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The Power Of Debt

Marla Singer's picture




 

Japan's holdings of U.S. debt securities (1994): $196 billion.

It wasn't a bow, exactly. But Mr. Clinton came close. He inclined his head and shoulders forward, he pressed his hands together. It lasted no longer than a snapshot, but the image on the South Lawn was indelible: an obsequent President, and the Emperor of Japan.

 

   - The New York Times, June 19, 1994.

Japan's holdings of U.S. debt securities (2008): $1.05 trillion.

After his speech, Obama had lunch with Japan's Emperor Akihito and his wife, Empress Michiko, bowing deeply as they welcomed him to the graceful grounds of the Imperial Palace in the heart of the bustling city.

  - The New York Times, November 13, 2009.

Japan's holdings of U.S. debt securities (2014): $4.39 trillion.

After yesterday delivering a moving public apology in Japanese for U.S. aggression in the controversial "Pearl Harbor incident," Obama enjoyed the honor of driving Emperor Akhito and his second wife Empress Sayako (daughter of the late Empress Michiko), back to the Imperial Palace where he served them finger sandwiches and mint tea.  The White House called the ceremony "standard protocol."

 

 - The New York Times, July 5, 2014.

 

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Mon, 11/16/2009 - 02:50 | 131543 rayen36
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LOL

Mon, 11/16/2009 - 10:06 | 131659 Anonymous
Anonymous's picture

Driving Miss Watanabe.

I keeps undah 30 on the side streets, Miss.

Is youse comfahtable or should we stop foh sum tea?

Mon, 11/16/2009 - 03:28 | 131553 Cheeky Bastard
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HA HA HA HA HA

+1000000000

Mon, 11/16/2009 - 03:38 | 131558 Anonymous
Anonymous's picture

And that's why we need a female President! To serve our debt owners finger sandwiches :)

Mon, 11/16/2009 - 09:23 | 131636 Anonymous
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This asswipe pres is a major embarrassment....save the bowing for your controllers in Chicago.

Mon, 11/16/2009 - 04:02 | 131563 Anonymous
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Although this is an attempt at humor, showing respect to other cultures seems fine to me. Making an issue of Obama showing respect to Asian leaders is something Fox News would do, and it disappoints me to see it on ZHedge...

Mon, 11/16/2009 - 04:10 | 131568 Marla Singer
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Given the Emperor's total lack of political power, your use of the word "leader" here is somewhat suspect.

Mon, 11/16/2009 - 09:49 | 131644 Anonymous
Anonymous's picture

Given Obama's total lack of pragmatic power, I'd call it a wash.

Mon, 11/16/2009 - 13:00 | 131894 Misthos
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Marla - don't forget history.  This emperor's father was Hirohito.  Are you familiar with Hirohito's forays into China in the 1930s?  Kinda bloody history.  This gesture may have been made as an affront or a veiled "reminder" to the Chinese.  The bow can be translated as "Hey China, we have friends in your backyard."

Diplomatic gestures are thought out well in advance and are meant for a different audience, somethimes multiple audiences, with different intended meanings.

Mon, 11/16/2009 - 13:48 | 131974 Anonymous
Anonymous's picture

it is true these gestures are thought out in advance. The Office of the President represents the American people. our current president has now deeply bowed to a Saudi king and an Asian emperor. Do the American people bow to royalty?

Mon, 11/16/2009 - 15:02 | 132101 Misthos
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No, the American people do not bow to royalty, the American people consume 25% of the world's resources and pay mostly for that on credit.

 

 

 

Mon, 11/16/2009 - 04:15 | 131569 Cheeky Bastard
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HuffPost is -----------------------------------------> that way ....

Mon, 11/16/2009 - 04:34 | 131572 faustian bargain
faustian bargain's picture

actually I think they'd be way over

<-------------------------------

that way

Mon, 11/16/2009 - 05:03 | 131578 Cheeky Bastard
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touche monsieur ... touche 

 

Mon, 11/16/2009 - 05:11 | 131580 faustian bargain
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lol

Mon, 11/16/2009 - 12:42 | 131861 DaveyJones
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thought the bow meant we're all headed this way

:

:

:

V

Mon, 11/16/2009 - 14:11 | 132009 Unscarred
Unscarred's picture

And the proverbial CAK in the ARSE is headed this way...

