that would make our goods more competitive and reduce our trade deficit. on the other hand, it would be bad for china which would suffer large losses on the dollar holdings. in short, right now america has china over a barrel, not the other way around. david, i know you both have something to say about this. david? well, it s very counterintuitive, isn t it? yeah. that the world s largest borrower has its biggest creditor over a barrel. most of the world doesn t see reality in that way. paul s views drew a sharp rebuke from a leading kmits at morgan stanley, steven roach, who worked a lot on asian issues. we are clearly in the midst of a serious debate at home about what the u.s. approach ought to be toward china. richard, what do you think of the quote? this is a classic beggar thy neighbor policy. when you get one country
it s interesting you bring that up. colin powell speaking on blumberg said you usually oh smooth things over on taiwan and tibet. we have the public say and behind the scenes the diplomacy works, but this time we have google and now these two very famous economists going at it. i wanted to bring this up. so paul krugman said chinese currency policy is adding materially to the world s economic problems at a time when those problems are already very severe. it is time to take a stand. steven roach from morgan stanley when asked, well, isn t that taking a baseball bat at china s policy, he said, we should take out the baseball bat on paul krugman. i have never heard eminent economists insulting each other over china policy. i feel it s a metaphor more what s happening in economic relations. they have been listening to the politicians too much.
series called life. we have had technical problems, so we ll have it to you later today in the 4:00 eastern hour. we hope you stay tuned for that. stay tuned throughout the day for the latest breaking news. meantime your money starts right now. the villains and heroes of the financial crisis who saw it coming and how did they cash in on it big time? welcome to your money . my revealing interview with michael lewis coming up, but we begin with the real cost of health care. what you and i will pay for health care now and in the future. andrew rubin is vp of clinical affairs and host of sirius x mdoc tor radio. what do we see in the near term. the cost of my health care under reform in the next few years? until 2014 when the reforms start to kick in, the actual legislation kicks in, i see a little bit more of the same in terms of cost to insurance premiums. they will probably continue to rise and the system is going to function essentially the same as today, until 2
go good morning and welcome to this week. hopes dashed. the road to recovery is never straight. another 85,000 jobs gone. more than 15 million americans unemployed. the hardest thing is not knowing three months down the road where you re going to be. when will the jobs come back? what can the president do? questions for our headliner, the president s chief economist, christina romer. the buck stops with me. how long did it take you the traelz system failed? team cheney and the gop team them on. robert reich, al hunt, judy woodruff from the pbs news hour. i don t think there s any truth to the rumor. nbc only kantsles you when you re in first place. so we re fine. the white house was hoping that some good news in last friday s jobs report would help turn the corner on a tough first week on 2010. it wasn t meant to be. the jobs engine stalled again. we ll get to that and the rash of democratic retirements as well. we begin with the white house take on why
good morning and welcome to this week. hopes dashed. the road to recovery is never straight. another 85,000 jobs gone. more than 15 million americans unemployed. the hardest thing is not knowing three months down the road where you re going to be. when will the jobs come back? what can the president do? are we headed for a double-dip recession? questions for our headliner, the president s chief economist, christina romer. then the buck stops with me. obama takes the blame for the christmas bomb plot. how long did it take you to realize the system failed? team cheney and the gop team them on. that and the rest of politics with our roundtable. robert reich, al hunt, judy woodruff from the pbs news hour. i don t think there s any truth to the rumor. nbc only cancels you when you re in first place. so we re fine. the white house was hoping that some good news in last friday s jobs report would help turn the corner on a tough first week of 2010. it wasn