The title of this piece comes straight from a Financial Times article posted this morning. The German finance minister leveled the cannons and blasted away at US policy, daring to point out that emperor has no clothes.
In a vigorous and unflinching attack, he described US economic policies as “clueless” and pointed out that the US stance towards China’s exchange rate policy is hypocritical.
In several of the scenarios that I have written, I have used ‘words’ from a German official as the trigger for massive, disruptive change. So perhaps I am overly sensitized to this particular development, but I am convinced that this is exactly how the ball gets rolling; someone in a position of authority speaks the truth.
(Emphasis mine)
Germany attacks US economic policy
Germany has put itself on a collision course with the US over the global economy, after its finance minister launched an extraordinary attack on policies being pursued in Washington.
Wolfgang Schäuble accused the US of undermining its policymaking credibility, increasing global economic uncertainty and of hypocrisy over exchange rates. The US economic growth model was in a “deep crisis,” he also warned over the weekend.
His comments set the stage for acrimonious talks at the G20 summit in Seoul starting on Thursday. Germany has been irritated at US proposals that it should make more effort to reduce its current account surplus.
by sagerxx 
