You know you have hit the skids as a capitalist country when the Chinese are critiquing your central government policies like a robber baron watching a drunk spend his salary on Friday night: Mr Cheng said the Fed's loose monetary policy was stoking an unstable asset boom in China. "If we raise interest rates, we will be flooded with hot money. We have to wait for them. If they raise, we raise. "Credit in China is too loose. We have a bubble in the housing market and in stocks so we have to be very careful, because this could fall down." Mr Cheng said China had learned from the West that it is a mistake for central banks to target retail price inflation and take their eye off assets. "This is where Greenspan went wrong from 2000 to 2004," he said. "He thought everything was alright because inflation was low, but assets absorbed the liquidity." And, by gosh, the Chinese actually start to sound like ... Ron Paul(?): Cheng Siwei, former vice-chairma...