Latest from Stiglitz

Ian Murray seamus2001 at attbi.com
Fri May 3 08:43:55 PDT 2002


----- Original Message ----- From: "Max Sawicky" <sawicky at epinet.org>


> http://www.nybooks.com/articles/15403

============

Once again, irony is used when it shouldn't be:

"The only thing that keeps the system working at all is that the United States, the richest country in the world, has become the "deficit of last resort." This is the ultimate irony: the financial system allows the United States to live year after year beyond its means, buying abroad far more goods than it sells, even as the US Treasury, year after year, lectures others on why they should not do so."

This is precisely *not* irony. JS ought to know better than to let a bunch of jerks off the hook.

Ian



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