Quotes of the day
posted at 10:32 pm on June 1, 2009 by Allahpundit
“It will be helpful if Geithner can show us some arithmetic.”
***
“‘Chinese assets are very safe,’ Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.
His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home.”
Blowback
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Geithner needs a psychiatric ward if he said that with a straight face.
clnurnberg on June 1, 2009 at 10:35 PM
It would be helpful if the press in the USA was at least as skeptical as communists in China.
DaveS on June 1, 2009 at 10:36 PM
Arithmetic? We’re American we don’t do arithmetic. That’s one reason that many Chinese-Americans supplement the public school math with weekend courses.
dedalus on June 1, 2009 at 10:36 PM
If only Geithner could add….
LASue on June 1, 2009 at 10:37 PM
Uh, note to Timmy, these are not American college students. They are college students in a communist country. Not nearly as indoctrinated in socialism as our students. These guys can actually think!
conservnut on June 1, 2009 at 10:37 PM
Good thing they laughed at Mr. Geithner instead of the president. He doesn’t like it when people laugh at him.
Cindy Munford on June 1, 2009 at 10:37 PM
I would laugh too. Mostly because a man who can’t do his taxes right really shouldn’t lecture about how to do math and junk.
mjk on June 1, 2009 at 10:38 PM
Good luck with that. I’m still waiting for an explanation of what “profit and earnings ratios” are.
progressoverpeace on June 1, 2009 at 10:39 PM
What’s Chinese for “lying tax cheat who’s even uglier than most of those people”?
Jim Treacher on June 1, 2009 at 10:40 PM
Wow. What complex laughter.
crr6 on June 1, 2009 at 10:41 PM
That’s the money quote, right there.
OldEnglish on June 1, 2009 at 10:42 PM
Great quote of the day, obviously a “no brainer”.
It happens so infrequently, but yes, it would help if our Treasury Secretary could do math and use TURBO TAX. But such complex concepts are too much to ask of anyone, are they not?
The Chinese are laughing at us. We have indeed hit rock bottom (fingers crossed and holding 4 leaf clover).
Hog Wild on June 1, 2009 at 10:42 PM
Can anyone imagine a group free thinking students in any one of our institutions of higher learning laughing derisively at the ridiculous assertions of Timmy?
Me neither.
We are so screwed.
elduende on June 1, 2009 at 10:43 PM
As well as an explanation to……….
Seven Percent Solution on June 1, 2009 at 10:43 PM
You have a simpler explanation for why they laughed at that statement, presumably.
Jim Treacher on June 1, 2009 at 10:44 PM
Math is hard.
Joe Caps on June 1, 2009 at 10:45 PM
I would love to see some video of this…….
Seven Percent Solution on June 1, 2009 at 10:47 PM
Yeah, it’s too bad he didn’t study there in the late 90′s. The Chinese learned an awful lot about be benefits of Capitalism between then and the 80′s.
FloatingRock on June 1, 2009 at 10:48 PM
Can anyone imagine a group free thinking students in any one of our institutions of higher learning laughing derisively at the ridiculous assertions of Timmy?
Me neither.
We are so screwed.
elduende on June 1, 2009 at 10:43 PM
You’d find plenty of Aggies who would gladly laugh at this tool if he had the balls to show up at A&M.
txag92 on June 1, 2009 at 10:49 PM
Another example of how the US has become the laughingstock of the world under the Messiah.
n0doz on June 1, 2009 at 10:50 PM
I suppose a simpler explanation would be that the U.S. economy is weak. But regardless…
It was just a joke sweetie. Not everyone is so intent on making some sort of trite political point in every post. Exhibit A…
crr6 on June 1, 2009 at 10:51 PM
I do. They know a good joke when they see one.
Patrick S on June 1, 2009 at 10:51 PM
I thought he was the only guy in the whole wide world who fix our problems. Addition and subtraction are so hard and difficult. Don’t even bring up multiplication and division.
cjs1943 on June 1, 2009 at 10:53 PM
Time to break out the Scarecrow’s song “If I only had a brain”
Defector01 on June 1, 2009 at 10:56 PM
Timothy Geithner, US Secretary of the Treasury:
I was with the understanding that this
majorjob had no math requirement.silverfox on June 1, 2009 at 10:57 PM
Go A&M! Figures. leave it to Texans to have some brains left!
elduende on June 1, 2009 at 10:57 PM
Got a simple explanation for how appointing Tax Cheat Timmy, taking over GM, throwing money at banks, and rushing an unread huge “stimulus” bill has made our economy stronger?
