China saving too much money: Bush

[ECH1969]

US President George W. Bush said today that he hoped China would transform from a country where people "hoard the money they have" into one where people buy large amounts of US products.

In an interview with conservative radio talk show host Rush Limbaugh, Mr Bush said China should become "a society in which there's consumers. Because now they're a society of too many savers".

"If we can encourage China to become a country of consumers, you can imagine what it would mean for US producers and manufacturers to have access to that market," he said.

http://www.news.com.au/story/0,23599,20687093-1702,00.html

[silverweb]

1. OMG.

:banghead:

[AndyA]

2. Why would people in China pay more for American goods?

Very few things are made in America now, anyway. Why would you drive across town to go to the fish market when you have a well stocked pond in your backyard?

[Deja Q]

17. See post #15.

:(

[RUMMYisFROSTED]

47. See post #46.

:(

[lcordero2]

3. !!!!!

Now that line of reasoning is flawed. There is no such thing as a "US product". NOTHING is manufactured here in the United States.

[RUMMYisFROSTED]

53. See #46.

[raccoon]

64. I think they still make loading pallets in the US. nt

[Double T]

4. Complete Disconnect From Reality..........

it would be funny if it wasn't so unbelievable!

[ender]

5. yes, lets convince a country of buddists,

that they need to become spendthrift consumers.

have fun with that one.

[tk2kewl]

6. IF they weren't so frugal who would you sell yout T-bonds to jackass.

[dethl]

7. Dear *, China used to be massive consumers....

As a result of the http://en.wikipedia.org/wiki/Opium_war">Opium Wars.

China would probably win with sheer numbers if a 3rd Opium War was started.

*, don't even think about it.

[TaleWgnDg]

8. Well, GWBush is correct . . . China IS awash in cash . . .

but then again George Walker Bush doesn't know how the hell to express the obvious very well. Which causes pause as to how this idiot became and remains our Commander-in-Chief and president! What a f****** embarrassment to us and to the world.

[movonne]

9. What products....I think China has that market...what an asshole bush is...

[enid602]

10. trade

China is a country of rabid consumers and consumerism. They are also a NET IMPORTERS. The fact that they don't import much from the US says more about Bush's trade policies (and promotion of US industry and trade) than it does about China's consuer habits.

[muriel_volestrangler]

40. No, they're net exporters

Exports: $752.2 billion
Imports: $631.8 billion

https://www.cia.gov/cia/publications/factbook/geos/ch.html#Econ

[THUNDER HANDS]

11. if they ever make a third Dumb & Dumber movie

Bush can play both parts.

[necso]

12. What's he doing?

His Borat impression?

[lovuian]

13. That was the plan steal from our wages and give to them

but they aren't capitalists they are communists ... Big difference

[Deja Q]

16. Tell that to all the repubs... especially those who are repub and

fought in Vietnam.

They won't be too happy...

[Supersedeas]

14. Send them a Massive On-slaught of Corp Christmas cheer--Santa Claus meet Buddha

[Deja Q]

15. Yeah but the US corporations talk to the Chinese manufacturing plants.

:think:

That's what it's about.

A pity, they get far greater profits out of Americans despit paying us more. If gas is 60 cents/gallon in China and $2.25 here, the same number of drivers in both countries... the math is simple; they'd get bigger profits out of Americans.

[Auggie]

18. Just when I think I can't be surprised anymore by this moron...

[Canuckistanian]

19. Wasn't this a problem they had with Saudi Arabia?

The Saudis were hoarding all of their petro-dollars, so they had to be convinced to buy American fighter jets and invest in American companies.

But China's not playing that game....

[54anickel]

20. Idgit! What the heck is he doing on Limpball anyway? Must be pretty

insecure about the base to have to go on that show. Wouldn't it be preaching to the choir, or more aptly the preacher? Why did he feel the need to take time to chat with Rush?

