Well Crap, Who Came Up With the Genius Plan to F^%k with the Chinese?

 Can toothpaste for dinner please stop being so funny?
and sadly relevant?

Seriously, poorly poorly thought out, people. I laughed when Tim Geithner had the audacity to say the Chinese were manipulating their currency but this pretty much tops all.


Business Week:

The latest push by U.S. lawmakers to target China’s currency policy may force President Barack Obama to take a stronger stance against how the yuan is valued, senators and analysts said.

Five senators including Charles Schumer of New York and Lindsey Graham of South Carolina introduced legislation yesterday to make it easier for the U.S. to declare currency misalignments and take corrective action. Even if the bill stalls, it may have “ripple effects” that lead the Treasury Department to declare China a currency manipulator, William Reinsch, president of the National Foreign Trade Council, said.

“I don’t have the sense that the congressional plan here is to legislate,” Reinsch said in an interview. “But addressing the issue is a high priority in Congress.”

Obama’s goal of doubling U.S. exports in five years depends on his ability to get China to raise the value of its currency, said Sherrod Brown, an Ohio Democrat and co-author of the legislation. China’s intervention in currency markets to keep the value of the yuan, or renminbi, at a set value acts as a subsidy to exports and tax on imports, Brown said at a news conference yesterday.

HAY GUYZ! Here's a genius observation: maybe if the yuan wasn't pegged to a crap dollar, this wouldn't be a problem. Those in glass houses shouldn't throw stones but those who owe $2 trillion shouldn't talk shit about how the credit card company handles their finances ifyouknowwhatImean.

First we politicize the hell out of the Fed (instant printing press! YAY!), then we have this large monstrous pair to swing around and go after China. I can't see any possible way this plan could backfire.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


Monstrous pair to swing around? lmao! Hmmm, Congress can't take responsibility for USA's finances being destroyed. Need someone to blame... I know, the Chinese! They are the cause of our problems! So, vote for me in November, not my fault.

Anonymous said...

they are human beings which means they are prone to folly also

"More than half a century ago, China’s first communist tyrant Mao Zedong said capitalism is nothing but a paper tiger. As visionary as he considered himself to be, the self-deifying dictator could never have thought his successors would ride on a balloon tiger, one that the regime has created and blown up so large that it will burst from the lightest poke. The tiger balloon is officially known as China’s real estate market."

My opinion - since they have spent decades pegging their currency to our own, wouldn't that make them a paper dragon of sorts?

paper dragon, paper tiger.... who's up for some origami and kung pao chicken?


Anonymous said...

and by the way, Mao was a freak - if he had high speed internet within the forbidden city he would have been surfing some hard core

- One of Mao's doctors referred to him bluntly as "a sex maniac."

are you sure I can't sell you that undercoating? - half price for you only today


Anonymous said...
Anonymous said...

you say bulle, I say bubble, bulle, bubble, let's call the whole thing off but Forbes as recently said in January there isn't one - who knows.