Posted by WARREN MOSLER on January 20th, 2011
So President Obama declares victory because we get to build planes and send them to China.
To get our dollars back, of all things, as if there’s any public purpose to that.
And so because we continue to believe we could be the next Greece, we continue to turn ourselves into the next Japan.
Which includes being an exporter, just like Japan.
January 19 (CNBC) — The Obama administration, trying to build ties with an economic rival, said Wednesday that China would buy $25 billion in U.S. goods and had given final approval to a long-negotiated $19 billion deal for 200 Boeing planes.
The announcement came as Chinese President Hu Jintao arrived at the White House for a state visit with President Barack Obama.