i liked the Argentinian comment, but unfortunatly i think many of the actions taken remind me of the beggining (not the end)of the crisis i went through here.. The only difference is that everyone believes in America and it;s promises. IMO the debt is ridiculous and unpayable but so is greece, ireland , portugal ,spain ect. It took ten years here..
Who can control the door to any child's treasure these days.. I am republican even though i do not vote obviously , and i agree she doesn't have what it takes, not even close. But she is not a bad example as a mother.She will not be on the tickect as president anyway.. I will give you my call on that soon. THey call me Pulpo pat here but only soccer fans would understand that. I'm pretty good at getting outcomes right,,,besides stocks of course,,lol.
It's not that these people don't know any better, it's because the agenda is not always about what's best for the country. Too many conflicts of interests and friends being looked after. JMO
“Some intriguing research in the contrary vein is worth considering,” writes James Grant, taking the baton from his colleague. “‘A Decade Lost and Found: Mexico and Chile in the 1980s,’ by Raphael Bergoeing, Patrick J. Kehoe et al., published in 2002, might serve as a parable for these interventionist times. The paper contrasts the response of Mexico and Chile to the seemingly intractable difficulties each faced in the 1980s.
“Despite a similar starting point, the authors write, ‘Chile returned to trend in about a decade and since then has grown even faster than trend. In contrast, output in Mexico has never fully recovered, and even two decades later is still 30% below trend.’
“The difference? Chile let companies fail and markets clear. Mexico, anticipating certain features of the contemporary United States, allowed its archaic bankruptcy system to perpetuate the lives of money-losing businesses and allocated credit by government directive.
“The sharp recession that Chile suffered in consequence of its seemingly harsh policies,” Grant continues, “merely proved the preface to a superb recovery. In comparative terms, Mexico stagnated. Washington, DC, please copy.”