Obama has spent ten valuable days on the road in Asia since the disaster for him in losing the Congress elections and many local elections. What did he get from that. Virtually NOTHING. One might suspicion that this is a backroom strategy from Obama's team of Clinton re-treads in the White House. Here is how it works: Obama and the Koreans do not come to an agreement. Obama comes back home but actually has an agreement done with the Koreans which is too their liking i.e. they get full access to our markets but don't give us anything. For example, Obama lets the Koreans sell over 500,000 autos here each year but the Koreans refuse to let us sell cars there. Once the shock of this failed trip is over in a week or so, do not be surprised if Obama announces that talks have reopened with the Koreans and a "good" agreement has been reached. This is totally Obama-speak--wait until the heats off and then backtrack or cave-in on issues. He is a master at it and who suffers--the middleclass and the taxpayers.
Full Story Link: http://aep.typepad.com/american_empire_project/2010/11/obama-in-asia.html
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Todays financial news might give one hope that Obama is finally (is it version 7 or version 8) getting tough with the Chinese on their world class currency manipulation. Until recently when the world's economy was chugging along no one seemed to care that China keep its Yuan seriously undervalued to protect its producers which really constituted a hidden tariff system. Keep in mind that 8 years ago when they joined the WTO they promised to abide by world standardized currency rules. That when out the window like a streaking NASCAR driver. So all along they have been playing us for fools while they robbed other countries of markets and jobs. During that time here Bush was president and he didn't do much about it. He liked the idea of borrowing billions of dollars to finance his war making in Iraq and Afghanistan. Plus, he got to pile on debt here so his rich friends would avoid paying higher taxes.
ReplyDeleteThe party came to an end in 2008 and now Obama must deal with China. He is to be commended for making tough statements on China's currency manipulation last week. Buy hey anyone can talk --- ESPECIALLY OBAMA. He made similar statements back in the spring but nothing was done. So, I wouldn't get to rev'ed up about his current position vis-a-vis the Chinese. We've all heard that talk before....