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It seems to me that the US is now utterly disfunctional both politically and economically. Anyone over here waiting for it to somehow drag the rest of the world out of the current crisis will be sorely disappointed.
And until the Neocon koolaid drinkers in Europe are somehow out maneuvered, removed or shouted down, I don´t see things getting better. It´s depressing, but The Automatic Earth compiles a wide ranging selection of economic/political media. This recent edition focuses to some degree on Europe.
And can anyone explain to me why Moody´s, Standard and Poor´s and the rest of their ilk are still in business (not to suggest perhaps jail)?
Why are the ratings agencies still in business? Because the people we elect allow them to be - Krugman expresses it quite well http://nyti.ms/geE5CJ
ReplyDeleteAnd can someone explain why the bankers are still getting huge bonuses when the tax payer has bailed them out?
ReplyDelete