WJ this morning - Heffner from Scoop 44.com is on

[malaise]

He's responding to a loony caller from Alabama.

[KharmaTrain]

1. Another Big GOOP Landmine...

Last week I saw a poll showing President Obama's approval ratings were the highest among the "baby boomers" 50-65 year olds with an equal number among 18-30 year olds. Together these groups made up a large part of his victory and represent an interesting alliance of generations. Mine from Vietnam, my son's from Iraq. Mine from Nixon, his from booooshie. Mine from Watergate, his from <pick a scandal, any scandal>. The "Raygun" generation is all the GOOP was able to attract, and even there, they've lost the moderates. Just like how FDR transformed my parents generation into lifelong Democrats and JFK affected mine, Obama stands to be that symbol for my son's generation. In short...sucks to be a rushpublican.

:hi:

[malaise]

3. Sucks is a kind word

:hi:

Are you following China's concerns about her money. I told hubby ages ago that the US has no intention of ever repaying that debt. At some point the US will freeze the assets and find some bogus reason not to repay that money.


http://business.smh.com.au/business/world-business/china-seeks-assurances-on-us-debt-20090313-8xkz.html
<snip>
China, the US government's largest creditor, is ''worried'' about its holdings of Treasuries and wants assurances that the investment is safe, Premier Wen Jiabao said.

''We have lent a huge amount of money to the United States,'' Wen said at a press briefing in Beijing today after the annual meeting of the legislature. ''Of course we are concerned about the safety of our assets. To be honest, I am a little bit worried. I request the US to maintain its good credit, to honor its promises and to guarantee the safety of China's assets.''

China should seek to ''fend off risks'' as it diversifies its $US1.95 trillion ($3 trillion) in foreign-exchange reserves and will safeguard its own interests, Wen said. Chinese investors held $US696 billion of US Treasuries as of the end of 2008, an increase of 46% from the prior year.

Treasuries have dropped this year as President Barack Obama sells record amounts of debt to fund his $US787 billion economic stimulus package. Merrill Lynch's US Treasury Master index shows the securities declined 0.5% last month, after falling 3.1% in January, the most since April 2004. The dollar has dropped 17% against the yuan since China ended a fixed exchange rate in July 2005.
---------------
You cannot fight wars with other people's money. That is the death of empire.

[KharmaTrain]

5. The Snake & The Cobra

While we're China's biggest creditor, we still remain their biggest customer. European and Asian demand still doesn't make the big money like exporting to the U.S. does. In many way I joke that the money booshed borrowed is our money in the first place, and I agree that he probably viewed it that way...not concerned in paying it back cause he and his cabal of criminals planned to leave it for the next administration (didn't matter which party). They were there to make it while they could.

China has a lot riding on our economic recovery. It's our consumption that fuels their political stability. It's also created China's own middle class (Koppel did a great series about this recently) that can't exist without our consumption and the credit that flows between the countries. Thus while they can talk about sinking our economy, but it would be political suicide on their front as well as economic as they'd destroy their largest outlet for both goods and capital.

There's a caller on right now whose nailing this point nicely...

[90-percent]

2. I'm 54

And when I interact with younger people I always apologize for what my generation has left for theirs.

I do hope the young of today do a better job than my generation did.

-90% Jimmy

[malaise]

4. Yes we've made a mess for the generations to come

Greed, greed, greed. The caller is right.