Deficit reduction and the printing press

It is bad when the Europeans are lecturing us about fiscal responsibility…

 

From: Cindy Trout

 

 ' After five largely harmonious meetings in the past two years to deal with the most severe downturn since the Depression, major disputes broke out between Washington and China, Britain, Germany and Brazil.

Each rejected core elements of Mr. Obama's strategy of stimulating growth before focusing on deficit reduction. Several major nations continued to accuse the Federal Reserve of deliberately devaluing the dollar last week in an effort to put the costs of America's competitive troubles on trading partners, rather than taking politically tough measures to rein in spending at home.'

http://www.nytimes.com/2010/11/12/business/global/12group.html?src=me