I just read in the New York Times that our new Treasury secretary made the statement the China is manipulating it currency. The point here is not even whether or not China is manipulating its currency.
In my humble opinion, even if China is manipulating its currency (keeping the value low so as to make its exports cheaper and thus more competitive) there is nothing that America can do about it. Unless the new administration wants to start a trade war (using tariffs) with China, and really bring about a second Great Depression, then what is the point in says such antagonizing stuff? All saying stuff like this does is make America's nativists/ nationalists feel good and antagonize the Chinese government, who (if the Treasury Secretary needs reminding) are the people who are lending us so much of the money in our debt and who we are hoping will continue to lend to us to pay for Obama's ambitious (and much needed) stimulus package.
All it is is bluster, stupid bluster, from a tax dodging dumb-ass. He may be a great economic mind who will pull the US out of its current economic crisis. And well, he better be, cause I know that I'm going to have to hear all about his stupid remarks from people complaining to me here. So, thanks a lot Timmothy, how about you pay your taxes and think before you open your mouth.
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