[JudyM]

21. This is more proof that he has little concern for the environment. nt

[madrchsod]

22. america to george---WE DO NOT MAKE ANYTHING

we don`t make anything since the mid 70`s because our manufacturing is gone south and overseas. this guy has no clue about reality of the working class in the united states...

[SoCalDem]

23. Huh?? We don't "make" much stuff anymore, George

:)

[ckramer]

24. The trade deficit will be erased in a second if we are willing to sell them what they

wanted to buy ---> Military hardware.

Otherwise, let Russians make all their money.

[leesa]

44. Thy make their own now, don't they? They sell to other countries.

[noonwitch]

25. According to Dick Devos (R-China)....

He only opened an Amway plant in China because they will only allow goods made in China to be sold there. Of course, that doesn't explain why he laid off 1000 Michigan workers at the same time he opened the plant in China, but, hey, what can you expect from a guy who's never had to put in an honest day's work in his entire life?

I don't understand why conservative republicans love to invest in China, a country that is known for persecuting christians (and those of any religious faith). I don't want to make money off of China, I consider it blood money, personally.

[ckramer]

26. Bush didn't understand - Americans are wasting lots money on lots of stuff they don't need

too many things can be reused without buying new every so oftenly.

Waste is virtue, shame!

[Sequoia]

27. Hey brainless freak, all our jobs have been shipped to China.

What does Made in China mean to you?

[lumpy]

32. Made in China means that the product will

be defective, like those lamps that were catching on fire, or those toasters that are unusable because the knobs fall off or the elements burn out.... Also means that those products are made with slave labor so US companies can lower their costs and lay off US workers. Unfettered capitalists are just as bad as communists.

[Sequoia]

41. Worse, because they don't want to share.

[DemoTex]

28. Dear China: Please consume, it's the 'Murican way.

Thank you,
George W. (What?-Me Worry?) Bu$h

P.S. Please be afraid, too. That is also the 'Murican way.

[HuffleClaw]

29. MEEP

*snicker snicker*

wow, he's really lost it. what a truly stupid load of malarky. 'hoarding'!

[kurth]

30. Who's financing your Iraq war, Harvard MBA moron?

What a shithead.

[lumpy]

31. OMG is right.

That lamebrain wants China to emulate his own economic program of borrow and spend?
"China should become "a society in which there's consumers. Because now they'er a society of too many savers", he says. Bush is such an economic genius.

[llmart]

67. Not only an economic genius......

but "there's consumers"?????? What wonderful grammar you friggen' idiot. Please go away and stop embarassing the U.S.

[AndyTiedye]

33. What US-Made Products Do We Have to Sell Them?

[VegasWolf]

34. Bullshit. But they don't want to buy any!

:toast:

[karlrschneider]

36. Manufactured hamburgers?

:eyes:

[RUMMYisFROSTED]

46. Treasuries.

:cry:

[AndyTiedye]

50. We're Already Selling Them T-Bills As Fast as We Can Print Them

[RUMMYisFROSTED]

52. What does "T" stand for?

:shrug:

[NYC]

59. Treasury.

T bills = treasury bills.

[RUMMYisFROSTED]

60. See #46.

[AndyTiedye]

61. Treasury

[RUMMYisFROSTED]

65. Yes, I know. See #46.

(I didn't understand your post #50. It seemed redundant.)

[Anakin Skywalker]

48. .

[truthisfreedom]

35. yeah, spread the disease of mindless consumerism. excellent idea, you

nitwit.

[Charlie Brown]

37. WHAT??!!!

This idiot does not seem to be a proponent of personal saving and fiscal restraint. Why do conservatives support this man?

and on Limbaugh, no less.

[sarcasmo]

38. This is one of the most Insane things I have ever heard from a President.

[katty]

39. HA!! What an ass - let's turn China into U.S. !!! what a fool

[MasonJar]

42. Well, stop spending billions in Iraq that the US does not have &

which has to borrowed from the Chinese. Dumbwit.

[Theduckno2]

43. I wonder if George H Bush will comment on Dubya's "Voodoo Economics"?

I laugh and cry at the same time.

