On Friday, December 5, 2008 at 10:15:45 (-0500) Louis Proyect writes: >http://www.zcommunications.org/znet/viewArticle/19853
The writer, after noting the "steep deficit spending" seen on the horizon by the Wall Street Journal, quotes with approval "Merrill Lynch economist David Rosenberg" who claims "it was excess (debt and) leverage that got us into this mess", which is conventional, but I think quite wrong, as Dean Baker has pointed out. Rosenberg then claims we need savings to rise to get us out of this mess, which seems a recipe for disaster. Bill _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
