Weisbrot: the Long Haul

Peter K. peterk at enteract.com
Fri Jan 5 20:05:28 PST 2001



>U.S. imports are equal to about 15% of GDP, so about 85% of the
>stimulus would stay within these glorious borders.
>
>Doug
>

It's interesting that a few mainstream commentators have mentioned that many foreign economies depend on the gloriously indebted U.S. consumers and should they stop spending, it could spell trouble. As I seem to remember, the last time Greenspan lowered rates was in Oct. '98 in response to the Asian/Russian etc. crises and the following hikes were made in part to counteract the Fall of '98 lowerings. Somewhat related, dollar-pegged Argentina is about to embark on some old-style pump-priming public works spending.



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