Krugman: It's America That Has China Over A Barrel, Let's Take Advantage Of it
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Comment: It would not be the first time that Paul Krugman gets it all wrong. Yet this time the stakes are immense. In the meantime NY senator Schumer is already on his way to follow Krugman's silly advice and prepares a bill to put tariffs on Chinese goods. What a foolish behavior! The punishment for the US would be immense. If Krugman's advice should be followed and if Schumer should succeed in challenging the Chinese, the consequence would be no less than a new crash of the US financial markets, rising inflation and a collapse of the dollar along with rising interest -- all of which would impact the real economy and make sure that recession would get longer and extend into depression.
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