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

To: Hawkmoon who wrote (88452)	3/27/2012 3:26:47 AM
From: elmatador	Respond to of 217865

Hu Tells Obama Yuan Rise Won’t Fix U.S., and called instead for the U.S. to end limits on high-tech exports. Hu Tells Obama Yuan Rise Won’t Fix U.S. By Bloomberg News on March 26, 2012 Chinese President Hu Jintao told U.S. President Barack Obama that even a “large” appreciation of the yuan won’t solve the U.S. economy’s problems, and called instead for the U.S. to end limits on high-tech exports. Hu, when meeting Obama in Seoul yesterday, reiterated China’s view that the yuan doesn’t cause the U.S. trade deficit and unemployment, according to a statement on the Foreign Ministry Website. The yuan’s effective exchange rate has gained 30 percent since the link to the dollar ended in 2005, he said. China plans to “let the market play a greater role, improve the flexibility of the yuan exchange rate, and maintain a basic stability of the rate at reasonable and balanced levels,” Hu said. China had its largest trade deficit since at least 1989 last month as Europe’s debt crisis damped exports. Premier Wen Jiabao has pledged to allow greater two-way movement in the yuan’s exchange rate. Yi Gang, a deputy governor of the Chinese central bank, said March 25 at a forum hosted by the Caixin media group that the yuan’s appreciation will ease as China deepens changes to the exchange-rate mechanism, according to a transcript of his speech posted on the Caixin’s website. Hu called on the U.S. to “take practical steps” to ease limits on exports of high-technology products to China to promote trade balance, according to the ministry’s statement. According to the statement, Obama said the U.S. is taking efforts to resolve the export-limit issue and he welcomes Chinese companies’ investment infrastructure and industries. Hu expressed “worry” about North Korea’s satellite launch and the situation in the Korean Peninsula, according to the statement. He said he hopes that the U.S. and North Korea will continue talks, it said. To contact Bloomberg News staff for this story: Victoria Ruan in Beijing at vruan1@bloomberg.net; Regina Tan in Beijing at rtan87@bloomberg.net To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

To: Hawkmoon who wrote (88452)	3/27/2012 4:48:02 AM
From: teevee	Respond to of 217865

In my layman's view, the original common law idea behind the spirit of the law, was so judges could use discretion when unforeseen circumstances, allowed for a legal decision contrary to the letter of the law and without undermining the law, or in the case of changing or evolving social norms, allowed for legal decision as an exception to the letter of the law and more importantly as a precedent for legislators to take under consideration. This actually allowed laws to evolve with ongoing changes in social norms etc. The spirit of the law, was also to ensure that deliberately harmful acts and the perpetrators who committed them, but within the letter of the law, could still be judged against under the spirit of the law. Another historical perspective on this is that our forefathers were well aware of the failings of the letter of the law. One of the others ways this was countered was to include the study of ethics in higher education, the reason being that without ethics, our universities graduate barbarians in pin striped suits with the knowledge and skills to plunder society and the economy. Interestingly, soon after ethics were dropped from curriculums, corporations that traditionally invested in human capital through training and benefits including health insurance, dental and retirement plans, the communities they operated in, research and development, and kept retained earnings to get through economic down turns, became the target of "green mail" by the likes of T. Boone Pickens and other Wall Street sharpies who took a short term view with the knowledge these companies were worth more (cash) dead than alive, by buying control, breaking them up, closing down research and development, deferring or stopping renewal of equipment and facilities, over leveraging the balance sheets, and throwing many people out of work, thereby enriching themselves at the expense of workers, communities, reducing or eliminating the taxes healthy corporations pay on many levels of gov't and weakening the long term sustainability and viability of the economy. Bad behavior cannot be legislated against and ethics are learned. All democracies and a large middle class are at risk until judicial discretion in keeping with the spirit of the rule of law is restored so Wall Street barbarians can be brought to heel. Perhaps ethics should also be restored to curriculums as well.