Debt woes in Europe could infect U.S.recovery
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#1 Feb 10, 2010
"Unlike Western economies, China never dipped into a full-fledged recession. Thanks to enormous government spending and government-orchestrated bank lending, China rebounded quickly to a strong growth path" What a load of shite. West did the same only more so and look what it(didn't)get 'em. How these guys can so consistently get the story so wrong can only be deliberate. "But Beijing's recent economic saber-rattling at the United States have increased trade tensions between the world's largest economy and a country poised to soon surpass Japan for second place" How these guys can lie! The US is doing the economic bullying, and China long ago passed Japan to be the second biggest economy, soon to be the first. "The Obama administration says it wants to move away from an economy fueled by heavy consumer spending and reliance on imports toward what economic adviser Lawrence Summers calls "an economy that's based on investment, that's based on exports, that's based on saving." What a hoot! Not a chance in hell
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