[lbo-talk] Strike against austerity cuts brings Portugal to a halt

[Wojtek S]

[WS:]  Good point re. the eurozone, but not so re. the US.  The latter is
like the billionaire being perfectly free to sleep under a bridge.  It took
the "Reagan revolution" to close that option for the US government, and it
requires another evolution to re-open it again.  However, I am not holding
my breath to see it happen.

Wojtek

On Wed, Nov 24, 2010 at 9:20 AM, Michael Pollak <mpollak at panix.com> wrote:


>
> On Wed, 24 Nov 2010, Wojtek S wrote:
>
>  http://www.bbc.co.uk/news/world-europe-11825643
>>
>> [WS:] It seems that which party is in power makes little difference as far
>> as austerity measures are concerned.
>>
>
> If they instead to stay in the euro in its present form, individual
> countries in this position truly have no choice.  You can't generalize from
> this case to non-euro case.  The US by contrast is economically perfectly
> free to be fiscally expansive.
>
> Michael
>
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