Perhaps I am the only one who finds great irony in Timmy Geithner flying to China to tell a "central command economy" on what to do. Then again, one country is opening up to a more capitalistic standard (relatively speaking) while the other turns more to central planning. I'll let you figure out which is which...but in that vein, this makes perfect sense. "Look (Chinese) fellas - our consumer is out of control. We give them easy money and they keep buying your stuff. When they default we tell them it was those mean banks and the print on their mortgage was too small. It's crazy out there in the States. Clearly it is not our fault that we solve every problem by raining easy money from the heavens... hence after careful study we've figured it's your fault."
"p.s. could we borrow another $500 Billion?"
Next on the roadtrip, Geithner was to go to rural Thailand to teach them how to properly work a rice paddy. Then off to South Africa to tell them how to properly mine for gold.
Via WSJ [1]
No matter what crisis we bring to the world, there is no humbling us. How about we deal with the root causes in the mother country?
Links:
[1] http://online.wsj.com/article/SB124352913219063157.html#articleTabs=article