Posts Tagged ‘China’

Wonder what you would find if you frisked the foreign demand of United States Treasury bonds and notes?

Answer: It decreased by a record amount in December.

BBC News reports:

The Treasury said foreign holdings of US debt dropped by $53 billion, surpassing the previous record set last April.

China cut its holdings by $34.2 billion – meaning it is now the second-biggest US debt holder after Japan.

The drop in demand may mean that the US has to pay more to borrow, just as the government has to fund a record budget deficit.

In total, net purchases of long-term stocks, bonds and notes increased by $63.3 billion in December, down from $126.4 billion in the previous month, the Treasury said.

China was a net seller for a second straight month.

Its bond holdings amounted to $755.4 billion in December, down from $789.6 billion the previous month.

China has previously questioned whether the US bonds are safe and whether it can sustain its deficits. It has also questioned the US dollar’s role as the world’s reserve currency.

President Barack Obama earlier this month released a budget plan that expects the federal deficit for 2010 to be a record $1.56 trillion, surpassing last year’s record of $1.4 trillion.

Just great. This is definitely not good news and it is not shocking either, considering the fact that we are faced with two straight years of record federal deficits… Thank you President Obama.  If you think the White House plans on cutting government spending soon, you must have just escaped from a straight jacket, padded cell, and insane asylum. The 2010 and 2012 elections cannot come soon enough!

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Wonder what you would find if you frisked $2 billion of the stimulus money meant to go towards wind power?

Answer: 80% of it is going to foreign companies.

You have got to be kidding me! ABC News reports:

Despite all the talk of green jobs, the overwhelming majority of stimulus money spent on wind power has gone to foreign companies, according to a new report by the Investigative Reporting Workshop at the American University’s School of Communication in Washington, D.C.

Nearly $2 billion in money from the American Recovery and Reinvestment Act has been spent on wind power, funding the creation of enough new wind farms to power 2.4 million homes over the past year. But the study found that nearly 80 percent of that money has gone to foreign manufacturers of wind turbines.

Click the photograph below to watch ABC News’ report:

Click here to watch report.

Jim Hoft – from Gateway Pundit – points out some interesting numbers:

US workers may be laid off but a Chinese company is helping build a massive wind farm in west Texas. The firm will receive $450 million in Stimulus cash. The project will save or create 300 jobs in Texas and 2,000 manufacturing jobs in China. That sounds like a good use of taxpayer dollars, huh?

In the end, large government is extremely inefficient and it’s baffling to think that people actually want to put their faith in it. 🙄 Honestly, can we consider this $800+ billion stimulus package a complete failure yet? It has done nothing to “stimulate” the economy and what the hell is a “saved” job!? How do you calculate that?

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Wonder what you would find if you frisked some Chinese legal experts?

Answer: They are calling for a ban on eating Yellow Yellers and Simbas.

The Guardian reports:

Chinese legal experts are proposing a ban on eating dogs and cats in a contentious move to end a culinary tradition dating back thousands of years.

The recommendation will be submitted to higher authorities in April as part of a draft bill to tackle animal abuse.

In ancient times, dog meat was considered a medicinal tonic. Today, it is commonly available throughout the country, but particularly in the north where dog stew is popular for its supposed warming qualities.

In recent years, however, such traditions are increasingly criticised by an affluent, pet-loving, urban middle class. Online petitions against dog and cat consumption have attracted tens of thousands of signatures. Videos showing the maltreatment of farmed dogs have spurred protests at markets where the animals are bought and sold.

But the drafters of the new proposal want far more drastic measures, which would oblige law enforcement authorities to close down thousands of dog restaurants and butchers which supply the meat.

Well since I’m a pet person, I’m all for the ban. Personally, I’ll still stick to eating my traditional non-dog/cat Chinese food.

Side-Note: I just realized I’m actually making this story a legitimate post on Frisk  A Liberal… What is wrong with me? Haha.

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SNL goes after Obama.

Wonder what you would find if you frisked Saturday Night Live’s portrayal of Chinese President Hu Jintao?

Answer: He sure doesn’t enjoy Obama’s spending spree.


Maybe Saturday Night Live is starting to get the hang of it? Lets hope so because we all know they could use some better ratings. The only thing that is missing right now is CNN’s fact check of a comedy skit, but than again… the day is not over with yet, haha.

Best quote from the skit:

I am noticing that each of your plans to save money involves spending even more money.

Yeah… It’s funny how that one works and I still find it quite baffling to this day, but I’m glad SNL pointed it out.

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