Bloomberg radio hosted an hour long dicussion on challenges and ideas to promote recovery in America. Listen here to: Gross, Orszag, Calomiris, Shiller Debate Economy, Policy.
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Bloomberg radio hosted an hour long dicussion on challenges and ideas to promote recovery in America. Listen here to: Gross, Orszag, Calomiris, Shiller Debate Economy, Policy.
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Quantitative easing, infrastructure spending, jump-starting the economy…. the Soviets had a saying “we pretended to work and they pretended to pay us”. It applies to us as well. Another saying comes to mind…a democracy works only until the voters learn that they can vote themselves money.
In the movie The Exorcist the priest is told that the girl is possessed by 9 devils and the priest replies “no, there is only one devil”. That devil is debt. When you spend what you don’t have or can’t earn it does not end well.