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Politics : View from the Center and Left
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To: JohnM who wrote (144091)9/13/2010 3:02:18 PM
From: Steve Lokness  Read Replies (1) of 541457
 
You see, senior American policy figures have repeatedly balked at doing anything about Chinese currency manipulation, at least in part out of fear that the Chinese would stop buying our bonds.

Eee,yiyah! The evil of running deficits. Even the Bible has the good sense to understand ...... The borrower is slave to the lender. When you are in debt to another, you enter into a slave/master relationship with your creditor. (Proverbs 22:7)
 .......Now if they understood that as long as as this why can't we understand it today?

America has become a slave to China - nobody wants to admit that, but that is exactly what has happened. And krugman wants China to just give up their position as masters? Like complaining about it is going to work? What will work is to get out of the position of being a slave.

Consider a related issue: the clearly illegal subsidies China provides to its clean-energy industry.

The absurdity of this comment by Krugman shouldn't even need a comment. Krugman wants the biggest stimulus in the world but then has the gall to attack China for their stimulus to clean-energy? What makes him tick? China is doing what we should be doing to save the world from GW. But instead he complains about some currency manipulation? Goodness, good for China! We could and SHOULD do the same thing.

Steve
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