Chinese Students Laugh at Geithner, Yields Rise Again

UPDATE 3-Geithner tells China its dollar assets are safe: ""Chinese assets are very safe," Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.

His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home."

From reader TwoPintWitty: "Geithner gets laughed at by Chinese students when he says China's money is safe... this makes me angry for so many reasons.

A) Chinese students are brighter (maybe) than the US masses...
B) They shouldn't be laughing, they should be throwing rocks at him for stealing their money..."

FN: US Treasury yields are fast approaching yields not seen since BEFORE Bernanke started cutting rates. This is not exactly going to help any economic recovery.