Comparing the U.S. to Russia and Argentina - Glenn Greenwald - Salon.com »
Posted By rimbaud 7 months, 2 weeks ago in Political NewsDesmond Lachman -- the former chief strategist for emerging markets at Salomon Smith Barney and a long-time official with the IMF (no raving socialist he) -- argues today that the most apt comparison for the U.S. now is not Japan's "lost decade," but rather, "that the United States is coming to resemble Argentina, Russia and other so-called emerging markets, both in what led us to the crisis, and in how we're trying to fix it." He begins by recounting an IMF trip to Yeltsin-era Russia:
Read Full Story at salon.com »
272 Views Share Story 7 Comments Report
RSS Join the Discussion
+ Add CommentComments So Far: 7 (view all)
-
100%
rimbaud7 months, 2 weeks ago
This comment is below the standard viewing threshold View It »
http://www.washingtonpost.com/wp-dyn/content/artic...
Reply -
-
-
pfestusComment removed: Spammer
-
100%
hyperbola7 months, 2 weeks ago
This comment is below the standard viewing threshold View It »
Well, since the Reagan administration, the "financial services" sector of the economy has grown from about 4% to 40%. We are about to pay the price for 30+ years of rewarding those who push around paper claims to wealth, much of which are now worthless.
Reply
However, there is another source of massive corruption that we also need to curtail. The Pentagon "iron triangle" of corruption costs us as badly as the financial corruption, e.g. the $3 - $5 trillion that the war in Iraq cost us. -
-
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.