raghu wrote:
On Thu, Nov 6, 2008 at 10:00 AM, Jim Devine <[EMAIL PROTECTED]> wrote:
I think Dean Baker would make a good Secretary of the Treasury.
Thats too far fetched. I'd be thrilled with Warren Buffett. Among the
billionaire types, he is about as progressive as you can expect and
certainly a huge improvement over Summers or Rubin.
-raghu.
What are we supposed to expect from a Sec. Treas. who seeks and gets a
10% return on investments in an economy that cannot be expected to grow
by more than 2% over the term?
He either doesn't realize or doesn't care that his fees are either
passed-on costs, born by millions as they withdraw real output from the
economy for personal consumption, with all the detriment in achievable
living standard this entails; or he is simply further destabilizing our
many times over-claimed economy, having led to the current crash in the
first place.
The only economist I'm aware of with an adequate grip on the above
reality is Michael Hudson; chief economic adviser of Dennis Kucinich.
John V
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