House Panel Approves Bill Threatening Duties on China for 'Undervalued Currency'

Bravo ---

Its about fricken time congress started to think about Americans again. And it took the tea party to do it. Those bastards realize they are about to lose their jobs if the don't act like populists.

lI have been arguing for this for a long time.

let those china govt sponsored sob's stop buying treasuries and watch their investments tank.

They distorted the marking by manipulating the value of their currency. Now its time to start protecting american workers and rebuild some some jobs and industry.

Do you realize by plowing their profits back into mortgages China helped wall street provide no doc no income loans causing housing prices to rise and causing large sectors of economy to be mis placed?

it allowed wall street to make outsized profits and buy all our politicians.

This is the first sign congress is working for us in decades.
 
Quote from jem:

Bravo ---

let those china govt sponsored sob's stop buying treasuries and watch their investments tank.

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LOL :p

You actually think China gives a shit about "Investments"? Some of you traders... wow. how do you stay profitable?
 
It occurred to me today that now that the U.S has no productive assets (i.e its not manufacturing anything) , it will have to get in the inflation business in order to reduce its relative debt, even though thus far it's obvious from the Market (see bonds, cpi, tips) , that creating inflation through a variety of clandestine means does not work.
 
Quote from sumfuka:

LOL :p

You actually think China gives a shit about "Investments"? Some of you traders... wow. how do you stay profitable?
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How do people not understand systems and trade.

If China did not care about its investments.. why did it not trade out of dollars to euro, gold or oil.

its because they were taking in so many dollars they could not trade out of dollar without heavily distorting world markets and putting greater pressure on its currency.

if china did not care about its investments why did it pressure the fed to switch it out of a trillion plus in agency bonds to govt bonds.
 
at first I am sure it was for national security considerations.

We wanted them to have some skin in the world economy game.

Bush used to complain about it. We had threads about it right here.

so many people were so concerned about Bush wanting the dollar to get weaker.

But thats what republicans do. They like stronger manufacturing and dems like stronger new york banking hence strengthening.
 
Quote from psytrade:

It occurred to me today that now that the U.S has no productive assets (i.e its not manufacturing anything)
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The United States is, by a very large margin, the world's largest manufacturer.
 
Quote from Random.Capital:

The United States is, by a very large margin, the world's largest manufacturer.
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In dollar value yes; In real terms, mostly not. U.S. may be number 1 in computer chips, networking routers, switches, jumbo airliners. but not in number of cars, pc's, trucks, trains, ships, tractors, or tonnage of steal, cement, grain, cotton, fishery, textile, metals, etc.
 
The dollar is going to dogs already due to QE2. Now they impose tariff on China. 99cents stores would not have much to sell, the poor in USA cannot afford basic household goods.

Obama screwing the poorest of the poor to save union jobs!
 
Quote from adadadog:

In dollar value yes; In real terms, mostly not. U.S. may be number 1 in computer chips, networking routers, switches, jumbo airliners. but not in number of cars, pc's, trucks, trains, ships, tractors, or tonnage of steal, cement, grain, cotton, fishery, textile, metals, etc.
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Don,t forget arms. The soudies just made 60 billion order with more to come.

Also pc made in china brings about 5$ to china and 200$ to usa companies like Dell and apple and Microsoft etc...
 
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