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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (54809)2/27/2006 1:48:47 PM
From: Ramsey Su  Read Replies (2) of 110194
 
It is interesting that we focused so much on this yuan manipulation.

That reminded me of the story of a boxer (I think it was Archie Moore) who killed an opponent in the ring. Appearing in court, the judge asked the boxer if he had intended to harm his opponent. The boxer's reply - That is my job. (you boxing fans feel free to correct my version of this story)

Back to FCBs and finance ministers, is there any question that the intent is to manipulate whatever they can manipulate to their advantage? Isn't that what we do also?

Pertaining to the yuan, it is obvious that our politicians got yen and yuan mixed up. Yen had been kept down via a zero interest rate policy. US trade imbalance with Japan is far easier to fix because the economies are much closer and Japanese consumers can easily afford US made products while the Chinese are still far far behind. Yet, we have not heard a pip squeak about yen manipulation from Snow or Schumer. Actually, I doubt if Schumer knows the difference between yuan and yen.

In either case, we can bitch and moan about this manipulation all we want but in the end, if we have no manufacturing left, we are setting the foundation of higher and higher trade deficits, not lower.
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