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China Announces More than $200 Billion in New Spending Plan, Concerned About Financing U.S. Debt
Speaking at his annual press conference Friday, Chinese Premier Wen Jiabao announced more than $200 billion of new spending to bolster the nation’s flagging economy. However, Wen also voiced concern about China’s financing of U.S. debt – which U.S. President Barack Obama is counting on to fund this country’s massive stimulus plan.
Wen’s new stimulus outline will raise the old-age pension for retired workers, boost the salaries of 12 million teachers, increase farmers’ income and provide more subsidies for them.
China will also cut taxes by $88 billion (600 billion yuan) and spend $124 billion (850 billion yuan) to reform reform the…
16Mar2009 | Money Morning | 0 comments | ContinuedDoom and Gloom, Get it Straight!
"There will, before long (my best guess is between two and five years from now) be a global dumping of US dollar assets, including US government assets. Old habits die hard. The US dollar and US Treasury bills and bonds are still viewed as a safe haven by many. But learning takes place." -Telegraph 1/6/09
That quote comes courtesy of Professor Willem Buiter of the London School of Economics. As you know, little comes from the world of academic economics that I agree with. We have an exception here although Professor Buiter and I disagree on how we’ll get there.
The "dollar…
8Jan2009 | Oxbury Research | 0 comments | ContinuedGood Grief
The world keeps turning and the resources get used up. It’s really quite simple.
Despite that fact, the debates rage over Peak Oil, Peak Food and peak everything else. It’s about as sensible as rearranging deck chairs on the Titanic. So the “experts†continue to debate whether or not resources are running low. But the evidence is pretty clear, at least to this trader.
In the past year, we have seen the oil and agriculture markets explode. And this could be just the beginning of the rally, not the end, as some would have you believe. Personally, I think we are about halfway…
8Jun2008 | Whiskey and Gunpowder | Comments Off | Continued
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