....who needs a stinking job? (End of gallows humor & sarcasm.)
Off topic: Are you familiar with the "R language"? I had forgotten all about it but noticed it recently (R Project and others). Might be too gargantuan a task to use here, plus it is on a complex level.
(Be really neat to try interfacing it with the Processing language, though. Just an off-the-wall thought.)
Robert is right the data is there. I used Prof. Krugman as a quick reference. "Free trade" (oxymoron) has shown to NOT help everybody as it was sold to us.
First, China is not playing by the rules with targeting currency lower. Second, that HUGE thing aside, you are highly mistaken if you believe as taxpayers you are saving money by buying cheaper steel from China vs. US. There are opportunity costs and social costs (unemployment insurance) that go along with buying that cheaper steel from China vs. US that are NOT built into actual price. So don't think you are saving money as taxpayer by buying cheaper (IMHO inferior) steel.
Third, I never said anything about taxes going up and jobs. Your living costs are going up regardless of taxes, or the fact you shop at 'big box' store. But the major problem is that wage growth is stagnate. It is no longer true that the harder you work the more money you make - that idea was destroyed by Reaganomics (oops). So, what is replacing wage growth to support a certain standard of living is MORE DEBT.
We have no control over what China does or doesn't do with its currency. The point of the post is that it is NOT 'Free trade'. As for specifics you can search this site and others. I am certainly not going recite specifics in a comment.
China's deficit argument is trying to distract from what the rest of world is saying about it monetary policy.
Our mistake was years ago to think we would have "free trade" with an authoritarian government such as China.
and dare I say the focus of EP, I think regardless of what kind of data one believes everybody on here wants better and more jobs....heavy focus on the we need income, feel free to write up another post.
That's interesting and I think we need to dig much further into the benchmark and SA adjustments because I've been looking over all sorts of data points and this is just pure "scratch head" funky from the report alone.
I could use some more insight and frankly, if the WSJ and Bloomberg are noticing it, I think highlighting these is important, else we get just another MSM green shoot, feel good headline going on here.
I'm starting to feel real pissed at the BLS and DOL. I might come on here man, can you give an accurate view in simple English and numbers?
I mean, they focus on all of this statistical data from the 1960's, i.e. blacks, women, etc. all racial/sex demographics...
well, what about offshore outsourcing which is gravely affected everybody, not just traditional minorities here? We cannot get one piece of raw data about that! And....I know they count foreign guest workers in occupational statistics....let's see some citizen status demographics in these stats. Sorry but with global labor arbitrage I think this is relevant today.
I'm not saying to drop the other demographics...that's really important and whenever I see the Black stats, I am always like WTF, why in God's name are they having such a hard time? Now it looks like white male stats are looking bad and I don't think that's any great news for women....I think it's due to the perception that women are cheaper and more pliable, that jobs women are shoved into are usually the firing cannon fodder, lower wages types of jobs. (have to look at wage levels on this...)
anyway, you get my point, we are not getting raw data that would give a true accurate view and it's ridiculous in 2010.
My God, these cats literally get CPI by volunteers filling out, by hand, gobs of data....how ancient is that?
In other words, midtowng, please do write up another post, amplifying as far as I have gotten in the statistical dig, building off of it. The benchmarks, adjustments alone are a damn graduate student weekend homework assignment.
I was going to attack the unemployment report, but you've already done an efficient job of it. However, I can add this.
Private-sector figures could meanwhile be inflated by a seasonal quirk coming off a year of steep job cuts. January post-holiday employment typically falls by 2.6 million to 3.6 million, according to Goldman Sachs, leading to an unusually large upward seasonal adjustment for the month.
Since there was less retail hiring this holiday season, there could be less firing than usual. That could boost January's payrolls by more than half a million, Goldman economists say, based on similar episodes from the past.
Also, you already mentioned the 902K jobs revision, but you didn't mention what to expect in the future.
Lastly, and most notably, the number that will have to be whacked from the payroll report in 2011 retroactively is even larger: according to Bloomberg it will be at least 990,000. And this is only for 9 months in the current period.
In essence, a Moody's-like glitch has misrepresented the true payroll picture due to modelling error to the tune of over 1.8 million jobs.
Look, I've seen you post over and over again when China comes up on EP and I note, never do you have any broad statistics to refute the many stats, graphs, numbers, that are covered.
Now I linked to a major yearly report for the U.S.-China commission that is over 200 pages, which I overview. The statistics in that document make it quite clear China and their currency manipulation is hurting the U.S. economically and the middle class.
