Lotus Puppy
12-11-2005, 03:14
http://www.miami.com/mld/miamiherald/business/national/13138033.htm
The record numbers are unfathomable, but I am not worried the least bit about them. In a perfect world, the dollar would eventually devalue so that the deficit would narrow, and capital markets would ease the pain.
Yet this is not a perfect world. The trade deficit would provoke outrage from many special interest groups and protectionists in Congress. And that little but powerful group in Washington is inching closer to damning the world, and America, to hell.
It's frightening enough that such a trade-based state as New York (which I am a part of) would support an anti-trade wacko like Chuck Schumer for Senator. He has a bill floating around that would slap duties of 27.5% on China unless it appreciates its currency by that ammount. This assumes two things. One, China is a leech, even though it is the greatest growth engine of modern times. And two, the PRC should retain control of its currency, and not float it.
Scarier still is that it is gaining support in both Houses. Bipartisan support. They are united in hatred of the world, and in doing so, want to shun the very reasons America exists. Without foreign immigrants (like Schumer's Jewish ancestors) or trade, America would never exist. Let's stop the madness now. If you are an American, write to your Congressman or woman and tell them to end the insanity now!
The record numbers are unfathomable, but I am not worried the least bit about them. In a perfect world, the dollar would eventually devalue so that the deficit would narrow, and capital markets would ease the pain.
Yet this is not a perfect world. The trade deficit would provoke outrage from many special interest groups and protectionists in Congress. And that little but powerful group in Washington is inching closer to damning the world, and America, to hell.
It's frightening enough that such a trade-based state as New York (which I am a part of) would support an anti-trade wacko like Chuck Schumer for Senator. He has a bill floating around that would slap duties of 27.5% on China unless it appreciates its currency by that ammount. This assumes two things. One, China is a leech, even though it is the greatest growth engine of modern times. And two, the PRC should retain control of its currency, and not float it.
Scarier still is that it is gaining support in both Houses. Bipartisan support. They are united in hatred of the world, and in doing so, want to shun the very reasons America exists. Without foreign immigrants (like Schumer's Jewish ancestors) or trade, America would never exist. Let's stop the madness now. If you are an American, write to your Congressman or woman and tell them to end the insanity now!