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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: foundation who wrote (18725)	5/24/2007 9:34:50 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 218617

In case nobody has noticed, Uncle Al KBE spent a couple of decades managing the value of the US$ and Big Ben, aka "Helicopter Ben" has taken over managing the US$'s value. It's ridiculous to whine about China doing the same thing with the yuan, [renminbi is too hard to spell, even in english]. <<U.S. unhappiness over China's practice of managing its currency's value has overshadowed the many issues on the table> People do get excited about money and have trouble understanding it except they want to get a lot of it and politicians like to get OPM. All fiat currencies are managed, with interest rates being moved up and down, and more or less of the stuff being printed each day. China, not very surprisingly, does the same. Getting all steamed up because China isn't doing what USA politicians want is absurd. More hilarity: < -- from food safety to copyrights and air routes -- because it is seen as the root cause of a huge and growing U.S. trade deficits with China that hit a record $233 billion last year.> Food safety is of course a major issue and I am reluctant to buy food Made in China and a long-time product I eat I just found a week or so ago is Made in China and it's only because it's made by Sanitarium that I think they will have good controls on quality. Copyright and patents are also major issues with people in China ignoring intellectual property rights. But worrying about the USA trade deficit is strange. The world's economic system isn't one of two way trade. People are buying and selling all over the map. USA buys from China, China buys from Japan, Japan buys from Saudi Arabia, Saudi Arabia buys from USA. The money goes around happily. Trade is balanced. It's very simple. It doesn't matter that any two have or don't have balanced trade with each other. Trade is flowing in an infinite array of directions. Air routes is another ridiculous matter. Just unilaterally let anyone fly in if they like, bidding for landing slots, and meeting safety rules of course. If the other country won't let a particular airline fly in, that's the country's problem. The old idea of having "national" airlines flying the flag is dopey. If China only allows airlines owned in China to fly to China, that's their problem. People who don't want to go on those airlines will give them and China a miss. China's loss. Mqurice