Congress is bluffing!

Comments on Karen Maley “Congress calls China's bluff”, 16/03/2010, http://www.businessspectator.com.au/bs.nsf/Article/Congress-calls-Chinas-bluff-pd20100316-3KRDF?OpenDocument&src=sph

Krugman is no saint and is certainly hypocritical!

He thinks he got the Nobel Prize and what he says is truth. Far from it!

Did China force the US sub-prime mortgage practice? Wasn't that practice the fundamental cause of the GFC?

Which country caused the world great damage through the export of its own GFC to cause the world GFC? The US or China?

Who has long had very low savings rate and high budget deficits? Did any other countries have the power to force the US to do that in the past, say few decades?

The US has been used to power politics or imperialism, either military or economic. It congress thinks it has the power over the world and force any other countries according to its will and wayward.

But unfortunately for them, those days seem to be over and they have to come to terms with their own vulnerabilities. The sooner they realise it, the better it will be for them. Otherwise, they will be more deeply disappointed, not with others, but themselves.