[T]he superstition that the budget must be balanced at all times, once it is debunked, takes away one of the bulwarks that every society must have against expenditure out of control. . . . [O]ne of the functions of old-fashioned religion was to scare people by sometimes what might be regarded as myths into behaving in a way that long-run civilized life requires.
Wednesday, June 05, 2013
5 Scary Myths You Probably Believe About the Economy
5 Scary Myths You Probably Believe About the Economy Contrary to what you might believe:
#5. No, China Isn't on the Verge of Owning America
#4. American Manufacturing Isn't Dead
#3. Illegal Immigrants Appear to Be Helping the Economy
#2. Deficits Aren't Always Bad
#1. America Doesn't Have a Debt Crisis (Not Yet, Anyway)
2 comments:
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China owing america.....
ReplyDeletea few years ago I remember the 'help! arabs are buying america!!' nonsense.
My comment to the person was 'good that way its their property and they wont want to blow it up'...this was before 9-11.
So what if ???? is buying america, we can do exactly the same the french did to us...kicked us out and said we dont want you here.
The case of China we have so much invested that to have them do anything would be a major lose to them.
The only 'debt crisis' we have is the made up one used by the re-puke-ians to take away SS and medicare.
ReplyDeleteThe 'insert numerous expletives' re-puke-ians are the biggest bunch of 'welfare suck-er-uppers' and they want to get rid of SS which is paid for but then they can steal from it on a larger scale and not pay it back.