Me:
>> We should remember that the U.S. is still the most powerful country in
>> the world along several dimensions. This means that the rentiers are
>> likely to keep their faith in the Treasury long after they've given up
>> on California and Greece. (T-bills are still the safest of havens.)
raghu:
> In the simplest of terms, where else are they (i.e. the rentiers)
> going to go? A few months back, it was conceivable that the Euro could
> emerge as an alternative safe-haven. But that is not the case anymore.
you're right about that. It just strengthens what I said.
--
Jim Devine
"Those who take the most from the table
Teach contentment.
Those for whom the taxes are destined
Demand sacrifice.
Those who eat their fill speak to the hungry
of wonderful times to come.
Those who lead the country into the abyss
Call ruling too difficult
For ordinary folk." – Bertolt Brecht.
_______________________________________________
pen-l mailing list
[email protected]
https://lists.csuchico.edu/mailman/listinfo/pen-l
