Alan Greenspan’s Call of Checkmate on China is Premature
June 18, 2007 - In her recent speech to the Democratic National Committee Clinton told the story of one of her New York constituents that approached her and complained about the loss of manufacturing jobs with the question: “Why can’t we get tough on China?” Hilary replied,“How do you get tough on your banker?” It’s not only China, but the U.S. economy now depends on the Middle East as well to keep its economy going. The situation has reversed almost 180 degrees from the past where developing countries’ economies could tank overnight based upon the decisions of the U.S. Federal Reserve (and they did – remember what happened to Argentina in the 1970’s?) Now, other countries hold the fate of the U.S. economy in their hands.
1 comment June 18th, 2007
