Yesterday, I went to the mall. This is not a new occurrence. I go to the mall almost every day. It is where the grocery store and the office supply store are, as well as the Starbucks and many, many restaurants. To get to the mall, I ride for about 10 minutes on a mini-bus, filled with people heading in my direction. Yesterday, the driver stopped on the way to fill up his tires. The compressor was owned by a guy who had set up a little business for himself on the side of the road. That’s also no big deal.
It’s an election year. That must mean it’s time for Congressional representatives to announce support for ridiculous Constitutional amendments and for state leaders to instill fear in the population by creating all sorts of boogeymen, like (imaginary) undocumented Mexicans running roughshod in the Arizona desert, beheading (imaginary) poor, unsuspecting, hardworking, freedom-loving, salt of the earth Americans.
Which has me wondering: why is discussing problems and solutions like grown ups so unpalatable in America?
I should make clear from the outset that I am not an economist. So this post is more of a question for those of you out there who actually know something about the way economies, and more specifically financial investments, work.
When I want to learn about something, I generally start with my good friend, the Google. Depending on how much I want to know, it can stop there, or lead me to the local public library. Sometimes, when I want to know a lot about one particular thing, I even head for one of the university libraries in town.
They get six years of free reign during which they drive the country into a ditch. Not just any ditch, either--a snow-filled ditch with a pond of thin ice at the bottom, far, far away from the nearest gas station.
Then, they start losing. So, instead of asking themselves why they are losing, they double down, and lose some more.
Right after the election was over, I started a series of posts called Stuff I Learned, about the history of American presidents, as I read a book called The American Presidency. I didn't get very far into the book, and now I can't find it. I'm not all that worried about finishing, not being a fan of non-fiction.
So, at least for now, I won't be sharing with you the stuff I learned about American history. Instead, I'm hoping you'll share with me stuff you already know, because I'm confused.
I know some people might suggest the money spent on these rockets could be better spent lifting their people out of poverty, but given their population of well over a billion people, I think that forcing them into either/or options is narrow thinking.
Krugman explains why the ruble has fallen more then the deflation of the price of oil. He looks at all the debt that the oligarchs has accumulated out side of Russia. All this debt is held in foreign currency and not in rubles. Normally this type of currency crash happens when high foreign debt is caused by government over borrowing and low exports. This is not the case because exports have been high in Russia and government borrowing low. The private sector has been accumulating assets out side of Russia with heavy borrowing.
It is a good read. I like how in the end he brings up the love affair some of the far right's with Putin. Like I said in a comment on the other thread on this subject. Russia is a far right's wet dream.