It's official, trillion is the new billion. No longer is government spending talked about in terms of a mere ten digits. With the recent flurry of government spending, we are going to need another three zeros to make sense of it all.

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Why should China not withdraw its 1 trillion $ from US treasury? Lessons from history

Wen Jiabao, China's prime minister issued an obscure warning to America to preserve control over its economy. No one ever tries to hurt its best customer. China will be the first to be ruined with collapse of the US $ and world trade.

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The sharp slowdown in the US economy will push the federal budget deficit to more than $1 trillion, the non-partisan Congressional Budget Office (CBO) says. The deficit of $1.186 trillion for the fiscal year ending on 30 September would be the largest on record.

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The truth is that the chief executives of the Big Three automakers could have hitchhiked to Washington to beg for alms and they still would have been raked over the coals. But the fact that they came in their corporate jets was a bit much.

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A new listing on the Shanghai stock market, PetroChina, made a $9 Billion debut this week. The shares are valued at about $5.90 American, for a total value of almost one billion. (Mobil is second at about half that.) Is it overpriced? Some think so.

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