History Repeats Itself

Re: http://news.yahoo.com/senators-court-2012-voters-china-currency-104122254.html

Both Republicans and Democrats are hypocrites. And, they’re stupid. Learn from History, and you won’t repeat it.

The Senate may vote tomorrow (Oct 11, 2011) on the Currency Exchange Rate Oversight Reform Act of 2011. If this bill is signed into law, you can bet a trade war will ensue. Just do a bit of reading on the Smoot-Hawley Tariff on Wikipedia: http://en.wikipedia.org/wiki/Smoot-Hawley_Tariff_Act

How many products do you buy are “Made in China?” Do you want to pay more for them?

If China is guilty of currency manipulation, and all they did was fix their Yuan to our Dollar, doesn’t that mean the U.S. is guilty of currency manipulation?

I hope common sense prevails, and the bill goes down in flames.