I’ve got to hear this one.
cs89 on June 1, 2009 at 10:57 PM
I can’t wait to see Geithner weeping like Glenn Beck and America the HOME OF THE FREE AND BRAVE laughing at him.
Oh, sorry….just a fantasy – STEEPED IN REALITY.
seesalrun on June 1, 2009 at 10:58 PM
Which is somehow different than what Reuters said.
Ooh, sounds like someone’s got a burr in his saddle…
Jim Treacher on June 1, 2009 at 10:58 PM
crr6, the ultimate erudite, owes you nothing.
Schadenfreude on June 1, 2009 at 10:59 PM
Drudge had a link to an actual editorial from “Pravda” that Michael Savage had also read on his show a couple nights ago, where Pravda was stunned at the “rapidity with which the US has embraced Marxism”. Basically telling the Russians they’re idiots if they invest one dime in this country.
Marcus on June 1, 2009 at 10:59 PM
Nobody would dare to touch it?
OldEnglish on June 1, 2009 at 11:01 PM
Schadenfreude on June 1, 2009 at 11:01 PM
He will do that just as soon as Turbo-Tax comes out with a deficit calculator program.
Geithner then signed an agreement with the Chinese to put America’s children and grandchildren up as collateral.
MB4 on June 1, 2009 at 11:05 PM
“It will be helpful if Geithner can show us some arithmetic.”
Three words; “Turbo National Budget.”
Star20 on June 1, 2009 at 11:06 PM
Deceiver, dissembler
Your trousers are alight
From what pole or gallows
Shall they dangle in the night?
What infernal serpent
Has lent you his forked tongue?
From what pit of foul deceit
Are all these whoppers sprung?
by William Blake
PercyB on June 1, 2009 at 11:09 PM
Hear it, in Chinese – hahahahahahahaha.
I am almost delirious with the awe of the absurdity and couldn’t contain myself.
seesalrun on June 1, 2009 at 11:10 PM
They won’t do it then, either. Math would dispel the magic they’ve been relying on in their forecasts. Math is fraud-bane.
FloatingRock on June 1, 2009 at 11:13 PM
The Chinese are dumber than we are. Like the old saying goes, if you owe the bank 30 grand, YOU have a problem, if you owe the bank 300 million, THEY have a problem. Free trade 101 is you try to keep trade deficits to a minimum, that is if you want to get paid. The Chinese should have read their Milton Friedman a little more carefully.
echosyst on June 1, 2009 at 11:16 PM
You want to know what you are, Geithner? Huh? Huh? You don’t, I do, everyone does… you’re the son of a thousand fathers, all lying bastards like you.
Tuco on June 1, 2009 at 11:19 PM
China’s biggest problem is convincing their citizens to spend all the money they’ve been saving. That they’ve been saving so much money is the reason we’re capable of being so deeply in their debt. They can right off the their US investments a lot easier than we can cope with the fallout from it.
FloatingRock on June 1, 2009 at 11:19 PM
Go A&M! Figures. leave it to Texans to have some brains left!
elduende on June 1, 2009 at 10:57 PM
Those interested in moving to Texas better do it before we succeed as no fence would be necessary….. if you catch my drift.
Gig’em!
txag92 on June 1, 2009 at 11:20 PM
简体中文版
That’s what I think of Geithner.
Bishop on June 1, 2009 at 11:20 PM
truer words have never been spoken and I agree. But I doubt that our Pilots even have a grip on it. Are you running for office. I hope so.
seesalrun on June 1, 2009 at 11:20 PM
It would be helpful if Geithner can leave for good.
OneGyT on June 1, 2009 at 11:21 PM
FIFM
FloatingRock on June 1, 2009 at 11:21 PM
I’m guessing that Obamanomics is based primarily on the fact that a negative multiplied by a negative, will be a positive.
