mini essay economy
November 26, 2008 § Leave a comment
it is striking how much we have a broad press view that the bailout has been a handout without restraint, and impossibly costly. ye here is some hope that it will "work".
There are two problems.
First, we do not have enough industrial base to sell to the world to even pay the interest. hence we are in de facto default.
Second, "success" will be defined as saving banking, moving toward a balanced budget y 211, and this will men that much of the population is left behind, in jail, miserable, and angry. But the press won’t, as it hasn’t been, be writing about these people.
Further, the shift to green jobs and infrastructure. Who has done he analysis of the availability of raw materials, the energy costs, and the availability of multilingual managers to run such an effort?