     / \
    |XX|
    |XX|
    |XX|
    |XX|
888  888

Mon, 11/16/2009 - 09:08 | 131630 Anonymous
Anonymous's picture

Leaving aside the fact that heads of state
rarely make very deferential gestures to each other - they meet as equals, after all - Obama's bow reached Borat levels of toe-curling cultural naievete.

http://blogs.abcnews.com/politicalpunch/2009/11/on-president-obamas-bow-...

Obama constructed the emperor as Other - and *also* made a frabjous ass of himself.

Mon, 11/16/2009 - 16:47 | 132276 Anonymous
Anonymous's picture

Bowing is only a gesture of respect if BOTH parties participate.

One person bowing is a gesture of subservience. It's not something that Obama should be doing because he is the equal to any other head-of-state.

And now he's done it twice. It's despicable really, he might as well spit on the flag while he's at it.

Mon, 11/16/2009 - 04:07 | 131565 arcturius
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:)))

Mon, 11/16/2009 - 04:09 | 131566 the.spear
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hohoho, zing*

 

+1^1000

Mon, 11/16/2009 - 04:21 | 131571 chindit13
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If the American ego is so fragile that it sees a bow as obsequious rather than simply acting polite in someone else’ home, then perhaps America needs to get taken down a notch or two.  Though I am no fan of Obama, I find it refreshing that he understands the Asian concept of “face” and knows that showing such respect in no way diminishes the strength nor apparent confidence of the actor.  Indeed, it enhances his ability to get done what he wants to get done, because in Japan, where style is far more important than substance, the gesture will go neither unnoticed nor unappreciated.

As for the comment about Akihito's second wife, Marla should be on the look out for black trucks with loudspeakers blaring, driven by men with punch-permed hair, carrying copies of the works of Yukio Mishima, and brandishing finely honed swords.

Mon, 11/16/2009 - 04:42 | 131576 faustian bargain
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The post was not about the shamefulness of bowing to a foreign figurehead. It was about the shamefulness of the US's ever-increasing foreign debt.

Mon, 11/16/2009 - 05:28 | 131582 Hoi Polloi
Hoi Polloi's picture

Actually it's both. It's about shamefullness for bowing and having such a large debt to a foreign country. Start borrowing less and stop whining for a beginning.

Mon, 11/16/2009 - 05:28 | 131583 Hoi Polloi
Hoi Polloi's picture

Actually the message is both. It's about shamefullness for bowing and having such a large debt to a foreign country. Start borrowing less and stop whining for a beginning.

Mon, 11/16/2009 - 04:43 | 131577 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

"taking America down a notch or two" will eventually comprise the core of the Obama legacy...

Mon, 11/16/2009 - 05:08 | 131579 Cheeky Bastard
Cheeky Bastard's picture

well if arrogance is the core paradigm of US FP, then i think you are in a shitload of trouble .... just saying, you know ... as an outsider .... humility does wonders when you need OTHER PEOPLE to buy your debt. And although i appreciate how Obama treats foreign dignitaries, his people in the WH protocol team should know that he does not need to bow to foreign rulers, because that is strictly reserved by those who are being ruled by them. 

Mon, 11/16/2009 - 07:45 | 131605 Zombie Investor
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Jack Tapper has following from "an academic with expertise about the Japanese Empire, and in general a supporter of President Obama":

"The bow as he performed did not just display weakness in Red State terms, but evoked weakness in Japanese terms....The last thing the Japanese want or need is a weak looking American president and, again, in all ways, he unintentionally played that part.

http://blogs.abcnews.com/politicalpunch/2009/11/on-president-obamas-bow-...

 

After the bow to the Saudi King, we were told by Axelrod, Gibbs and the rest of his administration that it wasn't a bow (he was just bending down to shake hands or some such nonsense).  In light of his latest bow, I think it becomes clear that they were lying.  I personally don't care if he bows or not.  What concerns me are the lies, the enemies list, the special favors list...  It's like being transported back to the Nixon era (as the article points out, he also bowed to the Emperor).

Mon, 11/16/2009 - 08:14 | 131616 Anonymous
Anonymous's picture

"Though I am no fan of Obama, I find it refreshing that he understands the Asian concept of “face” and knows that showing such respect in no way diminishes the strength nor apparent confidence of the actor."

WRONG! That comment shows a profound IGNORANCE of what happened. The Japanese are embarrassed over this. THEY do not see it as an act of being "nice".

