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"We hate you guys."

February 12, 2009

Update!  The FT is reporting that China will buy treasuries after all, according to Luo Ping, a director-general at the China Banking Regulatory Commission: “Except for US Treasuries, what can you hold?” he asked. “Gold? You don’t hold Japanese government bonds or UK bonds. US Treasuries are the safe haven. For everyone, including China, it is the […]

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Something about a pot and a kettle

February 12, 2009

In his confirmation hearing (pdf link), Tim Geithner made the bizarre and potentially embarrasing statement: President Obama - backed by the conclusions of a broad range of economists - believes that China is manipulating its currency. President Obama has pledged as President to use aggressively all the diplomatic avenues open to him to seek change in China's currency practice. […]

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