Ben Bernanke, the newly appointed chairman of President George W. Bush's Council of Economic Advisers. "We probably have little choice except to be patient as we work to create" the necessary conditions for a reversal of roles, he said in a recent speech.
Mr. Bernanke is saying that the situation is such (China, trade imbalance, dollar fluctuation, etc.) that there is little we can do about it except wait until the market corrects things. All the government moves you and others are suggesting will only do what government intervention in a free market always does, screw it up. CAFTA is another step toward free trade and letting the market operate.
You surely don't thing Bush would appoint someone who disagreed with him do you? Here is part of the President's speech at the appointment ceramony.
In this new century, American prosperity will increasingly depend on our ability to sell our goods and services overseas. We need to pass CAFTA, the Central American-Dominican Republic Free Trade Agreement to show the world our commitment to free and fair trade, and to stand squarely with those young democracies in our own hemisphere.
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