Trying to spin data you do not like as "ideological" is really calling the kettle black.
No, "printing dollars" per say does not devalue the currency because it's all about money velocity. What can and is a current problem is the carry trade, which we also have written about. Cheap money is borrowed into the U.S. and instead of invested in the U.S., is invested in EEs (emerging economies, China is classified as one, Brazil, India are the two other big ones), for a higher rate of return.
Where you are associating tax policy with China currency manipulation is beyond me. Has nothing to do with it.
Your costs might go up for a good but odds are not so much. You are missing the entire global supply chain costs, so if those manufactured goods are purchased from other suppliers, hopefully U.S. suppliers, that does not necessarily mean the costs go up.
And yes, that means you have a job. Manufacturing has shrank from ~15% to about 11% of GDP, service sector jobs have gone overseas and the real economic multiplier is high end jobs generate a good 15 additional jobs around them.
The reason China harps on the deficit/debt is because they own the most U.S. Treasuries AND they also own a huge percentage of GSE MBSes and related derivatives.
Therefore....if their currency is floated, their initial investment will dramatically decrease...
and their built in trade manipulations also go away. They have a 1.4 billion population, a massive workforce which is why they must have such absurd GDP numbers to employ all of those people....but the other reality is...if China developed it's own consumer economy and transition was gradual...they would be just fine and the U.S. sure would be way better off.
and of course you're missing an even bigger picture....the future of the U.S. is being offshore outsourced to China. That's advanced R&D, China is out (with dumping practices again) to dominate all alternative energy technologies AND China is also busy cornering the world's oil market.
It's just beyond belief confusing frankly and this is about the worst I've seen. A government statistic that people with economics degrees must turn around and parse, analyze for hours is not exactly clear intel to me.
I'm still looking at it all, I know something is wrong with this picture but the usual suspect, i.e. people just plain fell of the rolls and are not counted, I'm not quite finding it this time. It seems to be more with a host of adjustments.
The BLS warns that this month is a host of benchmark adjustments and I put that into this post, but I haven't learned yet what they all are and what's going on.
Yeah, I mean how did U6 go down when we don't have any new jobs?
Thank you for your polite response. I appreciate not being called “ridiculous”. However the problem with ‘back of the envelope” calculations is that you can’t get to much data on to the envelope (pun). At best one can come up with is anecdotes that ‘make sense’ but don't have generality.
So the cost of steel goes up and that’s good for steel workers. But, I’m a taxpayer and I have to pay for that steel so given the reality of today’s economy that does not sound so good. Also, I shop at ‘big boxes’ and unemployed so the cost of goods sold going up does not sound so good to me. But you say I will get a job if my taxes go up and my food and clothing cost go up which I buy from Wal-Mart.
So you’ve got your anecdote and I’ve go mine and you have the ‘mistakes’ as you see them with China policy historically which may be true I don’t know. But, you still have not come up with any generalized description of how the economy is going to change NOW for virtually everyone’ s benefit. If the exchange rate changes say 25% what is going to happen in terms of specific industries – who specifically will be affected both plus and minus. We can talk about what if we had done things differently but we are here and now.
Also, what about China’s argument in today’s Times that the problem is not exchange rates but the US deficits? Is that specious? Does printing dollars affect the value of dollars in other currencies?
I know this is a lot to get on an envelope (pun). But, I really think we (all us – nothing personal here) have to get beyond political and ideological clichés and anecdotes and get very specific about what actions to take and what specifically we expect to happen. Specific in terms of industries, taxes, cost of living…etc.
So when were they lying, earlier in the year when the million people were not counted or now?
"The revision on the increases in job losses means the U.S. lost 8.4 million jobs in this recession, when previously it was reported to be about 7.2 million (officially). "
I guess they really don't want us to peek at the U6 numbers!
The mouth organs are rolling today pronouncing the fantastical drop in unemployment. Some day's I really expect to see Alice and the March Hare running around.
"Have some wine,' the March Hare said in an encouraging tone.
Alice looked all round the table, but there was nothing on it but tea. `I don't see any wine,' she remarked.
`There isn't any,' said the March Hare"
The PTB expect us to believe the jobs are growing but there is nothing on the table.
Yes, a good section of lost manufacturing would probably return to the U.S. The reason is a floating Yuan would no longer enable the cost advantages and more importantly, the carry trade capital game, i.e. investing in only EEs at the costs of 1st world economies, would not pay out like it has.