Therefore, spending a bunch of money you don’t have, plus borrowing a bunch of money you can’t possibly pay back equals?
Budget Surplus and debt reduction!!
!
cntrlfrk on June 1, 2009 at 11:24 PM
Timmy Turbotax forgets that the Chinese have a long frame of reference….
sven10077 on June 1, 2009 at 11:25 PM
Am I reading this wrong, or is Reuters just making up a motivation for the laughter? Is there some sorrow reflected in the laughter that the Chinese leaders are not investing their money at home? I would personally love it if they stopped buying our debt because we might be forced to stop incurring it, but whatever.
msmveritas on June 1, 2009 at 11:28 PM
Oh, you’ll get your wish. Come September, expect the Fed to raise interest rates and start cranking up the printing presses.
John the Libertarian on June 1, 2009 at 11:33 PM
It wouldn’t matter. Obama would just replace him with some 24-year-old Econ grad student from Princeton or Yale or someplace.
ddrintn on June 1, 2009 at 11:34 PM
We are soooooo screwed!
promachus on June 1, 2009 at 11:34 PM
galvestonian on June 1, 2009 at 11:39 PM
June 1, 2009
Northwestern Mutual Life Insurance Co., Milwaukee, has bought gold for the first time in 152 years to hedge against further asset declines, Bloomberg reports. According to the news service, Northwestern Mutual has accumulated about $400 million in gold, and CEO Edward Zore says the price could double or even rise fivefold if the economy continues to weaken.
KentAllard on June 1, 2009 at 11:40 PM
Broke government buys broke auto manufacturer with Chinese money. Hollyweird would have turned down the script.
Limerick on June 1, 2009 at 11:41 PM
The barbarians are here and Rome is burning.
JellyToast on June 1, 2009 at 11:42 PM
This is not the first time the Chinese have laughed at the Obama administration.
Hillary’s latest suck up trip there showed how this relationship has changed:
Hillary Clinton: Chinese human rights secondary to economic survival
Hillary Clinton has told China that the US considers human rights concerns secondary to economic survival.
http://www.telegraph.co.uk/news/worldnews/asia/china/4735087/Hillary-Clinton-Chinese-human-rights-secondary-to-economic-survival.html
Like many have already noted above.
The Chinese are not on their knees in the People’s Temple of Obama like his followers are here and their press does not have their lips pressed to firmly to Obama’s a$$.
The reaction of laughter to Geithner’s obviously tone def statement is the same reaction Republican’s give them here when Obama makes obviously ignorant statements such as this:
In his weekly address today, President Obama calls for fiscal discipline and says his administration will eliminate waste and increase efficiency.
Kind of like having Charles Manson lecture us on “Family” values.
liberals are just stuck on stupid.
Baxter Greene on June 1, 2009 at 11:44 PM
echosyst on June 1, 2009 at 11:16 PM
The problem is, the Chinese have an economic future.
We don’t.
And they know it.
So who is stupid?
TexasJew on June 1, 2009 at 11:50 PM
Amazing that the reporter could tell exactly what they were thinking just from the way they laughed.
Daggett on June 1, 2009 at 11:54 PM
There’s a lot of speculation that China is going to be buying more hard assets to diversify their surpluses.
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5160120/A-Copper-Standard-for-the-worlds-currency-system.html
Maybe the Left will teach the rest of us how to build an industrial civilization out of hemp.
venividivici on June 1, 2009 at 11:59 PM
Beijing U. students, apparently, didn’t get the word that you can’t laugh at representatives of The Messiah, even when their lies are transparent to 5-year-olds.
Seems to me that the Chinese, Russians, Brits and others see that The Emperor wears no clothes. Our MSM, Obama’s propaganda organ, is willing to suspend critical thinking and skepticism, because they want this malicious, narcissistic marxist to “succeed.”
BottomLine5 on June 2, 2009 at 12:08 AM
Russia’s Pravda’s lecturing the US on democracy, Chinese students easily identify ludicrous irregularity in Obama Admin’s Treasury makes a “serious” statement…
What’s next? Please, let nothing be next, send Obama back to his community organizing or better yet, to Cuba for a lovely ocean-side retirement.
Lourdes on June 2, 2009 at 12:10 AM
But we have to have universal health-care, cap-and-trade, and GovMo.
