Friday, February 5, 2010

Krugman Explains Currency Exchange

Paul Krugman can be a little arrogant sometimes and strongly opinionated all the time.  But two things I love about Paul Krugman:  He states some complex ideas in simplified form so most people can understand them (not all economists have this ability) and he empathizes with the "working man" or the blue-collar guy on the street.  He has a post that explains very very well how to understand exchange rates.

I think Krugman if nothing else has been implying and really it seems to me stating it straightly, that America and President Obama (and the World) need to get tough with China on the currency issue.  China has held their currency artificially low for many many years now, which hurts American companies selling products overseas.

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