Firstly, I think you need to read the many links. I've written up many details on China, with statistics and graphs, repeatedly. This is an Instapopulist, which is more of an update. this one and use Google site specific search. I'm not going to pull up every detailed post on trade and China and currency's on EP, it must be over 100.
It is estimated to improve U.S. jobs, manufacturing ~45%.
So, trying to somehow claim cheap Wal-mart is good for America is absolutely ridiculous, as evidenced by the declining U.S. middle class jobs, income, wealth...
somehow I do not believe a few cheap plastic items makes up for that.
As far as "Populist" struggling masses crap,you are clearly not reading this site. It's about overall trade deficits, improving U.S. manufacturing sector as ratio to GDP, increasing U.S. ave. wage/income...
A host of EIs that I've written about many times over.
The Renminbi is intentionally kept weak (particularly versus the dollar) by the Chinese government through various capital controls and interventions. They do this to protect their largely export driven economy.
The effect of keeping Renminbi lower versus dollar is that it makes Chinese exported goods cheaper worldwide but it also makes imported goods to China more expensive. This makes it very difficult for manufacturing companies in U.S. and abroad to compete with Chinese companies.
Take steel. San Francisco Bay Bridge is being rebuilt with Chinese steel not American. Why? Because its cheaper to import than U.S. steel (cheaper in terms of quality as well - IMHO). But this isn't good for American workers who are either idle or permanently unemployed.
As for cheap imports we get from big box store chains, yes, it helps but that as we found out has limits. Our willingness to allow China to fix the trade system in its favor is based on the idea of competition from overseas keeps labor costs low in U.S. - this translates into wage stagnation. What replaced wage growth was cheap imports and when price of cheap imports continued to increase (because big box store chains need to increase margins) what made up the difference - more consumer debt (NOT wage growth).
I’m only a sometimes reader of this blog. But, it seems that every time I do, there is something about China’s exchange rate and how that’s ‘costing American jobs’ but no specific scenarios. Perhaps I missed those articles and comments.
Specifically, what happens to the cost of China’s good sold at WalMarts. It seems that currency exchange rates affect those prices. So if the rate changes I assume that that there is a corresponding change in cost of goods purchased by a large number of Americans in the ‘struggling class’. Being “Populous’ I assume that you don’t want to put a burden on them.
And, what jobs will be created? Where will the ‘struggling class’ get jobs. Kodak and Xerox are big employers in my hometown will they be hiring if the exchange rate changes? The GM plants are long gone will they be coming back if the exchange rate is changed?
These are not rhetorical questions! Again, I would be interested in some specific ‘probability’ based predictions of how the struggling class will be affected if “Obama grows a pair”
Also, we will see soon if he does. Today’s NY Times reports that a China official on the record said: “forget about it”. So now what is your specific advice and on what should be done that will not increase the burden on the struggling class and indeed help them.
That's hilarious (in a dark humor way) how U.S. labor productivity "increases" as jobs are sent elsewhere. It would be interesting to see productivity measured in terms of value added. I bet it would be a downward slope.
Meanwhile 50% of the health bill is paid for by the government....yet....they cannot do the most obvious things...such as limit pharmaceuticals advertising budget and banning TV ads. The U.S. is getting screwed through the nose of costs in comparison to every other industrialized nation and they won't do a damn thing to confront those lobbyists.
But to me this pails as to what is on the line still to bail out the banks/housing.
On the other hand, Ritholtz has harped on the credit ratings agencies having way too much power (as we saw, this was the claim for the 100% CDS payout plus buying the CDOs OMG AIG might get downgraded!) and note they issue this report the evening the House raised the debt ceiling.
Even worse, the health care sector lobbyists tout jobs, i.e 1 in 6 jobs is in health care as the reason American should get so ripped off.
We have so much material on this site and I do plan to replace the site search to use a Google advanced search (which is way faster and more specific).
I found the link to this in the HuffPo piece linked earlier.
It seems very well thought out and squashes the Chinese pegging their currency to ours as a means to always stay cheaper without tariffs (although this is in effect a tariff)
Greece has been condemned by European officialdom for its huge deficits. "No government or state can expect from us any special treatment," comes the warning from Jean-Claude Trichet, president of the European Central Bank. But Trichet failed to note that there had long been a double standard – in effect two Maastricht treaties, one for the large and powerful countries, another for the smaller and less powerful. When France broke the EU edict not to let debt [sic - budget] exceed 3% of GDP, there were strong words, but little else.
