dylan, you talk about how it s hard for americans to find jobs right now. people aren t able to find anything. in china, the exact opposite is happening. it s easy to get a good job. what you ve seen is the chinese government isn t currency rigging fun? part of it is currency rigging, they increased by 22% last year because you re seeing american firms like starbucks, apple are making billions of dollars a year. apple now, it s the second largest market in the world, quadrupled sales last year. what that s doing is creating millions upon millions of jobs. right now the hardest thing for multinationals to do is hire and recruit talent. the net result for consumers is inflation. instead of being able to hire chinese workers for low slave-like wages, they now have to pay them a real living wage and that s going to cause inflation. so the biggest consequence. let us presume that whatever the progression this holds continues. wages go up in china, china s
commitments as a trading partner. and the offense is doing what we need to do and should be doing any way to grow jobs in the united states so that we re an effective competitor in the world. and richard, it is easy to sit on the bully pulpit and complain about currency rigging or about the tax strategy. mathematically, it may be correct. but it s also clear, much as it is with mispricing in the energy markets and other tax codes, that only a sophisticated approach that realizes that correcting this is a delicate act. walk us through, sort of, the dangers of reckless dangers of confronting china and how you recommend we approach the
the dumb struck reaction, deer in the headlights response was bad and rick perry s handlers didn t handle it well in the end which is to say this is rick perry being rick perry. he s on audition here, not just to be the most popular dude but to win the presidency. and the interesting thing is whether it s us or there s so many you can see it emerging right now, the demand outside. political sphere for the conversation that we were just talking about which is a grown-up conversation about debt, a grown-up conversation about what it means to have a banking system in the 21st century and down that list from health care to war, et cetera, et cetera, and i really believe the reason whether it s the streets of greece or asia or america, the frustration is that we re not getting that serious conversation. the panel stays. after that we all talk a lot about confronting china here. currency rigging, the trade deficit in particular, but our next guest, our specialist, says there is a silen
selling confidence? the factual answer is i have no idea, okay? if you come on, dylan, do you have an idea. let s look at it this way. selling confidence is a very valuable skill. if people feel confident, the probability that they actually can do whatever needs to be done goes up substantially. number one, i wouldn t underestimate the ability to sell confidence. on the issues that you brought up, it s hard for me to see anybody do worse, and i hate to tempt fate, in dealing with china on the issue of currency rigging, on the issue of lack of reciprocity in the trade agreements than what we ve been dealt for the past 30 years, and specifically i would say donald trump s rhetoric on trade is more effective and more directed at the problem, which is lack of reciproci reciprocity, currency rigging and lack of market asset. on the trade issue i would say i will take done 23458d truald tr lot of other characters. dylan ratigan is actually
china is saying we want the money flowing into our country because we want jobs in our country. in the process, we re losing jobs in our country. china has no incentive to change that. they have no incentive to change that. the only incentive to change it would be if we manned up and said we are no longer going to allow you to do that, which is the same thing ronald reagan did with japan in 1985. he said your currency rigging relative to the u.s. market will no longer be tolerated. they had a meeting and changed the value of the yen by 50%. instead of american money going to japan as it was in the early 80, after the accord of 1958, all of this japanese money was coming to america. that s the sort of thing this has been done before. the dutch did it, the germans have done it. this has been done. they bought pebble beach. and this building. everybody is so short-sighted. in politics they re short-sighted, in economics