Mon, 11/16/2009 - 09:58 | 131652 chindit13
chindit13's picture

If you are correct, please site sources.  My own conversations with a certain element of the Japanese populace, particularly the far right (who control much of the country's wealth and are becoming more popular), welcomed the gesture and found it respectful rather than weak.  Your sources may have a differing view.

On my own meeting with the Emperor---though I was hardly a Head of State---it was recommended to me by the Imperial Household Agency staff that such a gesture was the proper protocol.

Mon, 11/16/2009 - 09:17 | 131635 Anonymous
Anonymous's picture

The comment about Akihito's second wife is indicative of the cancer that has inflicted itself upon the west. An attempt to be funny perhaps, but disrespectful and reflective of immorality nonetheless.

What I've come to know as the "frat-boy" mentality.

Mon, 11/16/2009 - 10:03 | 131655 Anonymous
Anonymous's picture

But here in America bowing before someone does diminish the strength nor apparent confidence of the actor

Mon, 11/16/2009 - 15:55 | 132181 Anonymous
Anonymous's picture

Well put. Obama could change water to wine and a lot of people would bitch that they wanted beer. Knowing that, it's best just to ignore them. I have too many legitimate complaints about our political system to spend even one second worrying about a bow or a handshake.

There's a saying: small minds discuss people, average minds discuss events, great minds discuss ideas. Some never get past the small mind phase.

Now, having said that, I don't think the original post was necessarily aimed at Obama. It was odd that only Clinton and Obama were singled out, but nevertheless it was amusing. And it was just a joke.

Mon, 11/16/2009 - 05:53 | 131586 agrotera
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Excellent extrapolation Marla!

Mon, 11/16/2009 - 05:54 | 131587 agrotera
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sorry, duplicate

Mon, 11/16/2009 - 05:54 | 131588 Anonymous
Anonymous's picture

Whats wrong with respecting elderly statemen of other country ??

Mon, 11/16/2009 - 07:53 | 131609 Anonymous
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And when the debt gets to $10T is a blowjob involved?

Mon, 11/16/2009 - 13:28 | 131614 Cognitive Dissonance
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What's that old saying in banking?

If you owe the bank $10,000 and you can't make your payments, you're in trouble. If you owe the bank $100,000,000 and you can't make your payments, the bank is in trouble.

It's a two way street when loans are made but Marla is spot on when she shows through sarcasm that at some point with regard to our ever increasing debt (a point we have passed in my view) we are no longer in control of our economic and foreign policy.

On the other hand, the puppet can pull on the strings hard enough to upset the puppeteer. 

Mon, 11/16/2009 - 08:15 | 131617 Fibozachi
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haha, haha ... Obama re-elected ... ha, ha ha, ha. Nice.  What's next, inflation is coming?

Mon, 11/16/2009 - 08:19 | 131620 Anonymous
Anonymous's picture

awesome :D

Mon, 11/16/2009 - 09:11 | 131632 Gordon_Gekko
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ROTFL! Good stuff Marla.

Mon, 11/16/2009 - 09:33 | 131638 duckweed
duckweed's picture

a bow has nothing to do with defeat. just ask any samurai...

Mon, 11/16/2009 - 09:56 | 131650 Anonymous
Anonymous's picture

The overall it's funny enough.
But I think "Emperor Akhito and his second wife Empress Sayako (daughter of the late Empress Michiko)" is too much. After all, Sayoko is his daughter, isn't she?

Mon, 11/16/2009 - 10:00 | 131653 mikeyv1970
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A lot of folks have utterly missed the satirical point of the article.  She is poking fun at how "respectful" the US is becoming towards our new masters who allow us to continue the massive ponzi scheme being perpetrated upon US Citizens.  Soon I expect the US will completely disown Taiwan.  I would be extremely concerned if I was Taiwan...

Mon, 11/16/2009 - 10:04 | 131658 Mad Max
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SPOT ON!  Glad to see this being noticed outside of the right-wing circles.  It's a travesty.

Mon, 11/16/2009 - 10:09 | 131661 Anonymous
Anonymous's picture

Polonius:
Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.

Hamlet Act 1, scene 3, 75–77

Mon, 11/16/2009 - 10:12 | 131665 Anonymous
Anonymous's picture

It wasn't a bow it's just that he has such a weak spine and it is attached so lightly at the hips that he spontaneously wobbles over. Especially when nervous and prior to large debt auctions.

