US complaining EU, Japan not consuming enough
The US Treasury Secretary is blaming Europe and Japan for not increasing consumption (i.e. economic growth) enough to match voratious US consumption, which ended up pushing their trade deficit higher.
I expect such irrational and stupid US-based panic should rise higher and higher as the over-valued US dollar tries to maintain itself as the de-facto gold standard (after the US spear-headed the destruction of the international gold standard after World War II).
Perhaps, instead, the US should stop fucking consuming so damn much. (And, of course, Canada, who is just barely behind).
``Mr Snow blamed the latest jump in the trade deficit on the relative strength of US growth compared with a disappointing performance by the eurozone and Japan. He said: We are growing faster than our trading partners and we are creating more disposable income than they are. We need Europe to be more of an engine of growth and we need Japan to be more of an engine of growth.''
"Engine of growth" is just doublespeak for "increasing consumption".