I put together just a few clips and a phone call of Larry Elder commenting on:
1) Fannie Mae and Freddie Mac (from zero to 3:30), 2) a caller asks about regulatory issues about the Federal Reserve (3:35 to 6:41), 3) Burden of Government on Families (7:50 to 10:50), 4) as well as the stated reasoning for Obama “ramming down our throats” health care – failing (10:50 to the end).
For more clear thinking like this from Larry Elder… I invite you to become an Eldorado: larryelder.com/
….Until recently, the US had a coalition of allies at the G-20 to stand firm against the manipulation of the yuan. However, much to Barack Obama’s shock, they’re not as interested in scolding China for manipulating its currency while the Obama administration has done the same with its second round of “quantitative easing”….
Many currency analysts agree with Mr. Obama that the U.S. dollar stands to gain in coming months against the euro and Japanese yen, in particular, if the Fed is successful and the U.S. recovery picks up speed.
Nick Bennenbroek, analyst with Wells Fargo Securities, said the dollar actually has strengthened since the Fed’s announcement last week because, in an “ironic twist,” the economy has been showing unexpected strength. A report on Friday showed the best private job growth since April.
“Moreover, with the initial Fed announcement now out of the way, markets have refocused their attention on the ongoing European debt-market difficulties and, in particular, concerns over the state of the Irish government’s finances,” Mr. Bennenbroek said. The result is the euro may be due for a decline against the dollar.
But the Fed’s move only seemed to provide an excuse to many nations to dig in and further resist Mr. Obama’s call to curb global trade imbalances, starting with the massive Chinese trade deficit with the United States.
A Commerce Department report on Wednesday showed that the U.S. deficit with China fell $2.2 billion to $27.8 billion in September but remained near record highs. The U.S. blames the deficit in part on China’s currency policy, which makes Chinese imports cheaper in the United States.
But Chinese President Hu Jintao, ahead of a scheduled meeting with Mr. Obama on Thursday, called on other countries to “face their own problems” rather than cast blame for their giant trade imbalances on China. Mr. Hu also defended China’s currency controls as a boon to the world economy.