Why does my page redirect to localhost in my wordpress blog?

Check the Dashboard -> Settings -> WordPress Address (URL), Site Address (URL) There should NOT be 'localhost'

Check your wp-options table and find all occurrence of 'localhost' in option_value field

http://codex.wordpress.org/Database_Description#Table:_wp_options

SELECT * from wp_options where option_value like '%localhost%';

and change those to your live URL and you should be set

Here's a very extensive documentation on migrating wordpress http://codex.wordpress.org/Moving_WordPress