Monday, May 19, 2008

Obama's Inexperience shines through

From the WSJ:

'Speaking to a crowd of farmers in a barn, Barack Obama cited the Japanese not selling American beef as an example of how current trade policies have hurt rural communities.

But Japan lifted its ban on American beef almost a year ago in June. The country had banned imports in 2003 after an outbreak of mad-cow disease.

But the problem is not, as Obama said, that the Japanese refuse to import American beef. Rather, it is that American beef now faces stiffer competition with Australian beef, which has made major inroads in the market in recent years.

Either this guy is not well versed in economics (highly probable) or he just speaks off the cuff and does not listen to his economic advisers (highly possible).

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