The U.S. manipulates it's currency too.
The “mortgage crisis” has nothing to do with China.
It has EVERYTHING TO DO WITH DEMONCRATS.
It was incremental passing of laws till it got to the point where we went past a “chicken in every pot” to a house to whoever couldn't afford it.
We'd better be nice to China. They OWN OUT ever increasing DEBT that we as a NATION ran up.
Exactly, the definition of spending more than you earn is DEMOCRAT.
The other side of the coin is that china better be careful, because we owe them lots and lots of money.
The deficit spending by the US government is, guess what, the fault of the US congress and the executive branch.
Our government goes into massive debt and finances this debt by selling it to, among others, China. Then our deficit spending spree is China’s fault because it bought our debt? That is beyond stupid.
It is way past time for congress to be blamed for running the currency printing presses at full blast for decades.
Will Senator Dodd and his cohorts have to stand in line with a wheelbarrow full of money in order to buy bread? As we will have to do when the hyper inflation hits THAT THEY CAUSED.
The degree of absolute stupidity and chutzpah encapsulated within this article represents the apogee of Democrat blame apportioning for their own stupidity. The “its not my fault, it’s yours!” rhetorical weapon honed to a razor sharp absurdist edge.
A man who spends more than he earns, opens up multiple lines of credit, saves nothing, and then ends up in bankruptcy has no one to blame but himself.
China manipulates it currency, then again, so does everyone else. The fundamental truth is all currencies are not simply valued by the market but rather are heavily influenced by central bank policies with the U.S. dollar at the core of the global system of government manipulation.
China has not flooded the world with cheap currency in the slightest. The Yuan is not a freely convertible nor does China use it’s trade generated surplus to invest. Nearly all of it is dumped with U.S. treasuries and bonds. The capital glut was exacerbated by the Japanese Yen carry trade where investors could borrow at no cost from the BoJ due to zero interest rates and then invest it elsewhere.
Exculpating the failures of U.S. financial regulators is absurd. It’s admitting that many of them were massive failures and then turning around and saying because so many failed that they weren’t responsible for failing.
Asset value bubbles can be avoided easily, simply stop printing money and raise interest rates and presto, no more credit fueled asset bubbles. Something that Greenspan and the federal reserve were simply not willing to do.
Blaming Chinese capital for excess liquidity in the U.S. is like blaming bigfoot for you forgetting your wife’s anniversary. Interests rates were, are, and continue to be higher in China than in the U.S. which has followed a low interest rate policy as par course (it is effectively at 0% now). Only in Obamaland can someone make money borrowing at 8% in China, investing in the U.S. at 2% all at the same time the Yuan appreciates by 20% against the dollar. This kind of nonsense 2 + 2 = 5 Chewbacca Defense would be pathetic were it not so alarming that so many idiots would actually believe in it. The culture of responsibility and common sense is so sadly missing in America today.