We are HEADED for a trade war anyway .. make an industry list to protect and get with it?

It's going to start over currencies, and spread.

Last time around we were acting to help the farmers (Smoot Hawley).
Now we are only trying to prevent KILLING deflation.

Perhaps once a worldwide recession reaches a certain point, it can' end any other way.

If so, forthright action to wall off US industries which are critical and must be grown needs to be ready.

DRILL BABY DRILL. We might need to depend on ourselves alone, YOU FREAKING GAIAN PUTZES

U.S. dollar printing is huge risk -China c.bank adviser

Wed, Nov 3 2010

BEIJING, Nov 4 (Reuters) - Unbridled printing of dollars is the biggest risk to the global economy, an adviser to the Chinese central bank said in comments published on Thursday, a day after the Federal Reserve unveiled a new round of monetary easing.

China must set up a firewall via currency policy and capital controls to cushion itself from external shocks, Xia Bin said in a commentary piece in the Financial News, a Chinese-language newspaper managed by the central bank.

"As long as the world exercises no restraint in issuing global currencies such as the dollar -- and this is not easy -- then the occurrence of another crisis is inevitable, as quite a few wise Westerners lament," he said.

Germany Concerned About US Stimulus Moves

GERMANY, US, STIMULUS, FEDERAL RESERVE

Reuters

| 04 Nov 2010 | 09:03 AM ET

German Economy Minister Rainer Bruederle said on Thursday he was concerned at U.S. efforts to stimulate growth by injecting liquidity into its struggling economy.

"I view that not without concern," Bruederle said, adding that a variety of measures were needed to solve the problem and it was not enough to pump in liquidity alone.

"We hope the U.S. economy gets back up stronger on its feet," he said.

Bruederle also said there was some truth to the criticism that the United States was influencing the dollar's exchange rate with monetary policy and voiced concern about increased protectionism in different forms around the world.

In First Press Conference Brazil's New President Says Currency War Can Lead to Real War

Brazilian president Luiz Inácio Lula da Silva and the president elect, Dilma Rousseff, held a joint press conference. What follows is a summary of what Rousseff, said to reporters on a variety of subjects:

Economy - Dilma said that everybody except the United States and China can see that there is a currency war underway that cannot be resolved by any one country by itself. She added: "Individual solutions leave countries unprotected and when you start competitive currency devaluation you get what you got [60 years ago]: the Second World War."

Related articles

• UPDATE 1-Germany concerned by Fed stimulus measures (reuters.com)
• Goodbye, Free Trade? (online.wsj.com)
• Brazil's Dilma Rousseff Calls for Ending Currency War (businessweek.com)
• German EcoMin Opposes Fed QE2; Can Be Seen as FX Manipulation (forexlive.com)
• Emerging market policymakers slam Federal Reserve move (reuters.com)
• U.S. dollar printing is huge risk -China c.bank adviser (reuters.com)
• "Japan escalates currency war with US, China" and related posts (weblogs.baltimoresun.com)
• China says flood of dollars could spark new crisis (sfgate.com)