Updated* Paul Krugman says the US should threaten sanctions against ChinaSubmitted by the clover helix on Mon, 10/03/2011 - 21:46
I didn't know whether to file this one under the "war & peace" category or under "economy", but it'd fit into either one. It's important to watch the movements of our intellectual (and I use that term very loosely) opposition closely simply because they are in control of our government right now.
Paul Krugman writes: "The dire state of the world economy reflects destructive actions on the part of many players. Still, the fact that so many have behaved badly shouldn't stop us from holding individual bad actors to account.
And that's what Senate leaders will be doing this week, as they take up legislation that would threaten sanctions against China and other currency manipulators."
The rest of the article is at the link below.
It only gets worse from there as he calls for more currency devaluation and higher tariffs. If things don't change soon, he'll eventually get his way and the whole nation will be that much poorer.
P.S. If you don't know who Paul Krugman is, this picture pretty much sums him up.
UPDATE: China responds to the proposed legislation:
Currency Wars are on!!!