I don't know who Cassel is, but he did raise a valid point. You are a portly protectionist. I would have chosen another 'p' word to keep with the alliteration. I would have substituted "populist" for "pompous."
Posted on 08/28/2005 10:43:24 PM PDT by F14 Pilot
Every so often, a member of the economic orthodoxy decides to attack me personally in print. Today I'd like to address a column in The Philadelphia Inquirer, with this question as its lead: "Will China's decision to unpeg its currency to the U.S. dollar make Lou Dobbs shut up?"
This was written by a nasty piece of business by the name of Andrew Cassel, who calls me "pompous," "portly" and a "protectionist."
First, let me answer Cassel's question: No, it won't. By the way, Andrew, bad timing. The People's Bank of China now says that the 2 percent revaluation of its currency is a one-time deal. Now, we'll see whether that turns out to be the truth, but either way, it ain't enough. Nor will it be to salve our projected $170 billion deficit this year with China. And Treasury Secretary John Snow, who hails this revaluation, can't say with any specificity at all what U.S. exports to China could possibly benefit.
And Andrew complains that in every report on this broadcast, as well as in the interviews and commentary, that I bash China and demand that America get tough with China. No bashing, Andrew, unless you consider my reference to China as a Communist, authoritarian nation as bashing. I notice, instead, you call China quote, "A country with one-party rule, a weak legal system, poor environmental record, and so on."
As to "get tough," Andrew: I'm guilty as charged. If we don't demand a reciprocal trade relationship with China, there is absolutely no limit to our potential deficit.
I want expanded U.S. trade with China, it's just that I prefer the Chinese balance the relationship with purchases of U.S. products and services. Andrew, that is called balanced trade, not protectionism.
(Excerpt) Read more at cnn.com ...
Go, Lou!
I don't even agree with him on things, but I like a man who unexpectedly hits back at attackers.
I often disagree with him over many things he says on CNN but he is good on Illegal Aliens & Immigration issues, Cino-American relation and his emphasis on America for Americans!
How are we supposed to balance when their GDP/capita is 5,000 and ours is $43,000? I Know. Watch Bush. He's working on selling them real expensive things like clean coal plants and water treatment facilities. Why don't we go after Japan? They have money and a bigger imbalance? Because they have never let our stuff in?
Lou Dobbs and Jeannine Moos are the only good things about CNN.
China thinks that they can win by manipulating their exchange rate.
What it means to the Chinese people is that their government has made them slaves working for a pittance to give us cheap products.
It won't be able to last forever, and China has little to gain over the long run by selling themselves short. I say enjoy it while it lasts.
And Rudi Bakhtiar
I don't know who Cassel is, but he did raise a valid point. You are a portly protectionist. I would have chosen another 'p' word to keep with the alliteration. I would have substituted "populist" for "pompous."
Lou Dobbs understands it.
America First.
We live here, we don't live there.
I wish she would divorce her hubby and marry me.
China's greatest export is deflation.
Why everyone is so keen to make Chinese exports more expensive to US consumers is beyond me.
If Dobbs had his way, though, the Chinese would not have a piggy bank chock full of American dollars to buy all those Russian built fighters.
What's a few more Su-30MKKs purchased with cheesy profits from the America trade? Or, a few more Su-30MK2 maritime strike aircraft?
But hey, give me a portly protectionist any day over the trade-without-shame crowd . . .
And you can have him. He's all yours.
Thank you. :-)
The pleasure is all mine. Seriously.
Whom did she marry?
An American Guy! ;-)
Good!
We had this a while ago. The US had an opportunity to slap on import tax on Chinese goods, but didn't bother. So China actually put an export tax on it's own goods...so everything we buy from them directly enriches the govt in Beijing. They're smart.
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