China's Real Monetary Problem - WSJ.com

PONTIFICATING CONGRESS SHOWS ECONOMIC MYOPIA: China's Real Monetary Problem - WSJ.com:

"What was amazing listening to Bloomberg over the past day was to see and hear all the pontificating members of Congress talk about job losses due to the yuan valuation, but they said nothing about wanting higher prices at Walmart for every American or potentially much higher interest rates if the Chinese sell their holdings of US bonds.

Clearly America isn't going to set up factories to sell the consumer goods at Walmart; and, if we effectively boycott Chinese goods, then they will reciprocate.

So would the US rather have jobs making clothes or selling computers and technology?

The fact that the Congressmen were pontificating with such a UAW view of the world is certainly another reason to be worried about the impact of government on the economy.

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