tag:blogger.com,1999:blog-2761684730989137546.post1981904251880344632..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: Too many assets are not our problemmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2761684730989137546.post-59981394864200332072009-02-18T13:32:00.000-05:002009-02-18T13:32:00.000-05:00No, China does not "need" to buy our debt, you kno...No, China does not "need" to buy our debt, you know that. China accumulates dollars as a consequence of exporting to the U.S. Those dollar reserves are then swapped for an interest bearing account known as a Treasury. The money to buy gov't securities and pay taxes comes from government spending. China's "funding" of the U.S. is a non sequitur.mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-53855236258193842782009-02-18T01:45:00.000-05:002009-02-18T01:45:00.000-05:00Of course the China-ification of the U$D/U$A is a ...Of course the China-ification of the U$D/U$A is a function of the Kissinger / Bush I / Greenspan / Bush II paradigm ??<BR/><BR/>Do we really need China's help to buy our debt ?googleheimhttps://www.blogger.com/profile/14459089745473598235noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-41792128969249936812009-02-18T01:42:00.000-05:002009-02-18T01:42:00.000-05:00Frontline on PBS made their synopsis of the curren...Frontline on PBS made their synopsis of the current meltdown.<BR/><BR/>Here is what they missed, and what we generally picked up here at MNE :<BR/><BR/>1. Frontline did not mention any of the forex swaps the Fed/Treasury used to make money while also stemming worldwide bank collapses.<BR/><BR/>2. Frontline did not mention anything about money sent to the UK and EU banking systems via the unknown money soldiering.<BR/><BR/>Frontline did however show how Geitner was against each allowance of bank failure starting with Bear Stearns & then Lehman while Paulson was for it since he warning Fuld all summer long to get a buyer, etc.<BR/><BR/>During the times of spheres of influence, Europe cut up China into their respective dens of opiated colonization.<BR/><BR/>It is not unlikely that China was re-expressing their historical oppression by taking advantage of the U$A.<BR/><BR/>China purposefully devalues it's Yuan so it can mega profit in the U$A with U$D while reinvesting said U$D in the U$A so that the golden goose continues to produce.<BR/><BR/>They are not truly saving in their own denomination, so the China-ification of America is part of the current financial fiascos.googleheimhttps://www.blogger.com/profile/14459089745473598235noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-42003609572950880372009-02-17T11:21:00.000-05:002009-02-17T11:21:00.000-05:00Why was only $50 billion of the current spending b...Why was only $50 billion of the current spending bill of $800 billion allotted and earmarked for stemming home owner foreclosures ?<BR/><BR/>If that is gauged correctly, then the so-called liars who got loans ( for some reason THE prime focus of Bizradio hosts Lucia, Walmsley, Cofall )are only 50/800 = 5/80 = less than 10% of the solution addressed to fix the problems. <BR/><BR/>Again, according to puritan ( and destructive ) free marketeers the market should have been able to clean the home loan problems.<BR/><BR/>It's the leverage chain comprised of the mortgage companies, banks, and the financial instruments leveraged 30:1.googleheimhttps://www.blogger.com/profile/14459089745473598235noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-90916527525357878532009-02-17T11:13:00.000-05:002009-02-17T11:13:00.000-05:00RE: CaliforniaIf they shut down California, then t...RE: California<BR/><BR/>If they shut down California, then there could be a panic and real bank holidays as well.<BR/><BR/>What would the result of that be ?googleheimhttps://www.blogger.com/profile/14459089745473598235noreply@blogger.com