Having run through the rest of the First World countries there now exists growing evidence that government supported middle class consumerism is wrecking the financial conditions of those same governments and middle class workers in Australia and Canada. The latter being one of the last outposts of financial conservatism in the stylings of post-Depression era earn/save/spend balance. Let's recall one more time my sentiments on this kind of policy from an old post, here.
I am on record saying that the developed governments of this world are going the wrong way in driving esoteric and consumerist business at the cost of production/export centric economies, which are more useful, sustainable, and have less beta (if you know what I mean).So in order to serve our own best interests, and without fixing source issues about why the US is not competitive, our policy advisors go to China this week with the idea of pressing China to forgo that which put it in its present position, exporting, in favor of the slow-motion train wreck that is Western Financialism. Full source article by Reuters here.
The Treasury official, who spoke on condition of anonymity, repeated it was China's choice to decide what to do about its currency peg but expressed hope Beijing would keep boosting domestic consumption and rely less on exports.Real stewards to the welfare of our fellow man are we. Please do not be hornswoggled by the headline grab that these political pontificators seek. The most direct route between increasing exports for the today-minded bureaucrat is to go the route sought, provided the yuan strengthens which of course cannot be guaranteed. Rather than hurt feelings at home by self-implementing public fiscal responsibility and freeing corporations to seek economic balance by destroying the antiquated, extortionist, politically corrupt, and morally bankrupt Union Institution while weak, our brave leaders head into untapped territory, like parasites, to encourage what we have seen will become a financial plague.
The items sought by this Administration are tantamount to changing the rules of the game in order to aid them toward victory rather than benching the dead weight. Once again we see that the government feels entitled to act in ways individuals should not, for if they were held to the same standard, the United States would help itself before reaching out to others.
* All credit for the word "fuckery" goes to @The_Real_Fly, a word that may have existed before, but without which the title of this piece would seem incomplete.