As much as I like the image of the US government as a bunch of drunken skinheads, rampaging through towns breaking windows and breaking heads while singing obscene songs, Vladdy is, as usual, full of it.
The BRICS (and how primitive Russia ever got included with real vibrant economies like Brazil, China, & India, I'll never understand) CLEARLY WANT US to run a big trade deficit. They are willing to put up with rising domestic inflation in their efforts to stop their currencies from appreciating and (perhaps) our trade deficit from falling.
And regarding the US debt, it's "flooding of the world" has raised the interest it must pay to an eye-popping 3.5%??????
Vladdy is right that Russia doesn't have the luxury of large scale Ruble denominated borrowing, in part because THEY DEFAULTED IN 1998!
I think Vladdy should stick with wrestling bears and snowmobiling with his boy-toy Medvedev.
UPDATE: In an unthinkable coincidence, it was pointed out to me that Paul Krugman has similar thoughts on Vladdy.
1 comment:
Yeah, I had you beat too:
http://ipeatunc.blogspot.com/2011/04/some-politics-of-us-hooliganism.html
Get on the ball, Angus!
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