Release from the G-20: What More Needs to be Said?

Released at 4:04 PM EST by the Wall Street Journal: “China's Hu Rebuffs Weakened Obama at Summit” by Jonathan Weisman and Damian Paletta. (http://professional.wsj.com/article/SB10001424052748703848204575608024073731214.html?mod=WSJ_hpp_LEFTTopStories)

“That China was emboldened to lecture the U.S. on its currency, a notable reversal of recent meetings, underscores how it and other countries, including Brazil and Germany, have emerged from the global economic crisis faster and more strongly than the U.S. Mr. Obama found himself in the odd position of having to defend the U.S.'s independent central bank. He was also unable to quell concerns that the U.S. government is deliberately trying to weaken the dollar to boost exports.”

When are the leaders of the United States going to recognize that they are out-of-step with the world and that the economic model they are using is out-of-date and inappropriate?

China better not get too aggressive, however, because they continue to benefit from the short-sightedness of the United States leadership. Ah, but it feels good to lecture someone else after one has been down so long!