UGLY Jim Hoagland wrote in The Washington Post >The fundamental problem in Russia, Indonesia, Malaysia and elsewhere was >not that they went too far in adopting American-style capitalism, as >ideologues have begun to claim. These nations did not go far enough. >They sought comfortable halfway approaches that quickly proved >unsustainable. Is this UGLY cracker _really_ saying that what these countries need to do is to establish their currencies as hegemonic reserve currencies and then just export their miseries to the rest of the world and import "price stability" by running huge balance of payments deficits decade after decade. After all, isn't that what "American-style capitalism" is all about? Or am I just un-absurdeming his UGLY reductio? Regards, Tom Walker ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ #408 1035 Pacific St. Vancouver, B.C. V6E 4G7 [EMAIL PROTECTED] (604) 669-3286 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ The TimeWork Web: http://www.vcn.bc.ca/timework/
