Friday, August 10, 2007
Good comments on China – PAUL CRAIG ROBERTS Assistant Secretary of the Treasury in the Reagan administration
This is a grim outlook. We got in this position because our leaders are ignorant fools. So are our economists, many of whom are paid shills for some interest group. So are our corporate leaders whose greed gave China power over the US by offshoring the US production of goods and services to China. It was the corporate fat cats who turned US Gross Domestic Product into Chinese imports, and it was the “free trade, free market economists” who egged it on. How did a people as stupid as Americans get so full of hubris?