....who needs a stinking job? (End of gallows humor & sarcasm.)
Off topic: Are you familiar with the "R language"? I had forgotten all about it but noticed it recently (R Project and others). Might be too gargantuan a task to use here, plus it is on a complex level.
(Be really neat to try interfacing it with the Processing language, though. Just an off-the-wall thought.)
Robert is right the data is there. I used Prof. Krugman as a quick reference. "Free trade" (oxymoron) has shown to NOT help everybody as it was sold to us.
First, China is not playing by the rules with targeting currency lower. Second, that HUGE thing aside, you are highly mistaken if you believe as taxpayers you are saving money by buying cheaper steel from China vs. US. There are opportunity costs and social costs (unemployment insurance) that go along with buying that cheaper steel from China vs. US that are NOT built into actual price. So don't think you are saving money as taxpayer by buying cheaper (IMHO inferior) steel.
Third, I never said anything about taxes going up and jobs. Your living costs are going up regardless of taxes, or the fact you shop at 'big box' store. But the major problem is that wage growth is stagnate. It is no longer true that the harder you work the more money you make - that idea was destroyed by Reaganomics (oops). So, what is replacing wage growth to support a certain standard of living is MORE DEBT.
We have no control over what China does or doesn't do with its currency. The point of the post is that it is NOT 'Free trade'. As for specifics you can search this site and others. I am certainly not going recite specifics in a comment.
China's deficit argument is trying to distract from what the rest of world is saying about it monetary policy.
Our mistake was years ago to think we would have "free trade" with an authoritarian government such as China.
RebelCapitalist.com - Financial Information for the Rest of Us.
and dare I say the focus of EP, I think regardless of what kind of data one believes everybody on here wants better and more jobs....heavy focus on the we need income, feel free to write up another post.
That's interesting and I think we need to dig much further into the benchmark and SA adjustments because I've been looking over all sorts of data points and this is just pure "scratch head" funky from the report alone.
I could use some more insight and frankly, if the WSJ and Bloomberg are noticing it, I think highlighting these is important, else we get just another MSM green shoot, feel good headline going on here.
I'm starting to feel real pissed at the BLS and DOL. I might come on here man, can you give an accurate view in simple English and numbers?
I mean, they focus on all of this statistical data from the 1960's, i.e. blacks, women, etc. all racial/sex demographics...
well, what about offshore outsourcing which is gravely affected everybody, not just traditional minorities here? We cannot get one piece of raw data about that! And....I know they count foreign guest workers in occupational statistics....let's see some citizen status demographics in these stats. Sorry but with global labor arbitrage I think this is relevant today.
I'm not saying to drop the other demographics...that's really important and whenever I see the Black stats, I am always like WTF, why in God's name are they having such a hard time? Now it looks like white male stats are looking bad and I don't think that's any great news for women....I think it's due to the perception that women are cheaper and more pliable, that jobs women are shoved into are usually the firing cannon fodder, lower wages types of jobs. (have to look at wage levels on this...)
anyway, you get my point, we are not getting raw data that would give a true accurate view and it's ridiculous in 2010.
My God, these cats literally get CPI by volunteers filling out, by hand, gobs of data....how ancient is that?
In other words, midtowng, please do write up another post, amplifying as far as I have gotten in the statistical dig, building off of it. The benchmarks, adjustments alone are a damn graduate student weekend homework assignment.
I was going to attack the unemployment report, but you've already done an efficient job of it. However, I can add this.
Also, you already mentioned the 902K jobs revision, but you didn't mention what to expect in the future.
Look, I've seen you post over and over again when China comes up on EP and I note, never do you have any broad statistics to refute the many stats, graphs, numbers, that are covered.
Now I linked to a major yearly report for the U.S.-China commission that is over 200 pages, which I overview. The statistics in that document make it quite clear China and their currency manipulation is hurting the U.S. economically and the middle class.
Trying to spin data you do not like as "ideological" is really calling the kettle black.
No, "printing dollars" per say does not devalue the currency because it's all about money velocity. What can and is a current problem is the carry trade, which we also have written about. Cheap money is borrowed into the U.S. and instead of invested in the U.S., is invested in EEs (emerging economies, China is classified as one, Brazil, India are the two other big ones), for a higher rate of return.
Where you are associating tax policy with China currency manipulation is beyond me. Has nothing to do with it.
Your costs might go up for a good but odds are not so much. You are missing the entire global supply chain costs, so if those manufactured goods are purchased from other suppliers, hopefully U.S. suppliers, that does not necessarily mean the costs go up.
