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How Not to Promote Prosperity

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Here’s a letter that I sent today to a reporter for Reuters:

Mr. Doug Palmer, Reporter
Reuters

Dear Mr. Palmer:

You report this morning that “Two U.S. senators vowed on Tuesday to push for action on a bill aimed at pressuring China to strengthen its currency….   [Sen. Charles Schumer said] ‘My belief is that China will not do anything unless they’re required to'” (“U.S. senators vow speedy push on China currency bill [2],” March 24).

I offer a translation from poli-speak into honest-speak: “Two U.S. senators vowed on Tuesday to push for action on a bill aimed at pressuring China to raise the prices its producers charge to American consumers….  [Sen. Charles Schumer said] ‘My belief is that China will not do its share to screw American consumers unless it’s required to'” (“U.S. senators vow speedy push on bill to increase Americans’ cost of living,” March 24).

Sincerely,
Donald J. Boudreaux

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