Lou Dobbs is an interesting character. He also started and runs Space.com.
Anyway - I much appreciated that he spent a few days a few weeks ago going over the insane trade deficit we have with China and how China has been dumping textiles at increasingly enourmous rates into the US, which is basically killing off an industry domestically that has been in trouble. Sound familiar? (TV's, Stereo's, Toys...)
Look I am a fair market guy, collegiate degree in econ and business - traveler of the world. However it is not "fair" when a country run by a totalitarian "communist" system subsidizes industries and controls wages of workers artificially low can be allowed to throw that product in our markets without controls. Not many other countries allow this without tarrifs. They have a surplus of near slave labor at their disposal, and it's all subsidized by their government. It's trade, but it's not "fair". The lobby is strong in D.C. keeping that arrangement afloat. It's not a simple issue, but it's results thus far have not been to the good of the US, except drive consumerism maybe more wild that current levels of consumer debt also reflect. Court still open on that one. One thing is for sure, our current fuel costs are also reflected in China's own booming economy (largely from us), they are putting pressure on world supply. Oh yea for us.
...I said it before: And you still shop at Walmart.
