So Bush is pressuring China to stop keeping the yen artificially low and has imposed tariffs on some polyester materials manufactured in China. Yes, China is gunning for us in all ways, including industrial production. Yes, there is a huge import/export deficit. But theres a couple problems here. First of all, someone’s gotta pay for the increased prices of those polyesters. That means instead of the companies that make them here taking a hit, consumers have to pay extra for lots products that are manufactured in China.
Tariffs are crap, I’m sorry. They are in no way a solution for job loss. If ya ask me, there needs to be some federal law about how much the CEO of a public company makes versus how much other employees make. Yeah, there should be some special rule exempting people who own their own companies, but that’s mostly small business. My problem is big business, where 70% of the workforce of a company (made-up numbers are fun) earn 40K a year while the CEO earns 30 million. Read the rest of this entry »