[lbo-talk] Gold burg

parthasarathy kalalesrinivasaranga kalalepsarathy at gmail.com
Sun Sep 28 01:12:35 PDT 2008


world over governments are not maintaining fiscal discipline.. they balancing the budget by just leaving a gaping whole and deficit. They just pass on the burden to next goverment and next generation. Today's international debt like the 500 billion from China etc is an accumulated result of spend thrift .living beyond means of previous governments. .. they would not just tax and augment the revenue and lose their next election. .. so no more printing motes.. they just use the sovereignty of the government and borrow and be happy in the present.. the fiscal discipline that World bank insists from developing and underdeveloped countries to be eligible for loan, should be applicable to advanced economies also. EU tries to do this without any success...

-- paarthasarathy, Bangalore, India



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