[lbo-talk] Stiglitz on Europe's Stabiliy Pact

[Chris Doss]

>
>>Most of America's 50 states have constitutional amendments that
>>effectively impose a balanced budget. As tax revenues drop due to the
>>economic downturn, the states are cutting back on expenditures,
>>exacerbating America's slump - and the world's.
>
>Ain't no slump in Russia. Russia is hopping.
>
----
Moreover, I add, Russia is hopping in part BECAUSE OF the world economic 
slump. Russian capital that was stashed overseas is coming back to the 
Motherland because it's viewed as more stable and profitable. Thank you, 
world economic slump!

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