Bush Criticizes Japan, China on Currency

Bush Criticizes Japan, China on Currency
By THE ASSOCIATED PRESS

Published: October 14, 2003


Filed at 2:13 p.m. ET

WASHINGTON (AP) -- China and Japan should stop intervening in the currency markets in a way that gives them an unfair trade advantage, President Bush said Tuesday, the eve of a nine-day trip through Asia.

``Markets ought to be determining respective currencies,'' Bush said in an interview with Asian journalists.

snip.......

``We expect the markets to reflect the true value of currency -- that the way that currencies ought to be valued is based upon economic activity, a fiscal policy, monetary policy of the respective governments, the potential for growth, the potential for long-term viability of the economies,'' Bush said. ``That's how our respective currencies ought to be valued. And, yes, we'll bring that up.''

``I'm going to say that where there's trade imbalances, you know, countries need to be mindful that we expect there to be fair trade,'' Bush said. ``And I fully understand the competitive world is one that I think is positive, so long as the competition is fair.''

``My main focus here in America is there to be significant job creation,'' Bush said. ``It looks like we're getting some positive results.''

more............

http://www.nytimes.com/aponline/national/AP-Bush-Dollar.html

His own Treasury Secretary has been manipulating the currency market in favor of the dollar for months now.

Blaming somebody else for one's own incompetence is the hallmark of being a Bush.

.

Most Americans don't have any.

for just about everything he has ever done in his alcohol hazed history

Pay no attention to the freefall in foreign capital investment in the United States in the last three years.

Don't you dare look at a financial sector overrun with lies, scams, insider trading, double-dealing and a hamstrung SEC.

Don't even think of probing huge corporate scandals, exploding executive pay, a disintegrating manufacturing sector, ever-rising health care costs, massive and steadily widening divisions between the very wealthiest and the growing ranks of the downwardly mobile and working poor and the steady erosion of high tech employment by outsourcing.

Deficit, schmeficit - what's half a trillion dollars among friends?

Above all else, there are foreign enemies to blame for the economic pickle in which we now find ourselves - and their names are Japan and China!!

according to Bush's above 50% rating (though, granted, down from 95% of yesteryear).

Name me one other country that is dumber than the U.S.

Take your time.

Just a thought.

http://www.euobserver.com/index.phtml?aid=13029

A development mainly due to the weak dollar and not an improvement in the German economy.

``We expect the markets to reflect the true value of currency -- that the way that currencies ought to be valued is based upon economic activity, a fiscal policy, monetary policy of the respective governments, the potential for growth, the potential for long-term viability of the economies,'' Bush said. ``That's how our respective currencies ought to be valued. And, yes, we'll bring that up.''


If that came true, it would be pretty bad news for the dollar.

just ask Wolfowitz and especially Condoleezza Rice.

Don't ask Rummy the dummy cuz he's got a heat score.

Many of us would like the UN to hand Bush a stinging defeat on his Iraq demands. One popular argument sees this as helping to bring on his defeat next year.

But when foreign nations look at how good Bush's domestic mismanagment of the economy is for them, they may just want to help keep him in office!

NO mention was made in the article of the fact that the number 1 and 2 holders of American debt are: China and Japan.

Increasing the value of the yuan and yen would basically mean de-valuing the dollar, or IOW, screwing them on the debts we owe, which would be made up for by .............higher interest rates....

Argentina here we come!

Early last month, the yen was trading at approximately 117 per dollar. Today, the yen was trading at less than 109 per dollar. That's a gain of 8 yen per dollar-- or 7%-- in about 5 weeks.

That's what his administration told us last week, when the dollar was dropping faster.

Can *anyone* figure out what this administration's dollar policy is?

The yen has gone up about 7% in 5 weeks-- and they're still complaining

Methinks that economics degree from Harvard isn't worth the fake sheepskin it's printed on.