REMEMBER THE DAYS WHEN THE US DOLLAR REALLY MEANT BIZ-NEZ???
(Try using it in Europe...)
I'm not here to comment on the fiscal package that the US Senate failed to endorse today. I want to say that they should follow the example of Sweden in 1996 when the government provided funding but took stakes in banks, thus nationalizing them.
But Hank Paulson and Jamie Dimon I am not. If I was, I wouldn't be a lowly blogger.
ANYWAY----from yesterday's Financial Times....And if you read this, you will agree that WE DO live in interesting times....
'...But, as one European head if state explained at an off-the record breakfast, the discrediting of an open market democracy is dangerous for all the countries of what we used to call the west. 'It is very damaging,' he said, 'Some people are trying to see this as a failure of western values, of capitalism overall. When I met African leaders this week, some of them said to me, 'Maybe we should follow the Chinese model, instead, authoritarianism seems to work for them.'"
US Managing editor
At the risk of sounding inconsiderate----I admit I am. Children have never been my cause. The only cause they give me is cause for alarm if ever I find out I was pregnant or if they barf on my rugs. I agree with this except in instances where my dog food is poisoned. (Iams and Pedigree were not our brands, anyway) And I don't use milk powder or buy Barbie.
....It is assumed that the US can borrow without limit. In fact, the US has a budget constraint--less binding than that of other countries, to be sure, because of the dollar's reserve-currency status and other factors, but there nonetheless. This limit is about to be tested and if the global capital market decides enough is enough, the challenge confronting the Treasury and the Federal Reserve will make even last week's exertions seem mild....
The next administration's fiscal options are vanishing before our eyes, Somebody should tell the candidates and the country."
O--yan..mga 'anonymous' commenters and people opening blogs behind pseudonyms..maybe YOU GUYS tell the American peeps because I don't think the next Prez is about to say anything.