Kennedy’s dad saved a fortune by understanding from his own sleazing trading that the market was tanking. He sold everything and dropped a ton into municipal bonds. Anyone know want the Kennedys are doing with their money this time as Dems send us to economic oblivion.
BuckeyeSam on June 2, 2009 at 12:15 AM
Of course, they can only do it at something of a tip-toe as they do not want to sent off a dollar crashing stampede.
MB4 on June 2, 2009 at 12:27 AM
sentset offMB4 on June 2, 2009 at 12:28 AM
Allahpundit:
“Default, Dear Allah, lies in de solution!”
Dr. Charles G. Waugh on June 2, 2009 at 12:31 AM
Can *anyone* convince me Cap and Trade isn’t religious doctrine?
John the Libertarian on June 2, 2009 at 12:36 AM
galvestonian on June 1, 2009 at 11:39 PM
So… Geithner is the like the Aggie who couldn’t spell and spent all night in a warehouse?
TexasJew on June 2, 2009 at 12:39 AM
They seem to be doing it in stages. Over the past few days, they’ve been selling 10 year bonds and buying shorter-dated bonds, from reports I’ve read. That’s helped our yield curve hit new records for steepness between the 2 and 10 year. Next, they’ll go from short-dated bonds to even shorter, then cash, then trade those dollars to countries with resources who are hard up for any currency harder than their own or who need dollars to pay back dollar-denominated debt, but can’t export to the US because our consumers aren’t buying.
Meanwhile, the incremental buying in the commodities markets pushed up prices for our consumers despite our weak economy. Almost the entire reason today’s personal spending number wasn’t weaker than it was was from increased prices for commodity products like gasoline.
venividivici on June 2, 2009 at 12:42 AM
I could try.
Cap and trade is where you make up a fairy tale (CO2 is a pollutant) and use it to seize boatloads of cash and give it to your friends and to the government.
Daggett on June 2, 2009 at 12:44 AM
I’m an oil guy, and I can’t begin to figure out what the hell is happening to oil right now, except that the dollar is about to tank like a lead-assed duck.
TexasJew on June 2, 2009 at 12:45 AM
Thank GOD!! It is so GREAT to have the smarterest people in charge now. Just fantasiticoooo!
jukin on June 2, 2009 at 12:55 AM
FIFY
Lead couldn’t possibly make the kind of crater the dollar is going to create.
trigon on June 2, 2009 at 1:00 AM
Will the press come clean about the Obamas and their friends or will they become the Judas, the Benedict Arnolds of the 21st century, betraying their country and even their own integrity to protect a myth.
clnurnberg on June 2, 2009 at 1:18 AM
It’s sad to think that a bunch of Chinese students or economists can see right through this BS–and our vaunted free, sophisticated, educated media completely MISSES IT!
PattyJ on June 2, 2009 at 1:47 AM
Translation from journalistese into plain English: They thought Tim Geithner was full of s–t.
gryphon202 on June 2, 2009 at 2:00 AM
By the by, accumulating a vast stockpile of foreign reserves isn’t necessarily a bad thing, as long as you can count on the long-term prosperity of those foreign interests.
Since economics is a rather imprecise statistical science, and no capitalist society can maintain consistent prosperity indefinitely (cf. Dutch Tulip Crash), I wouldn’t be surprised of the ChiComs start furiously dumping U.S. Dollars like last week’s food scraps.
You think the economy’s in the toilet now? We have not yet begun to crap!
gryphon202 on June 2, 2009 at 2:07 AM
The Chinese are laughing at the US government; they appreciate US businesses. This is the last thing the Chinese want:
Note to Timmy: WAKE UP. It isn’t 1980 anymore. China has today what they lacked in 1980. Now they want to export. They want to keep the Yuan where it is to keep exportation attractive.
I am sitting in Narita airport on my last leg home to Dallas having been in the 5 Chinese locations since the 15th. I got some current news for y’all. Nobody here is looking to buy anything – everyone is a seller. The Chinese don’t want the US to muck the exchange rate; they want to see Timmy cover his bet.
ericdijon on June 2, 2009 at 2:09 AM
Again………
…… if you can’t provide and explanation, then don’t expect me to pay for your tab!”
