Obama Says He's "Pushing China" on Currency Today in Des Moines
Posted by jeckert on 09/29/2010
On the plane ride from Des Moines, Iowa, where President Obama spoke this morning, to Richmond, Virginia, Obama spokesman Bill Burton was asked if we are going to hear from the President on the China bill in the House, Burton replied, "I think the extent of what the President is going to say about China and their currency he said today in that Des Moines backyard.
An excerpt from Obama's remarks on China is below:
"I will say the reason that I’m pushing China about their currency is because their currency is undervalued. And that effectively means that goods that they sell here cost about 10 percent less and goods that we try to sell there cost about 10 percent -- let me not say 10 percent, because I don’t want the financial markets to think I’ve got a particular -- there is a range of estimates. But I think people generally think that they are managing their currency in ways that make our goods more expensive to sell and their goods cheaper to sell here. And that contributes -- that’s not the main reason for our trade imbalance, but it’s a contributing factor to our trade imbalance."Read more.
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Yes Mr. President, China's
Yes Mr. President, China's products are much cheaper than American Products and that's why Companies went there... for cheap slave labor. It is my opinion that these companies want American's in slave labor too, then they may come back to the States. China's products come loaded with toxins - I remember examples : Toys, Pet Food, most likely people food, etc. I find much of the products are cheap junk. And they out sell every thing we may still produce but I don't think they care. Corporate America did this to the American people Sir, with NAFTA and the blessings of a couple of US Presidents. It is to bring the American people down, to oppress us, and to make us hungry enough to submit to slave labor via no jobs. Without jobs, there is no economy. The Chinese Government under cuts all prices and we Americans don't have a chance until we are independent again. But is that possible ? I see lots of factories empty here in RI just waiting for, say Green Energy maybe. Sir, this is all part of taking our country back. I want to help Sir but I don't know how.
Let me know how I can help. We are losing our country to Corp. America and the banks, and China and elsewhere. How can we help ?