The bipartisan measure, which merges earlier efforts to change the currency law, aims to end what the lawmakers said was Beijing's deliberate efforts to keep the yuan cheap to subsidize exports and tax imports. [ID:nN16248922].
The new bill increases pressure on the Obama administration to declare Beijing a currency manipulator in April when a semiannual currency report is due from the U.S. Treasury Department. Under an existing 1988 law, such a move would require the Treasury to begin "expedited" negotiations with China to adjust its currency.
More Here..
Gee, do you think China is not adjusting their currency because they think we are lying or that we are so severely overextended that our currency is not "really as high as it appears?" This could be the beginning of a little truth letting. The Chinese may be about to call the world's bluff about the U.S. currency.
ReplyDeleteThis may be the push needed to get hyperinflation started post haste. That leaves you just a a couple of weeks to get your groceries bought folks especially if you are on a tight budget. The upper middle incomers will just have to skip the extra tank of gas for their 4 wheeler or boat to buy their $7.00 a loaf for bread.
This is big folks. Pay attention to this one and get ready.
ReplyDeleteOf course "Uncle Ben" just stated again to keep interest rates "low" for yet another "extended" time. While the MF's on CNBC are going spastic with the "stock maaaaaket" bucking the trend, and pissin in their panties at the DOW 11K.
ReplyDeleteI can't wait for the "boooya boy" to push more of his crap, while the other one will jump right on how his seeds are growin again. All the while low level savers are gettin racked as usual, and with most "consumer " items going up, which most of are not even counted in the CPI, along with higher utilities and medical costs, are forced to dig into what savings are left to pay these so called "deflation" prices, until its gone and THAN all sudden its time to raise the Interest rates.
I guess those new Iphones and G4's are a deal at 500 bucks a pop.
WTF? The US dollar is worth sh#t because a mountain of it is printed every day, and other countries are expected to revalue THEIR currencies so things don't look so bad? I think China should demand that the US dollar be revalued to reflect it's actual worth - squat!
ReplyDeleteMy gut tells me that China's view of the U.S. is souring mainly because they can see that we're picking backing certain Constitutional mandates when it best fits us and ignoring others when a special interest overrides it. In effect, the Constitution due to the stability it once provided was China's 'ace in the hole' by inherently reducing risk to them through mitigating the chances of unforeseen unlawful surprises.
ReplyDeleteNow that that risk cushion is pretty much gone as witnessed for example by how things were handled with health care, or how our Fed's actions vis-a-vis the lack of Congress' constitutional actions to the contrary, they don't know what we're capable of doing next with that parchment rudder getting kicked out of the way and ignored with each passing day.
Yes, the Chinese are nervous. And I don't blame them. We're acting more like them and they don't like it.
Talking to fictitious people?
ReplyDelete12:53 is xenophobic.
ReplyDeleteTo: Amelica
ReplyDeleteFluck lou.
Most Respecfully,
China
@Timothy P,
ReplyDeleteTo make a small revision; most Americans no matter what ethnicity do not want any of what is being forced on us.
-------------------------------------------------------
ReplyDeleteConfucius says: Country that owes China a great deal, would be wise
to make no demands.
-------------------------------------------------------
I go along with Stalins definition of a nation myself , as a good starting point to understand nation .
ReplyDelete“A nation is a stable community of people historically constituted through a lengthy course of systematic intercourse. This community of people shares a common language, a common territory, a common economic life, and a common psychological makeup manifested in a common culture.”
A bit less subjective than some definitions. Short and sharp and “race” doesn’t seem to enter into it , a common economic life seems to cover a shared internal market and also
seems to cover the reason for fighting the U..S. Civil War. To preserve the Union-a common economic life as that war turned into a war for strenthening the wage slavery capitalist system and abolishing racial slavery.
Now,the “common psychological makeup “ in the U.S. appears to be an individualist advantage in profit, "me first" , ideology not the old
work ethic or social values in the "common economic life".
Like Peter Schiff said last year, this may be a global meltdown but the Chinese will come out of it way higher than us. Their standard of living in respect to ours will soar. When us sloths finally see what is happening it will be far too late. Time for basket on head, club a rat.
ReplyDeleteServes us right; we exported all the technology;
ReplyDeleteinnovation and raw materials to china
They then export " stuff" back to us
Excellent !
looks like it's starting before summer. was hoping I'd have till fall.
ReplyDelete6:20
ReplyDeleteIt's not the Fall that gets you
It's the sudden stop at the bootom
I do not remember what President said this "The experiment in China is going well", but I think it was from 1940ish. This can all be a head fake to give more division amongst us all.
ReplyDeleteNow that manufactured goods generally come to us as imports, made in countries with undervalued currencies, were going to force them into inflate the price of the goods?
ReplyDeleteI;m afraid we exported our inflation for the past twenty years, and soon enough we will have to take our medicine with some nasty inflation.
There is a certain amount of populist noise, bluff and standover in all this. American capitalists and the finance system have forgotten how to make a real profit from U.S. manufacturing and physical wealth production . The multi-nationals source their manufacturing offshore and realise their cash profits in Wall-Mart.
ReplyDeletePre-crisis ,in recent years , the rich and the banksters of globalism, the finance sector, provided 40% of all U.S. profits and that formed a large portion of the stock market valuation, as the shares were valued on the expectation that the profits would continue , P/E - as multiples of expected future profits.
But the “profits” of America and the finance sector were ALL made on borrowed foreign credit , from mortgage fees and by bundling up debts as AAA bonds for sale to suckers and from profiting from cheap third world labor.
Lots of ordinary americans hope to see a return of productive industry to America and hope that by kicking the Chinese currency down the jobs good times will simply return .These ordinary Americans do not control the American economy.
But the banksters only want “recovery” on their own terms to what they know , a return to the profitable globalist free trade system that made them so much profit. And as I say they have forgotten how to make money except thru globalist economics .And they are the ones who control the American economy.
Do you think they worry about American jobs for subsidised unproductive for capital U.S workers? They only want recovery not change .