Monday, August 10, 2009
"deleveraging the most leveraged economy in history"
UPDATE: pragmatic capitalist cites as well. i think many underestimate the intensely positive short-run effect that government deficit spending is having right now on an economy that is privately delevering for the longer term. if or when that stimulative spending is phased out by a nervous and divided populist government -- much as the hashimoto government of 1997 did -- the scale of that beneficence will become more tangible.