Beijing is lowering the Boom on Obama’s Massively Failing Economic Policies and they are not mincing words… and they happen to be correct.
A Chinese Global Economic ‘Teaching Moment’ for the Presidential Economist-In-Chief, Barack “I’m all that and a bag of chips” Obama:
Updated November 15, 2009
Regulator says U.S. policy puts global recovery at risk as Obama arrives in Beijing.
BEIJING — China’s top banking regulator issued a sharp critique of U.S. financial management only hours before President Barack Obama commenced his first visit to the Asian giant, highlighting economic and trade tensions that threaten to overshadow the trip.
Liu Mingkang, chairman of the China Banking Regulatory Commission, said that a weak U.S. dollar and low U.S. interest rates had led to “massive speculation” that was inflating asset bubbles around the world. It has created “unavoidable risks for the recovery of the global economy, especially emerging economies,” Liu said.
The situation is “seriously impacting global asset prices and encouraging speculation in stock and property markets.”
His comments signaled that Obama — on the third leg of a four-country Asian tour — can expect blunt talk from Chinese leaders on the economy. The issue could complicate his broad agenda in China that also includes efforts to extract new commitments on climate change and to encourage them to take a more active role to defuse nuclear threats in Iran and North Korea.
Before heading to China, Obama underscored the urgency of his agenda on Iran by joining Russian President Dmitry Medvedev in warning Tehran that “we are now running out of time.”
The trip has already had some hiccups. Wrangling between the administration and Beijing over Obama’s town hall meeting with university students in Shanghai on Monday was intense, with China wanting to screen the audience and its questions, and the U.S. wanting a freer exchange.
What will be interesting to watch is the Lame Stream Media try to bury and/or spin this… no doubt some wil characterize it as Racist! hahaha
As the world turns… so does the Socialist Spin on reality.
The good news is… tens of thousands each day are giving up Socialist Koolaide as they see their personal futures turn from potential prosperity into a struggle merely to survive under Socialism/Marxism; a hallmark of the Obama Administration.
Thus, the new generation is getting an education the hard way… ahh well, that lessons learned by putting hands on hot stoves are painful to both life’s students and the wise who also suffer from the inexperience of young voters… the lessons being learned are learned deeply and not forgotten.
Thank You Obama, for the ‘teaching moments’ for this new generation. You can go now… you are dismissed.