Smoot-Hawley redux

posted by
February 6, 2011
Nolan Chart
by Jim Quinn  
Posted in Commentary

"The Chinese have pegged their currency to the USD since 1995. For a decade, the U.S. was just fine with the peg, as American consumers got cheap goods, American corporations reaped huge profits from outsourcing, and banks raked in billions by lending money to everyone. Now that we have entered the Greater Depression, the finger pointing and accusations have begun. Politicians and the people who elected them want someone to blame for their bad choices." (02/03/11)

http://www.nolanchart.com/article8329.html  

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