GrovAgree: what a laugh and what an idiot Prof Peter Morici...

Grov

Agree: what a laugh and what an idiot Prof Peter Morici sounds. Didn't the interviewer handle him well.

At one stage I thought he was doing a "george rant from Seinfield" impersonation.

Even Obama readily admits that China is not taking US jobs by its low RMB policy: the wage differential between coastal China and the mid-West of the US is so great that a 10-20% appreciation of the RMB would not assist US manufacturing, but rather it may mean that the US would import more stuff from countries like Vietnam and Mexico rather than China.

And never heard before of any suggestion that China is printing USD or RMB. The reason the US has to print money is because it is a a net debtor whereas China is a net creditor.