Greenspan on U.S. foreign balance

Doug Henwood dhenwood at panix.com
Wed Mar 13 14:35:00 PST 2002


Carrol Cox wrote:


>I'm not exactly arguing -- it's just that it's hard to imagine a
>military power so overwhelming as the U.S. being pushed around
>economically if "it" (who?) doesn't want to be.

When you need to borrow over a billion a day from foreigners, it's not clear how much having a big military helps. There are economic constraints on empire, after all. I don't know the answers on this - I'm just thinking out loud. But how and when the U.S. gets its foreign accounts back into balance, or some approximation of it, is a biggie.

Doug



More information about the lbo-talk mailing list