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Monday, August 22, 2011

Biden: Chinese US Debt Is Safe-ish.

"Giving a speech at Sichuan University, Mr Biden yet again sought to reassure China that its €830 billion holding of US Treasury bonds was safe." (Irish Times)

Ho hum... just one more act of perjury.
“It's safe in our hands and I'll say exactly what I'm told to say as it's not my expertise; gaffs are more my thing," volunteering the soon to be obvious. "As you students of international commerce and finance will know, we've been busy putting our financial house in order by Benny B banging out billions of our soon to be worthless bucks." Thought: I think that might have been my first little G today. "My personal preference is to buy the old trouper Gary U.S. Bonds. He's on the road with some banging new tracks and it's much the safer bet than our Fed Bonds." Asked an opinion of Obama's soon to be released one star rehash? "Well...lets just say, 'Another 4 Wasted Years' ain't no spine tingler...one for his hard core, I guess..."


Mr Biden, when out and about for lunch and cornered by some press near a live what-the-hell-is-this street vendor's, reluctantly agreed that any time soon US interest rates will be something other than planned. He also made a virtue of Treasury Bonds falling following the downgrade. "They're even more sought after than ever! Leprechauns and blind faith are great market tools." Joe spluttered enthusiastically, some interesting street food particles alighting on the faces of less nimble press hacks.“We are still the single-best bet in the world in terms of where to invest if you want to be a pauper before Cinder's coach returns to pumpkin status." In his summing up Mr Biden concluded, "We are the two biggest engines and the two largest economies working together to buoy the world economy."
I guess Joe must have missed that US/China friendly-fraternal ball bouncer of a game.

(Photo top: Ng Han Guan/AP).