Hmmmnnn, the politicians are not happy with inexpensive socks, and wish to maintain economic power by getting own electorates back into sock factories converted from condos ?
I am ignoring the buzz, especially of the Washington sort, as lawyers in charge of systems and economies is a joke, and especially in the case of lawyers with no education in the history and economics.
In case it matters,
<<high time for the US to get tough with the Chinese>>
... and stop buying socks.
<<At 162 billion dollars, the US trade deficit with China>>
... is a creation of US companies owned by US shareholders, supplying to US consumers, and for that we must blame the Chinese sweating in factories.
Is the US political masters so bankrupt of good ideas, already, when the road to TeoTwawKi is still long ahead of us?
<<US textiles factories had 14,000 workers fewer in March compared to a year before>>
... and so the US wishes to get back into the sock-making business, leaving the PC making to IBM (aka Lenova)
<<China ... a free rein for too long to dump as many goods as it likes on the United States>>
... yes, and selling the same dumped stuff in the Chinese domestic market for even less.
<<Much the same grumbling was heard in the 1980s when Japan seemed set for global economic dominance>>
... yup, China will dominate the world by making more socks.
... with one big difference, we are not yet talking about cars, but only about socks, and China consumes more socks than Japan used cars. Also, Walmart is owned by Americans, whereas as Toyota is staked by the Japanese.
<<Tkacik, however, said any talk of China throwing global financial markets into havoc by dumping Treasuries in retaliation for US action on the trade front was "bluff and bluster from the Chinese">>
... I am not aware that Beijing said any such nonsense, which actually is an invention by the legally trained and economic-deficient politicians of America.
... I think American politicians wishing to buy fewer inexpensive socks is more of stupidity than bluff, even though it probably is more of a bluff.
Let me see, Chinese are supposed tosell socks to Americans at more expensive prices, and then burn the resultant accumulation of USD so as to not have to buy American Treasury bills and keep the RMB strong, even as the Chinese financial system is wobbly.
The American politicians are ... how shall we say ... naive is a kind word.
<<"It makes no sense to dump them as they'll just lose out massively themselves financially. And if they can't sell Treasury bonds, what else is there for them to do?" he said>>
... and so losing the same wealth by revaluation makes perfect sense ?!
<<China has reacted furiously to the mounting trade pressure but has stopped short of spelling out any tit-for-tat action it might take>>
... actually "ignored" is a more apt description.
Calling Tkacik and his ilk morons would be too politic, and imbiciles would be very indirect. So, perhaps we term them moronic imbeciles.
Entertained by their energy, though, wish they would divert some of same to making socks. LOL. Too funny. Must give their ilk ulcers. Love it. Hopping on my chair :0)
Chugs, J |
