Shouldn't it be pointed out, though, that the interest of the majority of Americans in a high dollar is far from obvious...
On Fri, Sep 19, 2008 at 3:04 PM, Jim Devine <[EMAIL PROTECTED]> wrote: >> America will need a $1,000bn bail-out >> By Kenneth Rogoff >> Financial Times >> September 17 2008 >> > snip >> A large expansion in debt will impose enormous fiscal costs on the US, > ultimately hitting growth through a combination of higher taxes and lower > spending. It will certainly make it harder for the US to maintain its > military dominance, which has been one of the linchpins of the dollar.< > > it's interesting that Rogoff admits the role of US hegemony here. I > guess I shouldn't be surprised, since I heard him on the radio awhile > back saying that hyperinflation typically arises not from an > excessively increased money supply (which is just a symptom) but from > a government being unable to balance its budget due to domestic > conflicts... > -- > Jim Devine / "Nobody told me there'd be days like these / Strange days > indeed -- most peculiar, mama." -- JL. > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Robert Naiman Just Foreign Policy www.justforeignpolicy.org [EMAIL PROTECTED] Ambassador Pickering on Iran Talks and Multinational Enrichment http://youtube.com/watch?v=kGZFrFxVg8A _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
