More from the sucksters

[michael perelman]

Absolutely.  Defaults from both the states and private companies.  I have a
section on that in my book, Transcending the Economy, which should appear this
spring.

Enrique Diaz-Alvarez wrote:


> How about my notion that defaults on this loans were an important contributor
> to US development, by removing the need to run a current account surplus to
> service the debts? Right, wrong, exaggerated?
>
> DANIEL.DAVIES at flemings.com wrote:
>
> > >(and
> > >was funded almost entirely by European
> > >financiers until late in the century).
> > >
> >
> > As an employee of the company formerly known as Robert Fleming's Scottish
> > American Investment Trust, I can vouch for this point, but no others.
> >
> > dd
> >
> >
>
> --
> Enrique Diaz-Alvarez            Office # (607) 255 5034
> Electrical Engineering          Home #   (607) 272 4808
> 112 Phillips Hall               Fax #    (607) 255 4565
> Cornell University             mailto:enrique at ee.cornell.edu
> Ithaca, NY 14853               http://peta.ee.cornell.edu/~enrique

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu