Friday, November 5, 2010

China, Trade Imbalances, Undervalued Currencies, and Deceivers

John Cochrane is a really, really smart economist.  Here, (here for pdf) he explains why recent pronouncements at the G-20 meetings from our Tax-Cheat-In-Chief, Timothy Geithner, are amazingly idiotic.

In an earlier EconoBlast post (here), I explained why blaming the Chinese is pretty much just a diversionary tactic.  I also observed here that Geithner is not to be taken seriously.

Yet, after all, he does have a duty to be a team player for BHO and crew, right?  It is disappointing, though, that a well-trained economist like Geithner can't find it within himself to speak the economic truth.  Never mind.  We do have John Cochrane to help us out.

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