Must reading. A big time bond trader says the emphasis on short term deficit cutting is suidical.
Our learn-nothing leaders, both the Republicans who are trying to destroy the economy (anything to destroy the Kenyan Marxist) and the Democrats, who always seem to accept the Republican frame, have ignored guys like Krugman and Baker, who have been pretty much right about everything. They have preferred to listen to the people who got us into this mess, and who remain clueless about how to get us out. Maybe when a rich guy speaks, they’ll listen.
Somehow, I doubt it.
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