Thursday, September 18, 2008

Category 4

PZ sends this economics lesson that even I can understand.
What is really going on, at the most fundamental level, is that the United States is in the process of being forced by its foreign creditors to begin living within its means.

1 comment:

mlutwak said...

Well, one could also say that this represents the results of successful deregulation -- yet another batch of pigeons come home to roost.

The corporate-driven Republicrats have so accelerated the logic of early 21st century capitalism that we're seeing "normal" business cycles spinning ever greater out of control.

One could start with the lead editorial at Monthly review. (