Thoughts from the Frontline

The Weather Equalization Act

By John Mauldin

September 12, 2003

The Weather Equalization Act
Workers of the World, Unite!
Who Really Owns the Debt?
A Single Flight of Planes
A Question for my non-US Readers

This week we deal with tariff proposals and other absurdities, the Chinese and the huge rise in their holdings of US debt by foreign governments, plus one of the more profound pieces on the events in New York, presciently written more than 50 years ago. At the end, I ask my non-US readers a question about investment laws and practices in their country.

A good starting place this week is the legislation introduced in the Senate (SB.1586) to add a 27.5% tariff to Chinese goods unless they allow their currency to float. This is bi-partisan idiocy of the first order, sponsored by three Democrats (Senators Schumer, Bayh, and Durbin) and three Republicans (Senators Bunning, Graham, and Dole). It is legislation like this that sometimes makes me despair for the future of the Republic. It is pandering of…

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