I have recently had 2 guest posts published on Naked Capitalism. As they are lengthy and not typical fare for EBR, and as their formatting is better suited for NC, I am providing links to them. They comprise a 2-part unified set of posts, and bookending other posts linked to in the second part. These are the titles and links.
Debate on Deficits
On, and Beyond, Deficits
Copyright (C) Long Lake LLC 2009
Sadly, Bernanke et al with their incessant money pumping are doing the right thing. They just haven't disclosed the true diagnosis. The USA is a late stage democracy, full of hardened arteries, chronic back pain, reduced mental capacity, and worst of all, an infestation of tapewormic parasites, namely finance, big pharma, etc. The recent spasms are just signs that the parasites are now nearly killing the host. All we can do now is pump blood (money) for life support. Too bad much of it goes to the parasites as well. How do we get out of this? I think that's what some at the top have realized--the only way to kill the parasites is to let the host die, and allow possible chaos (war?) as a result until a new fresh system can be built. We can but watch.
ReplyDeleteAnon:
ReplyDeleteI'm not all that hopeful, either, but perhaps things are not quite so hopeless as you suggest.