I think you have hit the nail on the head. Bailout socialism is in and tight money is out.
At least those who are still waiting to go down the drain, will go down ,with a smile on their face, and, a song in their heart for dear old Alan Greenspan.
Sincerely, Tom
Dennis R Redmond wrote:
> On Thu, 15 Oct 1998, Brad De Long wrote:
>
> > Face it: the only "really existing socialist" head of government whom you
> > or I would have elected to a post any higher than that of neighborhood
> > dogcatcher was Salvador Allende. (Well, maybe Daniel Ortega; but maybe not.)
>
> What, Willy Brandt and Oskar Lafontaine don't cut it? Speaking of
> Eurochaos, get set for an absolutely *ferocious* struggle in the months
> ahead vis-a-vis the European Central Bank: a story in the Tageszeitung
> reports that the ECB has agreed on a target of 2% annual inflation.
> Meanwhile, our man Oskar, future finance minister, grabbed the headlines
> by saying interest rates needed to be slashed, in a hurry, everywhere in
> Europe. Combine this with Jospin's dextrous coup de grace to the MAI, and
> you have all the ingredients for a pitched fight on the ramparts of
> Eurocapital. And for the first time in 25 years, the sado-monetarists are
> on the run. Forth to Bailout Socialism, comrades!
>
> -- Dennis