Friday, July 10, 2009
Curious - my belief that Obama's performance on the economy has been awful has been stated - why he keeps getting credit for doing a good job is beyond me, the stimulus package is now coming to be seen by the majority as an absolute boondoggle - but what's curious is that China is increasingly making noise about creating an alternative reserve currency, which would certainly scuttle Obama's plans to institute Great Society II by running huge budget deficits for the next ten years - most seem to think China doesn't really mean it but rather this is just their way of forcing Obama to amend his profligate ways before they start undermining the value of China's two trillion dollars in currency holdings - what's curious is that that puts me and China, China and a whole slew of conservative economists for that matter, on the same page when it comes to judging Obama's performance on the economy. No way that can be good, right?