And yes, that means you have a job. Manufacturing has shrank from ~15% to about 11% of GDP, service sector jobs have gone overseas and the real economic multiplier is high end jobs generate a good 15 additional jobs around them.
The reason China harps on the deficit/debt is because they own the most U.S. Treasuries AND they also own a huge percentage of GSE MBSes and related derivatives.
Therefore....if their currency is floated, their initial investment will dramatically decrease...
and their built in trade manipulations also go away. They have a 1.4 billion population, a massive workforce which is why they must have such absurd GDP numbers to employ all of those people....but the other reality is...if China developed it's own consumer economy and transition was gradual...they would be just fine and the U.S. sure would be way better off.
and of course you're missing an even bigger picture....the future of the U.S. is being offshore outsourced to China. That's advanced R&D, China is out (with dumping practices again) to dominate all alternative energy technologies AND China is also busy cornering the world's oil market.
It's just beyond belief confusing frankly and this is about the worst I've seen. A government statistic that people with economics degrees must turn around and parse, analyze for hours is not exactly clear intel to me.
I'm still looking at it all, I know something is wrong with this picture but the usual suspect, i.e. people just plain fell of the rolls and are not counted, I'm not quite finding it this time. It seems to be more with a host of adjustments.
The BLS warns that this month is a host of benchmark adjustments and I put that into this post, but I haven't learned yet what they all are and what's going on.
Yeah, I mean how did U6 go down when we don't have any new jobs?
Thank you for your polite response. I appreciate not being called “ridiculous”. However the problem with ‘back of the envelope” calculations is that you can’t get to much data on to the envelope (pun). At best one can come up with is anecdotes that ‘make sense’ but don't have generality.
So the cost of steel goes up and that’s good for steel workers. But, I’m a taxpayer and I have to pay for that steel so given the reality of today’s economy that does not sound so good. Also, I shop at ‘big boxes’ and unemployed so the cost of goods sold going up does not sound so good to me. But you say I will get a job if my taxes go up and my food and clothing cost go up which I buy from Wal-Mart.
So you’ve got your anecdote and I’ve go mine and you have the ‘mistakes’ as you see them with China policy historically which may be true I don’t know. But, you still have not come up with any generalized description of how the economy is going to change NOW for virtually everyone’ s benefit. If the exchange rate changes say 25% what is going to happen in terms of specific industries – who specifically will be affected both plus and minus. We can talk about what if we had done things differently but we are here and now.
Also, what about China’s argument in today’s Times that the problem is not exchange rates but the US deficits? Is that specious? Does printing dollars affect the value of dollars in other currencies?
I know this is a lot to get on an envelope (pun). But, I really think we (all us – nothing personal here) have to get beyond political and ideological clichés and anecdotes and get very specific about what actions to take and what specifically we expect to happen. Specific in terms of industries, taxes, cost of living…etc.
So when were they lying, earlier in the year when the million people were not counted or now?
"The revision on the increases in job losses means the U.S. lost 8.4 million jobs in this recession, when previously it was reported to be about 7.2 million (officially). "
I guess they really don't want us to peek at the U6 numbers!
The mouth organs are rolling today pronouncing the fantastical drop in unemployment. Some day's I really expect to see Alice and the March Hare running around.
"Have some wine,' the March Hare said in an encouraging tone.
Alice looked all round the table, but there was nothing on it but tea. `I don't see any wine,' she remarked.
`There isn't any,' said the March Hare"
The PTB expect us to believe the jobs are growing but there is nothing on the table.
Yes, a good section of lost manufacturing would probably return to the U.S. The reason is a floating Yuan would no longer enable the cost advantages and more importantly, the carry trade capital game, i.e. investing in only EEs at the costs of 1st world economies, would not pay out like it has.
Firstly, I think you need to read the many links. I've written up many details on China, with statistics and graphs, repeatedly. This is an Instapopulist, which is more of an update. this one and use Google site specific search. I'm not going to pull up every detailed post on trade and China and currency's on EP, it must be over 100.
It is estimated to improve U.S. jobs, manufacturing ~45%.
So, trying to somehow claim cheap Wal-mart is good for America is absolutely ridiculous, as evidenced by the declining U.S. middle class jobs, income, wealth...
somehow I do not believe a few cheap plastic items makes up for that.
