It is becoming increasingly clear, however, that the problem is one not only for the US, but for the rest of the world as well. Since December 7, 1941, the world has in large part been able to rely on global governance by a somewhat-competent hyperpower. That America may be gone for good. If it is, the world needs to develop other institutions for global management – and quickly.
Read the whole post at Project Syndicate: America’s Locust Years by J. Bradford DeLong
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5 comments:
Tom,
Obama has probably shaved 2-3 strokes off his handicap over those six months so it hasnt been a complete waste...
Sorry Brad, the debt ceiling is much more important and all time consuming.
Mr. Hickey:
You should go to Michael Hudson's blog and find the artical entitled "Wall Streets's Euthanasia of Industry." There is an enterview that Mr. Hudson did with Bonnie Faulkner. If possible, you may want to post it on this site.
Sorry about the spelling. I didn't catch it until I had posted.
I saw that GLH. MIchael in top form.
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