What's In a Name: Can the U.S. Afford to Call China a Currency Manipulator?

These economists are wearing blinders. If the U.S. and China enter into a trade war, China will not suffer. Gabriel Stein is wrong, wrong, wrong, by comparing China to other countries with limited internal consumer growth. The growth of the Chinese consumer will outpace anything that the world has ever seen. I understand that China wants to control the credit card industry. They need to control the interest rates being charged consumers as their economy grows. It gives them the ability to increase interest rates as their economy heats up. It also keeps them from being beholding to U.S. banks who would, if they were in the Chinese market, have a certain amount of control over the Chinese economy, through interest rate manipulation. "Bring it on"??? Plllleeeaase. Mr Stein has been watching too many movies. You cannot spit in Superman's face. Who does Stein think will buy the U.S.'s manufactured goods if it gets into a trade war with China? It is time that U.S. policy makers come to grips with the FACT that the U.S. is no longer the economic engine that drives the world economy. Everyone else outside of the U.S.A. can see this because we are not blinded by U.S. propoganda and small minded, non-world view, thinking. It reminds me of what happens when you put a frog in boiling water. He hops out. But if you put him in cool water and bring it to a boil, he will stay in and die. Well wake up U.S.A. Your water has been boiling for some time now and you just cannot see it.

A well written article by Mr. Simpkins….I enjoy reading his perspectives. And an excellent comment by Jeff. I tend to agree with his analysis…JWS

I guess govt should go after every discount retailer in the U.S. since they are taking jobs away from other retailers losing sales.I say if China is willing to take our declining fiat currency for real goods we should continue doing business with them.I exchange fiat every week by taking advantage of sales by businesses.If the Dollar crashes against the Chinese Yuan it will mean higher prices for goods in the U.S. and a lower standard of living for Americans.

With US economy in shambles, its dollars devalued with the printing press and mad spending, and its trade imbalance getting worse decade after decade, the Washington lunatic gang is shamelessly trying to manipulate the exchange rate between US and China currencies for the purpose of selling more to China. The Chinese have not done anything, except expanding their economy and keeping the exchange rate stable. One has to be crazy to believe that doing some name calling will improve the US economy.

The trouble is that people refuse to face the reality. It's taboo to tell the truth. If you want to find out the reasons of unemployment, just go to an unempoyment office to see how many foreign-made cars are parked out there. Each foreign-made car is equivalent to a job shipped abroad. We have absolute control over what we buy. We have absolutely no
control of how things are produced abroad. We buy too many foreign cars to create our own unemployment directly in the auto sector and indirectly in other areas. We devalue the dollar and ruin the economy, and blame other countries for not adjust their currencies accordingly. The lunatics are indeed running the asylum. Do you know how much "clunker"
car money went abroad? Do you know how much interest the US pays per year to foreign
creditors such as China, Japan, and Taiwan?

Wake up!

All I can think of when I see the US claiming China is manipulating their currency is that old cliche, That's like the pot calling the kettle black.

