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What are the odds Tim Geithner gets flagged for H1N1 in China and Quarantined?

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May 29, 2009 – Comments (3)

Less now that they would have been were he still on his currency manipulation kick. But Beijing and Washington agree now that they want the Chinese to be better consumers.

In a related development, Michael Pettis opines on why the Chinese are savers and not spenders. Is really Confucius's fault?

3 Comments – Post Your Own

#1) On May 29, 2009 at 2:09 PM, 4everlost (28.70) wrote:

I just can't believe that Timmy is going to China and saying "Spend your money, don't save it!  It works real well as a long term approach to wealth accumulation, just look at our results!"

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#2) On May 29, 2009 at 2:32 PM, jesusfreakinco (28.27) wrote:

Let's hope he gets stuck in China.  Maybe the 'help' he is providing will stop for awhile...  :)

JFC

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#3) On May 29, 2009 at 2:46 PM, starbucks4ever (66.52) wrote:

But actually this time Geitner is right! I can't pretend to understand his motivations, or explain this paradox of a US official giving China the right advice, but for whatever reason he is saying the right thing this time. China does need to boost its domestic consumption, simply because it has run out of rich foreign consumers. The ones they hoped were rich turned out to be deadbeats...

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