According to the Bloomberg news survey of 26 economists, China is going to post the first trade deficit of $390 million in March. The problem is in February (the previous month) they had announced trade surplus of $7.6 billion dollars. Furthermore it just happens that our treasury secretary Timothy Geithner was in Beijing yesterday meeting with Chinaâs Vice Premier Wang Qishan (what a coincidence)
I'm sure it's on the up and up. For crying out loud, if you cannot trust the ChiComs, who can you trust?
I read that same article and thought the same thing. Credibility is definitely in question. How do you go from a multi-billion dollar surplus to a deficit in just one month? Seems fishy to say the least...
Can you trust international bankers? Can you trust Goldman Sachs? Can you trust the Fed, the IRS, your elected politicians? Can you trust your mother in law?
/facepalm They probably got it lending to all the retards in the west that seem to think they can borrow their way to prosperity and keep spending like mad. $390 million is absolutely nothing compared to the trillions that the most powerful western countries are pumping out they had a real surplus like that before then they could probably do it again. My guess is if they are smart they'll realize that the westerners reckless spending is probably going to drag them down so they may well finally pull the plug on the mad easy money scheme America and the flunkies are pulling.
I think the real question is...what happened in that month that made them need to come clean about the deficit? I mean, if they were lying about the surplus before, why are they telling us they have a deficit?