As far as "Populist" struggling masses crap,you are clearly not reading this site. It's about overall trade deficits, improving U.S. manufacturing sector as ratio to GDP, increasing U.S. ave. wage/income...
A host of EIs that I've written about many times over.
The Renminbi is intentionally kept weak (particularly versus the dollar) by the Chinese government through various capital controls and interventions. They do this to protect their largely export driven economy.
The effect of keeping Renminbi lower versus dollar is that it makes Chinese exported goods cheaper worldwide but it also makes imported goods to China more expensive. This makes it very difficult for manufacturing companies in U.S. and abroad to compete with Chinese companies.
Take steel. San Francisco Bay Bridge is being rebuilt with Chinese steel not American. Why? Because its cheaper to import than U.S. steel (cheaper in terms of quality as well - IMHO). But this isn't good for American workers who are either idle or permanently unemployed.
As for cheap imports we get from big box store chains, yes, it helps but that as we found out has limits. Our willingness to allow China to fix the trade system in its favor is based on the idea of competition from overseas keeps labor costs low in U.S. - this translates into wage stagnation. What replaced wage growth was cheap imports and when price of cheap imports continued to increase (because big box store chains need to increase margins) what made up the difference - more consumer debt (NOT wage growth).
Prof. Krugman did a back of the envelope calculation that the effects of Chinese monetary policy has cost 1.4 million jobs.
RebelCapitalist.com - Financial Information for the Rest of Us.
I’m only a sometimes reader of this blog. But, it seems that every time I do, there is something about China’s exchange rate and how that’s ‘costing American jobs’ but no specific scenarios. Perhaps I missed those articles and comments.
Specifically, what happens to the cost of China’s good sold at WalMarts. It seems that currency exchange rates affect those prices. So if the rate changes I assume that that there is a corresponding change in cost of goods purchased by a large number of Americans in the ‘struggling class’. Being “Populous’ I assume that you don’t want to put a burden on them.
And, what jobs will be created? Where will the ‘struggling class’ get jobs. Kodak and Xerox are big employers in my hometown will they be hiring if the exchange rate changes? The GM plants are long gone will they be coming back if the exchange rate is changed?
These are not rhetorical questions! Again, I would be interested in some specific ‘probability’ based predictions of how the struggling class will be affected if “Obama grows a pair”
Also, we will see soon if he does. Today’s NY Times reports that a China official on the record said: “forget about it”. So now what is your specific advice and on what should be done that will not increase the burden on the struggling class and indeed help them.
That's hilarious (in a dark humor way) how U.S. labor productivity "increases" as jobs are sent elsewhere. It would be interesting to see productivity measured in terms of value added. I bet it would be a downward slope.
http://jims-blog.com
Moody's should have a credibility problem but we easily forget:
How Moody's sold its ratings - and sold out investors
RebelCapitalist.com - Financial Information for the Rest of Us.
Meanwhile 50% of the health bill is paid for by the government....yet....they cannot do the most obvious things...such as limit pharmaceuticals advertising budget and banning TV ads. The U.S. is getting screwed through the nose of costs in comparison to every other industrialized nation and they won't do a damn thing to confront those lobbyists.
But to me this pails as to what is on the line still to bail out the banks/housing.
On the other hand, Ritholtz has harped on the credit ratings agencies having way too much power (as we saw, this was the claim for the 100% CDS payout plus buying the CDOs OMG AIG might get downgraded!) and note they issue this report the evening the House raised the debt ceiling.
Even worse, the health care sector lobbyists tout jobs, i.e 1 in 6 jobs is in health care as the reason American should get so ripped off.
gotta asst. Treas. sec. whistleblowing on Obama and principle reduction.
You gotta read this one because you are going to feel validated on some past posts you wrote.
China, the ultimate Protectionist.
We have so much material on this site and I do plan to replace the site search to use a Google advanced search (which is way faster and more specific).
I found the link to this in the HuffPo piece linked earlier.
It seems very well thought out and squashes the Chinese pegging their currency to ours as a means to always stay cheaper without tariffs (although this is in effect a tariff)
http://money.cnn.com/magazines/fortune/fortune_archive/2003/11/10/352872...
A principled Europe would not leave Greece to bleed
RebelCapitalist.com - Financial Information for the Rest of Us.
is the Euro and the fact that not countries are equal.
Having sovereign currency that floats matters.
RebelCapitalist.com - Financial Information for the Rest of Us.
what do they have in common - pegged currency to dollar instead of floating it.
RebelCapitalist.com - Financial Information for the Rest of Us.
Pages