The Obama administration announced last week that the economic depression is over! Based on what? That not as many people are losing their jobs as were last month? The national unemployment rate is still very high - 9.7% and is expected to top 10% in 2010. Congress will now extend unemployment benefits (for the third time) another 13 weeks.
Some kind of turnaround you are taking credit for, Mr. President.
Now President Obama has announced that he will impose high tariffs on some Chinese imports, sparking another preventable trade war. Only this time it isn't with Canada. It is with our biggest trading partner.
And the one who owns 1/3 of our national debt. China continues to buy up US national debt at an astounding rate.
So if the US starts the trade war, China will end it very quickly by devaluing the dollar and making our currency worth next to nothing.
Yeah, that is a great victory over the recession.
Ron Paul wrote an excellent article on this, read it here.
Mr. President, don't do this. Please reconsider this move. We should be able to trade freely with all but avoid entangling alliances. This is what happens when we don't.
No comments:
Post a Comment