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Disingenuous New York Times Story on Global Imbalances

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Fed-governor Ben Bernanke's depiction of so-called global imbalances stated not that Americans spend too much, but that foreigners save too much. This was rationalization of a clearly unstable and unsustainable pattern. But rather than try to find a way out, or at least keep it from becoming more pronounced, Bernanke recommended doing nothing.

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Related Topic(s): Deflation; Global Financial Collapse; Globalization-WTO-WB-etc; Leverage; Manufacturing; National Debt -Trade Deficit; StoryTelling, Add Tags

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