Category Archives: Economy

Dollar-denominated risk assets, including asset-backed securities and corporates, are no longer wanted at the State Administration of Foreign Exchange (SAFE), nor at China’s large commercial banks. The Chinese government has ordered its reserve managers to divest itself of riskier securities and hold only Treasuries and US agency debt with an implicit or explicit government guarantee. This already has been communicated to American securities dealers, according to market participants with direct knowledge of the events. Read more …

UPDATE: Is this connected?

UPDATEx2: JAPAN Is Now Largest Holder of U.S. Debt
China threatened to dump US debt this week over the sale of $6.4 billion of American weapons to Taiwan. But, it looks like it’s already started. In December China dumped $34.2 billion in US treasuries making Japan the largest holder of US debt.

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Posted in Deficit, Economy

Tagged Politics, Transparency, Truth

Entering The GOP At Ground Level

Posted on February 16, 2010 | Leave a comment

I don’t think we needed the LA Times to tell us, but nevertheless – okay.

‘Tea party’ activists filter into GOP at ground level
The conservative movement is urging its members to seek positions as Republican precinct representatives. Their goal is to remake the party – and U.S. politics – from within.

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Posted in Constitution, Deficit, Economy, Ethics, National Defense, National Security, Politics, Rights

Tagged Freedom, Jobs, Profit, Truth

Dems Cost US $2.36T in Lost Oil Money

Posted on February 16, 2010 | 1 comment

“No Profit for US in Oil.” Is that the new (or not) battle cry for the Democrats?

But they raised the debt ceiling by how much?? They willingly spent just one-third (so far) of the $787B Stimulus package so far. Where did that one-third go? And what about the rest since they can’t stop talking about a second (no, that’s a Jobs bill)?

I could go on. But I am sure you get the point. Congress and the Administration have very little, if any, math and budget skills.

Since they won’t listen to us, we have to turn them out.

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Posted in Corruption, Deficit, Economy, Energy, Ethics

Tagged Control, Fraud, Incompetence, Jobs, Profit, Transparency, Truth, Unemployment

Video: The Gall To Lecture Us

Posted on February 13, 2010 | Leave a comment

Today, Barack Obama had the gall to lecture America on politicians who, “Talk the talk but won’t walk the walk on fiscal responsibility.”

The height of hypocrisy.

In the meantime, I must manage my monthly budget frugally to ensure I can pay the monthly bills as well as plan (set aside unspent funds) for future, necessary bills and expenses.

Why doesn’t The President and Congress get that?

Probably because the POTUS now blames Bush (again) for his $1.3T deficit (that we know was created by the overspending POTUS). Sheesh.

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Posted in Corruption, Deficit, Economy, Ethics

Tagged Fraud, Incompetence, Transparency

ACORN Eligible For $4B in 2011 Budget

Posted on February 13, 2010 | 1 comment

And we thought that problem was solved. Guess again.

To add to the list of outrageous earmarks in Obama’s fiscal 2011 budget, it appears left-wing activist groups including ACORN, the embezzlement-prone, voter-registration-fraud-plagued community organizing group, are eligible to receive up to $3.99 billion in taxpayer-backed slush money.

The rest of it …

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Posted in Corruption, Deficit, Economy, Ethics

Tagged Fraud, Incompetence