Currency Newswire » Congress

Barney Frank Does Not Appreciate Having Words Put In His Mouth

admin — Thu, 11 Jun 2009 16:07:39 +0000

Other things, maybe, but not words. Barney Frank tells CNBC to sit on it, after Mark Haines, who by his own admission “can not remember what happened yesterday,” calls him out for his repeated auditioning for the role of Populist Compensation Queen, er, Czar.

Fast Forward to 5:50 in the clip below: Hell hath no fury like a… Barney Frank… scorned.

Too bad CNBC does not cue to Mark Haines’ other guest, Laszlo “If it looks like bull, and it smells like bull, it must be…” Birinyi, who takes just enough time from his book-talking propaganda to unclamp his mouth in utter shock.

Will Obama Increase Pressure on China Regarding the Yuan?

admin — Fri, 23 Jan 2009 16:53:42 +0000

Chinese could see more pressure for yuan appreciation
Among the mumblings that circulate in Washington about foreign currency exchange is the regular lament that China is a currency manipulator. Although this is said quietly, and any real pressure on the Chinese to allow yuan appreciation is rarely brought to bear.

But will that change with the Barack Obama presidency?

Both Obama and his Treasury nominee, Timothy Geithner, say that they want to pressure China into allowing more natural yuan appreciation. But it may not get the support it needs in Congress. And, more importantly, even if Congress does legislate something, China is unlikely to comply.

China doesn’t really worry about the U.S.

The bottom line is that China doesn’t really worry about the U.S. China desn’t have to. Our government can threaten all it wants, but the bottom line is that China is our biggest debt holder. All China has to do is call in the debt — or threaten to — and an impasse holds.

Honestly, the U.S. really isn’t in a position to make demands on what China does, or doesn’t do, regarding yuan appreciation.

Congress Gets on Board for TARP: Are Tax Cuts Next?

admin — Thu, 22 Jan 2009 20:51:24 +0000

Fingers are being crossed for economic stimulus
The economy is The News lately. Especially the U.S. economy. And yesterday Congress voted to release the last half of the TARP funds approved for economic stimulus last year. Now, Congress is turning its attention to the economic stimulus plan suggested in part by Barack Obama.

The economic stimulus bill includes funding for:

Infrastructure.
Tax cuts.
Schools.
State governments.
Health care.
Technology.
Unemployment.
Alternative energy development.

It remains to be seen whether this bill is passed, and whether or not it truly does stimulate the economy. For now, though, the economic troubles plaguing the U.S. are not causing trouble for the U.S. dollar. Quite the opposite; with the global economy in ruins, the U.S. dollar is the safe haven currency of choice.

Currency Newswire » Congress

Barney Frank Does Not Appreciate Having Words Put In His Mouth

Will Obama Increase Pressure on China Regarding the Yuan?

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Congress Gets on Board for TARP: Are Tax Cuts Next?