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The degree of absolute stupidity and chutzpah encapsulated within this article represents the apogee of Democrat blame apportioning for their own stupidity. The “its not my fault, it’s yours!” rhetorical weapon honed to a razor sharp absurdist edge.

A man who spends more than he earns, opens up multiple lines of credit, saves nothing, and then ends up in bankruptcy has no one to blame but himself.

China manipulates it currency, then again, so does everyone else. The fundamental truth is all currencies are not simply valued by the market but rather are heavily influenced by central bank policies with the U.S. dollar at the core of the global system of government manipulation.

China has not flooded the world with cheap currency in the slightest. The Yuan is not a freely convertible nor does China use it’s trade generated surplus to invest. Nearly all of it is dumped with U.S. treasuries and bonds. The capital glut was exacerbated by the Japanese Yen carry trade where investors could borrow at no cost from the BoJ due to zero interest rates and then invest it elsewhere.

Exculpating the failures of U.S. financial regulators is absurd. It’s admitting that many of them were massive failures and then turning around and saying because so many failed that they weren’t responsible for failing.

Asset value bubbles can be avoided easily, simply stop printing money and raise interest rates and presto, no more credit fueled asset bubbles. Something that Greenspan and the federal reserve were simply not willing to do.

Blaming Chinese capital for excess liquidity in the U.S. is like blaming bigfoot for you forgetting your wife’s anniversary. Interests rates were, are, and continue to be higher in China than in the U.S. which has followed a low interest rate policy as par course (it is effectively at 0% now). Only in Obamaland can someone make money borrowing at 8% in China, investing in the U.S. at 2% all at the same time the Yuan appreciates by 20% against the dollar. This kind of nonsense 2 + 2 = 5 Chewbacca Defense would be pathetic were it not so alarming that so many idiots would actually believe in it. The culture of responsibility and common sense is so sadly missing in America today.