Really? What genius thinks this is a solution? MORE money will now flow out of the US into China to pay for the suddenly more expensive goods, because the USA cannot manufacture competing goods, and probably will not be able to even tool-up the factories to do so for at least a year! So for the next year at least Americans will pay more to get less.
Some deal that is!
The trade imbalance will increase, with no corresponding decrease in US debt to China. The US Government just robbed you. Given how much of our daily products come from China, the US Government has effectively just stolen 1/3 of whatever wealth you have left over from the Wall Street casino binge!
Some deal that is!
The trade imbalance will increase, with no corresponding decrease in US debt to China. The US Government just robbed you. Given how much of our daily products come from China, the US Government has effectively just stolen 1/3 of whatever wealth you have left over from the Wall Street casino binge!
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