Title: Re: [PEN-L:20542] RE: Baker on external
debt
I have yet to hear a Bushie express
anxiety about the
trade deficit. The fact that "foreigners" own more
U.S.
assets might mean little to the Bushies if they own the
foreigners.
mbs
good point, max. Robert Gilpin has made
I have yet to hear a Bushie express anxiety about the
trade deficit. The fact that "foreigners" own more U.S.
assets might mean little to the Bushies if they own the
foreigners.
mbs
A paranoid thought: what if George Bush's efforts to create a US-dominated
world government is an effort to chan
"Devine, James" wrote:
>
>
> Another question: do pen-l people agree with Baker that "The cause of the
> [2001 U.S.] recession was the collapse of the stock market bubble"? I'd say
> that the popping of the bubble was only the _proximate_ cause, as in 1929,
> but that the U.S. economy was ridi
In his highly-useful article "The New Economy Goes Bust: What the Record
Shows" [http://www.cepr.net/new_economy_goes_bust.htm], Dean Baker comments
on the fact that the US has replaced its government deficit (taxes <
spending) and debt accumulation with an external deficit (exports < imports)
and
