Everyone is talking about the Euro and the Yen, but what about China?
The Chinese Communists don't let their currency float like everyone else!
Is this OK? Or, is it a formula for CURRENCY CHAOS in 2005?
My hunch is that China is up to something.
Consider:
The entrie justification of Greenspan, et al, for "the lower dollar" was to MAkE FOREIGN GOODS MORE EXPENSIVE IN THE US.
Now, whether that is really a "good idea" is debateable. It smells like hyper-inflation to me!
But, will this policy even accomplish its stated objection of lowering the US trade deficit? Probably not!
The problem with all o f these FREE TRADERS is that they are still living in the world of ADAM SMITH AND JOHN LAW! CIRCA 1750!!
It's way different now. The American global competition is CUT THROAT! And everyone is looking at a different goal. The Chinese want full employment. The Eurolanders want the Welfare State. The US wants short term corporate profits to "juice" stock prices.
SADDLY, US ECONOMIC LEADERSHIP IS GREEDY AND STUPID AND UNPATRIOTIC!
Hmmmm.......greedy? stupid? And unpatriotic?
No one in American Leadership cares what happens to the US worker or to the US economy LONGER TERM. NO ONE.
It's all SMASH AND GRAB, AND "ME FIRST" NOW! TAKE THE MONEY IN RUN.
And, that goes all the way to the top: THE WHITE HOUSE, THE FED, AND ON THE STREET!
MONEY NOW! FORGET THE FUTURE. THAT'S BEEN THE MOTTO OF WALL STREET FOR YEARS NOW..
TO HELL WITH THE FUTURE........who knows if there will even be a future to worry about?
NO WONDER THE BUBBAS ARE IN CHURCH PRAYING!
China is choking the world with ever cheaper goods to the point were a general market collapse is now inevitable. We are seeing it everyday in the punk numbers for retail sales. Not only is Bubba "Maxed Out." He doesn't really need anything from "the mall" anymore.
NOTHING THE 1700'S ADAM SMITH CROWD CAN DO WILL STOP THE CHINESE MARXISTS FROM TRASHING THE GLOBAL CAPITALIST SYSTEM BY TAKING DOWN THE DOLLAR!
CHINA HAS THE DOLLAR IN A "DEATH GRIP!"
AND THAT, GENTLE READER, IS GOING TO BE "THE BIG STORY" OF 2005......!
PRAY BUBBA! PRAY HARD!
Postscript: And, as always, remember; YOU HEARD IT HERE FIRST.
