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To: Perspective who wrote (240944)	3/15/2010 12:38:49 PM
From: DebtBomb	Respond to of 306849

"That idiot Krugman is blathering on now that it is the U.S. that has China over a barrel" LOL. dumbfukistan Azzholes are everywhere. China gives us $2 billion dollars a day just to keep our sorry azzes afloat. I say go ahead....fuk with China....and see what happens.

To: Perspective who wrote (240944)	3/15/2010 1:42:53 PM
From: James Hutton	Read Replies (4) \| Respond to of 306849

"It's true that if China dumped its U.S. assets the value of the dollar would fall against other major currencies, such as the euro. But that would be a good thing for the United States, since it would make our goods more competitive and reduce our trade deficit. On the other hand, it would be a bad thing for China, which would suffer large losses on its dollar holdings.In short, right now America has China over a barrel, not the other way around." It's one thing to say the value of our currency falling would be good for us. But wouldn't it have to fall a huge amount to make our labor costs competitive with China's - a really HUGE amount? Not that it won't happen, but we seem to be talking either a really long time, or a really precipitous, off-the-cliff drop that would have negative consequences well beyond making our exports more competitive.