Seven Percent Solution on June 2, 2009 at 2:32 AM
Sorry………..
………. I forgot to tell Michael Steele to get off his sorry ass, and make this a fuc$ing campaign issue to save this fuc$ing county!!!
Seven Percent Solution on June 2, 2009 at 2:34 AM
It’s all a cunning plan to take care of our looming unfunded debt. $100 Trillion won’t look nearly so bad, when $500 billion won’t even get you a fill up for your SUV.
djaces on June 2, 2009 at 3:58 AM
They are all like that! Everybody in the administration! Including the president.
Alana on June 2, 2009 at 4:00 AM
My guess: Never. Never in a million years. I have never seen anything like what the press has become. Somehow it augurs something more going on than meets the eye, though I don’t know what.
In any case, I figure we can expect them to turn around about the same time the radical muslims decide to convert to Christianity.
Alana on June 2, 2009 at 4:16 AM
RIGHT.
Just like Obama said he has no intention of running GM, Chrysler, Citi, AIG…
redfoxbluestate on June 2, 2009 at 6:23 AM
Cut Timmy some slack. At least he knows how to add staff to the IRS.
That’s math, isn’t it?
Barrack on June 2, 2009 at 6:45 AM
Yeah, that guy’s the biggest Simplified Chinese Edition I’ve ever seen…
jic on June 2, 2009 at 7:08 AM
All things considered I suppose Team Obama’s work has made Chia’s assets more secure than America’s. Probably true for the people in the two nations too.
MikeA on June 2, 2009 at 7:13 AM
Pick any 5 commodities, and in ten years the price generally declines due to improved technology.
This is an asset preservation strategy.
Right_of_Attila on June 2, 2009 at 7:36 AM
Actually we do, but with education being what it is in this country (where “2+2=one hundred and forty eleven”, as long as that answer makes you feel good about yourself) the arithmetic done by the Treasury Secretary has all the truth of a speech by Herr Obama.
oldleprechaun on June 2, 2009 at 7:48 AM
I wish some of those Chinese students would move to America and become journalists for us.
Josiah on June 2, 2009 at 8:05 AM
Exactly.
ladyingray on June 2, 2009 at 8:17 AM
Obama digs our grave, and the world laughs.
The issue is not whether China will disinvest, but when.
petefrt on June 2, 2009 at 8:23 AM
What’s he supposed to do? He’s there to support President Obama. I don’t consider Geithner to be particularly brilliant, but he seems smart enough that I imagine he’s hitting his head against the wall at the path President Obama is taking us down.
If he ever writes a book it could be some very interesting reading.
BadgerHawk on June 2, 2009 at 8:37 AM
That whole thing about rebuilding respect for America around the world seems to be hitting some bumps.
Star20 on June 2, 2009 at 9:02 AM
You have to remember,Geithner inherited all of this!
Star20 on June 2, 2009 at 9:11 AM
In the words of the ancient Chinese philosopher Bwa Ha-Ha:
“Bwaahaaahaaa! “
profitsbeard on June 2, 2009 at 10:10 AM
That’s not why they were laughing. Methinks they were “reflecting skepticism about the wisdom” of buying bonds of a government that can’t pay its debts.
Chinese assets are very safe–in China.
Steve Z on June 2, 2009 at 11:42 AM
I think, the fact that Mr. Geithner was there, selling Obama’s plan, they were in fact, laughing at Obama as well. lol
This presidency is now, not only inept, but a laughing stock. I’m sure China isn’t the only country laughing.
capejasmine on June 2, 2009 at 11:44 AM
Arithmetic? That’s so old-fashioned–ObamaGeithner are leaders of the Hopenchange Paradigm Shift of New Math.
When the debt becomes infinite, it can’t be counted, so why bother counting? It’s creative spending, just witness the good feeling and tingling legs! It’s the Age of Aquarius, get the ying and yang, and forget the yuan!
Steve Z on June 2, 2009 at 11:52 AM
Lest anyone forgets, these students have been cultured NOT to express dissent, especially to a government (theirs).
With that in mind, it makes the raucous laughter about his statement have all the more impact.
SkinnerVic on June 2, 2009 at 12:17 PM
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