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AmericanEconomicAlert.org Opinion
Editorial updates from the research staff at USBIC:
7/12/2010
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In 2010, the trade deficit with China reduces U.S. GDP by more than $400 billion or nearly three percent. Unemployment would be falling and the U.S. economy recovering more rapidly, but for the trade imbalance with China and Beijing's protectionist policies.
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7/2/2010
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For a decade, China has been running history's largest trade surpluses with the United States and has amassed a hoard of $2.3 trillion in foreign currency. She now holds the mortgage on America.
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More Opinion
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7/1/2010
Much of what needs to be done to put the US economy on sound long-term footing runs counter to President Obama's progressive principals; but hard realities, not utopian dreams, must dictate the decisions of a leader -- or his nation fails.
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6/24/2010
Four successive Treasury Secretaries have gone to Beijing only to lose face at the hands of their Chinese hosts -- as the yuan appreciation needed to eliminate its 40 percent undervalutaion did not occur. China's latest currency announcement, undercut the day after it was announced, had the American president and his Treasury Secretary gushing like school girls. Where is the adult leadership in this country? Where is there a willingness to protect and preserve the American middle class? Not in the Obama White House and Cabinet.
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6/15/2010
The Euro was poorly conceived, and its implementation was poorly executed. It was the product of hubris, not rational economioc thinking. It cannot survive in its current form, and there is no reason it should -- at least without full political integration. It disadvantages the poorer countries of Europe, and leaves them at the mercy of the the rich countries.
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6/15/2010
President Obama can actually increase the economic and social damage being caused by the DeepWater Horizon Explosion by making ill-advised statements and choosing inappropriate public policy responses.
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6/9/2010
The latest jobs report tells the story. The government stimulus package was misdirected and did not produce the desired effect. We are headed for Phase II of the recession -- one that will be harder to fight as money and policy tools have been wasted.
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Kevin L. Kearns and Alan Tonelson, 5/22/2010
USBIC’s Kearns: “It’s time for the President to start listening to the Main Street voters, including business owners and workers, who elected him, and to fight rather than appease the foreign governments that have stolen their companies, jobs, and incomes.”
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Alan Tonelson, 5/21/2010
To return the US economy to healthy production-based growth, many steps are necessary. But one of the most important is to end China's illegal currency manipulation -- which steals factories and jobs not only from America but also from countries around the world, including Brazil and India, who have begun protesting the artificial yuan-dollar peg maintained by Beijing. At the Strategic Economic Dialogue in China next week, Obama administration officials must make clear that either China ends the peg cooperatively or we will take unilateral action to do so. It's the only way to begin to rebalance the world economy.
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5/18/2010
Greece is a warning to governments that promise too much in social benefits to their citizens, and pay too much for what they promise. The United States is hardly free of such folly.
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5/9/2010
The Europeans have worked for 60+ years on integration, but now it is all falling apart as the poorer southern nations are realizing that they cannot enjoy the same lifestyle as the richer northern nations. Without a true central government, with power to tax members states and redistribute wealth from the richer to the poorer nations, the Euro and the European Union are ultimately doomed.
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5/7/2010
Some good news is better than none. But there is not a lot to be confident about over the long run in today's Labor Department jobs report. Until our overdependency on foreign energy and (artificialy priced) Chinese manufactured goods is cured, the US economy will not create the jobs needed to puts large numbers of Americans back to work and bring the unemployment rate down to acceptable levels.
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