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Currency Wars: The Making of the Next Global Crisis

David482 Wrote: Apr 29, 2012 11:16 AM

Joe145, the Chinese are already our enemy. It's better to do the manafacturing here and put our people to work. Deport all illegal aliens and their families. Balance the budget by getting our people off welfare, working and paying taxes...I agree that the unions are a problem. Do like FDR suggested, ban all government unions and the bad economy will deal with the private sector unions.

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Currency Wars: The Making of the Next Global Crisis

The talk is all about jobs, jobs, jobs in Washington and on the campaign trail as the unemployment rate continues to be elevated and long-term unemployment is higher than ever. Since getting government out of the way isn't an option, late last year congressional leaders decided to turn up the volume while crying that American workers are being damaged by China's undervalued currency — the renminbi (or yuan).

Bipartisan support was summoned to declare China a currency manipulator, triggering retaliatory tariffs on Chinese imports in hopes that China would allow the renminbi to rise against the dollar.

Scott Paul, who heads...