Damn Those Stubborn American Consumers!
14th October 2011
Don Boudreaux, Chairman of the Economics Department at George Mason University, rewrites a news story so that it actually tells the truth. The result is amusing. Too bad our ‘journalists’ have the intelligence of green vegetables.
The Obama administration, under fire for not taking a harder line
on China over its currencyon American consumers who stubbornly take advantage of good deals offered by Chinese sellers and, allegedly, made even more attractive by Beijing’s monetary policy appears set to move againstthe Asia export powerhouse on other frontsthese politically unorganized Americans as next year’s U.S. elections approach.
I especially like the way he fisks Mitt Romney, who (for all his success in business) is apparently ignorant of certain elementary principles of economics.
Not that any of the other candidates represent any improvement. Herman Cain, for example, who ought to be able to run the numbers, sticks with his superficially attractive but ultimately useless tax reform plan.