MacArthur ran those islands with greater dominion than any recent emporer or past shogun. He may have met with less than a handful of Japanese while he was there--always intermediating. Japan had a mixture of fear and awe.

Today they will see the USA as silly and decadent, without concentrated power in the "great leader", but as a ship of fools pulled about by the nose by corrupt and inept cabal.

Mon, 11/16/2009 - 10:19 | 131670 Anonymous
Anonymous's picture

Japan being a very linear society, everyone has an innate sense of their position in regard to each other. Bowing is a salutation rife with content.

The superior haltingly and modestly leans forward to acknowledge an inferior.

The inferior bows from the waist lockneed, but as deep a bow Obama performed is so obsequious that it really conveys dependence upon the other party for protection and support.

No one bows that low with any dignity and self respect left.

Mon, 11/16/2009 - 10:20 | 131673 Shameful
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So at what debt level will have Hillary give Hu Jintao a lap dance?

Mon, 11/16/2009 - 10:23 | 131677 Sqworl
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Queen Marla...I bow to you....;-)

Mon, 11/16/2009 - 11:10 | 131703 Rama V
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Ritual bowing is comparable to shaking hands with the added benefit of reduced risk of the spread of disease or infection. People showing signs of respect and civility is refreshing.

Mon, 11/16/2009 - 15:14 | 132122 Rama V
Rama V's picture

From your source: "Most commonly, they greet each other by bowing instead of handshaking." Do you not find civility refreshing?

Mon, 11/16/2009 - 15:49 | 132168 faustian bargain
faustian bargain's picture

there's a fine line between being respectful and being obsequious.

Mon, 11/16/2009 - 11:28 | 131752 gatopeich
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LOL. Thanks for one more great post, Marla.

Mon, 11/16/2009 - 11:33 | 131759 Anonymous
Anonymous's picture

Bowing is ritually similar to shaking hands. In shaking hands you are demonstrating that you are unarmed. In bowing you are exposing your neck to the sword demonstrating fealty and trust to a master, lord or someone of deep respect. A light bow shows that you do not fully trust the person you are meeting.

Mon, 11/16/2009 - 11:45 | 131778 spekulatn
spekulatn's picture

Swisssssshhhhhhh.

 

Great stuff, Ms. Marla. (You can't see, I know, but I am bowing like 'Bama)

 

"MARK IT ZERO, DUDE"

Mon, 11/16/2009 - 11:51 | 131789 Winisk
Winisk's picture

Anyone remember Wayne's World?  "We're not worthy."

Mon, 11/16/2009 - 12:45 | 131865 Anonymous
Anonymous's picture

HAHAHAH!!! Very nice Marla!!!:))

Mon, 11/16/2009 - 12:46 | 131872 bigdad06
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HAHAHAHAH!!!! Very nice Marla!!! I am bowing before you!!:))

Mon, 11/16/2009 - 12:54 | 131888 Anonymous
Anonymous's picture

Obama's bow was not reciprocated by the emperor. So much for a show of mutual respect.

Mon, 11/16/2009 - 13:30 | 131944 DaveyJones
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The biggest problem with bowing to Japan is the physical gesture

hard to get a handout when your palms are not exposed 

Mon, 11/16/2009 - 14:14 | 132017 Unscarred
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Be grateful that American leaders only have to bow.  Give it another two or three election cycles, and they'll be facing the other way, reaching down and grabbing their ankles:

http://www.zerohedge.com/article/power-debt#comment-132009

Mon, 11/16/2009 - 14:41 | 132069 DaveyJones
DaveyJones's picture

is that what they mean by turning the other cheek?

Mon, 11/16/2009 - 15:55 | 132182 Unscarred
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+1

Mon, 11/16/2009 - 14:16 | 132025 Unscarred
Unscarred's picture

Hey, don't forget this one:

January 8, 1992: President Bush becomes ill on a visit to Japan and vomits on Japanese Prime Minister Miyazawa Kiichi. While the footage was widely seen of Bush recovering from having emptied his ...

http://www.youtube.com/watch?v=XnOnDatqENo

Mon, 11/16/2009 - 20:45 | 132551 Rainman
Rainman's picture

yeech.....I remember that. The old man had one too many octopus eyes for breakfast, I guess.

Mon, 11/16/2009 - 14:58 | 132097 amanfromMars
amanfromMars's picture

Did nobody teach y'all, when in a hole, stop digging?  It is common sense to most folk.

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