Thursday, January 29, 2009

when the world economy is in shambles... blame other countries

Tim Geithner gets flack from the IMF for going after China's manipulated currency.

Wen Jiabao has a different explanation: capitalists. Really.

The Chinese premier, Wen Jiabao, left little doubt that Beijing blamed the United States for the economic breakdown. "Inappropriate macroeconomic policies," an "unsustainable model of development characterized by prolonged low savings and high consumption," the "blind pursuit of profit" and "the failure of financial supervision" all contributed, he said.

This is one problem with the global economy. Any one country can vote its leaders out, but as for who is actually responsible, but the buck stops nowhere.

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