Aw...tax-cheat Timmy is welcomed by his former teacher from his days as an expat teenager in Asia.
You should admit that this story makes you happier than anything we have ever printed. And you should also grasp the reality that this admission reveals that you are depraved, saddened creatures reduced to pettiness after months of following the greatest heist in the history of our Republic. It's okay. We've been there for awhile.
At a minimum, it is unnerving to speak to a foreign audience. When that audience follows US economic policy very keenly and happens to be the principal foreign funding source for our staggering national debt, it starts to get dicey. Then add Treasury Secretary Tim Geithner's penchant for spewing bullshit whenever the sun is out and you have a recipe for well...The Best Story Ever.
Simple is good. Geithner is in China trying to sell a few trillion in U.S. Treasuries (translation: he's kissing Wen Jiabao's Totalitarian Ass <anyone remember Tibet?> so we can remain fat and happy in our slothdom of spending and generational rape). He was speaking yesterday to a group of students from Peking University and said: "Chinese [US Dollar] assets are very safe." The room then erupted into "loud laughter in response" according to journalists following the Treas head.
Karma is a bitch, especially in China. Well played, Siddhartha, well played indeed.
See also:
China Warns U.S. On Debt Monetization