dagblog - Comments for "The Strengths and Weaknesses of American Exceptionalism "

Dear Genghis Thanks for

coatesd — Sat, 30 Apr 2011 20:29:55 +0000

In reply to David, I saw that this piece

Dear Genghis

Thanks for noting this, I hadn't realized. Amazing that they should have done that

The bulk of the comments so far on HuffPo- almost the whole of them, though not quite all of course - go with the argument, and develop it. So if we all think this, or enough of us anyway, maybe we will be able to stop the rot. Thank goodness for dagblog and Huff Post. At least we have a platform

Best wishes

David

Far frickin out!!

Richard Day — Sat, 30 Apr 2011 18:44:32 +0000

In reply to David, I saw that this piece

Far frickin out!!

David, I saw that this piece

Michael Wolraich — Sat, 30 Apr 2011 16:54:11 +0000

In reply to The Strengths and Weaknesses of American Exceptionalism

David, I saw that this piece made the front page at HuffPo. Congrats!

The capacity of the United

Flavius — Sat, 30 Apr 2011 11:53:00 +0000

In reply to The Strengths and Weaknesses of American Exceptionalism

The capacity of the United States to maintain its current levels of public spending and private consumption now depends on the willingness of more successful economies elsewhere in the global system to redirect their surpluses into the purchase of U.S. treasury bonds. That might make us exceptional, but it no longer makes us superior.

Only on the assumption that all other things remain the same. But there are lots of ways to San Jose.

We could drastically reduce that dependence by shrinking the DOD's budget and its associated inflationary pressures permitting the Fed to keep its hands off the punch bowl. . And possibly with a one/two punch by its impact on the balance of payments, directly by reducing military aid., indirectly by cutting imports. Sure we sell Stingers to Saudi Arabia but does that cover the fx required for the oil to keep tanks rolling and jets flying?

And what would be the economic effect of restoring the progessivity of the tax code to say Nixon's IRS.? Certainly fewer McMansions in Sconset and thus more economic room for Joe Lunchpail to buy a flat screen TV.