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To: hedgetrimmer

Ping for more CAFTA bad news


24 posted on 07/27/2005 12:49:07 PM PDT by antisocial (Texas SCV - Deo Vindice)
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To: antisocial
Thanks. I find it terrible the way the Administration is pushing the CAFTA when their chairman of the Council of Economic Advisers is saying we have to get our manufacturing back from China. So giving it to central America gets it back? I don't think so.

The challenge will come once the price of imports begins to rise. At that point, Americans will have to produce for themselves much more of what they consume, or pay a lot more for the privilege. Ideally, the process would involve America becoming a much bigger producing nation, even stepping up its exports to Asia, while Asia, and especially China, takes up the role of consumer.

That is essentially the view of the Bush administration as outlined by 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.

http://www.iht.com/bin/print_ipub.php?file=/articles/2005/07/22/business/dollar.php
26 posted on 07/27/2005 12:58:42 PM PDT by hedgetrimmer
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