Fwd: Listen to Hu and Not to Obama

-------- Original Message --------

Subject:	Listen to Hu and Not to Obama
Date:	Mon, 12 Apr 2010 17:13:35 -0700
From:	Jas Jain

Chinese President Hu told Obama, in their private meeting, that strong Yuan would not solve America's employment problems. Truer words have not been uttered by any of America's economists and other American policymakers. Has anyone given serious thoughts to the deflationary aspects of the Internet on employment and prices? The story is just unfolding bit by bit and has years to playout.

 

Americans find themselves in the current predicament because of the bad American economists and policymakers. Don't blame the Chinese, or the French, or the Germans, or the Japanese for America's problems, please. All of America's problems have their roots right here in America—mostly in the behavior of American "leaders," I mean misleaders. A bad political system doesn't help. The real history of popular large-scale democracies, only in existence for the past 30-60 years in most of the democratic countries, would be written 30-40 year from now. People simply don't understand democracies and they don't understand deflation either. Democracy, in practice, is a plain fraud where moneyed crooks get to pick the government that they want.

Jas