dinsdag, januari 12, 2010
Bankruptcy could be good for America
n Winnie-the-Pooh, there is a significant moment when the bear is asked whether he wants honey or condensed milk with his bread. He replies “both”. You can get away with this sort of thing if you are a much loved character in children’s literature. But it is more problematic when great nations start behaving in a childish fashion. When Americans are asked what they want – lower taxes, more lavish social spending or the world’s best-funded military machine – their collective answer tends to be “all of the above”.By Gideon Rachman
Read more >> | The Financial Times
Labels: Financial Policy, United States
- posted by DD @ 2:44 p.m. Perma Link/Print
Op dit werk is een Creative Commons Licentie van toepassing.
1 reacties:
Rachman is arguing that a bankruptcy of the US would be healthy. In the past several bankrupt countries, like China, India and Germany are doing just fine after the crisis.
Change would be good, but I dread the immense power vacuum that a bankrupt US would give.
And a power vacuum would turn the world in a nasty place.
Een reactie posten
Aanmelden bij Reacties posten [Atom]