Obama: Investors Should Have 'Absolute Confidence' in the U.S.

[bijou]

The Chinese and other foreign investors should have "absolute confidence" in the soundness of their investments in the United States, President Obama said Saturday.

Obama commented in the Oval Office in response to a question about the Chinese premier's concerns over the safety of his country's holdings in America. China is Washington's biggest foreign creditor, with an estimated $1 trillion in U.S. government debt. The Obama administration is counting on the Chinese to help pay for the $787 billion economic stimulus package by buying U.S. bonds.

Obama, who has worked to help revive the slumping U.S. economy since taking office in January, declared that investors have no reason to be afraid and that investments in the U.S. have increased even during the financial crisis.

"I think that not just the Chinese government but every investor can have absolute confidence in the soundness of investments in the United States, and that is not just in U.S. issues, Treasury notes, but also in the private sector and the commerce and the industry that has made us the most dynamic economy in the world," Obama said after meeting with Brazilian President Luiz Inacio Lula da Silva.

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[Crazy Horse]

I did have confidence until I kept hear DEPRESSION, CRISIS......blah, blah everyday, every hour , every minute for the last ****ing year.

Now that you realize you'll be blamed you change your tune............****ing amateur dumbass idjit..............and want all of us to have confidence now..........too ****ing late, you ****ed the goat and there's no un****ing of the goat

[Lacarnut]

I have confidence that gold and other precious metals will shoot up in value when inflation starts to raise its ugly head because of all these billions of dollars that are being p!ssed away on bailouts.

I have little confidence in the zero Prez., Uncle Ben and Geithner. A bunch of damn amateurs. 

[Baruch Menachem]

This is going to start the race for the door.

The problem is, not the US investments, but the local economies of the huge dollar holders.  China has been hit hard by the depression, and the government there is going to have to do some of its own stimulus.  Selling dollars would be a good place to start to get funds.  Also all the OPEC places that are facing oil prices at $45, when the economy there needs oil at $60 to keep the system going, they will be needing to sell too.


What we have now is everyone out there needs to dump their dollars, but when the thing starts, it will feed on itself.  No one wants to start the rush out the door, no one wants to be at the end of the que,  but everyone is watching each other real real close.

[NHSparky]

Glenn Beck nailed it (I heard it on satellite on way home) how McCain was blasted for his comments on the basic soundness of the economy when the Dow was at 11K, and now that it's at 7K and Obama and his Obots are touting the same thing, nobody says a word of criticism.

[Jim]

you know, investors SHOULD have confidence in T-Bills.  The fact that they do NOT really ought to be getting the 0's attention.

[SSG Snuggle Bunny]

Maybe it's just me but...

...this kinda sounds hollow after he was taken to task repeatedly for for being such a mewling little bitch.