Tuesday, June 22, 2010

How Can Anyone Take These Newspapers Seriously?

I opened up the local Minneapolis paper to the Business Section today and found an article titled "Winners And Losers From A Stronger Yuan." It only took two paragraphs to discover that the Associated Press' Christopher S. Rugaberl had a point of view:

China's decision to let its currency rise in value adds buying power to its exploding middle class — a win for American electronics makers, which can sell more computers and iPods to a hungry market.

At the same time, it puts a squeeze on U.S. retailers like Walmart because Chinese-made imports suddenly cost more.

(emphasis added)

Got that? It was good for the Chinese people but not bad for American people - just bad for those nasty American retailers! Whatever happened to symmetry? Well I suppose that was taught in Geometry Class. And they told the Journalism majors there would be no math!

Why no recognition that this might affect American consumers? Maybe because this guy and his administration had been calling for it. And the AP wouldn't say anything negative about him.