>Doug, not sure I understand your comment: "and alienating your creditors
>with your political Belligerence." How should I interpret this?
With Rummy going on about Old Europe and such, it probably makes some investors less willing to buy U.S. assets.
>As far as being one of those "left Austrians" ... I'm not sure yet as I
>am still progressing up the learning curve in an attempt to find my way.
>But honestly, I like what the Austrian economist have to say and don't
>consider them as being "left." You are far more versed in economics
>than I, so perhaps you can shed some light on your position and your
>perception of "left Austrians."
There's a tendency among a lot of people on the left, esp Marxists, to take solace from Wall Street permabears, who are often Austrians of some sort. That is, they believe that the state can't solve the problems of capitalism - or, worse, that state intervention only postpones the day of reckoning and makes things worse when it comes. So easy credit and big government, instead of preventing or managing crises, only store up trouble. I think this underestimates the power of the state to rescue and manage.
Sorry for the brief answer, but I've got a book to finish.
Doug