What business school did he go to and can we get their accreditation revoked? :rofl:

Rampant consumerism has got us into the pickle we are in George! No, not that "Pickle" George! Never mind!

[Anakin Skywalker]

45. OMFG! If Only Your Joe Six-Pack Would Save!

Where would the bigwig corporatists be? Oh the horror!

[Anakin Skywalker]

49. You Naysayers Are So Wrong!

Some of you here have been saying the U.S.'s got nothing to export to China?

WRONG-O! We still got one thing left. And by God, it is a GLORIOUS thing! It is called McFreedom!
We have exported it to Iraq and we are selling it to them over there, by God! It is a product that is Proudly Made in the (Neo-Con) U.S.A.

Sell it strong and sell it proud, you 'Murkins!

[wordpix]

51. the only one who will take * seriously is RushDrug Addlebrain Limpballs

[xxqqqzme]

54. good lord the earth is groaning under the

weight of US over consumption...can you imagine what would happen if China started consuming @ even 1/2 the rate of the US?

[Gloria]

55. Bush responding to the following????

From the Nov 30 World Media Watch at Buzzflash.com

5//China Daily, China-RESERVES SET TO SURPASS US$1 TRILLION
http://www.chinadaily.com.cn/china/2006-10/30/content_719410.htm


China's foreign exchange reserves look set to hit the US$1 trillion mark at the end of this month or beginning of November. But as the figure rises, so does the debate over how to best manage it. The reserves, already the world's biggest, surged to US$987.9 billion at the end of September, largely driven by a burgeoning foreign trade surplus and massive inflow of foreign direct investment (FDI). "How to manage such a huge reserve is a big challenge," said Yi Xianrong, a research fellow at the Institute of Finance Research under the Chinese Academy of Social Science. "The crux of the problem is that you have to keep the value stable or increasing," Yi said. The ballooning foreign reserves, many economist say, is a major reason behind the loose money supply. This is because the central bank has to issue additional money to mop up the excess US dollars in the market, resulting in excessive liquidity in the banking system. And the fluctuating foreign exchange rate also poses a huge risk, economists say. In a bid to minimize such risks, the central bank should diversify its existing US dollar-dominated foreign reserves structure, and increase its holdings of euros or other major international currencies, said Li Yongsen, a finance professor at Renmin University of China. The central bank, he said, could also buy more state bonds issued by other major economies and decrease holdings of US Treasury bills.

[BadgerKid]

58. Seems like moving USD into Euros

like the oil bourse was talking about doing.

[all.of.me]

56. produce

we could sell them e-coli infested produce.

[wickerwoman]

57. This pisses me off...

Let's ask Mr. Bush why the Chinese like to save...

Maybe it has something to do with 3000 years of famine, war and social unrest. The Chinese know to hold on to what they have and to avoid debt like the plague because it could all be gone tomorrow- a lesson that far too few Americans have bothered to learn.

It's like a five year old lecturing his parents on how to spend money (Candy! Toys!) when they're trying to pay the rent.

[Toots]

62. I have never heard a more anti Conservative statement in my life

"A penny saved is a penny earned" was a mantra when I grew up...

[psychopomp]

63. A conversation between George W Bush and Rush Limbaugh

Why, oh why, must we be subjected to this?

[Lisa]

66. compared to him, EVERYBODY saves "too much" money

Even me. I have $5 in my pocket -- as opposed to Bush's enormous deficit.

[Anakin Skywalker]

69. LOL! Good One!

[Lisa]

70. thanks -- I wonder if * has discovered how to tote a deficit around

... in his pocket? I know that this is theoretically impossible (like crating up a black hole), even though they tried to teach us about negative numbers back in grade school. ("George has seven dollars and he gives his good friend Halli three dollars, and gives his other good friend Burton six dollars, so how many is he left with?")

But I dunno -- maybe he's more clever than he lets on.


p.s. Maybe the reason why he doesn't get sucked into his own pocket is because he sucks even more strongly?

[Blue_Tires]

68. what the fucking hell????

......