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Arterial bleeding called "problematic"

By Owen Paine on Tuesday May 13, 2008 11:55 AM

Fact: our Luddite dollar has graciously lost about 1/3 of its puffed-up imperial value against our northern trading partners' currencies. But against the real menace -- against our hideously undervalued southern trading partners -- the decline is less than 1/6th. Enter this champion of the battle against our ongoing "off shore" jobbery robbery:

By the looks of him alone, I ask you, ladies and gentlemen of the jury, how could the likes of this this, this... think-tank porcupine ever hope to bust apart the trans nat-OITP(*) ring's all-in, full-tilt, take-no-prisoners attack, which is even now preparing to apply ten thousand wrecking balls to whatever still remains standing amidst the rubble of our national industrial platform?

I know, I know. Once again, I've prefered the rude senseless personal insult to the principled, documented, text-based dismantling of the argument. So okay, read this, and particularly this flapping burlap of a finale that Maestro Scott substitutes for the much-needed roundhouse left:

"The countries whose currencies are in the OITP index account for roughly 59% of the current U.S. trade deficit.... OITP's relative stubbornness is problematic for United States and global adjustment and makes strengthening currencies in the OITP index and the Japanese yen even more important for correcting the U.S. trade deficit."
Stubborn? Problematic? I love the judicious tranquility with which these people survey the bloody havoc we laughingly call "the US economy."


(*)The Other Important Trading Partner index. Its member currencies: China, Mexico, Saudi Arabia, Malaysia, Thailand, Korea, Russia, Taiwan, Indonesia, Israel, India, Philippines, Brazil, Colombia, Chile, Argentina, Singapore, Hong Kong.

Comments (2)

Al Schumann:
Once again, I've prefered the rude senseless personal insult to the principled, documented, text-based dismantling of the argument.

For shame! He looks like a very nice porcupine, Owen, and I'm sure he's a credit to the think tank.


The Smug Smirk of Merit Class Wankery smiles at your rage, Owen, for you know that there is NO alternative to the reign of his policy prescriptions! Prepare to be "probed."

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