"A strong and durable recovery also requires countries not having an undue advantage." Hmm...

There are a few things going on that don't add up. We have the G-20 where there are foreign leaders telling the U.S. that they are NOT going to keep spending in order to "prime the economic pump" mainly because it's not working.

On the other hand we have a president who for some reason to spite all of the historical evidence thinks that we can spend our way to prosperity. There are many problems with this line of thinking to say the least. It's when Obama said this that my jaw dropped.

"After years of taking on too much debt, Americans cannot -- and will not -- borrow and buy the world's way to lasting prosperity," Obama declared, in an implicit swipe at export-led economies such as China's and Germany's.

"No nation should assume its path to prosperity is paved with exports to America. Indeed, I've made it clear that the United States will compete aggressively for the jobs and industries and markets of the future."

"A strong and durable recovery also requires countries not having an undue advantage," Obama said, demanding "currencies that are market-driven."

In order to have market driven currencies governments would have to stay out of the market. If currencies are market-driven who is to say when there is an undue advantage? If it were determined that there was somehow an undue advantage; how in a market driven society would you alter things to "make it equal?"

Of course this is a swipe at China, who holds U.S. currency to purposely inflate their own currency (keeping the value of their currency lower in relation to the U.S. dollar). This has been going on now for years.

So, we have a president who said that he is not interesting in running a car company, then demands the resignation of GM's CEO. Does anyone really take the U.S. seriously anymore? I don't think that the Chinese do.

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