spend all your time worrying about that": http://www.freerepublic.com/focus/f-news/2200440/posts http://www.weeklystandard.com/Content/Public/Articles/000%5C000%5C016%5C226gebyy.asp ###### Chinese Investment in the U.S. 03/14/2009 | viewer Call-In | 29 minutes video: http://www.c-spanarchives.org/library/index.php?main_page=product_video_info&products_id=284636-6 Patrick Mulloy spoke about the amount of U.S. Treasuries held by China in light of statements by China's Premier over concerns about the stability of those t-bills. === Chinese Premier News Conference 03/12/2009 Beijing, (China) video: http://www.c-spanarchives.org/library/index.php?main_page=product_video_info&products_id=284599-1 ###### Obama Administration Economic Program video: http://www.c-spanarchives.org/library/index.php?main_page=product_video_info&producid=284620ts_-1 Lawrence Summers talked about the Obama administration's economic program and the prospects for the American economy. ID: 284620-1 Speech 03/13/2009 1 hour, 10 minutes http://www.c-spanarchives.org/library/index.php?main_page=basic_search&query=Lawrence+Summers+ ------ Democrats have narrowed to two choices: NY Fed. Chairman Timothy Geithner (left) or former Clinton Treasury Sec. Lawrence Summers (right). Photo: Composite image by Politico.com http://www.politico.com/news/stories/1108/15391.html --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "ShadowGovernment" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/ShadowGovernment -~----------~----~----~----~------~----~------~--~---
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