In his recent visit to China, the Obama Administration's treasury secretary, Tim Geithner, was laughed at by Chines university students, see Reuters June 1.
Geithner brazenly announced to the students that Chinese investments in the U.S. are safe because the current U.S. administration believes in a sound dollar.
No wonder the audience erupted in laughter. The students thought they were going to attend a serious discussion about international economic issues and Geithner starts a "Tonight Show" monologue.
How do supporters of this administration feel now? They loved to criticize the Bush Administration for diminishing U.S. stature overseas but now their treasury secretary is treated like a circus act.
The students understand that recklessly spending and printing money is inflationary.