Thread: US Economy
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Old 2nd August 2006, 12:09 AM
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US Economy

We seem to have a problem in the US, and Nero fiddles whilst Rome burns.

Two stories stand out today. The first is the implosion of the US Car Industry:

http://news.bbc.co.uk/1/hi/business/5236930.stm


The second is Paulson talking absolute bollocks:

<<<In his first public comments since taking the post he also signalled he would stick to the strong dollar policy of his predecessor John Snow.

He also echoed Mr Snow's criticism of China's monetary policy.

The US has long attacked China for failing to loosen its ties on the yuan, claiming that it fixes its exchange rate at an unfair level - a move that allows the country to supply low cost exports.

"The Chinese need to show more flexibility with their currency," Mr Paulson told CNBC. >>>

http://news.bbc.co.uk/1/hi/business/5236982.stm

Surely even Bush's lot can work out whether they want a higher or lower exchange rate with China? In one breath they are saying that that need to keep the dollar strong to make imports affordable and keep inflation down and in the next they are condemning China for helping them do just that. It is time that America stopped trying to build an economy which is primarily based on litigation and started focusing on producing goods/services that people want at a price they can afford.

The queston is: Does this mean that World Economy is about to be dragged down by a flagging US, or does it mean that US dominance of the World economy is drawing rapidly to a close?
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