The thrust of my argument was US has to put its house in order to be credible. Their huge trade & current account deficits are unsustainable and will make the whole world monetary system go into a tail spin. I get the feel that the US is smug, as it has got away with printing dollars and attracting investment in Treasury Bills etc to meet the huge deficits.
The bottom has to give way at some time. Though we have our poverty to content with, let India be prudent, learning from the American excessess of capitalism while embracing the plusses with a pinch of salt.
