Obama Treasury Sec. nominee Geithner attacks China for artificially devaluing yuan. This is a joke. The Fed devalues our dollar every day, printing money out of thin air, but we complain that the Chinese link the yuan to the dollar, and if this was unfair. The low currency subsidizes China's exports, meaning American consumers buy Chinese exports for less than they really would cost, at the cost of its imports, meaning the Chinese pay more for products than they otherwise would. This is wonderful for Americans because Americans can buy a Chinese product and have money left over to buy other things as opposed to if they bought the product at regular price. This benefits the US economy, creating jobs in America, at the expense of the Chinese. Yet our government wants China to stop because of political pressure. We're our own worst enemy.
I hope everybody sleeps better now that scientists say black holes created by the Large Hadron Collider should shrink faster than they grow. Let's risk the entire planet on should.
Pat Buchanan is giddy like a school girl over Barack Obama's speech. Maybe he's forgotten that actions, in this case radical leftist policies matter, not hot air.
When Joe the Plumber hadn't paid his taxes, liberals set him up in front of a firing squad. When Obama's Treasury Sec. nominee Geithner hadn't paid taxes, liberals called it an innocent mistake that shouldn't stop him from being chief tax collector. Double standard? Not as far as liberals are concerned. This story would have more merit if Republicans hadn't sat on the sidelines while liberals attacked the Joe the Plumber then welcomed Geithner to the above the law aristocrat society. This is a fine example of the big government corruption of both parties.
Friday, January 23, 2009
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