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do you really think TG is the right person to make such decisions?
The Raping of America
In the 1980’s American’s believed their government stood for something, decency, values, democracy, and fairness. The previous decades were wrought with troubles and strife much of which connected to the mistreatment of the other races. White was the sole air of the American dream for the 1st 200 years in the great experiment. People did not actually melt together in the great melting pot but rather assimilated themselves to become as white as possible in order to savor the flavors of success.
In the 90’s were brought out of a recession mostly through a public works project which sought to not only create jobs but also repair a crumbling infrastructure. America had for centuries been the birthplace not so much of the inventions themselves but rather the process of birthing these new creations into the homes and lives of the common man. One of the countries great endeavors, rivaled only by the Romans, was the creation of a national power grid, a clean water act and a highway system connecting this vast expanse of space into an economic Mecca.
Unfortunately in years recent we have seen our government leaders pronounce blatant lies upon us as though there were a special prize for the most despicable. From a president with a public affair who not only denied its existence but defied the same law he was sworn to uphold not only as our leader but in his profession as a lawyer by blatantly lying to congress and yet receive no corrective action. To one who created a network of deception if for no other reason than to pursue corrective action against a foreign dictator for whom his own father had chosen political ambition over finishing the mission he began.
Now our country is observed as one of extreme prejudice against those who worship differently than ourselves. Yes radical Islam needs some corrective action and had we chosen to work the slow process through the state department and our allies in the region the radical fundamentalists could have been under control by now. Instead we have enlightened millions of ignorant [ignorance is have little or no knowledge of a matter {not stupid just without a full understanding}] radicals against our entire population.
It was sad to see a minister promoting such an act as to publicly announce the burning of another religions holy bible. These people much like those in America in the 19th century with whom literacy was relatively sparse among the working class. Even my own grandmother as caring and kind as she was, had only been afforded a second grade education and could not read for herself the Bible she carried. If another country dared to promote such an event towards a religious book of ours would we accept it the same way?
Our own population was lead astray, in that in 1900 to 1907 the country was caught up in a real estate boom. The banks were learning a new way to make money, bundle mortgage backed securities and sell them to investors in the stock market. But after the bust congress passed a law in 1907 to make such a practice illegal.
Oops in 1997 our leaders decided it would be a good idea to repeat the mistakes of the past. One of the lessons learned in 1907 was how much fraud and corruption was involved not just from the banks looking to make a quick buck but mostly from appraisals on property values as being worth substantially more than they actually were.
The real losers were not the banks, realtors or brokers. The losers were average people who believed their government was actively protecting them. They were unaware that the government monitors were also involved in the corruption. Yep people entrusted to regulate industries were in reality capitalizing on the venture capital and surprisingly able to realize gains without the loses as common people.
Our government has a protective policy of imbedding specialized investigators in almost every area of the American way of life with the intention to prevent widespread havoc and corruption. These agents were to assume common jobs earning an honest income [in addition to their active status incomes with perspective agencies] and be available as needed as well as filing reports as needed to prevent wide spread issues.
Banks were so anxious to make these hugely profitable deals they actually encouraged people to guess at their expected income in order to qualify for a home. This was of course almost essential since home prices had grown outside the limits of affordability for so many. And many were caught buying these over price homes for fear that if they “don’t act now and you will never be able to afford one in the future”.
Unfortunately most were so caught up in the profit taking as afforded to realtors and the like on these overpriced houses [average 7% of $300k=$21,000.00], to realize the true values appraised had accelerated faster than inflationary possibilities could account for. Furthermore the masterminds who orchestrated the 1997 law were and still are involved in benefiting those who ventured into the process of profiteering and promotion of excessive indebtedness of the nation.
It is overwhelming to consider T.G.’s position in creating this nightmare but absurd to know he was then hired to be the financial advisor to the President. It would make more sense if a bank hired a bank robber as its new president. The federal government has bailed out the banks with tax payer money and yet the banks show no mercy to those whom they have been anxious to foreclose on. The process drives down the value of all real estate further collapsing the fragile economy creating new housing defaults and yep more foreclosures.
Why would the banks loan money to us common people? They borrow our money from the Federal reserve [tax payer money] at 0.25% yep way less than 1% then turn around and use that borrowed money to buy treasury notes which pay 3.5 to 4.75%. Think its not much? Say you borrow a billion at 0.25% but earn 4.75% which means you made 4.5% clear, on 1 billion, you make $45,000,000.00 for doing absolutely nothing for the American society. And worst of all it is the American tax payer who pays the interest on these treasury notes. Unbelievable, the banks borrow our national money from the Feds, use it to buy treasury notes, then earn 45 million buck which comes out of the income taxes of the working American’s many of whom have been aggressively foreclosed on by these same banks. The crooks use the common man much as plantation owners used slaves.
The government which was for, by and of the people has become hypocrisy. We not only have the worst banking system in the world, our infrastructure is collapsing around us as our highways are barely better than dirty roads, our power grids have virtually melted away, our water systems are often filthier than a pond. Joseph Stalin must be laughing in his grave to realize his dream of internal destruction of the American position.