Imagine that: News media reporting actual facts about economics. Hmmm. Doug Henwood's interview with Mark Weisbrot last month is a good rundown of the situation. He cites an overwhelming array numbers that back this up.
http://www.leftbusinessobserver.com/Radio.html#S120324 I'm sure those with more of a handle on the situation could find elements to contest, but overall it seemed a rather convincing example of how default might be the best route. According to Weisbrot, it wasn't entirely bad for bondholders either, since they still may be paid out - only now with money from the country's rebounded economy, rather than lucre squeezed entirely out of the lower classes. On that note, since it was likely less of a concern for NPR, Wiesbrot claimed that something like a quarter of the population had also been brought out of poverty in the process. In a different world, that would be the ultimate mission of growth, of economics even. It's no socialist paradise, but its better than the place we're headed now. s On Wed, Apr 18, 2012 at 22:03, Jim Devine <[email protected]> wrote: > On U.S. National Public Radio this afternoon, I heard NY TIMES > reporter Simon Romero, discussing the Argentine economy. Despite the > fact that he seemed to get a lot wrong about Chavez when he reported > from Venezuela, he says something that lefty economists have been > saying for awhile: default on its international debt has been very > good for Argentina's economy. > > -- > Jim Devine / "In science one tries to tell people, in such a way as to > be understood by everyone, something that no one ever knew before. But > in poetry, it's the exact opposite." -- Paul Dirac. Social science is > in the middle.... and usually in a muddle. > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
