Monday, May 14, 2007

Investigative Journalism

Both parties are winking and nodding and giggling behind your back that the way to save jobs is to change the value of China’s money. It’s a brilliant cover for the bi-partisan banging the American worker received with the one-two punch of NAFTA and ‘Most Favored Nation’ trade status for China. There are 700 Wal-Mart plants in China — zero in the USA. Hillary Clinton was on the board of Wal-Mart when that shift went into full swing. No wonder she’s joining George Bush in talking about baloney like “exchange rates.”
source

This whole interview is interesting.

1 comment:

Greyhair said...

There is also the other issue of money expansion/credit expansion which has allowed Americans to overconsume. The lack of U.S. savings has fueled the Chinese expanison. The whole trade imbalance occurs for two real reasons: oil and excessive consumerism.