Three days ago I registered my amazement and confusion about China's Premier Wen Jibao's strange warning to the USA. Now I read a satire about the same warning by Mogambo in Asian Times, and his interpretation is definitely superior to mine. This is a learning diary and I am learning. Mogambo (pic?) writes:
You will be happy to know that we have nothing to fear from the Chinese, as they are as stupid as the rest of us, as I learned from a Bloomberg.com report that China's Premier Wen Jiabao says that China is "the US government's largest creditor" in terms of Treasury bonds, and he is "worried" that something might happen to the buying power of all of that American money, and he "wants assurances that the investment is "safe" and that he "requests" that the US "maintain its good credit, to honor its promises and to guarantee the safety of China's assets". Which makes me laugh that anyone would even bother saying such a thing! Hahaha! Moron!
I say to Wen Jaibao, tears of laughter running down my face: "Hey, Chinese dude! Don't worry about your stinking dollars losing value! Hahaha! We'll take real good care of your money, you moron!"
I don't expect the Chinese to hear me and suddenly say, "Thanks, Mogambo!" or "That Mogambo fellow is one sharp economic cookie, and maybe we ought to be following his Strong Mogambo Suggestion (SMS) to buy gold, silver and oil against the terrifying inflationary conflagration that will inevitably result from such insane monetary and fiscal irresponsibility by the Federal Reserve and the Congress..."