World Turned Upside Down (ISRAEL)

Chinese Prime Minister Wen Jiabao rattled the Obama administration late last week. He said China is concerned about its loans to the United States and asked the U.S. government to preserve its good credit standing and guarantee the security of these loans.

The comments by the Chinese leader sent U.S. treasury bills lower because it is clear to many observers that President Barack Obama's spendthrift and irresponsible policy will be costly for the U.S. economy and the entire world.

Obama quickly sought to restore faith. The U.S. budget deficit, he said, will shrink 50 percent in four years (doubtful). The White House spokesman added that there is no safer investment in the world than the United States. Still, the Chinese are not calm.

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