Krugman - We Need Higher Prices or a Trade War

According to New York Times columnist Paul Krugman (left), those dastardly Chinese are selling the rest of the world goods they want to buy, at a price that is just too low. He says this action comes at the rest of the world's "expense." Hmmmm. This complex line of economic thinking might be a little too subtle for most of us working stooges to grasp.  In any event, while Kruggie doesn't come right out and call for price hikes on items we all purchase, he does indicate that the Obama administration should start a trade war with China if it cannot convince the Chinese to raise the value of their currency and therefore their goods. It is an interesting take, especially from an ecnomist who was constantly lamenting budget deficits from 2001 to 2009, before falling curiously silent on fiscal discipline issues since then. Read Krugman's his latest ideas on China here:

Krugman - We Need Higher Prices or a Trade War