Monday, July 02, 2012

Happy 4th of July and Thanks to China for Saving Americans Millions of Dollars on Flags & Fireworks

And here are some Fourth of July 2012 Facts from the Census Bureau, including the fact that we imported $232 million worth of fireworks and $3.3 million worth of U.S. flags from China last year.  To the extent that China artificially undervalues its currency and overvalues the U.S. dollar as is frequently claimed, China will help the U.S. celebrate the Fourth of July by saving American consumers millions of dollars on the fireworks (China supplies almost all of our fireworks according to the WSJ) and flags we purchase to celebrate Independence Day.  

As I pointed out on CD last year, we should be thankful for the generous foreign aid that China provides to the United States through its undervalued currency, which saves American consumers billions of dollars every year on China's undervalued goods we're able to purchase with an overvalued dollar.  

3 Comments:

At 7/02/2012 11:18 PM, Blogger Don Culo said...

China does not supply 100% of our fireworks.

Several friends and I make a run to Mexico every year to buy our safe and fun fireworks.

 
At 7/03/2012 12:29 AM, Blogger Ron H. said...

"China does not supply 100% of our fireworks.

Several friends and I make a run to Mexico every year to buy our safe and fun fireworks.
"

But where are they made?

:)

 
At 7/03/2012 10:01 AM, Blogger Buddy R Pacifico said...

"(China supplies almost all of our fireworks according to the WSJ)"

Of course they do. They hold the rights to...

huo yao" ("Fire Chemical").

BTW, interestingly, the essential ingrediant in huo yao is KNO3, which can have the opposite effect in men. :>)

 

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