Michael Savage on China wiping out US Industry

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Michael Savage on China wiping out US Industry

Post by  on Tue Dec 28, 2010 10:42 pm

Outspoken talk-radio host Michael Savage warns that China is steadily wiping out the American industrial base and “burying” the United States by keeping the value of its currency artificially low.

Savage, whose talk show is heard by over 9 million radio listeners each week, writes about the attack underway against the U.S. middle class in his new book, “Trickle Up Poverty: Stopping Obama’s Attack on Our Borders, Economy, and Security.”

The political clamor over China’s trade and currency policies has been steadily building in recent months, in part because of the sluggish economy and high U.S. unemployment.
“They’re burying us,” Savage tells Newsmax.TV in an exclusive interview. “They are controlling the world’s economy by keeping their currency too low, so they can continue to export cheaply . . . And also it cripples those of us in other countries who want to export to China.

“And so unless we impose tariffs on their goods,” he says, “we’re going to lose every industry. We have lost our machining industry, lost our steel industry, we’ve virtually lost most of our auto industry.”

The Beltway clamor over China’s trade and currency policies has been steadily building in recent months, in part because of the sluggish economy and high U.S. unemployment.

In September, Congress passed legislation allowing tariffs to be levied against any country that manipulates its currency to gain a trade advantage. That move was widely condemned in China, which alleged the United States was dumping chickens and slapped a tariff on U.S. poultry imports.

Savage isn’t alone in sounding the alarm. This month, billionaire Donald Trump objected to China’s policies and stated “outside forces are destroying this country.”

Savage warns America must act quickly or risk losing its remaining industrial base.

“Unless tariffs are put on their goods, the few industries that remain in this nation that are viable are liable to disappear very, very shortly,” Savage warns. “And the only way to save America is to institute tariffs on specified industries, and to rebuild the manufacturing base of the United States of America.”

Savage sees the trade imbalance with China as part of a larger assault on America’s middle class. “For at least 150 years,” he says, “it was the great middle class that made America unique.”

The policies of President Barack Obama and Democrats in Congress are now hurting those middle-class citizens, he says.

“You know, Obama came across as a Robin Hood, who was going to rob from the rich to give to the poor,” Savage tells Newsmax. “The exact opposite is true. He’s not robbing from the rich to give to the poor. He’s shrinking the middle class, to give to the rich and the poor.”

The common theme in all of Obama’s initiatives, including healthcare reform and new forms of regulation, Savage says, is that the middle class ultimately foots the bill.

“And that’s why there’s an uproar in the country,” Savage says in the exclusive interview. “That’s why the tea parties are surging. That’s why the tea party candidates are showing so well in polls: Because the people who actually pay the taxes are revolting. And I hope to God they revolt at the ballot box.”



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