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Keyword: poorstupid
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It's the Global Economy, Stupid
Forcing China to float its currency would jack up prices at Wal-Mart. Do we really want that? The following is an "Ahead of the Curve" column published May 20, 2005 on SmartMoney.com, where Luskin is a Contributing Editor. In case you're wondering what ignited the stock market on Tuesday afternoon, launching the next leg up in the quiet rally that's been underway for a month now, it was just a piece of paper. The Treasury Department released a bureaucratic memorandum declaring that China isn't manipulating its currency — at least not quite. That's all it took. Treasury is required to...
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