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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (216245)	1/28/2005 7:20:09 AM
From: Road Walker	Read Replies (1) of 1584934

re: The currency issue is a minor one, as if China was behaving just because they pegged their currency to ours. The currency issue is anything but minor. The only reason we are a military superpower is because we are an economic superpower. Right now we have record deficit and trade imbalances, both in real numbers and percent of GDP. Those imbalances have to be unwound; it's when not if. The fact that the rest of the world, holding a large percentage of our debt, is turning against us for our political arrogance and fiscal irresponsibility means that it could happen very quickly. US economic strength is not a God given right. Fiscal discipline (sometimes more, sometimes less) has been the reason we have been successful competing in the world economy. That's gone, and the countries that hold our purse strings are increasingly viewing us as dangerous at best and an enemy at worst. It's not a minor problem. John

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