This Just In: China Caused the World-Wide Mortgage Crisis by Manipulating its Currency!

Sebastian Mallaby, an OpEd guy for the Washington Post, makes a convincing case that China caused the global mortgage bubble that caused the global mortgage crisis that wreaked the global economy.

They intentionally cheapened their currency and consequently ran a huge trade surplus. The profits from that trade surplus washed over the US and the developed world like a tsunami and the mortgage / housing bubble ensued. Said bubble has since burst and the worldwide economy is now in the shambles.

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