Philosoraptor

Sunday, November 18, 2007

The Economic Consequences of Mr. Bush

Stiglitz, at Vanity Fair.

I sure hope he's wrong.

Anonymous said...: You don't need to be a weatherman
to see which way the wind blows

I can't see where Stieglitz would be wrong. It's hardly rocket science to know that $4trillion is a lot of money to owe. Or that $200billion/year in interest is a good way to fuck yourself over. It's no wonder they are going for inflation and devaluation lately, while continuing to intone the mantra of the strong dollar, like some kind of cargo cult.

-mac; 2:35 PM
Anonymous said...: More on that topic.

Iran calls the dollar 'worthless, according to BBC. Admittedly, Ahmadinejad has reason to insult the US, but he shouldn't be able to make comments like this and be taken seriously. Thanks to Bush & friends, he can.
Meanwhile, my salary and bank account are just taking a beating in parallel. I suppose if I were one of those punters who got badly in debt, I'd be happy ... at least until the banks started cranking up the interest to match inflation.

-mac; 8:01 PM